PROGRAM

 

 

Room Allocation:
A: Hungarian Academy of Sciences
B: Aranytiz Cultural Center
U: Central European University
I: Hotel Intercontinental

 

SUNDAY 26 AUGUST 2007


10:00 - 20:00

REGISTRATION  - Hungarian Academy of Sciences (HAS)


 

MONDAY 27 AUGUST 2007


10:00 - 15:00

REGISTRATION  - Hungarian Academy of Sciences (HAS)


 


15:00 - 17:00

SPECIAL LECTURE


 


15:00 - 17:00

SPECIAL LECTURE (EEA)
Chairperson: Guido Tabellini, IGIER, Bocconi University - President EEA

Room A-6


 

PRODUCTIVITY IN THE EURO AREA AND MONETARY POLICY
Jean-Claude Trichet, President, European Central Bank

 


15:00 - 17:00

CONTRIBUTED SESSIONS 1
EEA


 


15:00 - 17:00

IO: EMPIRICAL AND APPLIED (EEA)
Chairperson: Thibaud Vergé, CREST-LEI

Room U-1


 

THE IMPACT OF INTERNET ON THE MARKET FOR DAILY NEWSPAPERS IN ITALY
Lapo Filistrucchi, Tilburg University and University of Siena

 

 

WHY NOT SELL LOTTERY TICKETS IN A PHARMACY: ON CONFLICTING PRODUCT FEATURES AND CONSUMER CHOICE
Daniel Mueller, Bonn Graduate School of Economics (BGSE)
Co-Author: Philipp C. Wichardt, Economic Theory 3, University of Bonn

 

 

DOES MEMBERSHIP ON THE UN SECURITY COUNCIL INFLUENCE IMF DECISIONS? EVIDENCE FROM PANEL DATA
Jan-Egbert Sturm, KOF, ETH Zurich

Co-Authors: Axel Dreher, ETH Zurich
and James Raymond Vreeland, Yale University

 

 

THE EFFECTS OF BANNING BELOW-INVOICE PRICES: AN EMPIRICAL INVESTIGATION
Thibaud Vergé, CREST-LEI
Co-Authors: Pierre Biscourp, ENSAE, CREST and Xavier Boutin, INSEE

 



 

15:00 - 17:00

IO: MARKETING (EEA)
Chairperson: Irene Martínez-Pardina, University of Murcia

Room U-2


 

ON THE SIGNALING AND FEEDBACK EFFECTS OF UMBRELLA BRANDING
Jeanine Thal, European University Institute

 

 

NELSON’S CONJECTURE: SOME EFFECTS OF CONSUMER PROTECTION ON DECEPTION, CONSUMER SEARCH AND COMPETITION
Chris Wilson, University of Oxford

 

 

COMPETITION VERSUS INFORMATION UNDER THE WORD-OF-MOUTH EFFECT
Irene Martínez-Pardina, University of Murcia
Co-Authors: Francisco Alcala, University of Murcia and Miguel Gonzalez-Maestre, Universidad de Murcia

 

 

BRANDING NEWS WITH POLITICAL OPINION
Frode Steen
Co-Author: Gorm Grřnnevet, NHH

 


15:00 - 17:00

GROWTH I (EEA)
Chairperson: Antonio Navas-Ruiz, GREQAM Université d''Aix-Marseille

Room U-9


 

TOWARDS A THEORY OF TOTAL FACTOR PRODUCTIVITY  (GROWTH): MONETARY POLICY, SHORT-RUN FLUCTUATIONS AND LONG-RUN CONSEQUENCES
Marc Schiffbauer, University of Bonn
Co-Authors: Michael Evers, Bonn Graduate School of Economics and Stefan Niemann, Bonn Graduate School of Economics

 

 

NEW COMBINATIONS AND GROWTH
Jürgen Antony, University of Augsburg

 

 

RICH, POOR AND GROWTH-MIRACLE NATIONS: MULTIPLE EQUILIBRIA REVISITED
Lilia Maliar, Universidad de Alicante
Co-Authors: Kylymnyuk Dmytro, University of Toulouse and Serguei Maliar, University of Alicante

 

 

TRADE OPENNESS, INSTITUTIONAL CHANGE AND ECONOMIC GROWTH
Antonio Navas-Ruiz, GREQAM Université d''Aix-Marseille

 


15:00 - 17:00

HEALTH I (EEA)
Chairperson: Matthias Dahm, Universitat Rovira i Virgili

Room U-3


 

LOWERING BLOOD ALCOHOL CONTENT LEVELS TO SAVE LIVES: THE EUROPEAN EXPERIENCE.
Daniel Albalate, University of Barcelona

 

 

LABOR MARKET INTERRUPTIONS AND HEALTH: EVIDENCE FROM A NATURAL EXPERIMENT
Andreas Kuhn, University of Zurich
Co-Authors: Rafael Lalive, University of Lausanne and Josef Zweimüller, University of Zurich

 

 

PRICE VARIATION IN MARKETS WITH HOMOGENEOUS GOODS: THE CASE OF MEDIGAP
Mathis Schroeder, Mannheim University
Co-Authors: Dana Goldman, RAND Corporation and Nicole Maestas, RAND corporation

 

 

CLINICAL TRIALS: THE EFFECTS OF REGISTRIES AND RESULTS DATABASES
Matthias Dahm, Universitat Rovira i Virgili
Co-Authors:

Paula Gonzalez, Universidad Pablo De Olavide, Sevilla and Nicolás Porteiro, Universidad Pablo de Olavide, Sevilla.

 


15:00 - 17:00

MIGRATION I (EEA)
Chairperson: Radu Vranceanu, ESSEC Business School

Room U-6


 

RETURN MIGRATION AND THE "HEALTHY IMMIGRANT EFFECT"
Monika Sander, University of Bamberg

 

 

DO EDUCATIONAL DIFFERENCES AND THEIR IMPACT ON EARNINGS HAMPER IMMIGRANTS?
Lubomira Anastassova, CERGE-EI

 

 

SKILL DIFFUSION BY TEMPORARY MIGRATION? RETURNS TO WESTERN EUROPEAN WORKING EXPERIENCE IN THE EU ACCESSION COUNTRIES
Anna Iara, The Vienna Institute for International Economic Studies (wiiw)

 

 

INTERNATIONAL REMITTANCES AND RESIDENTS' LABOUR SUPPLY IN A SIGNALING MODEL
Radu Vranceanu, ESSEC Business School
Co-Author: Claire Naiditch, ESSEC Business School and University Paris 1

 


15:00 - 17:00

AGENCY, FAIRNESS AND CONTRACTS (EEA)
Chairperson: Björn Bartling, University of Munich

Room U-8


 

DYNAMIC REGULATION OF PUBLIC GOOD QUALITY
Stephane Auray, Univ. Lille 3, GREMARS and CIRPEE
Co-Authors: Thomas Mariotti, GREMAQ -Toulouse and Fabien Moizeau, Univ. Toulouse and GREMAQ

 

 

EFFICIENT CONTRACT DESIGN IN MULTI-PRINCIPAL MULTI-AGENT SUPPLY CHAINS
Thomas Weber, Stanford University
Co-Author: Hongxia Xiong, Stanford University

 

 

RELATIONAL CONTRACTS AND INEQUITY AVERSION
Jenny Kragl, Humboldt-Unviversität zu Berlin
Co-Author: Julia Schmid, Technische Universität Berlin

 

 

RELATIVE VS. TEAM PERFORMANCE EVALUATION WITH INEQUITY AVERSE AGENTS
Björn Bartling, University of Munich

 



 

15:00 - 17:00

LIFE CYCLE AND RETIREMENT (EEA)
Chairperson: Ernesto Villanueva, Bank of Spain

Room U-12


 

HETEROGENEITY IN INTRA-MONTHLY CONSUMPTION PATTERNS, SELF-CONTROL, AND SAVINGS AT RETIREMENT
Giovanni Mastrobuoni, Collegio Carlo Alberto
Co-Author: Matthew Weinberg, University of Georgia

 

 

TEMPTATION AND SOCIAL SECURITY DISTORTION
Alessandro Bucciol, University of Padua

 

 

THE EFFECTS OF THE INTRODUCTION OF TAX INCENTIVES ON RETIREMENT SAVINGS
Ernesto Villanueva, Bank of Spain
Co-Authors: Juan Ayuso, Bank of Spain and Juan Jimeno, Bank of Spain

 


15:00 - 17:00

ECONOMICS OF EDUCATION I (EEA)
Chairperson: Stéphane Bonhomme, CEMFI

Room U-13


 

SELF-PRODUCTIVITY IN EARLY CHILDHOOD
Katja Coneus, ZEW, Mannheim
Co-Author: Friedhelm Pfeiffer, ZEW, Mannheim

 

 

THE IMPACT OF HEAD START ON BEHAVIORAL PROBLEMS OF CHILDREN AND ADOLESCENTS
Rita Ginja, University College London
Co-Author: pedro carneiro, UCL

 

 

IDENTIFYING THE SOURCE OF CATHOLIC SCHOOL EFFECTS ON WAGES AND EARNINGS
Young-Joo Kim, University of Wisconsin-Madison

 

 

ACCOUNTING FOR UNOBSERVABLES IN COMPARING SELECTIVE AND COMPREHENSIVE SCHOOLING
Stephane Bonhomme, CEMFI (madrid)
Co-Author: Ulrich Sauder, HEC Lausanne

 


15:00 - 17:00

VOTING AND EXPERIMENTS (EEA)
Chairperson: Pedro Vicente, Department of Economics and CSAE - University of Oxford

Room U-15


 

MINORITY VS. MAJORITY. AN EXPERIMENTAL STUDY OF STANDARDIZED BIDS
Agnes Pinter, Universidad Carlos III de Madrid
Co-Author: Robert F. Veszteg, Universidad de Navarra

 

 

ONE ROUND VERSUS TWO ROUND ELECTIONS: AN EXPERIMENTAL STUDY
Karine Van Der Straeten, PSE Paris
Co-Authors: André BLAIS, U. of Montreal, Jean-Francois Laslier, Ecole Polytechnique, Paris, Annie Laurent, CNRS and Nicolas Sauger, Institut d'Etudes Politiques de Paris

 


 

 

EDUCATION AND VOTER TURNOUT IN A QUASI-EXPERIMENTAL SCHOOL REFORM
Panu Pelkonen, University College London

 

 

IS VOTE BUYING EFFECTIVE? EVIDENCE FROM A RANDOMIZED EXPERIMENT IN WEST AFRICA
Pedro Vicente, Department of Economics and CSAE - University of Oxford

 


15:00 - 17:00

EXCHANGE RATES AND ORDER FLOWS IN THE FOREIGN EXCHANGE MARKETS (EEA)
Chairperson: Alexander Mende, RPM Risk & Portfolio Management AB

Room U-17


 

EXCHANGE RATE FORECASTING, ORDER FLOW AND MACROECONOMIC INFORMATION
Elvira Sojli, University of Warwick
Co-Authors: Dagfinn Rime, Norges Bank and Lucio Sarno, Warwick Business School

 

 

LOCAL INFORMATION IN FOREIGN EXCHANGE MARKETS
Maik Schmeling, Leibniz Universitaet Hannover
Co-Author: Lukas Menkhoff, Leibniz Universität Hannover

 

 

ORDER FLOWS, NEWS, AND EXCHANGE RATE VOLATILITY
Alexander Mende, RPM Risk & Portfolio Management AB
Co-Authors: Michael Froemmel, University of Hannover and Lukas Menkhoff, Leibniz Universität Hannover

 


15:00 - 17:00

FDI AND MULTINATIONAL FIRMS (EEA)
Chairperson: Sjoerd Beugelsdijk, Nijmegen School of Management

Room U-20


 

SECTORAL ANALYSIS OF THE LOCATION CHOICE OF MULTINATIONAL ENTERPRISES
Selin Sayek, Bilkent University
Co-Author: Banu Demir, World Bank

 

 

SPILLOVERS FROM MULTINATIONALS TO HETEROGENEOUS DOMESTIC FIRMS: EVIDENCE FROM HUNGARY
Gábor Békés, Institute of Economics, H.A.S. and Central European University
Co-Authors: Jörn Kleinert, University of Tübingen and Farid Toubal, Univeristy of Paris I, Panthéon Sorbonne

 

 

DO VERTICAL SPILLOVERS LEAD TO CHANGES IN MARKUPS? FIRM-LEVEL EVIDENCE FROM HUNGARY
Balazs Murakozy, Central European University and IE-HAS

 

 

HOW CULTURAL DISTANCE AFFECTS THE GEOGRAPHICAL DISTRIBUTION OF EXPORTS AND LOCAL PRODUCTION
Sjoerd Beugelsdijk, Nijmegen School of Management
Co-Author: Arjen Slangen, Erasmus University Rotterdam

 



 

15:00 - 17:00

CONSUMER BEHAVIOUR (EEA)
Chairperson: Wendelin Schnedler, Department of Economics, University of Heidelberg

Room U-22


 

HABITS AND HETEROGENEITY: A DYNAMIC DEMAND SYSTEM ANALYSIS
Soteroula Hajispyrou, University of Cyprus, Economics Research Centre

 

 

IS THE ELASTICITY OF INTERTEMPORAL SUBSTITUTION CONSTANT
Thomas Crossley, University of Cambridge
Co-Author: Hamish Low, University of Cambridge

 

 

INDIVIDUAL WELL-BEING IN A DYNAMIC PERSPECTIVE
Conchita D''Ambrosio, Universita'' di Milano-Bicocca & DIW Berlin
Co-Author: Joachim R. Frick, DIW Berlin

 

 

SATIATION AND INEQUALITY
Wendelin Schnedler, Department of Economics, University of Heidelberg
Co-Author: Stefan Napel

 


15:00 - 17:00

CORPORATE FINANCE (EEA)
Chairpersons: Andreas Stephan, European University Viadrina and Oleksandr Talavera, DIW-Berlin

Room U-10


 

FINANCING OF BUSINESS GROUPS - WHO SHOULD DO THE BORROWING?
Basak Akbel, University of Munich
Co-Author: Monika Schnitzer, University of Munich and CEPR

 

 

RECAPITALIZATION VS. LIQUIDATION IN RESOLUTION OF FINANCIAL DISTRESS
Thi Quynh Anh VO, GREMAQ – University of Toulouse 1

 

 

OPTIMAL AND NON-OPTIMAL LIQUIDATION DECISIONS OF CREDITORS
Max Bruche, CEMFI

 

 

THE EFFECTS OF UNCERTAINTY ON THE LEVERAGE OF NON-FINANCIAL FIRMS
Andreas Stephan, European University Viadrina and Oleksandr Talavera, DIW-Berlin
Co-Author: Christopher Baum, Boston College

 


15:00 - 17:00

ECONOMIC HISTORY (EEA)
Chairperson: Joachim Voth, UPF

Room U-7


 

GDP PER CAPITA OR REAL WAGES? MAKING SENSE OF CONFLICTING VIEWS ON PRE-INDUSTRIAL EUROPE.
Luis Angeles, University of Glasgow

 

 

ESTIMATING A CAGAN-TYPE DEMAND FUNCTION FOR GOLD: 1561-1913
Alexei Deviatov, New Economic School
Co-Author: Neil Wallace, Pennsylvania State University

 

 

AUCTIONING GOVERNMENT POSTS: REFLECTIONS ON THE ZIXUAN SYSTEM IN DYNASTIC CHINA
Audrey Hu, Amsterdam School of Economics/Tinbergen Instute
Co-Author: Liang Zou, University of Amsterdam

 

 

HISTORICAL DEFAULTS AND DEBT CRISES: AN ECONOMISTS GUIDE
Joachim Voth, UPF
Co-Author: Mauricio Drelichman, University of British Columbia

 


15:00 - 17:00

ENVIRONMENT I (EEA)
Chairperson: Frank C. Krysiak, University of Basel

Room U-11


 

ON THE SELF-SERVING USE OF EQUITY PRINCIPLES IN INTERNATIONAL CLIMATE NEGOTIATIONS
Andreas Löschel, Centre for European Economic Research (ZEW), Mannheim
Co-Authors: Andreas Lange, University of Maryland and ZEW, Carsten Vogt, University of Applied Sciences, Leipzig and Andreas Ziegler, Center for Corporate Responsibility and Sustainability (CCRS) at the University of Zurich

 

 

OVERSTATEMENTS IN THE GRANDFATHERING PROCESS - THE OPPOSITE OF TAX EVASION?
Frauke Eckermann, University of Dortmund

 

 

EMISSIONS TRADING AND PROFIT-NEUTRAL GRANDFATHERING
Robert Ritz, Oxford University
Co-Authors: Cameron Hepburn, Oxford University and John Quah, Oxford University

 

 

THE OPTIMAL SIZE OF A PERMIT MARKET
Frank C. Krysiak, University of Basel
Co-Author: Patrick Schweitzer, Technische Universität Berlin

 


15:00 - 17:00

TRADE AND GROWTH (EEA)
Chairperson: Istvan Konya, Magyar Nemzeti Bank and Central European University

Room U-14


 

PATH INTERDEPENDENCE AMONG EARLY AND LATE BLOOMERS IN A DYNAMIC HECKSCHER-OHLIN MODEL
Beatriz Gaitan, University of Hamburg
Co-Author: Terry Roe, University of Minnesota

 

 

INTRA-INDUSTRY SPECIALIZATION AND GROWTH IN AN HECKSCHER-OHLIN WORLD, 1976-2000
Jacques Potin, ESSEC Business School
Co-Author: Catia Batista, University of Oxford

 

 

DEVELOPMENT ACCOUNTING IN A HECKSCHER-OHLIN WORLD
Harald Fadinger, Department of Economics and Business, Universitat Pompeu Fabra

 

 

ENDOGENOUS MOBILITY, HUMAN CAPITAL AND TRADE
Istvan Konya, Magyar Nemzeti Bank and Central European University

 



 

15:00 - 17:00

FISCAL POLICY IN EMERGING MARKETS (EEA)
Chairperson: Ibrahim Unalmis, University of York

Room U-16


 

FISCAL AND MONETARY NEXUS IN EMERGING MARKET ECONOMIES: HOW DOES DEBT MATTER?
Garima Vasishtha, Bank of Canada
Co-Authors: Taimur Baig, IMF, Manmohan S. Kumar, IMF and Edda Zoli, IMF

 

 

FISCAL DISCIPLINE AND STABILITY UNDER CURRENCY BOARD SYSTEMS
Oliver Grimm, ETH Zurich

 

 

A FISCAL POLICY INDEX PROPOSITION FOR EMERGING MARKETS
Ibrahim Unalmis, University of York

 


15:00 - 17:00

INCENTIVES AND SOCIAL PREFERENCES (EEA)
Chairperson: Oddvar Kaarboe, University of Bergen

Room U-18


 

DEDICATED DOCTORS: PUBLIC AND PRIVATE PROVISION OF HEALTH CARE WITH ALTRUISTIC PHYSICIANS
Josse Delfgaauw, Erasmus University Rotterdam

 

 

SOCIAL EXCHANGE AND COMMON AGENCY IN ORGANIZATIONS
Hein Roelfsema, Utrecht School of Economics
Co-Author: Robert Dur, Erasmus University Rotterdam

 

 

FINANCIAL INCENTIVES IN ACADEMIA: RESEARCH VERSUS DEVELOPMENT
IAlbert Banal-Estanol, City University of London

Co-author: Inés Macho-Stadler, Universitat Autonoma de Barcelone

 

 

 

 

 

IS THERE A DEMAND RESPONSE BY PATIENTS IN PRIMARY CARE?
Oddvar Kaarboe, University of Bergen

 


15:00 - 17:00

THEORY I (EEA)
Chairperson: Salvador Barbera, Universitat Autonoma de Barcelona

Room U-19


 

THE OPTIMAL NUMBER OF ORGANIZATIONS
Jo Thori Lind, University of Oslo

 

 

UNAWARENESS OF THEOREMS
Spyros Galanis, University of Rochester

 

 

CREDIBLE RATINGS
Wing Suen, University of Hong Kong
Co-Authors: Ettore Dimiano, University of Toronto and Hao Li, University of Toronto

 

 

TOP MONOTONICITY: A WEAKK DOMAIN RESTRICTION ECOMPASSING SINGLE PEAKEDNESS, SINGLE CROSSING AND ORDER RESTRICTION
Salvador Barbera, Universitat Autonoma de Barcelona
Co-Author: BERNARDO MORENO, Universidad de Malaga

 


15:00 - 17:00

TECHNOLOGICAL PROGRESS (EEA)
Chairperson: Riccardo DiCecio, Federal Reserve Bank of St. Louis - Research Division

Room U-21


 

MANAGING TECHNOLOGICAL REGRESS: INNOVATION, ADAPTATION, AND THE ROLE OF PATENTS
Timo Goeschl, University of Heidelberg
Co-Author: Timothy Swanson, University College London

 

 

THE SPEED OF TECHNOLOGY ADOPTION WITH IMPERFECT INFORMATION IN EQUITY MARKETS
Katrin Tinn, London School of Economics

 

 

HETEROGENEOUS FIRMS, PRODUCTIVITY, AND POVERTY TRAPS
Riccardo DiCecio, Federal Reserve Bank of St. Louis - Research Division

 

 

TRIPS UNDER NO ENFORCEMENT OF THE NATIONAL TREATMENT COMMITMENT RULE
Rafael Pinho De Morais, University of Toulouse

 


15:00 - 17:00

CONTRIBUTED SESSIONS 1
ESEM: Theoretical and Applied Economics


 


15:00 - 17:00

ALLOCATION MECHANISMS (ESEM TAE)
Chairperson: Eva Benz, Bonn Graduate School of Economics

Room B-1


 

MANNA FROM HEAVEN OR FORTY YEARS IN THE DESERT: OPTIMAL ALLOCATION WITHOUT TRANSFER PAYMENTS
Surajeet Chakravarty, University of Exeter
Co-Author: Todd Kaplan, University of Exeter

 

 

STOCHASTIC MECHANISMS IN SETTINGS WITHOUT MONETARY TRANSFERS: REGULAR CASE
Eugen Kovac, University of Bonn
Co-Author: Tymofiy Mylovanov, University of Bonn

 

 

THE COST-SHARING OF EXCLUDABLE PUBLIC GOODS
Antonio Nicolo', Department of Economics, University of Padua
Co-Author: Jordi Masso, Departamento de Economia, Universitat Autonoma de Barcelona

 

 

THE INITIAL ALLOCATION OF CO2 EMISSION ALLOWANCES: A THEORETICAL AND EXPERIMENTAL STUDY
Eva Benz, Bonn Graduate School of Economics

 


15:00 - 17:00

APPLIED INDUSTRIAL ORGANISATION (ESEM TAE)
Chairperson: Rainer Frey, Deutsche Bundesbank

Room B-13



 

 

MARKET POWER, MULTIMARKET CONTACT AND PRICING: SOME EVIDENCE FROM THE US AUTOMOBILE MARKET
Nina Leheyda, CDSEM, University of Mannheim

 

 

ON THE EMERGENCE OF PRIVATE INSURANCE IN PRESENCE OF MUTUAL AGREEMENTS
Renaud Bourlčs, G.R.E.Q.A.M

 

 

MONOPOLY PROVISION OF TUNE-INS
Levent Celik, CERGE-EI

 

 

THE ROLE OF TECHNOLOGY IN M&AS: A FIRM-LEVEL COMPARISON OF CROSS-BORDER AND DOMESTIC DEALS
Rainer Frey, Deutsche Bundesbank
Co-Author: Katrin Hussinger, Catholic University Leuven

 


15:00 - 17:00

ASSET PRICING (ESEM TAE)
Chairperson: Paulo Maio, Banco de Portugal

Room B-4


 

INCOMPLETE MARKETS AND THE YIELD CURVE
François Le Grand, PSE
Co-Authors: Edouard Challe, CNRS and Xavier Ragot, CNRS

 

 

ASSET PRICING IN A GENERAL EQUILIBRIUM PRODUCTION ECONOMY WITH CHEW–DEKEL RISK PREFERENCES
Rui Castro, Université de Montréal
Co-Authors: Claudio Campanale, and Gian Luca Clementi,

 

 

THE QUALITY OF PUBLIC INFORMATION AND THE TERM STRUCTURE OF INTEREST RATES
Frederik Lundtofte, Dept of Economics - Lund University

 

 

WHAT DOES THE CROSS-SECTION TELL ABOUT ITSELF? AN ASSET PRICING MODEL WITH CROSS-SECTIONAL MOMENTS
Paulo Maio, Banco de Portugal

 


15:00 - 17:00

BEHAVIOURAL ECONOMICS (ESEM TAE)
Chairperson: Clemens Puppe, University of Karlsruhe

Room A-5


 

PROCRASTINATION, PARTIAL NAIVETE, AND BEHAVIORAL WELFARE ANALYSIS
Geir B. Asheim, University of Oslo

 

 

THE EVOLUTION OF MORAL CODES OF BEHAVIOR
Christoph Kuzmics, Kellogg School of Management
Co-Author: Carlos Rodriguez-Sickert,

 

 

DO THE RECIPROCAL TRUST LESS?
Steffen Altmann, University of Bonn and IZA
Co-Authors: Thomas Dohmen, IZA/Bonn and Matthias Wibral, University of Bonn and IZA

 

 

WHY SUGGEST NON-BINDING RETAIL PRICES?
Clemens Puppe, University of Karlsruhe
Co-Author: Stephanie Rosenkranz, Utrecht School of Economics

 


15:00 - 17:00

CREDIT MARKETS (ESEM TAE)
Chairperson: Hajime Tomura, Bank of Canada

Room A-7


 

THE IMPORTANCE OF BANK LOAN SUPPLY FOR REAL ECONOMIC ACTIVITY IN THE EURO AREA -- A PANEL DATA ANALYSIS
Christian Melzer, University of Bonn

 

 

NETWORK EFFECTS IN RISK SHARING AND CREDIT MARKET ACCESS: EVIDENCE FROM ISTANBUL
Oya Pinar Ardic, Bogazici University
Co-Authors: Fikret Adaman, Bogazici University and Didem Tuzemen, University of Maryland - College Park

 

 

MODELING CREDIT TO THE PRIVATE SECTOR IN THE EURO AREA: A NON LINEAR APPROACH
Leonardo Gambacorta, Banca d''Italia
Co-Author: Carlotta Rossi, Banca d'Italia

 

 

FIRM DYNAMICS, BANKRUPTCY LAWS AND TOTAL FACTOR PRODUCTIVITY
Hajime Tomura, Bank of Canada

 


15:00 - 17:00

DEVELOPMENT ECONOMICS (ESEM TAE)
Chairperson: Zhong Zhao, Institute for the Study of Labor (IZA)

Room A-3


 

FREE EDUCATION, FERTILITY AND HUMAN CAPITAL ACCUMULATION
Leonid Azarnert, Bar Ilan University

 

 

"METROPOLIZATION AND DEVELOPMENT"
Paul Cahu, Université Paris 1 - CES

 

 

STATUS-SEEKING BEHAVIOR, THE EVOLUTION OF INCOME INEQUALITY, AND GROWTH
Koichi Kawamoto, Osaka University

 

 

THE FERTILITY EFFECT OF CATASTROPHE: U.S. HURRICANE BIRTHS
Zhong Zhao, Institute for the Study of Labor (IZA)

 


15:00 - 17:00

ECONOMIC THEORY (ESEM TAE)
Chairperson: Balkenborg Dieter, University of Exeter

Room A-2


 

A NOTE ON THE CONVEXITY AND COMPACTNESS OF THE INTEGRAL OF A BANACH SPACE VALUED CORRESPONDENCE
Konrad Podczeck, University of Vienna

 

 

COMPARATIVE STATICS, INFORMATIVENESS, AND  THE INTERVAL DOMINANCE ORDER
John Quah, Oxford University
Co-Author: Bruno Strulovici, Oxford University

 

 

TERMINAL TYPE STRUCTURES
Amanda Friedenberg, Washington University

 

 

REFINED BEST-RESPONSE CORRESPONDENCE AND DYNAMICS
Balkenborg Dieter, University of Exeter
Co-Authors: Josef Hofbauer, and Christoph Kuzmics, Kellogg School of Management

 


15:00 - 17:00

LEARNING (ESEM TAE)
Chairperson: Larry Samuelson, Yale University

Room A-4


 

DISAGREEMENT AND LEARNING IN A DYNAMIC CONTRACTING MODEL
Mark Westerfield, University of Southern California
Co-Author: Tobias Adrian, Federal Reserve Bank of New York

 

 

HOW TO LEARN WITHOUT PRIORS
Karl Schlag, European University Institute

 

 

JOB MARKET SIGNALING AND EMPLOYER LEARNING
Julien Prat, University of Vienna
Co-Author: Carlos Alós-Ferrer, University of Konstanz

 

 

COMMON LEARNING
Larry Samuelson, Yale University

 


15:00 - 17:00

WAGES, COMPENSATION (ESEM TAE)
Chairperson: Sandra Ludwig, University of Munich

Room U-5


 

EXECUTIVE PAY WITH OBSERVABLE DECISIONS
Rosa Loveira, Universidad Complutense de Madrid
Co-Authors: Marco Celentani, Universidad Carlos III de Madrid and Pablo Ruiz-Verdu, Universidad Carlos III de Madrid

 

 

CONTRACTUAL INCOMPLETENESS AS A SIGNAL OF TRUST
Florian Herold, Northwestern University

 

 

RELATIONAL CONTRACTS WITH INDIVIDUAL AND STANDARDIZED WAGES
Wolfgang J. Luhan, University of Oldenburg
Co-Authors: Martin Kocher, CREED, Amsterdam and Matthias Sutter, University of Innsbruck

 

 

TEAMS, INCENTIVES, AND INTERMEDIATE INFORMATION
Sandra Ludwig, University of Munich

 


15:00 - 17:00

CONTRIBUTED SESSIONS 1
ESEM: Econometrics and Empirical Economics


 


15:00 - 17:00

ARCH MODELS (ESEM EEE)
Chairperson: M. Angeles Carnero, Universidad de Alicante

Room B-12


 

ESTIMATING GARCH VOLATILITY IN THE PRESENCE OF OUTLIERS
M. Angeles Carnero, Universidad de Alicante
Co-Authors: Daniel Peńa, Universidad Carlos III de Madrid and Esther Ruiz, Universidad Carlos III de Madrid

 

 

THE RELATIONSHIP BETWEEN ARIMA-GARCH AND UNOBSERVED COMPONENT MODELS WITH GARCH DISTURBANCES
Antoni Espasa, Universidad Carlos III de Madrid
Co-Authors: Santiago Pellegrini, Universidad Carlos III de Madrid and Esther Ruiz, Universidad Carlos III de Madrid

 

 

A COMPONENT GARCH MODEL WITH TIME VARYING WEIGHTS

Giuseppe Storti, University of Salerno
Co-author : Luc Bauwens, CORE - UC Louvain

 

 

MULTIVARIATE REGIME SWITCHING GARCH WITH AN APPLICATION TO INTERNATIONAL STOCK MARKETS
Markus Haas, University of Munich

 


15:00 - 17:00

BANK AND MONETARY POLICY 1 (ESEM EEE)
Chairperson: Haroon Mumtaz, Bank of England

Room B-11


 

INVESTIGATING THE STRUCTURAL STABILITY OF THE PHILLIPS CURVE TRADE-OFF
Haroon Mumtaz, Bank of England
Co-Author: Jan J. J. Groen, Bank of England

 

 

A MODEL OF MONEY WITH MULTILATERAL MATCHING
Philipp Kircher, University of Pennsylvania

 

 

MODEL SELECTION FOR MONETARY POLICY ANALYSIS---IMPORTANCE OF EMPIRICAL VALIDITY
Ragnar Nymoen, University of Oslo
Co-Author: Q. Farooq Akram, Norges Bank

 


15:00 - 17:00

CONSUMER BEHAVIOUR 1 (ESEM EEE)
Chairperson: Martin Browning, Oxford

Room B-10


 

ALLOCATION WITHIN THE HOUSEHOLD: DIRECT SURVEY EVIDENCE.
Martin Browning, Oxford

 

 

A DISCRETE CHOICE ESTIMATION OF A COLLECTIVE MODEL OF HOUSEHOLD LABOUR SUPPLY: AN APPLICATION FOR GERMANY
Denis Beninger, ZEW MANNHEIM

 

 

AN EMPIRICAL MODEL OF SEARCH WITH VERTICALLY DIFFERENTIATED PRODUCTS
Matthijs Wildenbeest, Indiana University

 

 

THE IMPACT ON BROADBAND ACCESS TO THE INTERNET OF THE DUAL OWNERSHIP OF TELEPHONE AND CABLE NETWORKS
Pedro Pereira, Portuguese Competition Authority
Co-Author: Tiago Ribeiro, INDERA

 

 



15:00 - 17:00

CROSS COUNTRY AND SPATIAL ECONOMETRICS (ESEM EEE)
Chairperson: Michael Pfaffermayr, Dept. of Economics, University of Innsbruck

Room B-6


 

CONDITIONAL BEAT- AND SIGMA-CONVERGENCE IN SPACE: A MAXIMUM LIKELIHOOD APPROACH
Michael Pfaffermayr, Dept. of Economics, University of Innsbruck

 

 

`DUAL' GRAVITY: USING SPATIAL ECONOMETRICS TO CONTROL FOR MULTILATERAL RESISTANCE
Wilfried Koch, LEG, Université de Bourgogne
Co-Authors: Kristian Behrens, CORE, Université catholique de Louvain and Cem Ertur, Laboratoire d'Economie d'Orléans - Université d'Orléans

 

 

SMALL SAMPLE PROPERTIES OF MAXIMUM LIKELIHOOD VERSUS GENERALIZED METHOD OF MOMENTS BASED TESTS FOR SPATIALLY AUTOCORRELATED ERRORS
Mario Larch, ifo Institute for Economic Research
Co-Authors: Peter Egger, CES ifo, Michael Pfaffermayr, University of Innsbruck and Janette Walde,

 


15:00 - 17:00

ECONOMETRICS OF HEALTH 1 (ESEM EEE)
Chairperson: Sumedha Gupta, Tinbergen Institute, Vrije Universiteit Amsterdam

Room B-9


 

EARLY LIFE CONDITIONS, MARITAL STATUS, AND MORTALITY
Sumedha Gupta, Tinbergen Institute, Vrije Universiteit Amsterdam
Co-Author: Gerard van den Berg, Free University, Amsterdam

 

 

PHARMACEUTICAL EXPENDITURE, TOTAL HEALTH CARE EXPENDITURE AND GDP
marcuello carmina, university of zaragoza
Co-Authors: Montanes Antonio, University of Zaragoza and Clemente Jesus, university of zaragoza

 


15:00 - 17:00

FORECASTING (ESEM EEE)
Chairperson: Kees Jan van Garderen, University of Amsterdam

Room B-7


 

FORECASTING GROWTH AND LEVELS IN LOGLINEAR UNIT ROOT MODELS
Kees Jan van Garderen, University of Amsterdam

 

 

THE USE OF ENCOMPASSING TESTS FOR FORECAST COMBINATIONS
Kisinbay Turgut, IMF

 

 

TOWARD OPTIMAL MULTISTEP FORECASTS IN UNSTABLE AUTOREGRESSIONS
Jin-Lung Lin, Institute of Economics, Academia Sinica
Co-Authors: Ching-Kang ING, Academia Sinica and Shu-Hui Yu, National Chi-Nan University

 


 

 

A SIMILARITY-BASED APPROACH TO PREDICTION
Offer Lieberman, University of Haifa
Co-Authors: Itzhak Gilboa, Tel Aviv University and David Schmeidler, Tel Aviv University

 


15:00 - 17:00

HIGH FREQUENCY FINANCIAL ECONOMETRICS 1 (ESEM EEE)
Chairperson: Charles Bos, FEWEB, Vrije Universiteit Amsterdam

Room B-3


 

HOW FREQUENTLY DOES THE STOCK PRICE JUMP? -- AN ANALYSIS OF HIGH-FREQUENCY DATA WITH MICROSTRUCTURE NOISES
Andras Fulop, ESSEC Business School Paris
Co-Author: Jin-Chuan Duan, Rotman School of Management, University of Toronto

 

 

INTRADAILY SEASONALITY OF RETURNS DISTRIBUTION. A QUANTILE REGRESSION APPROACH AND INTRADAILY VAR.
Laura Coroneo, Universite Libre de Bruxelles
Co-Author: David Veredas, Universite Libre de Bruxelles

 

 

LIQUIDITY-BASED ESTIMATION OF SPOT VOLATILITY UNDER MICROSTRUCTURE NOISE
Oliver Grothe, University of Cologne
Co-Author: Christoph Müller, University of Cologne

 

 

MODEL-BASED ESTIMATION OF HIGH FREQUENCY JUMP DIFFUSIONS WITH MICROSTRUCTURE NOISE AND STOCHASTIC VOLATILITY
Charles Bos, FEWEB, Vrije Universiteit Amsterdam

 


15:00 - 17:00

NONPARAMETRIC METHODS 1 (ESEM EEE)
Chairperson: Anton Flossmann, Department of Economics, University of Konstanz

Room B-8


 

EMPIRICAL BIAS BANDWIDTH CHOICE FOR LOCAL POLYNOMIAL MATCHING ESTIMATORS
Anton Flossmann, Department of Economics, University of Konstanz

 

 

T-STATISTIC BASED CORRELATION AND HETEROGENEITY ROBUST INFERENCE
Ulrich Müller, Princeton
Co-Author: Rustam Ibragimov, Harvard University

 

 

REPRESENTATION THEOREM FOR CONVEX NONPARAMETRIC LEAST SQUARES
Timo Kuosmanen, MTT

 

 

IDENTIFICATION AND ESTIMATION OF INCENTIVE PROBLEMS: ADVERSE SELECTION
Xavier d''Haultfoeuille, ENSAE, CREST-INSEE
Co-Author: Philippe Fevrier, Crest-Lei

 


15:00 - 17:00

REGIME SWITCHING (ESEM EEE)
Chairperson: Bruno Feunou Kamkui, Université de Montréal

Room B-5


 

REGIME SWITCHING AND TIME VARIATION OF CONDITIONAL SKEWNESS AND KURTOSIS IN S&P500
Bruno Feunou Kamkui, Université de Montréal

 

 

THE YIELD SPREAD AND GDP GROWTH - TIME VARYING LEADING PROPERTIES AND THE ROLE OF MONETARY POLICY
Jens Hogrefe, University of Kiel

 

 

OPTIMAL TEST FOR MARKOV SWITCHING GARCH MODELS
Liang Hu, University of Leeds
Co-Author: Yongcheol Shin, Unversity of Leeds

 

 

DERIVING THE AUTOCOVARIANCES OF POWERS OF MARKOV-SWITCHING GARCH MODELS, WITH APPLICATIONS TO STATISTICAL INFERENCE
Jean-Michel Zakoian, CREST and University Lille 3
Co-Author: Christian Francq, University Lille 3

 


15:00 - 17:00

TESTING 1 (ESEM EEE)
Chairperson: Harald Lohre, Union Investment Institutional GmbH

Room B-2


 

DISMANTLING THE GLOBAL ACCRUAL ANOMALY
Harald Lohre, Union Investment Institutional GmbH
Co-Author: Markus Leippold, Imperial College London

 

 

THE PERFORMANCE OF CONVENTIONAL TESTS ABOUT AN EXPECTATION : A REASSESSMENT
Frederic Jouneau-sion, EQUIPPE univeriste de Lille
Co-Authors: Jean-Marie Dufour, U de Montreal and Olivier Torrčs, GREMARS Université Lille 3

 

 

INDICES AND TESTS FOR MATCHING AND MOBILITY THEORIES: THE IMPACT OF THE ONE CHILD POLICY ON PARTNER CHOICE AND GENERATIONAL MOBILITY IN URBAN CHINA.
Gordon Anderson, Economics Department University of Toronto
Co-Author: Teng Wah Leo, Economics Department St francis Xavier University

 

 

A SIMPLE HETEROSKEDASTICITY AND NONNORMALITY ROBUST F-TEST FOR INDIVIDUAL EFFECTS
Chris Orme, University of Manchester
Co-Author: Takashi Yamagata, University of Cambridge

 


17:00 - 17:30

COFFEE BREAK


 


17:30 - 19:30

FISHER SCHULTZ LECTURE


 


17:30 - 19:30

FISHER-SCHULTZ LECTURE (ESEM TAE)
Chairperson: János Kornai, Collegium Budapest and Central European University

Room Intercontinental


 

SEGREGATION AND DIVERSITY IN SOCIAL STRUCTURE: THE IMPACT ON ECONOMIC WELFARE
Matthew Jackson, Stanford University

 


20:00 - 22:30

WELCOME PARTY, PALACE OF ARTS


 


TUESDAY 28 AUGUST 2007


09:00 - 11:00

INVITED SESSIONS 1
EEA


 


09:00 - 11:00

CULTURAL IDENTITY, MIGRATION AND MARKETS (EEA)
Chairperson: Alberto Bisin, New York University

Room A-6


 

ETHNIC IDENTITY
Klaus F. Zimmermann, IZA, Bonn University and DIW Berlin

 

 

EDUCATION AND NATIONAL IDENTITY
Paolo Masella, London School of Economics
Co-Authors: Oriol Aspachs, London School of Economics, Irma Clots-Figueras, Universidad Carlos III de Madrid and Joan Costa-Font, London School of Economics and Universitat de Barcelona

 

 

ARE THE MUSLIMS DIFFERENT FROM OTHER MIGRANTS IN TERMS OF CULTURAL INTEGRATION?
Alberto Bisin, New York University
Co-Authors: Eleonora Patacchini, University of Roma "La Sapienza", Thierry Verdier , Paris-Jourdan Sciences Economiques and Yves Zenou, Research Institute of Industrial Economics

 


09:00 - 11:00

WARS, ECONOMICS AND INSTITUTIONS (EEA)
Chairperson: Philippe Martin, Université Paris 1

Room A-4


 

WAR AND STATE CAPACITY

Torsten Persson, Institute for International Economics Studies

Co-Author: Tim Besley, London School of Economics

 

 

DEMOCRACY, DEVELOPMENT, AND CONFLICT
Paul Collier, Saint Anthony’s College – Oxford University    

Co-Author: Dominic Rohner, University of Cambridge

 

 

CIVIL WARS AND INTERNATIONAL TRADE
Philippe Martin, Université Paris 1
Co-Authors: Thierry Mayer, Université Paris 1, Panthéon-Sorbonne and Mathias Thoenig, Université de Genčve

 


09:00 - 11:00

UNDERSTANDING EXCHANGE RATES (EEA)
Chairperson: Sergio Rebelo, Northwestern University

Room U-9


 

CURRENCY SPECULATION AT LONG AND SHORT HORIZONS
Martin Eichenbaum, Northwestern University
Co-Author: Sergio Rebelo, Northwestern University

 

 

TRADING ACTIVITY AND EXCHANGE RATES IN HIGH FREQUENCY EBS DATA
Alain Chaboud, Federal Reserve Bank
Co-Authors: Ed Howorka, EBS and Jonathan Wright, Federal Reserve Bank

 

 

INEQUALITY AND REAL EXCHANGE RATES
Luigi Pistaferri, Stanford University
Co-Author: Narayana Kocherlakota, University of Minnesota

 


09:00 - 11:00

INVITED SESSIONS 1
ESEM: Theoretical and Applied Economics


 


09:00 - 11:00

ADVANCES IN ECONOMIC THEORY (ESEM TAE)
Chairperson: Martin Hellwig, Max Planck Institute for Research on Collective Goods

Room B-13


 

MINDLESS ECONOMICS
Wolfgang Pesendorfer, Princeton University, USA

 

 

DESIGN OF MATCHING MARKETS: KIDNEY EXCHANGE
Utku Unver, University of Pittsburgh

 


09:00 - 11:00

INVITED SESSIONS 1
ESEM: Econometrics and Empirical Economics


 


09:00 - 11:00

ECONOMETRIC THEORY (ESEM EEE)
Chairperson: Nour Meddahi, Imperial College, London

Room B-4


 

UNDERIDENTIFICATION?
Enrique Sentana, CEMFI
Co-Authors: Manuel Arellano, CEMFI and Lars Peter Hansen, University of Chicago

 

 

INSTRUMENTAL VARIABLE ESTIMATION IN A DATA RICH ENVIRONMENT
Serena Ng, University of Michigan
Co-Author: Jushan Bai, NYU

 


11:00 - 11:30

COFFEE BREAK


 


11:30 - 13:30

MARSHALL LECTURE, HOTEL INTER-CONTINENTAL


 


11:30 - 13:30

MARSHALL LECTURE (EEA)
Chairperson: Guido Tabellini, IGIER, Bocconi University - President EEA

Room Intercontinental


 

SOCIAL CAPITAL
Luigi Guiso, European University Institute

 


13:30 - 15:00

LUNCH


 



15:00 - 17:00

CONTRIBUTED SESSIONS 2
EEA


 


15:00 - 17:00

IO: APPLIED (EEA)
Chairperson: Carole Haritchabalet, GREMAQ

Room U-1


 

CASE PREPARATION, SETTLEMENT, TRIAL
Laurent Linnemer, CREST-LEI
Co-Author: Philippe Choné, CREST-INSEE

 

 

REPUTATION BUILDING ON ANONYMOUS TRADING PLATFORMS: THE CASE OF EBAY
Konrad Stahl, University of Mannheim
Co-Authors: Tobias Klein, University of Mannheim, Christian Lambertz, University of Mannheim and Giancarlo Spagnolo, Consip and Stockholm School of Economics

 

 

VALUING SATELLITE SYSTEMS TO SUPPORT FISHING IN A DYNAMIC COMPETITIVE MODEL
Carole Haritchabalet, GREMAQ
Co-Author: Fabrice Collard, GREMAQ

 

 

STRATEGIC INFORMATIVE ADVERTISING IN A HORIZONTALLY DIFFERENTIATED DUOPOLY
Levent Celik, CERGE-EI

 


15:00 - 17:00

INDUSTRIAL ORGANIZATION I (EEA)
Chairperson: Frank Verboven, K.U.Leuven

Room U-20


 

OPTIMAL NONLINEAR PRICING,BUNDLING COMMODITIES AND CONTINGENT SERVICES
Marion Podesta, LASER- University of Montpellier 1
Co-Author: Jean-Christophe Poudou, LASER

 

 

PUBLIC MARKETS TAILORED FOR THE CARTEL - FAVORITISM IN PROCUREMENT AUCTIONS -
Ariane Lambert-Mogiliansky, PSE (CNRS, ENPC, ENS), Paris
Co-Author: Gregory Kosenok, New Economic School

 

 

NON-EXCLUSIVITY AND ADVERSE SELECTION: AN APPLICATION TO THE ANNUITY MARKET
Gwenael Piaser, universite du Luxembourg

 


15:00 - 17:00

DEVELOPMENT (EEA)
Chairperson: Ludger Woessmann, University of Munich and Ifo Institute

Room U-21


 

IS THE RELATIONSHIP BETWEEN AID AND ECONOMIC GROWTH NONLINEAR?
Chih Ming Tan, Tufts University
Co-Authors: Andros Kourtellos, University of Cyprus and Xiaobo Zhang, International Food Policy Research Institute (IFPRI)

 

 

NON-AGRICULTURAL EMPLOYMENT AS PATHWAY OUT OF RURAL POVERTY? EVIDENCE FROM PERU
Erik Jonasson, Lund University

 

 

REPUTATION CONCERNS IN AID CONDITIONALITY
Ruxanda Berlinschi, Universite Sciences Sociales

 

 

THE ROLE OF SCHOOL IMPROVEMENT IN ECONOMIC DEVELOPMENT
Ludger Woessmann, University of Munich and Ifo Institute
Co-Author: Eric A. Hanushek, Hoover Institution, Stanford University

 


15:00 - 17:00

PHILLIPS CURVE (EEA)
Chairperson: Serguei Maliar, University of Alicante

Room U-10


 

WHY IS THE NEW KEYNESIAN PHILLIPS CURVE APPARENTLY FLAT?
Keith Kuester, European Cental Bank
Co-Authors: Gernot Müller, Goethe University Frankfurt and Sarah Stolting, European University Institute

 

 

PHILLIPS CURVE OR WAGE CURVE? EVIDENCE FROM WEST GERMANY: 1980-2004
Uwe Blien, Institute for Employment Research
Co-Authors: Badi Baltagi, Syracuse University and Katja Wolf, Institute for Employment Research

 

 

A STRUCTURAL EVALUATION OF THE SACRIFICE RATIO IN THE EURO AREA
Jerome Coffinet, Banque de France

Co-authors: Julien Matheron, Banque de France, Celine Pilly, Banque de France

 

 

DOWNWARD NOMINAL WAGE RIGIDITY: THE IMPLICATIONS FROM A NEW-KEYNESIAN MODEL
Serguei Maliar, University of Alicante
Co-Authors: Liudmyla Hvozdyk, University of Cambridge and Lilia Maliar, Universidad de Alicante

 


15:00 - 17:00

MONETARY POLICY (EEA)
Chairperson: Juha Kilponen, Bank of Finland

Room U-9


 

MANAGING UNCERTAINTY THROUGH ROBUST-SATISFICING MONETARY POLICY
Q. Farooq Akram, Norges Bank
Co-Authors: Yakov Ben-Haim, Technion, Israel Institute of Technology and Řyvind Eitrheim, Norges Bank

 

 

LIQUIDITY RISK AND MONETARY POLICY
Stephan Sauer, University of Munich

 

 

DISCRETION AND THE TRANSMISSION LAGS OF MONETARY POLICY
Juha Kilponen, Bank of Finland
Co-Author: Kai Leitemo, Norwegian School of Management and Bank of Finland

 


 

 

WAGE SETTING ACTORS, STICKY WAGES, AND OPTIMAL MONETARY POLICY
Miguel Casares, Universidad Pública de Navarra

 


15:00 - 17:00

INTERNATIONAL BANKING AND THE MACROECONOMY (EEA)
Chairperson: Wiljhelm Althammer, HHL - Leipzig Graduate School of Management

Room U-4


 

INTERNATIONAL BANK PORTFOLIOS AND THE TRANSMISSION OF SHOCKS
Sven Blank, University of Tuebingen
Co-Author: Claudia Buch, University Tuebingen

 

 

INTERNATIONAL BANKING AND THE ALLOCATION OF RISK
Katja Neugebauer, University of Tuebingen
Co-Authors: Claudia Buch, University Tuebingen and Gayle DeLong, Baruch College, New York

 

 

DO FOREIGN OWNED BANKS AFFECT BANKING SYSTEM LIQUIDITY RISK?
Valeriya Dinger, University of Bonn

 

 

HOW FOREIGNERS TOOK OVER THE BANKING MARKETS IN TRANSITION
Wiljhelm Althammer, HHL - Leipzig Graduate School of Management
Co-Author: Rainer Haselmann, Mainz University

 


15:00 - 17:00

HEALTH III (EEA)
Chairperson: Martin Salm, MEA, University of Mannheim

Room U-3


 

SPENDING TO SAVE? STATE HEALTH EXPENDITURE AND INFANT MORTALITY IN INDIA
Sonia Bhalotra, University of Bristol, UK

 

 

THE GROWTH IMPACT OF ALTERNATIVE CHILD CARE POLICIES
Alessandro Sommacal, Université Catholique de Louvain
Co-Author: Alessandra Casarico,

 

 

INFANT MORTALITY AND CHILD NUTRITION IN BANGLADESH: MODELLING SAMPLE SELECTION USING COPULAS
Diane Dancer, University of Sydney
Co-Authors: Anu Rammohan, University of Sydney and Murray Smith, University of Aberdeen

 

 

THE CAUSAL EFFECT OF PENSIONS ON LONGEVITY. EVIDENCE FROM UNION ARMY VETERANS
Martin Salm, MEA, University of Mannheim
Co-Author: Frank Sloan, Duke University

 


15:00 - 17:00

MIGRATION II (EEA)
Chairperson: Roland Rathelot, INSEE-CREST

Room U-6



 

 

IMMIGRANT ASSIMILATION IN A BILINGUAL COUNTRY
Gregory Verdugo, Université de Toulouse
Co-Author: Javier Ortega, Université de Toulouse, London School of Economics, CEPR, IZA

 

 

CIVIC PARTICIPATION OF IMMIGRANTS: CULTURE TRANSMISSION OR ASSIMILATION?
Mariya Aleksynska, Universita Luigi Bocconi

 

 

SOCIAL EXCLUSION OF IMMIGRANTS IN GERMANY
John Haisken-DeNew, RWI Essen
Co-Author: Mathias Sinning, RWI Essen

 

 

WAGES AND EMPLOYMENT OF SECOND-GENERATION IMMIGRANTS IN FRANCE
Roland Rathelot, INSEE-CREST
Co-Authors: Romain Aeberhardt, INSEE-CREST, Denis Fougčre, CNRS,CREST-INSEE,CEPR,IZA and Julien Pouget, DREES-CREST-IZA

 


15:00 - 17:00

LABOR MARKETS: CAREER AND WAGES (EEA)
Chairperson: Pablo Casas-Arce, Universitat Pompeu Fabra

Room U-19


 

ON THE OPTIMAL COMBINATION OF PROMOTION TOURNAMENTS AND INDIVIDUAL PERFORMANCE PAY
Anja Schöttner, Humboldt University Berlin
Co-Author: Veikko Thiele, UBC Vancouver

 

 

THE RISE OF INDIVIDUAL PERFORMANCE PAY
Ola Kvalřy, University of Stavanger
Co-Author: Trond E. Olsen, Norwegian School of Economics and BA

 

 

OPTIMAL GROUP INCENTIVES WITH SOCIAL PREFERENCES AND SELF-SELECTION
Sabrina Teyssier, GATE - University Lyon 2

 

 

CAREER TOURNAMENTS
Pablo Casas-Arce, Universitat Pompeu Fabra

 


15:00 - 17:00

ECONOMICS OF EDUCATION II (EEA)
Chairperson: Yves Zenou, Research Institute of Industrial Economics

Room U-13


 

DOES MOBILITY OF EDUCATED WORKERS UNDERMINE DECENTRALIZED EDUCATION POLICIES?
Christiane Schuppert, University of Dortmund

 

 

ENCLAVES, PEER EFFECTS AND STUDENT LEARNING OUTCOMES
Jane Friesen, Simon Fraser University
Co-Author: Brian Krauth, Simon Fraser University

 

 

LEARNING AND PEER EFFECTS
Gerald Eisenkopf, University of Konstanz

 


 

 

RACIAL IDENTITY AND EDUCATION
Yves Zenou, Research Institute of Industrial Economics
Co-Author: Eleonora Patacchini, University of Roma "La Sapienza"

 


15:00 - 17:00

LABOUR SUPPLY (EEA)
Chairperson: Martin Ljunge, University of Copenhagen

Room U-18


 

OPTIMAL INCOME TAXATION OF LONE MOTHERS: AN EMPIRICAL COMPARISON FOR BRITAIN AND GERMANY
Peter Haan, DIW Berlin
Co-Authors: Richard Blundell, Mike Brewer, and Andrew Shephard, IFS

 

 

THE IMPACT OF POTENTIAL LABOR SUPPLY ON LICENSING EXAM DIFFICULTY IN THE US MARKET FOR LAWYERS
Mario Pagliero, University of Turin

 

 

INTRODUCING FAMILY TAX SPLITTING IN GERMANY: HOW WOULD IT AFFECT THE INCOME DISTRIBUTION AND WORK INCENTIVES
Katharina Wrohlich, DIW Berlin
Co-Author: Viktor Steiner, DIW Berlin, FU Berlin

 

 

HALF THE JOB IS SHOWING UP: RETURNS TO WORK, TAXES, AND SICK LEAVE CHOICES
Martin Ljunge, University of Copenhagen

 


15:00 - 17:00

VOTING RULES, LOBBYING AND ECONOMIC OUTCOMES (EEA)
Chairperson: Cristina Terra, EPGE/Fundaçăo Getulio Vargas

Room U-22


 

QUORUM AND TURNOUT IN REFERENDA
Andrea Mattozzi, Caltech
Co-Author: Helios Herrera, SIPA and ITAM-CIE

 

 

HOW DO ELECTORAL RULES AFFECT ECONOMIC POLICY? EVIDENCE FROM STATE AND LOCAL GOVERNMENTS
Patricia Funk, University Pompeu Fabra
Co-Author: Christina Gathmann, Stanford University

 

 

THE IMPACT OF REFERENDUMS ON THE CENTRALISATION OF PUBLIC GOODS PROVISION: A POLITICAL ECONOMY APPROACH
Jan Schnellenbach, University of Heidelberg
Co-Authors: Lars Feld, University of Heidelberg and Christoph Schaltegger, Swiss Federal Tax Administration

 

 

POLITICAL BUSINESS CYCLES THROUGH LOBBYING
Cristina Terra, EPGE/Fundaçăo Getulio Vargas
Co-Author: Marco Bonomo, EPGE/Fundaçăo Getulio Vargas and CIREQ

 


15:00 - 17:00

EXPERIMENTS (EEA)
Chairperson: Dirk Engelmann, Royal Holloway, University of London

Room U-8



 

 

COOPERATION IN VISCOUS POPULATIONS - EXPERIMENTAL EVIDENCE
Veronika Grimm, University of Cologne

 

 

FLEXIBLE APPROXIMATIONS OF SUBJECTIVE EXPECTATIONS -AN APPLICATION TO THE INVESTMENT GAME-
Sabine Kröger, Laval University
Co-Authors: Charles Bellemare, Laval University and Luc Bissonnette, Laval University

 

 

COORDINATION AND LEARNING IN DYNAMIC GLOBAL GAMES: EXPERIMENTAL EVIDENCE
Olga Shurchkov, MIT

 

 

MAXIMUM EFFORT IN THE MINIMUM EFFORT GAME
Dirk Engelmann, Royal Holloway, University of London
Co-Author: Hans Normann, Royal Holloway, University of London

 


15:00 - 17:00

EXCHANGE RATE PASS THROUGH (EEA)
Chairperson: Osbat Chiara, European Central Bank

Room U-12


 

ASSESSING THE STRUCTURAL VAR APPROACH TO EXCHANGE RATE PASS-THROUGH
Ida Wolden Bache, Norges Bank (Central Bank of Norway)

 

 

HAS EXCHANGE RATE PASS-THROUGH REALLY DECLINED? EVIDENCE FROM CANADA
Hafedh Bouakez, HEC Montreal
Co-Author: Nooman Rebei, Bank of Canada

 

 

QUALITY SWITCHING AND EXCHANGE RATE PASS-THROUGH
Aurora Ascione, European University Insitute

 

 

SECTORAL EXCHANGE RATE PASS-THROUGH IN THE EURO AREA
Osbat Chiara, European Central Bank
Co-Author: Martin Wagner, Institute for Advanced Studies VIenna

 


15:00 - 17:00

GLOBALIZATION, FINANCIAL DEVELOPMENT AND THE MACROECONOMY (EEA)
Chairperson: Fernando Broner, CREI and Universitat Pompeu Fabra

Room U-15


 

GLOBALIZATION, TRADE UNIONS AND AGGREGATE DEMAND EFFECTS
Nicolas Schutz, Paris-Jourdan Sciences Economiques (PSE)

 

 

FINANCIAL DEVELOPMENT AND WAGE INEQUALITY: THEORY AND EVIDENCE FROM US STATES
Malhar Nabar, Wellesley College
Co-Author: Michal Jerzmanowski, Clemson University

 

 

RETHINKING THE EFFECTS OF FINANCIAL LIBERALIZATION
Fernando Broner, CREI and Universitat Pompeu Fabra
Co-Author: Jaume Ventura, CREI and Universitat Pompeu Fabra

 

 

TECHNOLOGY TRADE IN ECONOMIC DEVELOPMENT
Jose Luis Groizard, Universitat de les Illes Balears
Co-Author: Matthias Busse, Hamburg Institute of International Economics HWWI

 


15:00 - 17:00

BUSINESS CYCLE: VOLATILITY AND MONETARY POLICY (EEA)
Chairperson: Pooyan Amir Ahmadi, Humboldt University Berlin

Room U-17


 

THE GREAT DEPRESSION IN BELGIUM FROM A NEOCLASSICAL PERSPECTIVE
Luca Pensieroso, Université Catholique de Louvain

 

 

FIRM DEFAULT AND AGGREGATE FLUCTUATIONS
Kasper Roszbach, Sveriges Riksbank (Bank of Sweden)
Co-Authors: Tor Jacobson, Sveriges Riksbank (Bank of Sweden), Jesper Lindé, Sveriges Riksbank (Bank of Sweden) and Rikard Nilsson, Svenska Handelsbanken

 

 

INTEREST RATES AND REAL BUSINESS CYCLES IN EMERGING MARKETS
S. Tolga Tiryaki, University of York

 

 

MONETARY POLICY DURING THE GREAT DEPRESSION: A BAYESIAN FAVAR APPROACH
Pooyan Amir Ahmadi, Humboldt University Berlin
Co-Author: Albrecht Ritschl, Humboldt University Berlin

 


15:00 - 17:00

CORRUPTION (EEA)
Chairperson: Ricardo Paredes, Pontificia Universidad Católica de Chile

Room U-7


 

COMPETITION IN BUREAUCRACY AND CORRUPTION
Mikhail Drugov, University of Oxford, Nuffield College

 

 

UNCOORDINATED CORRUPTION AS AN EQUILIBRIUM PHENOMENON
Hans Zenger, University of Munich

 

 

CORRUPTION, GOVERNMENT SIZE AND GROWTH IN ECONOMIES WITH AN INFORMAL SECTOR
António Antunes, Banco de Portugal

 

 

JUDICIAL AUCTIONS: BETTER WITHOUT PROTECTION?
Ricardo Paredes, Pontificia Universidad Católica de Chile
Co-Authors: Andrés Crisosto, Universidad Católica de Chile and Phillipe Marti, Universidad Católica de Chile

 


15:00 - 17:00

CURRENT ACCOUNT ADJUSTMENT AND VALUATION EFFECTS (EEA)
Chairperson: Mathias Hoffmann, University of Cologne

Room U-11


 

ASSET PRICES, EXCHANGE RATES AND THE CURRENT ACCOUNT
Luciana Juvenal, University of Warwick
Co-Authors: Marcel Fratzscher, ECB and Lucio Sarno, Warwick Business School

 

 

GLOBAL IMBALANCES AND THE US CURRENT ACCOUNT: DO SUPPLY-SIDE CHANGES LESSEN THE EXCHANGE RATE ADJUSTEMENT?
Michael Fidora, European Central Bank
Co-Authors: Philipp Engler, Freie Universität Berlin and Christian Thimann, European Central Bank

 

 

CURRENT ACCOUNT REVERSALS AND LONG TERM IMBALANCES: APPLICATION TO THE CENTRAL AND EASTERN EUROPEAN COUNTRIES
Olena Havrylchyk, CEPII
Co-Author: Kenza Benhima, CREST, University of Paris X - Nanterre

 

 

COMPOSITION OF FOREIGN ASSETS: THE VALUATION-EFFECT AND MONETARY POLICY
Mathias Hoffmann, University of Cologne
Co-Author: Caroline Schmidt, ETH Zürich

 


15:00 - 17:00

POVERTY AND SEGREGATION (EEA)
Chairperson: Angelo Mele, University of Illinois at Urbana Champaign

Room U-14


 

A DUAL-REGIME UTILITY MODEL FOR POVERTY ANALYSIS
Biancotti Claudia, Bank of Italy

 

 

CHANGES IN DETERMINANTS OF POVERTY AND INEQUALITY DURING TRANSITION: HOUSEHOLD SURVEY EVIDENCE FROM UKRAINE
Natalia Weißhaar, DIW Berlin and Humboldt University, Berlin
Co-Authors: Tilman Brück, DIW Berlin, Humboldt University Berlin and IZA, Alexander M. Danzer, DIW Berlin and Humboldt University Berlin and Alexander Muravyev, European University Institute and DIW Berlin

 

 

THE EFFECT OF SEGREGATION AND SPATIAL MISMATCH ON UNEMPLOYMENT: EVIDENCE FROM FRANCE
Harris Selod, Paris School of Economics
Co-Author: Laurent Gobillon, INED

 

 

HOW TO MEASURE SEGREGATION
Angelo Mele, University of Illinois at Urbana Champaign

 


15:00 - 17:00

SOVEREIGN RISK (EEA)
Chairperson: David Hauner, International Monetary Fund

Room A-5


 

DETERMINANTS OF SOVEREIGN RISK: MACROECONOMIC FUNDAMENTALS AND THE PRICING OF SOVEREIGN DEBT
Yves Nosbusch, London School of Economics
Co-Author: Jens Hilscher, Brandeis University

 

 

EMERGING DEBT MARKETS: WHAT DO CORRELATIONS AND SPREADS TELL US?
Irina Bunda, Laboratoire d''Economie d''Orléans (LEO)
Co-Authors: A. Javier Hamann, International Monetary Fund (IMF-IEO) and Subir Lall, International Monetary Fund (IMF-RES)

 

 

COORDINATION CLAUSES AND THE PRICE OF SOVEREIGN DEBT
Ossip Robert Huhnerbein, Munich Graduate School of Economics & Financial Markets Group, London School of Economics and Political Science

 

 

POLICY CREDIBILITY AND SOVEREIGN CREDIT: THE CASE OF THE NEW EU MEMBER STATES
David Hauner, International Monetary Fund
Co-Authors: Jiri Jonas, IMF and Manmohan S. Kumar, IMF

 


15:00 - 17:00

RISK, IDEAS AND ENTREPRENEURSHIP (EEA)
Chairperson: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia

Room U-2


 

RISKY EARNINGS AND ENTREPRENEURIAL CHOICE – AN ESTIMATED MODEL
Frank Fossen, DIW Berlin

 

 

HOUSEHOLD WEALTH AND ENTREPRENEURSHIP: IS THERE A LINK?
Silvia Magri, Bank of Italy

 

 

SPINOFFS AND THE MARKET FOR IDEAS
Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
Co-Author: Esteban Rossi-Hansberg, Princeton University

 


15:00 - 17:00

CONTRIBUTED SESSIONS 2
ESEM: Theoretical and Applied Economics


 


15:00 - 17:00

AUCTIONS I (ESEM TAE)
Chairperson: Aner sela, Ben-Gurion University

Room B-4


 

AFFILIATION, EQUILIBRIUM EXISTENCE AND THE REVENUE RANKING OF AUCTIONS
Luciano de Castro, Universidad Carlos III de Madrid

 

 

AN EXPERIMENT ON AUCTION FEVER
Marion Ott, University of Karlsruhe
Co-Authors: Susanne Abele, Miami University, Oxford and Karl-Martin Ehrhart, University of Karlsruhe

 

 

THE MORE THE MERRIER? NUMBER OF BIDDERS, RENEGOTIATION AND WINNER’S CURSE IN TOLL ROAD CONCESSIONS
Laure Athias, University of Paris 1 Sorbonne - ATOM
Co-Author: Antonio Nunez, LET - University of Lyon

 

 

COMPETING AUCTIONS WITH ENDOGENOUS QUANTITIES
Aner sela, Ben-Gurion University
Co-Authors: Benny Moldovanu, Bonn University and Xianwen Shi, Yale University

 


15:00 - 17:00

COMPETITION IN NETWORKS AND TWO-SIDED MARKETS (ESEM TAE)
Chairperson: Andras Niedermayer, University of Bern

Room B-1


 

COMPETING TRANSPORT NETWORKS
Marco van der Leij, University of Alicante

 

 

PRICE DISCRIMINATION IN TWO-SIDED MARKETS
Konstantinos Serfes, Drexel University
Co-Author: Qihong Liu, University of Oklahoma

 

 

IS THERE COMPETITION IN CROSS-BORDER TRADE OF ELECTRICITY? THEORY AND EVIDENCE FROM EUROPEAN ELECTRICITY MARKETS
Georg Gebhardt, University of Munich
Co-Author: Felix Hoeffler, Max Planck Institute for Research on Collective Goods

 

 

INTERMEDIATION WITH PERCENTAGE FEES
Andras Niedermayer, University of Bern
Co-Author: Simon Loertscher, University of Melbourne

 


15:00 - 17:00

CONTRACT THEORY I (ESEM TAE)
Chairperson: Helmut Bester, Free University Berlin

Room B-13


 

INFORMED PRINCIPAL IN QUASI-LINEAR ENVIRONMENTS
Tymofiy Mylovanov, University of Bonn
Co-Author: Thomas Troger, University of Bonn

 

 

MULTIATTRIBUTE SCREENING
Thomas Weber, Stanford University

 

 

THE STRATEGIC VALUE OF INCOMPLETE CONTRACTS FOR COMPETING HIERARCHIES
Salvatore Piccolo, University of Salerno and GREMAQ (Toulouse)
Co-Author: David Martimort,

 

 

DELEGATION AND INCENTIVES
Helmut Bester, Free University Berlin
Co-Author: Daniel Krähmer, Free University Berlin

 


15:00 - 17:00

ENVIRONMENTAL ECONOMICS (ESEM TAE)
Chairperson: Alan Woodland, University of Sydney

Room B-2


 

HABIT FORMATION IN AN ENDOGENOUS GROWTH MODEL WITH POLLUTION ABATEMENT ACTIVITIES
Masako Ikefuji, Osaka University

 

 

INNOVATION WITHOUT MAGIC BULLETS: STOCK POLLUTION AND R&D SEQUENCES
Grischa Perino, University of Heidelberg
Co-Author: Timo Goeschl, University of Heidelberg

 

 

ON THE OPTIMAL TAXATION OF AN EXHAUSTIBLE RESOURCE UNDER MONOPOLISTIC EXTRACTION
Julien Daubanes, University of Toulouse 1 (MPSE and LERNA)

 

 

THE SHORT AND LONG RUN EFFECTS OF TIED FOREIGN AID ON POLLUTION ABATEMENT, POLLUTION AND EMPLOYMENT: A PILOT MODEL
Alan Woodland, University of Sydney
Co-Author: Albert Schweinberger, University of Konstanz

 


15:00 - 17:00

EXPERIMENTAL ECONOMICS (ESEM TAE)
Chairperson: Gianni De Fraja, University of Leicester

Room B-5


 

COOPERATION OVER FINITE HORIZONS: A THEORY AND EXPERIMENTS
Attila Ambrus, Harvard University

 

 

DUMBING DOWN RATIONAL PLAYERS: LEARNING AND TEACHING IN AN EXPERIMENTAL GAME
Antoine Terracol, Equippe, Université Lille 3
Co-Author: Jonathan Vaksmann, Université Paris 1 Panthéon-Sorbonne

 

 

IS THE VEIL OF IGNORANCE ONLY A CONCEPT ABOUT RISK? AN EXPERIMENT
Hannah Hoerisch, University of Munich, Seminar for Economic Theory

 

 

THE ORIGIN OF UTILITY
Gianni De Fraja, University of Leicester

 


15:00 - 17:00

LAW AND ECONOMICS (ESEM TAE)
Chairperson: Giovanni Immordino, CSEF, University of Salerno

Room B-6


 

BREAKING THE LAW WHEN OTHERS DO: A MODEL OF LAW ENFORCEMENT WITH EXTERNALITIES
Rosa Ferrer, Vanderbilt University

 

 

ECONOMIC ANALYSIS OF PATENT LAW EXEMPTION FOR RESEARCH ON A PATENTED INNOVATION
Sadao Nagaoka, Hitotsubashi University
Co-Author: Reiko Aoki, Hitotsubashi University

 

 

LAWYER ADVICE AND EVIDENCE DISCLOSURE
Sergei Severinov, Duke University

 

 

NORM FLEXIBILITY AND PRIVATE INITIATIVE
Giovanni Immordino, CSEF, University of Salerno
Co-Authors: Marco Pagano, University of Naples Federico II and Michele Polo, Bocconi University

 


15:00 - 17:00

LEARNING IN GAMES (ESEM TAE)
Chairperson: Ulrich Berger, Vienna University of Economics and Business Administration

Room B-3


 

EFFICIENT DYNAMIC COORDINATION WITH PRIVATE LEARNING
Jakub Steiner, University of Edinburgh
Co-Authors: Amil Dasgupta, LSE and Colin Stewart, Yale

 

 

LEARNING ACROSS GAMES
Friederike Mengel, University of Alicante

 


 

 

LEARNING WITHIN A MARKOVIAN ENVIRONMENT
Rivas Javier, European University Insititute

 

 

BROWN’S ORIGINAL FICTITIOUS PLAY
Ulrich Berger, Vienna University of Economics and Business Administration

 


15:00 - 17:00

MACROECONOMICS AND HETEROGENEITY (ESEM TAE)
Chairperson: Junko Doi, Kansai University

Room B-11


 

ENDOGENOUS MARKET INCOMPLETENESS, ENTREPRENEURIAL RISK AND THE BUSINESS CYCLE
Ander Perez, London School of Economics

 

 

A MODEL OF CREDIT LIMITS AND BANKRUPTCY WITH APPLICATIONS TO WELFARE AND INDEBTEDNESS
Xavier Mateos-Planas, University of Southampton

 

 

CREDIT CONSTRAINTS, ENTREPRENEURIAL ACTIVITY AND OCCUPATIONAL CHOICE UNDER RISK
Maik Heinemann, University of Lüneburg
Co-Author: Christiane Clemens, University of Magdeburg

 

 

A VARIETY EXPANSION MODEL WITH RENT SEEKING ACTIVITIES
Junko Doi, Kansai University
Co-Author: Zhiwei Cen, Kyoto Sangyo University

 


15:00 - 17:00

PENSION SYSTEMS AND GROWTH (ESEM TAE)
Chairperson: Andreas Irmen, University of Heidelberg

Room U-16


 

ALTERNATIVE PENSION SYSTEMS AND GROWTH
Michael Kaganovich, Indiana.University
Co-Author: Itzhak Zilcha, Tel Aviv University

 

 

EQUILIBRIUM PRICE DYNAMICS IN AN OVERLAPPING-GENERATIONS EXCHANGE ECONOMY
Paulo Brito, Technical University of Lisbon
Co-Author: Rui Dilao, Technical University of Lisbon

 

 

THE ROLE OF PENSION SYSTEMS AND DEMOGRAPHIC CHANGE ON ASSET PRICES AND CAPITAL FORMATION
Marten Hillebrand, Bielefeld University

 

 

POPULATION, PENSIONS, AND ENDOGENOUS ECONOMIC GROWTH
Andreas Irmen, University of Heidelberg
Co-Author: Burkhard Heer, Free University of Bolzano

 


15:00 - 17:00

CONTRIBUTED SESSIONS 2
ESEM: Econometrics and Empirical Economics


 



 

15:00 - 17:00

APPLIED MICROECONOMETRICS (ESEM EEE)
Chairperson: Matti Sarvimaki, Government Institute for Economic Research

Room B-7


 

INDIVIDUAL VS. AGGREGATE INCOME ELASTICITIES FOR HETEROGENEOUS POPULATIONS
Michal Paluch, Bonn Graduate School of Economic, University of Bonn
Co-Authors: Werner Hildenbrand, University of Bonn and Alois Kneip, University of Bonn

 

 

WOMEN'S ECONOMIC GAINS FROM EMPLOYMENT, MARRIAGE AND COHABITATION
Alita Nandi,  Institute for Social and Economic Research, University of Essex

 

 

CHANGES IN QUALITY-ADJUSTED COLLEGE PREMIUM IN THE UNITED STATES, 1960-2000
Simon Lee, UCL
Co-Author: Pedro Carneiro, UCL

 

 

LONG-TERM EFFECTS OF FORCED MIGRATION
Matti Sarvimaki, Government Institute for Economic Research
Co-Authors: Markus Jantti, Abo Akademi University and Roope Uusitalo, Helsinki School of Economics

 


15:00 - 17:00

ASSET PRICING MODELS (ESEM EEE)
Chairperson: Emanuel Moench, University of Pennsylvania

Room B-9


 

PRESENT VALUE THEORY IMPLIES COBREAKING
Hans-Martin Krolzig, University of Kent
Co-Author: Juan Toro, Transmarket Group

 

 

THE EFFICIENCY OF RISK SHARING BETWEEN UK AND US: ROBUST ESTIMATION AND CALIBRATION UNDER MARKET INCOMPLETENESS
Marcelo Fernandes, Queen Mary, University of London
Co-Author: Jose Gil Vieira Filho, University of Chicago

 

 

ASSET ALLOCATION BY PENALIZED LEAST SQUARES
Simone Manganelli, European Central Bank

 


15:00 - 17:00

ASYMPTOTIC THEORY (ESEM EEE)
Chairperson: Rickard Sandberg, Stockholm School of Economics

Room B-10


 

CONVERGENCE TO STOCHASTIC POWER INTEGRALS FOR DEPENDENT HETEROGENEOUS PROCESSES
Rickard Sandberg, Stockholm School of Economics

 

 

THE ASYMPTOTICS OF LONG-RUN PARAMETERS
Robert de Jong, Ohio State University

 

 

EFFICIENT M-ESTIMATORS WITH AUXILIARY INFORMATION
Francesco Bravo, University of York

 

 

MAXIMIZATION BY PARTS IN EXTREMUM ESTIMATION
Sergio Pastorello, Dipartimento di Scienze Economiche, Universitŕ di Bologna
Co-Authors: Yanqin Fan, Department of Economics, Vanderbilt University, Nashville, Tennessee and Eric Renault, North Carolina

 


15:00 - 17:00

COINTEGRATION 1 (ESEM EEE)
Chairperson: Peter Boswijk, University of Amsterdam

Room B-12


 

A SINGLE-EQUATION COINTEGRATION ESTIMATOR ROBUST TO VARIANCE BREAKS
Nikolaos Kourogenis, Department of Banking and Financial Management, University of Piraeus
Co-Authors: Ekaterini Panopoulou, Department of Statistics & Insurance Science, University of Piraeus and Nikitas Pittis, Department of Banking and Financial Management, University of Piraeus

 

 

SHIFTS IN THE UNEMPLOYMENT RATE: THE ROLE OF PRODUCTIVITY GROWTH
Sven Schreiber, Goethe University Frankfurt

 

 

TESTING FOR COINTEGRATION WITH NONSTATIONARY VOLATILITY
Peter Boswijk, University of Amsterdam
Co-Author: Yang Zu, University of Amsterdam

 


15:00 - 17:00

CONTINUOUS TIME (ESEM EEE)
Chairperson: Christian Pigorsch, LMU Munich

Room U-2/A


 

A MULTIVARIATE GENERALIZATION OF THE ORNSTEIN-UHLENBECK STOCHASTIC VOLATILITY MODEL
Christian Pigorsch, LMU Munich
Co-Author: Robert Stelzer, Munich University of Technology

 

 

TESTING HOMOGENEITY OF TIME-CONTINUOUS RATING TRANSITIONS
Rafael Weissbach, University of Dortmund
Co-Authors: Claudia Lawrenz, WestLB AG and Patrick Tschiersch, WestLB AG

 

 

OPTION PRICING UNDER STOCHASTIC VOLATILITY AND TRADING VOLUME
Sadayuki Ono, University of York, Department of Economics and Related Studies

 


15:00 - 17:00

ECONOMETRICS OF BUSINESS CYCLE (ESEM EEE)
Chairperson: Guido Bulligan, Bank of Italy

Room A-6


 

LEADING INDICATORS FOR THE EURO AREA BUSINESS CYCLE
Guido Bulligan, Bank of Italy
Co-Authors: Michele Caivano, , Fabrizio Calabrese, and silvio colarossi,

 

 

THE EFFECTS OF A GOVERNMENT EXPENDITURE SHOCK
Bernardino Adao, Banco de Portugal

 

 

SIGN RESTRICTIONS ARE MORE ROBUST THAN LONG-RUN RESTRICTIONS IN STRUCTURAL VARS
Zsolt Darvas, Corvinus University of Budapest

 

 

THE LONG SHADOW OF “AUSTROKEYNESIANISM”? PUBLIC DEBT SUSTAINABILITY IN AUSTRIA
Reinhard Neck, Klagenfurt University
Co-Author: Gottfried Haber, Klagenfurt University

 


15:00 - 17:00

FINANCIAL ECONOMETRICS 1 (ESEM EEE)
Chairperson: Keiichi Kubota, Musashi University

Room A-4


 

INFORMAION BASED TRADE, PIN VARIABLE, AND PORTFOLIO STYLE DIFFERENCES: EVIDENCE FROM TOKYO STOCK EXCHANGE FIRMS
Keiichi Kubota, Musashi University
Co-Author: Hitoshi Takehara, Waseda University

 

 

DYNAMIC FACTOR ANALYSIS OF INDUSTRY SECTOR DEFAULT RATES AND IMPLICATION FOR PORTFOLIO CREDIT RISK MODELLING
Andrea Cipollini, University of Essex
Co-Author: Giuseppe Missaglia, BNL Rome

 

 

PORTFOLIO SELECTION WITH ESTIMATION RISK: A TEST BASED APPROACH
Bertille Antoine, University of Montreal, CIREQ

 


15:00 - 17:00

METHODOLOGY (ESEM EEE)
Chairperson: Cecilia Frale, Univeristŕ degli Studi di Roma Tor Vergata

Room A-2


 

THE FIRST STAGE IN HENDRY'S REDUCTION THEORY REVISITED
Genaro Sucarrat, U. Carlos III de Madrid (Economics Dept.)

 

 

CONSISTENCY IN AGGREGATION AND QUASILINEAR INDEX NUMBERS
Heikki Pursiainen, University of Helsinki

 

 

MAXIMUM LIKELIHOOD ESTIMATION OF THE SYMMETRIC AND ASYMMETRIC
Bottazzi Giulio, LEM Scuola Superiore Sant'Anna
Co-Author: Angelo Secchi, LEM Scuola Superiore Sant'Anna

 

 

NEW PROPOSALS FOR THE QUANTIFICATION OF QUALITATIVE SURVEY DATA
Cecilia Frale, Univeristŕ degli Studi di Roma Tor Vergata
Co-Author: Tommaso Proietti, Universitŕ degli Studi di Roma Tor Vergata

 

 



15:00 - 17:00

NONPARAMETRIC METHODS 2 (ESEM EEE)
Chairperson: Miguel Delgado, UC3 Madrid

Room B-8


 

A NEW CLASS OF DISTRIBUTION-FREE TESTS FOR TIME SERIES MODELS SPECIFICATION
Miguel Delgado, UC3 Madrid
Co-Author: Carlos Velasco, UC3 Madrid

 

 

ONE FOR ALL AND ALL FOR ONE: DIMENSION REDUCTION FOR REGRESSION CHECKS
Pascal Lavergne, Simon Fraser University
Co-Author: VALENTIN PATILEA,

 

 

BLOCK BOOTSTRAP HAC ROBUST TESTS: THE SOPHISTICATION OF THE NAIVE BOOTSTRAP
Silvia Goncalves, Universite de Montreal
Co-Authors: Silvia Goncalves, Universite de Montreal and Timothy Vogelsang, Michigan State University

 

 

NONPARAMETRIC IDENTIFICATION OF SURVEY DESIGN EFFECTS WHEN INDIVIDUALS ARE BOUNDEDLY RATIONAL
Stefan Hoderlein, Mannheim University
Co-Author: Joachim Winter, Munich University

 


15:00 - 17:00

VOLATILITY 1 (ESEM EEE)
Chairperson: 

Room A-7


 

SEMIPARAMETRIC APPROACHES TO THE PREDICTION OF CONDITIONAL CORRELATION MATRICES IN FINANCE
Vasyl Golosnoy, University of Kiel
Co-Author: Helmut Herwartz, Kiel University

 

 

TESTING FOR VOLATILITY INTERACTIONS IN THE CONSTANT CONDITIONAL CORRELATION GARCH MODEL
Tomoaki Nakatani, Stockholm School of Economics
Co-Author: Timo Teräsvirta, University of Aarhus

 


17:00 - 17:30

COFFEE BREAK


 


17:30 - 19:30

ECONOMETRIC SOCIETY  PRESIDENTIAL ADDRESS

HOTEL INTERCONTINENTAL


17:30 - 19:30

PRESIDENTIAL ADDRESS (ECONOMETRIC SOCIETY)
Chairperson: Richard Blundell, University College London

Room InterContinental


 

RISK OVER LONG HORIZONS: AN ECONOMETRIC PERSPECTIVE
Lars Peter Hansen, University of Chicago – President, Econometric Society

 

 


19:30 - 20:30

ECONOMETRIC SOCIETY  MEMBER MEETING

HOTEL INTERCONTINENTAL  



 

WEDNESDAY 29 AUGUST 2007


09:00 - 11:00

INVITED SESSIONS 2
EEA


 


09:00 - 11:00

DYNAMIC POLITICAL ECONOMY (EEA)
Chairperson: Daron Acemoglu, MIT

Room A-6


 

POLITICAL ECONOMY AND LONG-RUN TAXATION OF CAPITAL
Daron Acemoglu, MIT
Co-Authors: Mike Golosov, MIT and Oleg Tsyvinski, Federal Reserve Bank of Minneapolis

 

 

A DYNAMIC THEORY OF LEGISLATIVE POLICY MAKING
Marco Battaglini, Princeton University and Steve Coate, Cornell University

 

 

ON THE ROLE OF COMMITMENT IN A DYNAMIC MELTZER-RICHARD ECONOMY
Per Krusell , University of Rochester and IIES
Co-Authors: Marina Azzimonti, University of Iowa and Eva de Francisco, University of Rochester

 


09:00 - 11:00

APPLICATIONS IN ROBUST MECHANISM DESIGN (EEA)
Chairperson: Stephen E. Morris, Princeton University

Room A-5


 

IMPLEMENTATION WITH STRATEGIC SUBSTITUTES: THE ROLE OF THE COMMON PRIOR
Dirk Bergemann, Yale

 

 

ROBUST PRICING UNDER LARGE UNCERTAINTY
Karl Schlag, European University Institute

 

 

ROBUST BILATERAL TRADE AND MEDIATED BARGAINING?
Clara Ponsati, Institut d'Anŕlisi Econňmica - CSIC

 


09:00 - 11:00

DEBT, DEFAULT AND THE ROLE OF SECONDARY MARKETS (EEA)
Chairperson: Jaume Ventura, CREI and Universitat Pompeu Fabra

Room A-4


 

EMERGING MARKET LIQUIDITY AND CRISES
Sergio Schmukler, The World Bank

 

 

RANDOM ENFORCEMENT TECHNOLOGY AND SECONDARY MARKETS
Fernando Broner, CREI and Universitat Pompeu Fabra, Alberto Martin, CREI and Universitat Pompeu Fabra and Jaume Ventura, CREI and Universitat Pompeu Fabra

 


09:00 - 11:00

DECLINING MACROECONOMIC PREDICTABILITY (EEA)
Chairperson: Lucrezia Reichlin, ECB

Room U-9


 

FEDERAL RESERVE INFOMRATION DURING THE GREAT MODERATION

D''Agostino Antonello, Central Bank and Financial Services Authority of Ireland
Co-Author: Karl Whelan, University college London

 

 

EXPLAINING THE GREAT MODERATION: IT IS NOT CHOCKS!
Lucrezia Reichlin, ECB
Co-Authors: Domenico Giannone, ECARES-ULB and CEPR and Michele Lenza, European Central Bank

 

 

DECLINING PREDICTABILITY: CROSS-COUNTRY EVIDENCE
Luca Benati, European Central Bank

 


09:00 - 11:00

INVITED SESSIONS 2
ESEM: Theoretical and Applied Economics


 


09:00 - 11:00

POLITICAL ECONOMY (ESEM TAE)
Chairperson: Salvador Barbera, Universitat Autonoma de Barcelona

Room B-4


 

INFORMATION AGGREGATION AND COMMUNICATION IN COMMITTEES
David Austen-Smith, Northwestern University

 

 

LISTENING TO VOTERS: THE WELFARE EFFECTS OF PARTICIPATORY DEMOCRACY
Enriqueta Aragončs, Institut d'Anŕlisi Econňmica, CSIC

 


09:00 - 11:00

INVITED SESSIONS 2
ESEM: Econometrics and Empirical Economics


 


09:00 - 11:00

FINANCIAL ECONOMETRICS (ESEM EEE)
Chairperson: Neil Shephard, Nuffield College, Oxford

Room B-13


 

REALIZED VOLATILITY: CURRENT THEMES AND NEW DIRECTIONS
Tim Bollerslev, Duke University

 

 

DECO: DYNAMIC EQUICORRELATION MODELS FOR LARGE CORRELATION MATRICES
Robert F Engle, Department of Finance, Stern School of Business
Co-Author: Bryan Kelly

 


11:00 - 11:30

COFFEE BREAK


 


11:30 - 13:30

CONTRIBUTED SESSIONS 3
EEA


 


11:30 - 13:30

IO COMPETITION (EEA)
Chairperson: Gregor Zoettl, University of Cologne

Room U-21


 

PRODUCT AND PRICE COMPETITION IN A CROSS CITY MODEL
Hae Won Jung, Korea Advanced Institute of Science and Technology (KAIST)
Co-Author: S. Hun Seog, KAIST

 

 

COMPETITION AND REPUTATION
Paolo Vanin, University of Padua

 

 

DYNAMIC DUOPOLY WITH INATTENTIVE FIRMS
Ludwig Reßner, University of Munich
Co-Author: Markus Reisinger, University of Munich

 

 

CAPACITY CHOICE UNDER UNCERTAINTY: MARKET STRUCTURE AND WELFARE IMPLICATIONS
Gregor Zoettl, University of Cologne

 


11:30 - 13:30

IO: STANDARDS AND NETWORKS (EEA)
Chairperson: Pio Baake, German Institute for Economic Research

Room U-19


 

PRICING STRATEGIES IN SOFTWARE PLATFORMS: VIDEO CONSOLES VS. OPERATING SYSTEMS
María-Fernanda Viecens, Universidad Carlos III de Madrid

 

 

ON PLATFORMS, INCOMPLETE CONTRACTS, AND OPEN SOURCE SOFTWARE
Andras Niedermayer, University of Bern

 

 

COOPERATIVE VERSUS COMPETITIVE STANDARD SETTING
Jan Philipp Bender, University of Munich (LMU)
Co-Author: Klaus Schmidt, Munich

 

 

NEW NETWORKS, COMPETITION AND REGULATION
Pio Baake, German Institute for Economic Research
Co-Author: Ulrich Kamecke, Humboldt-Universität zu Berlin

 


11:30 - 13:30

GROWTH II (EEA)
Chairperson: Daniel Cardona, Universitat de les Illes Balears

Room U-6


 

FINITE HORIZON, EXTERNALITIES, AND GROWTH
Ronald Wendner, University of Graz, Austria

 

 

RETHINKING THE CONCEPT OF LONG-RUN ECONOMIC GROWTH
Christian Groth, University of Copenhagen
Co-Authors: Karl-Josef Koch, University of Siegen and Thomas M. Steger, ETH, Zürich

 

 

THREE THEOREMS ON GROWTH AND COMPETITION
Christian Bauer, Bavarian Graduate Program in Economics and Regensburg University
Co-Author: Lutz Arnold, University of Regensburg

 

 

COST-BASED MODELS OF ENDOGENOUS GROWTH
Daniel Cardona, Universitat de les Illes Balears
Co-Author: Fernando Sánchez-Losada, Universitat de Barcelona

 


11:30 - 13:30

BANK AND MONETARY POLICY (EEA)
Chairperson: De Fiore Fiorella, European Central Bank

Room U-1


 

IS THERE A BANK LENDING CHANNEL IN HUNGARY? EVIDENCE FROM BANK PANEL DATA
Anna Naszodi, National Bank of Hungary and Central European University
Co-Authors: Csilla Horvath, Nijmegen School of Management and Judit Kreko, National Bank of Hungary

 

 

UNDERSTANDING THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND MONETARY POLICY
Javier Gomez Biscarri, IESE - Universidad de Navarra
Co-Authors: Luis Carranza, Universidad de Navarra and Jose Enrique Galdon-Sanchez, Universidad Publica de Navarra

 

 

THE ROLE OF INTERBANK MARKETS IN MONETARY POLICY: A MODEL WITH RATIONING
Jose Jorge, CEMPRE, Faculdade Economia, Universidade Porto
Co-Author: Xavier Freixas, Universitat Pompeu Fabra, CEPR

 

 

BANK FINANCE VERSUS BOND FINANCE: IMPLICATIONS FOR MONETARY POLICY
De Fiore Fiorella, European Central Bank
Co-Author: Harald Uhlig, Humboldt University Berlin

 


11:30 - 13:30

INTERNATIONAL FINANCE (EEA)
Chairperson: Peter Benczur, National Bank of Hungary and Central European University

Room U-16


 

HOW DOES PRIVATE FOREIGN BORROWING AFFECT THE RISK OF SOVEREIGN DEFAULT IN DEVELOPING COUNTRIES?
Philipp Harms, RWTH Aachen University
Co-Author: Oya Celasun, International Monetary Fund, Research Dept.

 

 

THE IMPACT OF POLITICAL RISK ON SOVEREIGN BOND SPREADS - EVIDENCE FROM LATIN AMERICA
Christoph Moser, University of Mainz

 

 

DETERMINANTS OF SPREADS ON SOVEREIGN BANK LOANS: THE ROLE OF CREDIT HISTORY
Peter Benczur, National Bank of Hungary and Central European University
Co-Author: Cosmin Ilut, Northwestern University

 

 

OPTIMAL SOVEREIGN DEBT WRITE-DOWNS
Kannika Thampanishvong, University of St Andrews
Co-Author: Sayantan Ghosal,

 


11:30 - 13:30

HEALTH II (EEA)
Chairperson: Catherine Schaumans, K.U.Leuven

Room U-3


 

PUBLIC SERVICES AND LIFE SATISFACTION
Jani-Petri Laamanen, University of Tampere
Co-Author: Kaisa Kotakorpi, University of Tampere

 

 

FINANCING NUSING HOME CARE: NEW EVIDENCE ON SPEND-DOWN BEHAVIOR
Norma Coe, Tilburg University

 

 

THE POLITICAL ECONOMY OF STATE HEALTH EXPENDITURE IN INDIA
Juan Pedro Schmid, NADEL, ETH Zurich
Co-Author: Sonia Bhalotra, Department of Economics, University of Bristol

 

 

ENTRY AND REGULATION - EVIDENCE FROM HEALTH CARE PROFESSIONS
Catherine Schaumans, K.U.Leuven
Co-Author: Frank Verboven, K.U.Leuven

 


11:30 - 13:30

AGENCY (EEA)
Chairperson: Kouroche Vafai, Université Paris Descartes

Room U-14


 

EXISTENCE OF EQUILIBRIUM IN COMMON AGENCY GAMES WITH ADVERSE SELECTION
Guilherme Carmona, Universidade Nova de Lisboa
Co-Author: José Fajardo, IBMEC - Rio de Janeiro

 

 

MORALS AND CORRUPTION
Kouroche Vafai, Université Paris Descartes

 

 

ON MULTIPLE-PRINCIPAL MULTIPLE-AGENT MODELS OF MORAL HAZARD
Gwenael Piaser, Universite du Luxembourg
Co-Authors: Eloisa Campioni, Luiss - G. Carli University, Andrea Attar, IDEI, University of Toulouse I, and Uday Rajan, Ross School of Business, University of Michigan