Finance
Finance
Monday Lunch Seminars Antonella Tolomeo (Collegio Carlo Alberto)
"Disentangling Overlapping Shocks in Portfolio Choices" abstract In a market where price shocks result from the sum of several mean-reverting shocks, this paper finds the optimal trading policies and their welfare for informed investors, who observe all individual shocks, and uninformed investors, who estimate them from the aggregate shock alone. All investors have constant relative…
[Academic Events] Cherry Blossom Financial Education Institute
Cherry Blossom Financial Education Institute
Monday Lunch Seminars Piotr Tomasz Bialowolski (Università di Torino)
"Latent-transition approach to evolution of household debt possession patterns"
[Academic Events] MOPACT – Active Ageing Forum 3
MOPACT – Active Ageing Forum 3
Monday Lunch Seminars Cornelia Metzig (Imperial College)
"Scaling and Evolutionary Growth in a Macroeconomic Agent-Based Model" abstract I present a simple stock-flow consistent macroeconomic agent-based model for the production cycle, composed of firms, households and a financial sector. Competition of firms in the markets generates a stochastic process for firm evolution, which can be described theoretically. Results are several interrelated distributions for…
[Academic Events] Kick-off meeting of the project “Financial Literacy: a Key Tool to Improve People’s Life Cycle”
Kick-off meeting of the project “Financial Literacy: a Key Tool to Improve People’s Life Cycle”
[Academic Events] Workshop Workshop “Insurance Scheme: Justice and pragmatism”
Insurance Scheme: Justice and pragmatism
Collegio Aperto, Distinguished Scientific Lectures Onorato Castellino Lecture, Carlo Cottarelli
"In lode dell’austerita’ fiscale (… con moderazione)"
Seminars in Economics Gyongyi Loranth (University of Vienna)
"Multinational Banks and Supranational Supervision" Abstract We study the supervision of multinational banks (MNBs), allowing both for national and supranational supervisions. National supervision leads to insuffi cient monitoring of MNBs due to a coordination problem between supervisors. Supranational supervision solves this problem and generates more monitoring. However, this increased monitoring can have unintended consequences, as it also aff ects…
Seminars in Economics Pietro Veronesi (Chicago Booth)
"Income Inequality and Asset Prices under Redistributive Taxation"
Seminars in Economics Christian Julliard (LSE)
"Information Asymmetries, Volatility, Liquidity, and the Tobin Tax”
Seminars in Economics Jordi Gali (CREI and UPF)
"Insider-Outsider Labor Markets, Hysteresis and Monetary Policy" Abstract I develop a version of the New Keynesian model with insideroutsider labor markets and hysteresis that can account for the high persistence of of European unemployment. I study the implications of that environment for the design of monetary policy. A simple interest rule that includes the unemployment…
Monday Lunch Seminars Irina Stefanescu (FED Board)
"Cost Saving and the Freezing of Corporate Pension Plans" Abstract The decision to freeze corporate defined benefit (DB) plans is related to variation in prospective cost saving, and freezing DB plans reduces total corporate compensation costs. Firms that freeze have at least 50% higher 10-year expected DB accruals than matched non-freeze firms. Comparing counterfactual DB…
Monday Lunch Seminars Mascia Bedendo (Audencia School of Management)
"Reputational Shocks and the Information Content of Credit Ratings" (Note: the seminar is on Thursday) ABSTRACT In the last two decades Credit Rating Agencies (CRAs) have faced extensive criticism for their rating practices and business models. We examine to what extent a number of significant reputational shocks suffered by CRAs (i.e. the Enron/WorldCom scandals, the subprime…
[Academic Events] Policy panel “Cittadini istruiti in economia e finanza, democrazia più efficente”
Policy panel “Cittadini istruiti in economia e finanza, democrazia più efficente”
Monday Lunch Seminars Claudio Campanale (University of Alicante)
"Luxury goods in heterogeneous agents economies" Abstract Most macroeconomic models are based on the assumption of a single homogeneous consumption good. In the present paper we consider a model with two goods: A basic good and a luxury good. We then apply this assumption to a standard general equilibrium heterogeneous agent model. We find a substantial reduction in precautionary…
Seminars in Politics and Society Robert Hancke (LSE)
"The missing link: Labour unions, central banks and monetary integration in Europe" Abstract This paper examines the problems of the single currency in light of the organization of labour relations in the member-states and their interaction with monetary policies. Continental (western) Europe consists of two very different systems of employment and labour relations, roughly coinciding…
[Academic Events] Workshop Workshop in Capital Markets: Jacopo Carmassi
Workshop in Capital Markets: Jacopo Carmassi
Seminars in Economics Hector Chade (ASU)
"Risky Matching"
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…