Monday Lunch Seminars
Monday Lunch Seminars
Monday Lunch Seminars Emilio Paolucci, Paolo Neirotti, Danilo Pesce (Politecnico di Torino)
"ICT-Based Innovation and the Changing Nature of Competition: Evidence from Information Intensive Industries in Italy" Abstract Despite the increasing interest in Information and Communication Technology’s (ICT) potential to transform industry structure and competition, there is still not comprehensive evidence on how ICT-related innovations affect competitive dynamics due to the low number of industry-level studies. Strategic…
Monday Lunch Seminars Toomas Hinnosaar (CCA)
"Rent-seeking contest design" Abstract This paper studies the relationship between information, incentives, and outcomes in rent-seeking contests. A common solution to limiting socially wasteful rent-seeking activities is transparency. I show that information strictly increases efforts in rent-seeking contests. Thus, the socially optimal rent-seeking contest provides as little information as possible about the competition. The model…
Monday Lunch Seminars Matteo Triossi (University of Chile)
"Costly Information acquisition: the role of abstention" Abstract Citizens have little and uneven levels of political knowledge, consistently with the rational ignorance hypothesis. The paper presents a strategic model of common value elections with voluntary voting and endogenous information acquisition accounting for these facts. While, under compulsory voting, majoritarian elections generically fail to completely aggregate…
Monday Lunch Seminars Rigas Oikonomou (UC Louvain)
"Long Term Government Bonds" abstract We study the impact of debt maturity on optimal fiscal policy by focusing on the case where the government issues a bond of maturity N > 1: Isolating these e ffects helps provide insight into the construction of optimal government debt portfolios. We find long bonds may not complete the…
Monday Lunch Seminars Matteo Cacciatore (HEC Montreal)
"Market Reforms at the Zero Lower Bound" Abstract We study the impact of product and labor market reforms when an economy faces major slack and a binding constraint on monetary policy easing---such as the zero lower bound. To this end, we build a two-country two-final-goods model featuring endogenous producer entry, labor market frictions, and nominal…
Monday Lunch Seminars Chiara Daniela Pronzato (University of Turin and Collegio Carlo Alberto)
"Gender Quotas: Challenging the Boards, Performance and the Stock Market" with Valeria Ferraro (Bocconi University) and Paola Profeta (Bocconi University and Dondena)
Monday Lunch Seminars Ignacio Monzon (Collegio Carlo Alberto)
"Observational Learning in Large Anonymous Games" (Note: the seminar is on Thursday)
Monday Lunch Seminars Martina Viarengo (Graduate Institute Geneve)
"Nation-Building Through Compulsory Schooling During the Age of Mass Migration" Abstract By the mid-19th century, America was the best educated nation on Earth: significant financial investments in education were being undertaken and the majority of children voluntarily attended public schools. So why did American states start introducing compulsory schooling laws at this point in time?…
Monday Lunch Seminars Francesca Brusa (Temple University)
"Human Capital, Unemployment Risk, and Asset Prices" Abstract This paper relates the riskiness of human capital to uncertainty in the labour market and documents a role for unemployment as a determinant of human wealth. Starting from the labour market equilibrium outcome, I derive two unemployment-adjusted measures of labour income and rely on U.S. micro-level data…
Monday Lunch Seminars Cristian Bartolucci (Collegio Carlo Alberto)
"A Symmetric Model of Firms and Workers" Abstract In this paper we develop a model in which unemployed searchers may either encountera firm and be considered as a new employee or may generate a business idea in which case they begin their own firm. This is the first paper in which an equilibrium distribution of…
Monday Lunch Seminars Antonella Tolomeo (Collegio Carlo Alberto)
"Disentangling Overlapping Shocks in Portfolio Choices" abstract In a market where price shocks result from the sum of several mean-reverting shocks, this paper finds the optimal trading policies and their welfare for informed investors, who observe all individual shocks, and uninformed investors, who estimate them from the aggregate shock alone. All investors have constant relative…
Monday Lunch Seminars Edmund Cannon (University of Bristol)
"Adverse selection in the UK annuity market and the 1956 Finance Act" (Note: the seminar is on Thursday) abstract This paper proposes a new price test for evidence of active adverse selection in the insurance market for longevity risks: the annuity market. The test is applied to the exogenous change in taxation of annuity payments following…
Monday Lunch Seminars Edoardo Grillo (Collegio Carlo Alberto)
"Strategic Sovereign Defaults under International Sanctions" abstract Economic sanctions are often used to destabilize hostile political regimes. We present a model where targeted regimes react to sanctions by initiating a public debt crisis to foster internal political support. The strategy is based on two considerations. Fist, sanctions increase the share of external debt on GDP…
Monday Lunch Seminars Nicola Bellomo (Politecnico di Torino)
"On the complex interactions between mathematics and soft sciences. Toward a mathematical theory of behavioural systems" (Note: the seminar is on Tuesday)
Monday Lunch Seminars Andrea Gallice (Universita’ di Torino e Collegio Carlo Alberto)
"Economic and Class Voting in a Model of Redistribution with Social Concerns" abstract We investigate how concerns about social status may affect individuals' preferences for redistribution. In our model, agents are heterogeneous across two dimensions, productivity and social class, and an individual's social status is defined as his relative standing in terms of a weighted…
Monday Lunch Seminars Leandro Gorno (Getulio Vargas Foundation)
"Revealed preference and identification" abstract I develop a theory of revealed preference based on the assumption that we observe some optimal choices rather than all of them, as is traditionally assumed. I establish sufficient conditions to uniquely recover preferences from behavioral data for three standard cases: ordinal continuous preferences, von Neumann-Morgenstern preferences and qualitative probabilities.…
Monday Lunch Seminars Piotr Tomasz Bialowolski (Università di Torino)
"Latent-transition approach to evolution of household debt possession patterns"
Monday Lunch Seminars Cornelia Metzig (Imperial College)
"Scaling and Evolutionary Growth in a Macroeconomic Agent-Based Model" abstract I present a simple stock-flow consistent macroeconomic agent-based model for the production cycle, composed of firms, households and a financial sector. Competition of firms in the markets generates a stochastic process for firm evolution, which can be described theoretically. Results are several interrelated distributions for…
Monday Lunch Seminars Giorgio Barba Navaretti (Universita’ di Milano e Centro Luca d’Agliano)
"It takes (more than) a moment: Revisiting the link between firm productivity and aggregate exports" Abstract This paper exploits a unique data set covering a panel of 16 European countries and 21 manufacturing industries to examine within sectors which features of a country's firm productivity distribution are relatedto its aggregate export performance. It provides robust…