Monday Lunch Seminars
Monday Lunch Seminars
Monday Lunch Seminars Stefano Fenoaltea (University of Rome “Tor Vergata”)
"The fruits of disaggregation: the general engineering industry in Italy, 1861-1913" (Note: the seminar is on Thursday)
Monday Lunch Seminars Sandro Brusco (Stony Brook University)
"Reputational Concerns and Price Comovements"
Monday Lunch Seminars Nicola Branzoli (Bank of Italy)
"Non-linear pricing in the Italian market of bank accounts: market power or insurance?"
Monday Lunch Seminars CANCELLED: Nuria Legazpe Moraleja (University of Castilla – La Mancha)
"The Role of Education in Fertility and Female Labour Participation in Spain: A Simultaneous Approach"
Monday Lunch Seminars Federico Boffa (University of Macerata)
"Corruption, Accountability and Efficiency. An Application to Municipal Solid Waste Services" Download the paper
Monday Lunch Seminars Matteo Richiardi
"Twisted Kuznets Curves"
Monday Lunch Seminars Daniele Pennesi
"Asset prices in an ambiguous economy" abstract We price assets with ambiguous returns in a Lucas’ tree economy under general ambiguity sensitive inter-temporal utility. We provide intuitive conditions to guarantee existence and to characterize equilibria. Although we relax ambiguity aversion,portfolio inertia and excess volatility may obtain at the equilibrium, extending the results of Epstein and…
Monday Lunch Seminars Gerardo Ferrara
"Portfolio Optimization under Model Uncertainty" abstract This study proposes a novel methodology to deal with model uncertainty in forecasting stock returns. My main interest here is to overcome thetendency of Bayesian Model Averaging to give all of the weight to a single model. A potential solution of this problem is to capture thenature of the underlying data…
Monday Lunch Seminars Michela Altieri
"Group Affiliation, Implicit Guarantees and the Cost of Borrowing" abstract This paper investigates the effect of group affiliation on credit spreads of firm’s public debt. We analyse all the firms issuing publicdebt on the US Primary and Secondary market from 1980 until 2006, by comparing business groups and independent firms new issuances. Theresults show that controlled firms…
Monday Lunch Seminars Andrei Savochkin
“Mistake Aversion and a Theory of Robust Decision Making” Download the paper Abstract This paper studies the behavioral trait of aversion to making mistakes in the framework of choice under subjective uncertainty, assuming that the probabilities of outcomes are not exogenously specified. The decision procedure that is proposed to capture mistake aversion follows the general…
Monday Lunch Seminars Roberto Marfè
"Labor Relations, Endogenous Dividends and the Equilibrium Term Structure of Equity" abstract Leading asset pricing models are inconsistent with the recent empirical findings which document downward sloping term structures of equity risk and premia. This paper shows that a simple general equilibrium model can accommodate the stylized facts about dividend strips as long as dividend distributions endogenously obtain…
Monday Lunch Seminars Stefano Bolatto
"Trade across Countries and Manufacturing Sectors with Heterogeneous Trade Elasticities" abstract Over the last decade, quantitative models of international trade have given a strong boost to trade literature,as they provide an excellent framework for both general equilibrium counterfactual studies andempirical studies based on firm-level data. Many authors have also proposed their variants of some of…
Monday Lunch Seminars Guido Tintori
"Facts vs Narrative. A New Trend or More of the Same? A Critical Discussion on Recent Emigration from Italy" abstract According to media reports and raw official data, the economic crisis of 2008/9 has led to the recurrence of emigration from Italy. Emigration thus seems a path-dependent response in times of economic difficulty. In recent decades, Italy became…
Monday Lunch Seminars Bruno Contini
"Disposable workforce, long-term unemployment, out-of-the labour force or irregular work ? discovering the pathologies of the italian labour market" abstract Italy’s labour market suffers from a serious pathology, in addition to the increasing precariousness of the young workforce common to all EU member countries: flows from regular employment to non-employment are very often dead-ends. A vast…
Monday Lunch Seminars Pietro Garibaldi
"Labor and Finance: Mortensen and Pissarides meet Holmstrom and Tirole" abstract In real life labor markets firms hold at all times a variety of liquid assets not invested in their core business. Such external use of funds acts as an insurance against future adverse financial shocks, and typically varies across firms and sectors. As a…
Monday Lunch Seminars Henriette Prast
"Seven ways to knit your portfolio: can familiarity explain the gender gap in finance?" abstract We investigate whether the gender gap in measured financial literacy, risk attitudes and portfolio choice may be affected by a gender gap in familiarity with the language and product supply in the life cycle saving and investing industry. Familiarity is…
Monday Lunch Seminars Marian Vidal-Fernandez
"Early Origins of Birth Order Differences"
Monday Lunch Seminars Marco Airaudo
"Optimal monetary policy with counter-cyclical credit spreads" Abstract We study the consequences for monetary policy design of including deep habits in credit markets into the benchmark New-Keynesian DSGE model. Under deep habits, monopolistically competitive banks set lending rates in a forward-looking fashion: they internalize the fact that, due to habits in banking (which are meant…
Monday Lunch Seminars Jordi Vidal-Robert (University of Warwick)
"Habemus papam? Polarization and conflict in the Papal States" abstract Does increased disagreement among members of an elite translate into more conflict? Divisions among the elite might weaken the central authority, lowering its ability to suffocate revolts. In this paper we study the effect of division within elite groups on the probability of internal conflicts…