Seminars in Economics

Seminars in Economics

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Seminars in Economics Yuliy Sannikov (Princeton University)

"Dynamic Trading: Price Inertia, Front-Running and Relationship Banking" Abstract We build a linear-quadratic model to analyze trading in a market with pri-vate information and heterogeneous agents. Agents receive private endowment shocks and trade continuously. Agents dier in their need for trade as well assize, i.e. the ability to stay away from their ideal positions. In…

Seminars in Economics Michele Pellizzari (University of Geneva)

"Wage compression within the firm" abstract We study the distributional effect of a wage indexation mechanism - the textit{Scala Mobile} (SM) - that heavily compressed the distribution of Italian wages during the 1970s and 1980s. By imposing nominal adjustments to all workers in the economy, the SM increased real wages at the bottom of the…

Seminars in Economics Ryan McDevitt (Duke University)

"The Elasticity of Demand for Alternative Financial Services: Evidence from Check-Cashing Price Changes in the South Bronx" Abstract Using proprietary data from customers’ transactions, we estimate the elasticity of demand for check-cashing services.  Our identification strategy exploits two key features of the data: one bank unilaterally reduced its check-cashing fees while its nearby competitors maintained…