Finance
Finance
Seminars in Economics Davide Pettenuzzo (Brandeis University)
"Bayesian Compressed Vector Autoregressions"
Monday Lunch Seminars Marco Mazzoli (Università di Genova), Matteo Morini (University of Torino) and Pietro Terna (Collegio Carlo Alberto)
"Business cycle in a macromodel with oligopoly andagents heterogeneity: an agent-based approach"
Job Market Seminars Adrien d’Avernas (UCLA)
"Disentangling Credit Spreads and Equity Volatility" download the paper abstract In this paper, I provide a structural approach to quantify the forces thatgovern the joint dynamics of corporate bond credit spreads and equityvolatility. I build a dynamic model and estimate a wide array of fundamentalshocks using a large firm-level database on credit spreads, equityprices, accounting…
Job Market Seminars Nataliya Gerasimova (University of Lausanne)
"House of Funds" Download the paper abstract I document that political connections are an important driver of investment strategies of US mutual funds. I collect data on mutual fund holdings of US Congress members and equity holdings of mutual funds from 2004 to 2013. I show that funds whose shares belong to politicians place larger bets and trade…
Job Market Seminars Tatyana Marchuk (Goethe University)
"The Financial Intermediation Premium in the Cross Section of Stock Returns" Download the paper abstract This paper documents a significant risk premium for financial intermediation risk in the cross section of equity returns. Firms that borrow from highly levered financial intermediaries have on average 4% higher expected returns relative to firms with low-leverage lenders. This…
Seminars in Economics of Innovation and Knowledge Andy Toole (USPTO)
"The Dynamic Relationship between Investments in Brand Equity and Firm Profitability: Evidence using Trademark Registrations"
[Academic Events] Convegno “L’educazione finanziaria in Italia: oggi e domani”
Convegno “L’educazione finanziaria in Italia: oggi e domani”
Seminars in Economics Stefano Giglio (Chicago Booth)
"Contractionary volatility or volatile contractions?" Note: the seminar in on Monday
Seminars in Economics Gianluca Violante (New York University)
"Monetary policy according to HANK"
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…
Monday Lunch Seminars Alessandro Barattieri (CCA)
"Banks Interconnectivity and Leverage"
[Academic Events] Conferenza finale del progetto Mopact
Conferenza finale del progetto Mopact
Distinguished Scientific Lectures Onorato Castellino Lecture 2016, Massimo Livi Bacci
"2050: l'Italia ridimensionata? La demografia e il nostro futuro"
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 Philippe Bacchetta (Université de Lausanne and CEPR)
"Money and Capital in a Persistent Liquidity Trap"
Monday Lunch Seminars Julien Penasse (University of Luxembourg)
"Bubbles and Trading Frenzies: Evidence from the Art Market" abstract We use the art market as a laboratory to test speculative bubble models based on investor disagreement. Several aspects distinguish the art market from other markets: it features unlevered and wealthy investors, financial and technological innovations are absent, and transaction costs are substantial. We find…
Monday Lunch Seminars Roberto Marfe (CCA)
"Labor Rigidity and the Dynamics of the Value Premium" (Note: the seminar is on Wednesday) abstract This paper documents that (i) the labor-share is a strong predictor of both the value and duration premia, (ii) these premia are highly correlated, and (iii) the labor-share does not forecast the component of the value premium orthogonal to the…
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 Piero Gottardi (EUI)
"A Theory of Repurchase Agreements, Collateral Re-use, and Repo Intermediation" Abstract This paper characterizes repurchase agreements (repos) as equilibrium contracts starting from first principles. We show that a repo allows the borrower to augment its consumption today while hedging both agents against future market price risk. As a result, safer assets will command a lower…