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Monday Lunch Seminars Alan Kirman (Université d’Aix-Marseille III)

"The Crisis in Economic Theory" abstract This presentation will suggest that we need an alternative approach to economic modeling in general, and macroeconomic modelling in particular, if we are to capture salient characteristics of recent economic developments. There has been an implicit acceptance of the idea that an economy in which individuals are left essentially to their own devices will…

Monday Lunch Seminars Suvi Vasama (Humboldt University of Berlin)

"Real Options and Dynamic Incentives" abstract We examine a dynamic principal-agent model in which the output is correlated over time. The optimal contract determines a payment schedule from the principal to the agent and a liquidation policy. Incentive compatibility, together with the agent’s limited liability, requires that the firm is liquidated following a history of low returns. With…

Seminars in Statistics Bartek Knapik (VU Amsterdam)

Convergence rates of posterior distributions in nonparametric inverse problems Since the seminal works of Ghosal, Ghosh and van der Vaart (2000) and Shen and Wasserman (2001), posterior contraction has attracted much attention, resulting in the rich literature on this subject. However, these results are not suitable to deal with trully ill-posed inverse problems, where one…

Seminars in Politics and Society Michael Tahlin (SOFI, Stockholm University)

 "Why is youth employment falling? A comparative analysis of skill matching and labor demand in Europe" abstract Youth employment has fallen in many countries in recent decades. How can this development be explained? Potentially important causes include economic recessions, long-term losses of labor demand, upgrading of job structures, educational expansion, and changes in skill matching…

Seminars in Economics Arnaud Dupuy (CEPS, INSTEAD)

"Migration in China: to Work or to Wed?" Abstract Why do people migrate? In this paper we study the trade-offs between migrating to work and migrating to wed. To this aim, we develop a marriage matching model in which men and women, are initially distributed over various locations, i.e. were born and raised in various…

Seminars in Politics and Society Olivier Thevenon (INED, Paris)

"Do “Institutional Complementaries” Foster Female Labour Force Participation?" Abstract I analyse the response of female labour force participation to policies supporting the work-life balance, with country-level data from the early 1980s for 18 OECD countries. It includes an original analysis of interactions and complementarity between different policy measures, as well as of potential variations in…

Griselda Deelstra (Université Libre de Bruxelles)

"Optimal timing for annuitization, based on jump diffusion fund and stochastic mortality" Abstract Optimal timing for annuitization is developed along three approaches. Firstly, the mutual fund in which the individual invests before annuitization is modeled by a jump diffusion process. Secondly, instead of maximizing an economic utility, the stopping time is used to maximize the…