Seminars in Economics

Seminars in Economics

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Seminars in Economics Avi Goldfarb (Toronto University)

"Exit, Tweets, and Loyalty" abstract Hirschman’s Exit, Voice, and Loyalty highlights the role of “voice” in disciplining firms for low quality. We develop a formal model of voice as a relational contact between firms and consumers and show that voice is more likely to emerge in concentrated markets. We test this model using data on…

Seminars in Economics Antoine Dechezlepretre (LSE)

"Do pollution offsets offset pollution? Evidence from the Clean Development Mechanism in India" Abstract We examine the impact of low-cost imports on firms’ propensity to engage in material-saving (’clean’) innovation and product innovation using a dataset that combines firm-level international trade data with self-reported innovation data for around 9,000 French companies observed from 1998 to…

Seminars in Economics Antoine Bommier (ETH Zurich)

"Household Finance and the Value of Life" Abstract We analyze life-cycle saving strategies with a recursive model that is designed to provide reasonable positive values for the value of a statistical life. With a positive value of life, risk aversion amplifies the impact of uncertain survival on the discount rate, and thus reduces savings. Our…

Seminars in Economics Michael Haliassos (Goethe University Frankfurt)

"Financial Literacy Externalities" abstract This paper uses unique administrative data and a quasi-field experiment of exoge- nous allocation of refugees in Sweden to estimate effects of exposure to financially literate neighbors on household financial behavior. The paper contributes evidence of a causal impact of financial literacy on behavior and points to a social multiplier of…

Seminars in Economics Sonia Oreffice (University of Surrey)

"The Demand for Season of Birth" Abstract We study the determinants of season of birth, for white married women aged 20-45 in the US, using birth certificate and Census data. We also elicit the willingness to pay for season of birth through discrete choice experiments implemented on the Amazon Mechanical Turk platform. We document that the probability…

Seminars in Economics Francesca Cornelli (London Business School)

"Team Stability and Performance: Evidence fromPrivate Equity" abstract We examine the effect of team turnover on performance studying the privateequity industry. Using a unique data set that tracks over time teams in 138PE managers and their performance, we uncover a positive relation betweenturnover and fund performance. We propose and confirm in the data twochannels that…

Seminars in Economics Enrica Carbone (Seconda Università degli Studi di Napoli)

"Equilibria in Transportation Games with Road Pricing" abstract As congestion pricing is becoming increasingly popular as a solution to traffic congestion in many parts of the world, one issue is how it affects the location of commercial activities. If a cordon charge is constructed around a city center, as in London and Stockholm, for example,…

Seminars in Economics Paola Conconi (ECARES and CEPR)

"All Together Now: Integration, Delegation and Management" abstract Abstract Little is known theoretically, and even less empirically, about the relationship between firm boundary choices and the allocation of decision rights within firms. We develop a model in which firms choose which suppliers to integrate, whether to delegate decisions to integrated suppliers or keep them centralized,…

Seminars in Economics Pietro Veronesi (University of Chicago)

"Habits and Leverage" Abstract Many stylized facts of leverage, trading, and asset prices can be explained by a frictionless general equilibrium model in which agents have heterogeneous endowments and external habit preferences. Our model predicts that aggregate leverage increases in good times when stock prices are high and volatility is low, it should predict low…

Seminars in Economics Pietro Tebaldi (University of Chicago)

"Estimating Equilibrium in Health Insurance Exchanges: Price Competition and Subsidy Design under the ACA" Abstract To design premium subsidies in a health insurance market it is necessary to estimate consumer demand and study how different subsidy schemes affect insurers’ incentives. Combining data from the Californian ACA marketplace with a model of insurance demand and insurers’…