Monday Lunch Seminars
Monday Lunch Seminars
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…
Monday Lunch Seminars Edoardo Gallo (University of Cambridge)
"Social learning by chit-chat"
Monday Lunch Seminars Filippo Taddei
"International Capital Flows, Financial Frictions and Welfare" abstract The connection between the financial crisis of 2007-08 and global imbalances is controversial. We argue that the main reason why the relationship may be in place is due to the existence of financial frictions in domestic credit markets. We rationalize this point of view by developing a…
Monday Lunch Seminars Cristian Bartolucci
"Hold-up and Sorting"(Note: the seminar is on Thursday)
Monday Lunch Seminars Christopher Flinn
"Household Behavior and the Marriage Market"
Monday Lunch Seminars Ainhoa Aparicio Fenoll
"Recessions and Babies' Health"(Note: the seminar is on Wednesday)
Monday Lunch Seminars Benjamin Cowan (Washington State University)
"Testing for Educational Credit Constraints using Heterogeneity in Individual Time Preferences" (Note: the seminar is on Thursday)
Monday Lunch Seminars Dino Gerardi
"A Theory of Slow Trading in Bargaining" AbstractA seller dynamically sells a divisible good to a buyer. It is common knowledge that there are gains from trade and that the gains per-unit are decreasing. Payoffs are interdependent as in Akerlof’'s market for lemons. The seller is informed about the good’s quality. The buyer learns about it only through…