Monday Lunch Seminars
Monday Lunch Seminars
Monday Lunch Seminars Suvi Vasama (Humboldt University of Berlin)
"Real Options and Dynamic Incentives" abstract We examine a dynamic principal-agent model in which the output is correlated over time. The optimal contract determines a payment schedule from the principal to the agent and a liquidation policy. Incentive compatibility, together with the agent’s limited liability, requires that the firm is liquidated following a history of low returns. With…
Monday Lunch Seminars Juan Ortner (Boston University)
"Making Collusion Hard: Asymmetric Information as a Counter-Corruption Measure"
Monday Lunch Seminars Andrea Vindigni
"Forbidden fruits: the political economy of science, religion, and growth"
Monday Lunch Seminars Carlo Prato (Georgetown)
"Crises and the Puzzle of Reforms" (Note: the seminar is on Thursday)
Monday Lunch Seminars Edward Timmons (Saint Francis University)
"More Battles Among Licensed Occupations: Estimating the Effects of Scope of Practice and Direct Access on the Chiropractic, Physical Therapist, and Physician Labor Market"
Monday Lunch Seminars Alessandro Barattieri (ESG UQAM)
"Average-Cost Pricing: Some Evidence and Implications" Abstract We present new survey evidence on pricing behavior for more than 14,000 European firms, and study its macroeconomic implications. Among firms that are price setters, roughly 75% respond that their prices are set as a markup on total costs, a business practice termed "full cost pricing''. Only 25%…
Monday Lunch Seminars Edoardo Grillo
"A Model of Educational Investment and Social Status"
Monday Lunch Seminars Edmund Cannon (University of Bristol)
"Surprising selection effects in the UK car insurance market" Abstract We document a large and persistent anomaly in the UK car insurance market over the period 2012-13: insurance companies charged higher premiums for third-party (liability) insurance than comprehensive insurance (where the latter includes third-party). In addition, some companies charged higher prices for comprehensive policies with…
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…