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Occasional Seminars Allievi Program Defense Session March 2013

Where: Sala Rossa 15.30 Giulia Devecchi"On first passage time for fractional Brownian motion through a boundary" 16.30 Claudio Di Loreto"Asset allocation under higher moments: an innovative approach" 17.30 Giulia Pasquale"A Liability Driven Investment Portfolio Strategy"

Seminars in Politics and Society Susan Stokes (Yale University)

"Brokers, Voters, and Clientelism" abstract Brokers, Voters, and Clientelism studies distributive politics:  how parties and governments use material resources to win elections. The authors develop a theory that explains why loyal supporters, rather than swing voters, tend to benefit from pork-barrel politics; why poverty encourages clientelism and vote buying; and why redistribution and voter participation do…

Anna D’Addio (OECD)

"Pension reform, retirement age and subjective well being: evidence from a german natural experiment" abstract This paper examines the effect on the well being of current generations of pensioners of a reform to the public pension system in Germany which increases retirement age gradually to 65 for both men and women. The well-being is evaluated…

Seminars in Economics Olivier Tercieux (PSE)

"Efficiency and Stability in Large Matching Markets" Abstract We study efficient and stable mechanisms in many-to-one matching markets when the number of agents is large. We first consider an environment where individuals' preferences are drawn randomly from a class of distributions allowing for both common value and idiosyncratic components. In this context, as the market…

Seminars in Politics and Society Martin Whyte (Harvard University)

"Can China Close its Huge Rural-Urban Gap?" abstract China today may have the sharpest social cleavage between its rural and urban citizens of any country on earth, with urban households on average having close to 4 times the income of rural households.  Paradoxically, this sharp social cleavage is mainly a legacy of the socialist system…

Seminars in Politics and Society Desmond King (Nuffield College, University of Oxford)

"Concealed Advantage: The US Federal Reserve's Financial Intervention after 2007" abstract The Federal Reserve is an outlier in two respects: it enjoys unprecedented autonomy and it controls enormous authority and resources across a broad range of financial issues. That the Fed makes unilateral decisions that commit and impact trillions of public and private funds is…