Finance
Finance
Monday Lunch Seminars Roberto Marfè
"Labor Relations, Endogenous Dividends and the Equilibrium Term Structure of Equity" abstract Leading asset pricing models are inconsistent with the recent empirical findings which document downward sloping term structures of equity risk and premia. This paper shows that a simple general equilibrium model can accommodate the stylized facts about dividend strips as long as dividend distributions endogenously obtain…
Seminars in Politics and Society Herman Schwartz (University of Virginia)
"Babies, Bonds, and Buildings: Policy Implications of the Links among Pensions, Housing Finance Systems and Fertility Rates" abstract Many rich OECD countries now have fertility rates well below the replacement rate. Low fertility implies declining population and potential problems for pension systems trying to finance an ever-rising ratio of retirees to workers. Additionally, surveys show…
Monday Lunch Seminars Pietro Garibaldi
"Labor and Finance: Mortensen and Pissarides meet Holmstrom and Tirole" abstract In real life labor markets firms hold at all times a variety of liquid assets not invested in their core business. Such external use of funds acts as an insurance against future adverse financial shocks, and typically varies across firms and sectors. As a…
Monday Lunch Seminars Henriette Prast
"Seven ways to knit your portfolio: can familiarity explain the gender gap in finance?" abstract We investigate whether the gender gap in measured financial literacy, risk attitudes and portfolio choice may be affected by a gender gap in familiarity with the language and product supply in the life cycle saving and investing industry. Familiarity is…
Seminars in Economics Fulvio Ortu (Univ Bocconi)
"Implications of Returns Predictability for Asset Pricing Modelling"
Monday Lunch Seminars Marco Airaudo
"Optimal monetary policy with counter-cyclical credit spreads" Abstract We study the consequences for monetary policy design of including deep habits in credit markets into the benchmark New-Keynesian DSGE model. Under deep habits, monopolistically competitive banks set lending rates in a forward-looking fashion: they internalize the fact that, due to habits in banking (which are meant…
Monday Lunch Seminars Filippo Taddei
"International Capital Flows, Financial Frictions and Welfare" abstract The connection between the financial crisis of 2007-08 and global imbalances is controversial. We argue that the main reason why the relationship may be in place is due to the existence of financial frictions in domestic credit markets. We rationalize this point of view by developing a…
Seminars in Economics Alberto Manconi (Tilburg University)
"Do Short Sellers Care About Corporate Hedging?" abstract We study the relationship between corporate hedging and short selling, using a novel data set on short sales of US equities over the period 2002-2009, and hand-collected data on corporate hedging. We document that hedging is associated with lower uncertainty, i.e., lower analyst forecast dispersion and greater breadth of ownership. This should…
Seminars in Economics Marti Subrahmanyam (NYU Stern)
"The Microstructure of the European Sovereign Bond Market: A Study of the Euro-zone Crisis"
Seminars in Economics Marek Weretka (University of Wisconsin-Madison)
"Pricing Large Financial Products"
Edmund Cannon (University of Bristol)
"Cohort mortality risk or adverse selection in the UK annuity market?"
Seminars in Economics Michael Brennan (UCLA)
"Financing Asset Growth"
Monday Lunch Seminars Igor Livshits (University of Western Ontario)
"Screening as a Unied Theory of Delinquency,Renegotiation, and Bankruptcy"
Seminars in Economics Philippe Jehiel (UCL and PSE)
"Financial reporting and market efficiency withextrapolative investors"
Job Market Seminars Farzad Saidi (New York University)
"The Rise of the Universal Bank: Financial Architecture and FirmVolatility in the United States"
Job Market Seminars Roberto Marfè (Swiss Finance Institute and University of Lausanne)
"Realized Expectations and the Equilibrium Risk-Return Trade Off"
Job Market Seminars Marco Di Maggio (MIT)
"Market Turmoil and Destabilizing Speculation"
Job Market Seminars Diego Ronchetti (University of Lugano)
"An Empirical Studyof Stock and American Option Prices"
Job Market Seminars Tim Schmidt-Eisenlohr (European University Institute)
"Towards a Theory of Trade Finance"
Job Market Seminars Alessandro Dovis (University of Minnesota)
"Efficient Sovereign Default"