EEA-ESEM 2007: Congress Programme

The Congress Programme is subject to last minute changes.

This version of the Programme was viewed at 06/07/2007 08:57:53

MONDAY 27 AUGUST 2007


DAY OVERVIEW
10:00 - 15:00 REGISTRATION
15:00 - 17:00 SPECIAL LECTURE
15:00 - 17:00 CONTRIBUTED SESSIONS EEA
CONTRIBUTED SESSIONS ESEM EEE (Econometrics)
17:00 - 17:30 COFFEE BREAK
17:30 - 19:30 FISHER SCHULTZ LECTURE
20:00 - 22:30 WELCOME PARTY, PALACE OF ARTS



10:00 - 15:00 REGISTRATION



15:00 - 17:00 SPECIAL LECTURE



15:00 - 17:00 SPECIAL LECTURE (EEA)
Chairperson: Guido Tabellini, IGIER, Bocconi University - President EEA
Room A-6

  PRODUCTIVITY IN THE EURO AREA AND MONETARY POLICY
Jean-Claude Trichet, President, European Central Bank
 

15:00 - 17:00 CONTRIBUTED SESSIONS 1
EEA



15:00 - 17:00 IO: EMPIRICAL AND APPLIED (EEA)
Chairperson: Thibaud Vergé, CREST-LEI
Room U-1

  THE IMPACT OF INTERNET ON THE MARKET FOR DAILY NEWSPAPERS IN ITALY
Lapo Filistrucchi, Tilburg University & University of Siena

 
  WHY NOT SELL LOTTERY TICKETS IN A PHARMACY: ON CONFLICTING PRODUCT FEATURES AND CONSUMER CHOICE
Daniel Mueller, Bonn Graduate School of Economics (BGSE)
Co-Author: Philipp C. Wichardt, Economic Theory 3, University of Bonn

 
  THE EFFECTS OF BANNING BELOW-INVOICE PRICES: AN EMPIRICAL INVESTIGATION
Thibaud Vergé, CREST-LEI
Co-Authors: Pierre Biscourp, ENSAE, CREST and Xavier Boutin, INSEE
 

15:00 - 17:00 IO: MARKETING (EEA)
Chairperson: Irene Martínez-Pardina, University of Murcia
Room U-2

  ON THE SIGNALING AND FEEDBACK EFFECTS OF UMBRELLA BRANDING
Jeanine Thal, European University Institute

 
  NELSON’S CONJECTURE: SOME EFFECTS OF CONSUMER PROTECTION ON DECEPTION, CONSUMER SEARCH AND COMPETITION
Chris Wilson, University of Oxford

 
  COMPETITION VERSUS INFORMATION UNDER THE WORD-OF-MOUTH EFFECT
Irene Martínez-Pardina, University of Murcia
Co-Authors: Francisco Alcala, University of Murcia and Miguel Gonzalez-Maestre, Universidad de Murcia

 
  BRANDING NEWS WITH POLITICAL OPINION
Frode Steen, Professor
Co-Author: Gorm Grřnnevet, NHH
 

15:00 - 17:00 GROWTH I (EEA)
Chairperson: Antonio Navas-Ruiz, GREQAM Université d''Aix-Marseille
Room U-9

  TOWARDS A THEORY OF TOTAL FACTOR PRODUCTIVITY (-GROWTH): MONETARY POLICY, SHORT-RUN FLUCTUATIONS AND LONG-RUN CONSEQUENCES
Marc Schiffbauer, University of Bonn
Co-Authors: Michael Evers, Bonn Graduate School of Economics and Stefan Niemann, Bonn Graduate School of Economics

 
  NEW COMBINATIONS AND GROWTH
Jürgen Antony, University of Augsburg

 
  RICH, POOR AND GROWTH-MIRACLE NATIONS: MULTIPLE EQUILIBRIA REVISITED
Lilia Maliar, Universidad de Alicante
Co-Authors: Kylymnyuk Dmytro, University of Toulouse and Serguei Maliar, University of Alicante

 
  TRADE OPENNESS, INSTITUTIONAL CHANGE AND ECONOMIC GROWTH
Antonio Navas-Ruiz, GREQAM Université d''Aix-Marseille
 

15:00 - 17:00 HEALTH I (EEA)
Chairperson: Matthias Dahm, Universitat Rovira i Virgili
Room U-3

  LOWERING BLOOD ALCOHOL CONTENT LEVELS TO SAVE LIVES: THE EUROPEAN EXPERIENCE.
Daniel Albalate, University of Barcelona

 
  LABOR MARKET INTERRUPTIONS AND HEALTH: EVIDENCE FROM A NATURAL EXPERIMENT
Andreas Kuhn, University of Zurich
Co-Authors: Rafael Lalive, University of Lausanne and Josef Zweimüller, University of Zurich

 
  PRICE VARIATION IN MARKETS WITH HOMOGENEOUS GOODS: THE CASE OF MEDIGAP
Mathis Schroeder, Mannheim University
Co-Authors: Dana Goldman, RAND Corporation and Nicole Maestas, RAND corporation

 
  CLINICAL TRIALS: THE EFFECTS OF REGISTRIES AND RESULTS DATABASES
Matthias Dahm, Universitat Rovira i Virgili
Co-Authors: Paula Gonzalez, UNIVERSIDAD PABLO DE OLAVIDE DE SEVILLA and Nicolás Porteiro, Universidad Pablo de Olavide, Sevilla.
 

15:00 - 17:00 MIGRATION I (EEA)
Chairperson: Radu Vranceanu, ESSEC Business School
Room U-6

  RETURN MIGRATION AND THE "HEALTHY IMMIGRANT EFFECT"
Monika Sander, University of Bamberg, Graduate School "Markets and Social Systems in Europe"

 
  DO EDUCATIONAL DIFFERENCES AND THEIR IMPACT ON EARNINGS HAMPER IMMIGRANTS?
Lubomira Anastassova , CERGE-EI

 
  SKILL DIFFUSION BY TEMPORARY MIGRATION? RETURNS TO WESTERN EUROPEAN WORKING EXPERIENCE IN THE EU ACCESSION COUNTRIES
Anna Iara, The Vienna Institute for International Economic Studies (wiiw)

 
  INTERNATIONAL REMITTANCES AND RESIDENTS' LABOUR SUPPLY IN A SIGNALING MODEL
Radu Vranceanu, ESSEC Business School
Co-Author: Claire Naiditch, ESSEC Business School & University Paris 1
 

15:00 - 17:00 AGENCY, FAIRNESS AND CONTRACTS (EEA)
Chairperson: Björn Bartling, University of Munich
Room U-8

  DYNAMIC REGULATION OF PUBLIC GOOD QUALITY
Stephane Auray, Univ. Lille 3, GREMARS and CIRPEE
Co-Authors: Thomas Mariotti, GREMAQ -Toulouse and Fabien Moizeau, Univ. Toulouse and GREMAQ

 
  EFFICIENT CONTRACT DESIGN IN MULTI-PRINCIPAL MULTI-AGENT SUPPLY CHAINS
Thomas Weber, Stanford University
Co-Author: Hongxia Xiong, Stanford University

 
  RELATIONAL CONTRACTS AND INEQUITY AVERSION
Jenny Kragl, Humboldt-Unviversität zu Berlin
Co-Author: Julia Schmid, Technische Universität Berlin

 
  RELATIVE VS. TEAM PERFORMANCE EVALUATION WITH INEQUITY AVERSE AGENTS
Björn Bartling, University of Munich
 

15:00 - 17:00 LIFE CYCLE AND RETIREMENT (EEA)
Chairperson: Ernesto Villanueva, Bank of Spain
Room U-12

  HETEROGENEITY IN INTRA-MONTHLY CONSUMPTION PATTERNS, SELF-CONTROL, AND SAVINGS AT RETIREMENT
Giovanni Mastrobuoni, Collegio Carlo Alberto
Co-Author: Matthew Weinberg, University of Georgia

 
  TEMPTATION AND SOCIAL SECURITY DISTORTION
Alessandro Bucciol, University of Padua - Dept. of Economics "Marco Fanno"

 
  THE EFFECTS OF THE INTRODUCTION OF TAX INCENTIVES ON RETIREMENT SAVINGS
Ernesto Villanueva, Bank of Spain
Co-Authors: Juan Ayuso, Bank of Spain and Juan Jimeno, Bank of Spain
 

15:00 - 17:00 ECONOMICS OF EDUCATION I (EEA)
Chairperson: Stéphane Bonhomme, CEMFI
Room U-13

  SELF-PRODUCTIVITY IN EARLY CHILDHOOD
Katja Coneus, ZEW, Mannheim
Co-Author: Friedhelm Pfeiffer, ZEW, Mannheim

 
  THE IMPACT OF HEAD START ON BEHAVIORAL PROBLEMS OF CHILDREN AND ADOLESCENTS
Rita Ginja, University College London
Co-Author: pedro carneiro, UCL

 
  IDENTIFYING THE SOURCE OF CATHOLIC SCHOOL EFFECTS ON WAGES AND EARNINGS
Young-Joo Kim, University of Wisconsin-Madison

 
  ACCOUNTING FOR UNOBSERVABLES IN COMPARING SELECTIVE AND COMPREHENSIVE SCHOOLING
Stephane Bonhomme, CEMFI (madrid)
Co-Author: Ulrich Sauder, HEC Lausanne
 

15:00 - 17:00 VOTING AND EXPERIMENTS (EEA)
Chairperson: Pedro Vicente, Department of Economics and CSAE - University of Oxford
Room U-15

  MINORITY VS. MAJORITY. AN EXPERIMENTAL STUDY OF STANDARDIZED BIDS
Agnes Pinter, Universidad Carlos III de Madrid
Co-Author: RĂłbert F. Veszteg, Universidad de Navarra

 
  ONE ROUND VERSUS TWO ROUND ELECTIONS: AN EXPERIMENTAL STUDY
Karine Van Der Straeten, PSE Paris
Co-Authors: André BLAIS, U. of Montreal, Jean-Francois Laslier, Ecole Polytechnique, Paris, Annie Laurent, CNRS and nicolas sauger, Institut d'Etudes Politiques de Paris

 
  EDUCATION AND VOTER TURNOUT IN A QUASI-EXPERIMENTAL SCHOOL REFORM
Panu Pelkonen, University College London

 
  IS VOTE BUYING EFFECTIVE? EVIDENCE FROM A RANDOMIZED EXPERIMENT IN WEST AFRICA
Pedro Vicente, Department of Economics and CSAE - University of Oxford
 

15:00 - 17:00 EXCHANGE RATES AND ORDER FLOWS IN THE FOREIGN EXCHANGE MARKETS (EEA)
Chairperson: Alexander Mende, RPM Risk & Portfolio Management AB
Room U-17

  EXCHANGE RATE FORECASTING, ORDER FLOW AND MACROECONOMIC INFORMATION
Elvira Sojli, University of Warwick
Co-Authors: Dagfinn Rime, Norges Bank and Lucio Sarno, Warwick Business School

 
  LOCAL INFORMATION IN FOREIGN EXCHANGE MARKETS
Maik Schmeling, Leibniz Universitaet Hannover
Co-Author: Lukas Menkhoff, Leibniz Universität Hannover

 
  ORDER FLOWS, NEWS, AND EXCHANGE RATE VOLATILITY
Alexander Mende, RPM Risk & Portfolio Management AB
Co-Authors: Michael Froemmel, University of Hannover and Lukas Menkhoff, Leibniz Universität Hannover
 

15:00 - 17:00 FDI AND MULTINATIONAL FIRMS (EEA)
Chairperson: Sjoerd Beugelsdijk, Nijmegen School of Management
Room U-20

  SECTORAL ANALYSIS OF THE LOCATION CHOICE OF MULTINATIONAL ENTERPRISES
Selin Sayek, Bilkent University
Co-Author: Banu Demir, World Bank

 
  SPILLOVERS FROM MULTINATIONALS TO HETEROGENEOUS DOMESTIC FIRMS: EVIDENCE FROM HUNGARY
Gábor Békés, Institute of Economics, H.A.S. & Central European University, Budapest
Co-Authors: Jörn Kleinert, University of Tübingen and Farid Toubal, Univeristy of Paris I, Panthéon Sorbonne

 
  DO VERTICAL SPILLOVERS LEAD TO CHANGES IN MARKUPS? FIRM-LEVEL EVIDENCE FROM HUNGARY
Balazs Murakozy, CEU, IE-HAS

 
  HOW CULTURAL DISTANCE AFFECTS THE GEOGRAPHICAL DISTRIBUTION OF EXPORTS AND LOCAL PRODUCTION
Sjoerd Beugelsdijk, Nijmegen School of Management
Co-Author: Arjen Slangen, Erasmus University Rotterdam
 

15:00 - 17:00 CONSUMER BEHAVIOUR (EEA)
Chairperson: Wendelin Schnedler, Department of Economics, University of Heidelberg
Room U-22

  HABITS AND HETEROGENEITY: A DYNAMIC DEMAND SYSTEM ANALYSIS
Soteroula Hajispyrou, University of Cyprus, Economics Research Centre

 
  IS THE ELASTICITY OF INTERTEMPORAL SUBSTITUTION CONSTANT>
Thomas Crossley, University of Cambridge
Co-Author: Hamish Low, University of Cambridge

 
  INDIVIDUAL WELL-BEING IN A DYNAMIC PERSPECTIVE
Conchita D''Ambrosio, Universita'' di Milano-Bicocca & DIW Berlin
Co-Author: Joachim R. Frick, DIW Berlin

 
  SATIATION AND INEQUALITY
Wendelin Schnedler, Department of Economics, University of Heidelberg
Co-Author: Stefan Napel,
 

15:00 - 17:00 CORPORATE FINANCE (EEA)
Chairpersons: Andreas Stephan, European University Viadrina and Oleksandr Talavera, DIW-Berlin
Room U-10

  FINANCING OF BUSINESS GROUPS - WHO SHOULD DO THE BORROWING?
Basak Akbel, University of Munich
Co-Author: Monika Schnitzer, University Munich and CEPR

 
  RECAPITALIZATION VS. LIQUIDATION IN RESOLUTION OF FINANCIAL DISTRESS
Thi Quynh Anh VO, GREMAQ - UNIVERSITY OF TOULOUSE 1

 
  OPTIMAL AND NON-OPTIMAL LIQUIDATION DECISIONS OF CREDITORS
Max Bruche, CEMFI

 
  THE EFFECTS OF UNCERTAINTY ON THE LEVERAGE OF NON-FINANCIAL FIRMS
Andreas Stephan, European University Viadrina and Oleksandr Talavera, DIW-Berlin
Co-Author: Christopher Baum, Boston College
 

15:00 - 17:00 ECONOMIC HISTORY (EEA)
Chairperson: Joachim Voth, UPF
Room U-7

  GDP PER CAPITA OR REAL WAGES? MAKING SENSE OF CONFLICTING VIEWS ON PRE-INDUSTRIAL EUROPE.
Luis Angeles, University of Glasgow

 
  ESTIMATING A CAGAN-TYPE DEMAND FUNCTION FOR GOLD: 1561-1913
Alexei Deviatov, New Economic School
Co-Author: Neil Wallace, Pennsylvania State University

 
  AUCTIONING GOVERNMENT POSTS: REFLECTIONS ON THE ZIXUAN SYSTEM IN DYNASTIC CHINA
Audrey Hu, Amsterdam School of Economics/Tinbergen Instute
Co-Author: Liang Zou, University of Amsterdam

 
  HISTORICAL DEFAULTS AND DEBT CRISES: AN ECONOMISTS GUIDE
Joachim Voth, UPF
Co-Author: Mauricio Drelichman, University of British Columbia
 

15:00 - 17:00 ENVIRONMENT I (EEA)
Chairperson: Frank C. Krysiak, University of Basel
Room U-11

  ON THE SELF-SERVING USE OF EQUITY PRINCIPLES IN INTERNATIONAL CLIMATE NEGOTIATIONS
Andreas Löschel, Centre for European Economic Research (ZEW), Mannheim
Co-Authors: Andreas Lange, University of Maryland and ZEW, Carsten Vogt, University of Applied Sciences, Leipzig and Andreas Ziegler, Center for Corporate Responsibility and Sustainability (CCRS) at the University of Zurich

 
  OVERSTATEMENTS IN THE GRANDFATHERING PROCESS - THE OPPOSITE OF TAX EVASION?
Frauke Eckermann, University of Dortmund

 
  EMISSIONS TRADING AND PROFIT-NEUTRAL GRANDFATHERING
Robert Ritz, Oxford University
Co-Authors: Cameron Hepburn, Oxford University and John Quah, Oxford University

 
  THE OPTIMAL SIZE OF A PERMIT MARKET
Frank C. Krysiak, University of Basel
Co-Author: Patrick Schweitzer, Technische Universität Berlin
 

15:00 - 17:00 TRADE AND GROWTH (EEA)
Chairperson: Istvan Konya, Magyar Nemzeti Bank and Central European University
Room U-14

  PATH INTERDEPENDENCE AMONG EARLY AND LATE BLOOMERS IN A DYNAMIC HECKSCHER-OHLIN MODEL
Beatriz Gaitan, University of Hamburg
Co-Author: Terry Roe, University of Minnesota

 
  INTRA-INDUSTRY SPECIALIZATION AND GROWTH IN AN HECKSCHER-OHLIN WORLD, 1976-2000
Jacques Potin, ESSEC Business School
Co-Author: Catia Batista, University of Oxford

 
  DEVELOPMENT ACCOUNTING IN A HECKSCHER-OHLIN WORLD
Harald Fadinger, Department of Economics and Business, Universitat Pompeu Fabra

 
  ENDOGENOUS MOBILITY, HUMAN CAPITAL AND TRADE
Istvan Konya, Magyar Nemzeti Bank and Central European University
 

15:00 - 17:00 FISCAL POLICY IN EMERGING MARKETS (EEA)
Chairperson: Ibrahim Unalmis, University of York
Room U-16

  FISCAL AND MONETARY NEXUS IN EMERGING MARKET ECONOMIES: HOW DOES DEBT MATTER?
Garima Vasishtha, Bank of Canada
Co-Authors: Taimur Baig, IMF, Manmohan S. Kumar, IMF and Edda Zoli, IMF

 
  FISCAL DISCIPLINE AND STABILITY UNDER CURRENCY BOARD SYSTEMS
Oliver Grimm, ETH Zurich

 
  FISCAL POLICY VOLATILITY, EXTERNAL DEBT, AND GROWTH
Martin Schindler, IMF

 
  A FISCAL POLICY INDEX PROPOSITION FOR EMERGING MARKETS
Ibrahim Unalmis, University of York
 

15:00 - 17:00 INCENTIVES AND SOCIAL PREFERENCES (EEA)
Chairperson: Oddvar Kaarboe, University of Bergen
Room U-18

  DEDICATED DOCTORS: PUBLIC AND PRIVATE PROVISION OF HEALTH CARE WITH ALTRUISTIC PHYSICIANS
Josse Delfgaauw, Erasmus University Rotterdam

 
  SOCIAL EXCHANGE AND COMMON AGENCY IN ORGANIZATIONS
Hein Roelfsema, Utrecht School of Economics
Co-Author: Robert Dur, Erasmus University Rotterdam

 
  IS THERE A DEMAND RESPONSE BY PATIENTS IN PRIMARY CARE?
Oddvar Kaarboe, University of Bergen
 

15:00 - 17:00 THEORY I (EEA)
Chairperson: Salvador Barbera, Universitat Autonoma de Barcelona
Room U-19

  THE OPTIMAL NUMBER OF ORGANIZATIONS
Jo Thori Lind, University of Oslo

 
  UNAWARENESS OF THEOREMS
Spyros Galanis, University of Rochester

 
  CREDIBLE RATINGS
Wing Suen, University of Hong Kong
Co-Authors: Ettore Dimiano, University of Toronto and Hao Li, University of Toronto

 
  TOP MONOTONICITY: A WEAKK DOMAIN RESTRICTION ECOMPASSING SINGLE PEAKEDNESS, SINGLE CROSSING AND ORDER RESTRICTION
Salvador Barbera, Universitat Autonoma de Barcelona
Co-Author: BERNARDO MORENO, Universidad de Malaga
 

15:00 - 17:00 TECHNOLOGICAL PROGRESS (EEA)
Chairperson: Riccardo DiCecio, Federal Reserve Bank of St. Louis - Research Division
Room U-23

  MANAGING TECHNOLOGICAL REGRESS: INNOVATION, ADAPTATION, AND THE ROLE OF PATENTS
Timo Goeschl, University of Heidelberg
Co-Author: Timothy Swanson, University College London

 
  THE SPEED OF TECHNOLOGY ADOPTION WITH IMPERFECT INFORMATION IN EQUITY MARKETS
Katrin Tinn, London School of Economics

 
  HETEROGENEOUS FIRMS, PRODUCTIVITY, AND POVERTY TRAPS
Riccardo DiCecio, Federal Reserve Bank of St. Louis - Research Division

 
  TRIPS UNDER NO ENFORCEMENT OF THE NATIONAL TREATMENT COMMITMENT RULE
Rafael Pinho De Morais, University of Toulouse
 

15:00 - 17:00 CONTRIBUTED SESSIONS 1
ESEM: Theoretical and Applied Economics



15:00 - 17:00 ALLOCATION MECHANISMS (ESEM TAE)
Chairperson: Eva Benz, Bonn Graduate School of Economics
Room B-1

  MANNA FROM HEAVEN OR FORTY YEARS IN THE DESERT: OPTIMAL ALLOCATION WITHOUT TRANSFER PAYMENTS
Surajeet Chakravarty, University of Exeter
Co-Author: Todd Kaplan, University of Exeter

 
  STOCHASTIC MECHANISMS IN SETTINGS WITHOUT MONETARY TRANSFERS: REGULAR CASE
Eugen Kovac, University of Bonn
Co-Author: Tymofiy Mylovanov, University of Bonn

 
  THE COST-SHARING OF EXCLUDABLE PUBLIC GOODS
Antonio Nicolo', DEPARTMENT OF ECONOMICS, UNIVERSITY OF PADUA
Co-Author: JORDI MASSO', Departamento de Economia, Universitat Autonoma de Barcelona

 
  THE INITIAL ALLOCATION OF CO2 EMISSION ALLOWANCES: A THEORETICAL AND EXPERIMENTAL STUDY
Eva Benz, Bonn Graduate School of Economics
 

15:00 - 17:00 APPLIED INDUSTRIAL ORGANISATION (ESEM TAE)
Chairperson: Rainer Frey, Deutsche Bundesbank
Room B-13

  MARKET POWER, MULTIMARKET CONTACT AND PRICING: SOME EVIDENCE FROM THE US AUTOMOBILE MARKET
Nina Leheyda, CDSEM, University of Mannheim

 
  HOW CAN INSURANCE COMPANIES COMPETE WITH MUTUAL INSURERS? THE ROLE OF COMMITMENT
Renaud Bourlčs, G.R.E.Q.A.M

 
  MONOPOLY PROVISION OF TUNE-INS
Levent Celik, CERGE-EI

 
  THE ROLE OF TECHNOLOGY IN M&AS: A FIRM-LEVEL COMPARISON OF CROSS-BORDER AND DOMESTIC DEALS
Rainer Frey, Deutsche Bundesbank
Co-Author: Katrin Hussinger, Catholic University Leuven
 

15:00 - 17:00 ASSET PRICING (ESEM TAE)
Chairperson: Paulo Maio, Banco de Portugal
Room B-4

  INCOMPLETE MARKETS AND THE YIELD CURVE
François Le Grand, PSE
Co-Authors: Edouard Challe, CNRS and Xavier Ragot, CNRS

 
  ASSET PRICING IN A GENERAL EQUILIBRIUM PRODUCTION ECONOMY WITH CHEW–DEKEL RISK PREFERENCES
Rui Castro, Université de Montréal
Co-Authors: Claudio Campanale, and Gian Luca Clementi,

 
  THE QUALITY OF PUBLIC INFORMATION AND THE TERM STRUCTURE OF INTEREST RATES
Frederik Lundtofte, Dept of Economics - Lund University

 
  WHAT DOES THE CROSS-SECTION TELL ABOUT ITSELF? AN ASSET PRICING MODEL WITH CROSS-SECTIONAL MOMENTS
Paulo Maio, Banco de Portugal
 

15:00 - 17:00 BEHAVIOURAL ECONOMICS (ESEM TAE)
Chairperson: Clemens Puppe, University of Karlsruhe
Room A-5

  PROCRASTINATION, PARTIAL NAIVETE, AND BEHAVIORAL WELFARE ANALYSIS
Geir B. Asheim, University of Oslo

 
  THE EVOLUTION OF MORAL CODES OF BEHAVIOR
Christoph Kuzmics, Kellogg School of Management
Co-Author: Carlos Rodriguez-Sickert,

 
  DO THE RECIPROCAL TRUST LESS?
Steffen Altmann, University of Bonn and IZA
Co-Authors: Thomas Dohmen, IZA/Bonn and Matthias Wibral, University of Bonn and IZA

 
  WHY SUGGEST NON-BINDING RETAIL PRICES?
Clemens Puppe, University of Karlsruhe
Co-Author: Stephanie Rosenkranz, Utrecht School of Economics
 

15:00 - 17:00 CREDIT MARKETS (ESEM TAE)
Chairperson: Hajime Tomura, Bank of Canada
Room A-7

  THE IMPORTANCE OF BANK LOAN SUPPLY FOR REAL ECONOMIC ACTIVITY IN THE EURO AREA -- A PANEL DATA ANALYSIS
Christian Melzer, University of Bonn

 
  PRODUCTIVITY SHOCKS IN A MODEL WITH VINTAGE CAPITAL AND HETEROGENEOUS LABOR
Bharat Trehan, Federal Reserve bank of San Francisco
Co-Author: Milton Marquis, Florida State University

 
  MODELING CREDIT TO THE PRIVATE SECTOR IN THE EURO AREA: A NON LINEAR APPROACH
Leonardo Gambacorta, Banca d''Italia
Co-Author: Carlotta Rossi, Banca d'Italia

 
  FIRM DYNAMICS, BANKRUPTCY LAWS AND TOTAL FACTOR PRODUCTIVITY
Hajime Tomura, Bank of Canada
 

15:00 - 17:00 DEVELOPMENT ECONOMICS (ESEM TAE)
Chairperson: Zhong Zhao, Institute for the Study of Labor (IZA)
Room A-3

  FREE EDUCATION, FERTILITY AND HUMAN CAPITAL ACCUMULATION
Leonid Azarnert, Bar Ilan University

 
  "METROPOLIZATION AND DEVELOPMENT"
Paul Cahu, Université Paris 1 - CES

 
  STATUS-SEEKING BEHAVIOR, THE EVOLUTION OF INCOME INEQUALITY, AND GROWTH
Koichi Kawamoto, Osaka University

 
  THE FERTILITY EFFECT OF CATASTROPHE: U.S. HURRICANE BIRTHS
Zhong Zhao, Institute for the Study of Labor (IZA)
 

15:00 - 17:00 ECONOMIC THEORY (ESEM TAE)
Chairperson: Balkenborg Dieter, University of Exeter
Room A-2

  A NOTE ON THE CONVEXITY AND COMPACTNESS OF THE INTEGRAL OF A BANACH SPACE VALUED CORRESPONDENCE
Konrad Podczeck, University of Vienna

 
  COMPARATIVE STATICS WITH THE INTERVAL DOMINANCE ORDER
John Quah, Oxford University
Co-Author: Bruno Strulovici, Oxford University

 
  TERMINAL TYPE STRUCTURES
Amanda Friedenberg, Washington University

 
  REFINED BEST-RESPONSE CORRESPONDENCE AND DYNAMICS
Balkenborg Dieter, University of Exeter
Co-Authors: Josef Hofbauer, and Christoph Kuzmics, Kellogg School of Management
 

15:00 - 17:00 LEARNING (ESEM TAE)
Chairperson: Larry Samuelson, Yale University
Room A-4

  DISAGREEMENT AND LEARNING IN A DYNAMIC CONTRACTING MODEL
Mark Westerfield, University of Southern California
Co-Author: Tobias Adrian, Federal Reserve Bank of New York

 
  HOW TO LEARN WITHOUT PRIORS
Karl Schlag, European University Institute

 
  JOB MARKET SIGNALING AND EMPLOYER LEARNING
Julien Prat, University of Vienna
Co-Author: Carlos Alós-Ferrer, University of Konstanz

 
  COMMON LEARNING
Larry Samuelson, Yale University
 

15:00 - 17:00 WAGES, COMPENSATION (ESEM TAE)
Chairperson: Sandra Ludwig, University of Munich
Room U-5

  EXECUTIVE PAY WITH OBSERVABLE DECISIONS
Rosa Loveira, UNIVERSIDAD COMPLUTENSE DE MADRID
Co-Authors: Marco Celentani, Universidad Carlos III de Madrid and Pablo Ruiz-Verdu, Universidad Carlos III de Madrid

 
  CONTRACTUAL INCOMPLETENESS AS A SIGNAL OF TRUST
Florian Herold, Northwestern University

 
  RELATIONAL CONTRACTS WITH INDIVIDUAL AND STANDARDIZED WAGES
Wolfgang J. Luhan, University of Oldenburg
Co-Authors: Martin Kocher, CREED, Amsterdam and Matthias Sutter, University of Innsbruck

 
  TEAMS, INCENTIVES, AND INTERMEDIATE INFORMATION
Sandra Ludwig, University of Munich
 

15:00 - 17:00 CONTRIBUTED SESSIONS 1
ESEM: Econometrics and Empirical Economics



15:00 - 17:00 ARCH MODELS (ESEM EEE)
Chairperson: M. Angeles Carnero, Universidad de Alicante
Room B-12

  ESTIMATING GARCH VOLATILITY IN THE PRESENCE OF OUTLIERS
M. Angeles Carnero, Universidad de Alicante
Co-Authors: Daniel Peńa, Universidad Carlos III de Madrid and Esther Ruiz, Universidad Carlos III de Madrid

 
  THE RELATIONSHIP BETWEEN ARIMA-GARCH AND UNOBSERVED COMPONENT MODELS WITH GARCH DISTURBANCES
Antoni Espasa, Universidad Carlos III de Madrid
Co-Authors: Santiago Pellegrini, Universidad Carlos III de Madrid and Esther Ruiz, Universidad Carlos III de Madrid

 
  A COMPONENT GARCH MODEL WITH TIME VARYING WEIGHTS
Luc Bauwens, CORE - UC Louvain

 
  MULTIVARIATE REGIME SWITCHING GARCH WITH AN APPLICATION TO INTERNATIONAL STOCK MARKETS
Markus Haas, University of Munich
 

15:00 - 17:00 BANK AND MONETARY POLICY 1 (ESEM EEE)
Chairperson: Haroon Mumtaz, Bank of England
Room B-11

  INVESTIGATING THE STRUCTURAL STABILITY OF THE PHILLIPS CURVE TRADE-OFF
Haroon Mumtaz, Bank of England
Co-Author: Jan J. J. Groen, Bank of England

 
  A MODEL OF MONEY WITH MULTILATERAL MATCHING
Philipp Kircher, University of Pennsylvania

 
  MODEL SELECTION FOR MONETARY POLICY ANALYSIS---IMPORTANCE OF EMPIRICAL VALIDITY
Ragnar Nymoen, University of Oslo
Co-Author: Q. Farooq Akram, Norges Bank
 

15:00 - 17:00 CONSUMER BEHAVIOUR 1 (ESEM EEE)
Chairperson: Martin Browning, Oxford
Room B-10

  ALLOCATION WITHIN THE HOUSEHOLD: DIRECT SURVEY EVIDENCE.
Martin Browning, Oxford

 
  A DISCRETE CHOICE ESTIMATION OF A COLLECTIVE MODEL OF HOUSEHOLD LABOUR SUPPLY: AN APPLICATION FOR GERMANY
Denis Beninger, ZEW MANNHEIM

 
  AN EMPIRICAL MODEL OF SEARCH WITH VERTICALLY DIFFERENTIATED PRODUCTS
Matthijs Wildenbeest, Indiana University

 
  THE IMPACT ON BROADBAND ACCESS TO THE INTERNET OF THE DUAL OWNERSHIP OF TELEPHONE AND CABLE NETWORKS
Pedro Pereira, Portuguese Competition Authority
Co-Author: Tiago Ribeiro, INDERA
 

15:00 - 17:00 CROSS COUNTRY AND SPATIAL ECONOMETRICS (ESEM EEE)
Chairperson: Michael Pfaffermayr, Dept. of Economics, University of Innsbruck
Room B-6

  CONDITIONAL BEAT- AND SIGMA-CONVERGENCE IN SPACE: A MAXIMUM LIKELIHOOD APPROACH
Michael Pfaffermayr, Dept. of Economics, University of Innsbruck

 
  `DUAL' GRAVITY: USING SPATIAL ECONOMETRICS TO CONTROL FOR MULTILATERAL RESISTANCE
Wilfried Koch, LEG, Université de Bourgogne
Co-Authors: Kristian Behrens, CORE, Université catholique de Louvain and Cem Ertur, Laboratoire d'Economie d'Orléans - Université d'Orléans

 
  SMALL SAMPLE PROPERTIES OF MAXIMUM LIKELIHOOD VERSUS GENERALIZED METHOD OF MOMENTS BASED TESTS FOR SPATIALLY AUTOCORRELATED ERRORS
Mario Larch, ifo Institute for Economic Research
Co-Authors: Peter Egger, CES ifo, Michael Pfaffermayr, University of Innsbruck and Janette Walde,
 

15:00 - 17:00 ECONOMETRICS OF HEALTH 1 (ESEM EEE)
Chairperson: Sumedha Gupta, Tinbergen Institute, Vrije Universiteit Amsterdam
Room B-9

  EARLY LIFE CONDITIONS, MARITAL STATUS, AND MORTALITY
Sumedha Gupta, Tinbergen Institute, Vrije Universiteit Amsterdam
Co-Author: Gerard van den Berg, Free University, Amsterdam

 
  PHARMACEUTICAL EXPENDITURE, TOTAL HEALTH CARE EXPENDITURE AND GDP
marcuello carmina, university of zaragoza
Co-Authors: Montanes Antonio, University of Zaragoza and Clemente Jesus, university of zaragoza
 

15:00 - 17:00 FORECASTING (ESEM EEE)
Chairperson: Kees Jan van Garderen, University of Amsterdam
Room B-7

  FORECASTING GROWTH AND LEVELS IN LOGLINEAR UNIT ROOT MODELS
Kees Jan van Garderen, University of Amsterdam

 
  THE USE OF ENCOMPASSING TESTS FOR FORECAST COMBINATIONS
Kisinbay Turgut, IMF

 
  TOWARD OPTIMAL MULTISTEP FORECASTS IN UNSTABLE AUTOREGRESSIONS
Jin-Lung Lin, Institute of Economics, Academia Sinica
Co-Authors: Ching-Kang ING, Academia Sinica and Shu-Hui Yu, National Chi-Nan University

 
  A SIMILARITY-BASED APPROACH TO PREDICTION
Offer Lieberman, University of Haifa
Co-Authors: Itzhak Gilboa, Tel Aviv University and David Schmeidler, Tel Aviv University
 

15:00 - 17:00 HIGH FREQUENCY FINANCIAL ECONOMETRICS 1 (ESEM EEE)
Chairperson: Charles Bos, FEWEB, Vrije Universiteit Amsterdam
Room B-3

  HOW FREQUENTLY DOES THE STOCK PRICE JUMP? -- AN ANALYSIS OF HIGH-FREQUENCY DATA WITH MICROSTRUCTURE NOISES
Andras Fulop, ESSEC Business School Paris
Co-Author: Jin-Chuan Duan, Rotman School of Management, University of Toronto

 
  INTRADAILY SEASONALITY OF RETURNS DISTRIBUTION. A QUANTILE REGRESSION APPROACH AND INTRADAILY VAR.
Laura Coroneo, Universite Libre de Bruxelles
Co-Author: David Veredas, Universite Libre de Bruxelles

 
  LIQUIDITY-BASED ESTIMATION OF SPOT VOLATILITY UNDER MICROSTRUCTURE NOISE
Oliver Grothe, University of Cologne
Co-Author: Christoph Müller, University of Cologne

 
  MODEL-BASED ESTIMATION OF HIGH FREQUENCY JUMP DIFFUSIONS WITH MICROSTRUCTURE NOISE AND STOCHASTIC VOLATILITY
Charles Bos, FEWEB, Vrije Universiteit Amsterdam
 

15:00 - 17:00 NONPARAMETRIC METHODS 1 (ESEM EEE)
Chairperson: Anton Flossmann, Department of Economics, University of Konstanz
Room B-8

  EMPIRICAL BIAS BANDWIDTH CHOICE FOR LOCAL POLYNOMIAL MATCHING ESTIMATORS
Anton Flossmann, Department of Economics, University of Konstanz

 
  T-STATISTIC BASED CORRELATION AND HETEROGENEITY ROBUST INFERENCE
Ulrich Müller, Princeton
Co-Author: Rustam Ibragimov, Harvard University

 
  REPRESENTATION THEOREM FOR CONVEX NONPARAMETRIC LEAST SQUARES
Timo Kuosmanen, MTT

 
  IDENTIFICATION AND ESTIMATION OF INCENTIVE PROBLEMS: ADVERSE SELECTION
Xavier d''Haultfoeuille, ENSAE, CREST-INSEE
Co-Author: Philippe Fevrier, Crest-Lei
 

15:00 - 17:00 REGIME SWITCHING (ESEM EEE)
Chairperson: Bruno Feunou Kamkui, Université de Montréal
Room B-5

  REGIME SWITCHING AND TIME VARIATION OF CONDITIONAL SKEWNESS AND KURTOSIS IN S&P500
Bruno Feunou Kamkui, Université de Montréal

 
  THE YIELD SPREAD AND GDP GROWTH - TIME VARYING LEADING PROPERTIES AND THE ROLE OF MONETARY POLICY
Jens Hogrefe, University of Kiel

 
  OPTIMAL TEST FOR MARKOV SWITCHING GARCH MODELS
Liang Hu, University of Leeds
Co-Author: Yongcheol Shin, Unversity of Leeds

 
  DERIVING THE AUTOCOVARIANCES OF POWERS OF MARKOV-SWITCHING GARCH MODELS, WITH APPLICATIONS TO STATISTICAL INFERENCE
Jean-Michel Zakoian, CREST and University Lille 3
Co-Author: Christian Francq, University Lille 3
 

15:00 - 17:00 TESTING 1 (ESEM EEE)
Chairperson: Harald Lohre, Union Investment Institutional GmbH
Room B-2

  DISMANTLING THE GLOBAL ACCRUAL ANOMALY
Harald Lohre, Union Investment Institutional GmbH
Co-Author: Markus Leippold, Imperial College London

 
  THE PERFORMANCE OF CONVENTIONAL TESTS ABOUT AN EXPECTATION : A REASSESSMENT
Frederic Jouneau-sion, EQUIPPE univeriste de Lille
Co-Authors: Jean-Marie Dufour, U de Montreal and Olivier Torrčs, GREMARS Université Lille 3

 
  INDICES AND TESTS FOR MATCHING AND MOBILITY THEORIES: THE IMPACT OF THE ONE CHILD POLICY ON PARTNER CHOICE AND GENERATIONAL MOBILITY IN URBAN CHINA.
Gordon Anderson, Economics Department University of Toronto
Co-Author: Teng Wah Leo, Economics Department St francis Xavier University

 
  A SIMPLE HETEROSKEDASTICITY AND NONNORMALITY ROBUST F-TEST FOR INDIVIDUAL EFFECTS
Chris Orme, University of Manchester
Co-Author: Takashi Yamagata, University of Cambridge
 

17:00 - 17:30 COFFEE BREAK



17:30 - 19:30 FISHER SCHULTZ LECTURE



17:30 - 19:30 FISHER-SCHULTZ LECTURE (ESEM TAE)
Chairperson: János Kornai,
Room Intercontinental

  SEGREGATION AND DIVERSITY IN SOCIAL STRUCTURE: THE IMPACT ON ECONOMIC WELFARE
Matthew Jackson, Stanford University
 

20:00 - 22:30 WELCOME PARTY, PALACE OF ARTS


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