EEA-ESEM 2009: Congress Programme

The Congress Programme is subject to last minute changes.

This version of the Programme was viewed at 06/07/2009 11:53:52

SUNDAY 23 AUGUST 2009 | Mon 24 Aug | Tue 25 Aug | Wed 26 Aug | Thu 27 Aug.

DAY OVERVIEW
15:30 - 17:30 CONTRIBUTED SESSIONS 1
Contributed sessions ECONOMETRICS 1(ESEM EEE)
18:15 - 19:30 PLENARY SESSION 1 ESEM

15:30 - 17:30 CONTRIBUTED SESSIONS 1
EEA

15:30 - 17:30 BANKING AND FINANCIAL DEVELOPMENT I (EEA)
Chairperson: Staffan Ringbom, Hanken School of Economics
Room
  CONTRACT-INTENSIVE INDUSTRIES: DOES FINANCE MATTER?
Martin Strieborny, DEEP, University of Lausanne
Co-Author: Madina Kukenova, University of Lausanne

  
  FOREIGN BANK ENTRY AND CREDIT ALLOCATION IN EMERGING MARKETS
Olena Havrylchyk, CEPII
Co-Authors: Hans Degryse, CentER - Tilburg University, TILEC, European Banking CentER, and CESifo , Sylwester Kozak, NBP and Emilia Jurzyk, IMF

  
  INTEREST RATE SHOCKS AND CREDIT RISK
Carlos González-Aguado, CEMFI
Co-Author: Javier Suarez, CEMFI

  
  DO MARKUP DYNAMICS REFLECT FUNDAMENTALS OR CHANGES IN CONDUCT?
Staffan Ringbom, Hanken School of Economics
Co-Authors: Mikael Juselius, and Moshe Kim, Universitat Pompeu Fabra
  
15:30 - 17:30 CHILDREN WELLBEING (EEA)
Chairperson: Sarah Adelman, University of Maryland
Room
  THE IMPACT OF BUSINESS OPPORTUNITIES ON CHILD LABOUR AND SCHOOLING IN AN ECONOMY WITH INCOMPLETE LABOUR MARKET
Jibirila Leinyuy, Toulouse School of Economics, University of Toulouse 1

  
  REDISTRIBUTIONAL CONSEQUENCES OF EARLY CHILDHOOD INTERVENTION
Tim Lohse, Social Science Research Centre Berlin (WZB)
Co-Author: Peter F. Lutz, Leibniz University Hannover

  
  IT TAKES A FARMERS' GROUP TO RAISE A CHILD: THE IMPACT OF LOCAL SOCIAL NETWORKS ON CHILD HEALTH OUTCOMES IN NORTHERN UGANDA
Sarah Adelman, University of Maryland
  
15:30 - 17:30 CORPORATE FINANCE I (EEA)
Chairperson: Judit Montoriol-Garriga, Boston Fed
Room
  AGENCY PROBLEM AND OWNERSHIP STRUCTURE: OUTSIDE BLOCKHOLDER AS A SIGNAL
Sergey Stepanov, New Economic School
Co-Author: Anton Suvorov, New Economic School

  
  AN EMPIRICAL ANALYSIS OF LEGAL INSIDER TRADING IN THE NETHERLANDS
Jeremie Lefebvre, Tilburg University
Co-Authors: Hans Degryse, CentER - Tilburg University, TILEC, European Banking CentER, and CESifo and Frank de Jong, Tilburg University

  
  BUSY BOARDS IN A TWO-TIER SYSTEM: OLD-BOYS NETWORK OR EFFICIENT MONITORING TECHNOLOGY?
Michael Wolff, University Karlsruhe (TH)
Co-Authors: Jana Oehmichen, University Karlsruhe (TH) and Marc Steffen Rapp, Center for Entrepreneurial and Financial Studies (CEFS)

  
  ACCESS TO CREDIT AFTER BANKRUPTCY: DOES IT PAY TO BE A DEADBEAT?
Judit Montoriol-Garriga, Boston Fed
Co-Authors: Ethan Cohen-Cole, Boston Fed and Burcu Duygan-Bump, Boston Fed
  
15:30 - 17:30 CURRENT ACCOUNT DYNAMICS (EEA)
Chairperson: Giancarlo Corsetti, European University Institute
Room
  DISSECTING THE DYNAMICS OF THE US TRADE BALANCE IN AN ESTIMATED EQUILIBRIUM MODEL
Punnoose Jacob, Ghent University, Belgium
Co-Author: Gert Peersman, Ghent University

  
  HOUSING MARKETS AND CURRENT ACCOUNT DYNAMICS
Pedro Gete, University of Chicago

  
  REFORMS, FINANCE, AND CURRENT ACCOUNTS
Anna Lo Prete, Università di Torino
Co-Author: Giuseppe Bertola,

 
  WHAT DRIVES US FOREIGN BORROWING? EVIDENCE ON EXTERNAL ADJUSTMENT TO TRANSITORY AND PERMANENT SHOCKS
Giancarlo Corsetti, European University Institute
Co-Author: Panagiotis Konstantinou, University of Macedonia
  
15:30 - 17:30 DEVELOPMENT AND INSTITUTIONS (EEA)
Chairperson: Mathieu Couttenier, Paris 1 Sorbonne
Room
  THE ABILITY TO EXCLUDE AND INSTITUTIONAL CHANGE IN PROPERTY RIGHTS
Paul Castaneda Dower, New Economic School

  
  THE COSTS OF FAVORITISM: DO INTERNATIONAL POLITICS AFFECT WORLD BANK PROJECT QUALITY?
Axel Dreher, University of Goettingen
Co-Authors: Stephan Klasen, University of Goettingen, James Vreeland, Georgetown University and Eric Werker, Harvard Business School

  
  THE CULTURAL ROOTS OF INSTITUTIONS
Mariko Jasmin Klasing, University of St. Gallen

  
  RELATIONSHIP BETWEEN NATURAL RESOURCES AND INSTITUTIONS
Mathieu Couttenier, Paris 1 Sorbonne
  
15:30 - 17:30 ECONOMICS OF NETWORKS (EEA)
Chairperson: Horváth Gergely, University of Alicante
Room
  INEFFICIENCIES IN TRADE NETWORKS WITH HETEROGENEOUS GAINS FROM TRADE
Matthew Elliott, Stanford University

  
  IMITATION IN MINIMUM EFFORT NETWORK GAMES
Simon Weidenholzer, University of Vienna
Co-Author: Carlos Alos-Ferrer, University of Konstanz

  
  REPUTATION, OPTIMAL MEMORY AND THE EVOLUTION OF COOPERATION IN SOCIAL NETWORKS
Horváth Gergely, University of Alicante
Co-Authors: Jaromir Kovarik, University of Basque Country and Friederike Mengel, Maastricht University
  
15:30 - 17:30 ECONOMICS OF THE HOUSEHOLD I (EEA)
Chairperson: V. Bhaskar, UCL
Room
  DOES CHILD SPACING AFFECT CHILDREN’S OUTCOMES? EVIDENCE FROM A SWEDISH REFORM
Per Pettersson-Lidbom, Stockholm University
Co-Author: Peter Skogman Thoursie, Stockholm University, IFAU

  
  ESTIMATING INDIVIDUAL NON-LINEAR INCOME-HEALTH RELATIONSHIPS USING HOUSEHOLD DATA
Jinhyun Lee, UCL

  
  CROWDING OUT OF DAD? THE EFFECT OF A CASH-FOR-CARE SUBSIDY ON THE ALLOCATION OF TIME IN FAMILIES
Nina Eirin Drange, PhD student, University of Stavanger

  
  PARENTAL SEX SELECTION AND GENDER BALANCE
V. Bhaskar, UCL
  
15:30 - 17:30 ECONOMICS OF THE WELFARE SYSTEM (EEA)
Chairperson: Christoph Starke, Otto-von-Guericke-University Magdeburg
Room
  SOCIAL JEALOUSY AND STIGMA: NEGATIVE EXTERNALITIES OF SOCIAL ASSISTANCE PAYMENTS IN GERMANY
Sonja Kassenboehmer, RWI Essen
Co-Author: John Haisken-DeNew, RWI Essen

  
  INFORMAL CARING-TIME AND CARER SATISFACTION
Miriam Marcen, University of Zaragoza
Co-Author: José Alberto Molina, University of Zaragoza and IZA

  
  SERVING THE MANY OR SERVING THE MOST NEEDY?
Christoph Starke, Otto-von-Guericke-University Magdeburg
  
15:30 - 17:30 EDUCATION POLICY I (EEA)
Chairperson: Anders Stenberg, Stockholm University
Room
  AN EVALUATION OF THE IMPACT OF FUNDING AND SCHOOL SPECIALISATION ON STUDENT PERFORMANCE USING MATCHING MODELS
Giuseppe Migali, Lancaster University, UMG Catanzaro
Co-Author: Steve Bradley, Lancaster University

  
  THE DISINCENTIVE EFFECT OF AUTOMATIC PROMOTION ON STUDENT PERFORMANCE: EVIDENCE FROM A QUASI-EXPERIMENT IN BRAZIL
Martin Foureaux Koppensteiner, Queen Mary University of London

  
  THE DESIGN OF THE UNIVERSITY SYSTEM
Paola Valbonesi, Dept of Economics
Co-Author: Gianni De Fraja, University of Leicester

  
  UPGRADING THE LOW SKILLED: IS PUBLIC PROVISION OF FORMAL EDUCATION A SENSIBLE POLICY?
Anders Stenberg, Stockholm University
  
15:30 - 17:30 EMPIRICAL ASPECTS OF INFLATION (EEA)
Chairperson: Sarah Lein, Swiss National Bank
Room
  NON-NEUTRAL EFFECTS OF A CURRENCY CHANGEOVER AND THE HOMOGENEITY POSTULATE
Thomas Eife, University of Heidelberg

  
  DID THE TAYLOR RULE STABILIZE INFLATION IN BRAZIL?
Rodrigo Bueno, Getulio Vargas Foundation

  
  THE GLOBAL DIMENSION OF INFLATION – EVIDENCE FROM FACTOR-AUGMENTED PHILLIPS CURVES
Sandra Eickmeier, Deutsche Bundesbank
Co-Author: Katharina Moll, DIW

  
  IS THE PHILLIPS CURVE NONLINEAR? CAPACITY UTILISATION, CONSTRAINTS AND PRICE ADJUSTMENTS UNDER THE MICROSCOPE
Sarah Lein, Swiss National Bank
Co-Author: Eva Koeberl, ETH Zurich, KOF Swiss Economic Institute
  
15:30 - 17:30 FERTILITY I (EEA)
Chairperson: Peter Nilsson, Uppsala University and IFAU
Room
  MATERNITY LEAVE AND FERTILITY: USING MULTIPLE PARENTAL LEAVE REFORMS.*
Katrine Vellesen Løken, PhD-student
Co-Authors: Pedro Carneiro, and Kjell Salvanes, Univ of Bergen

  
  HYPERBOLIC DISCOUNTING AND FERTILITY
Matthias Wrede, University of Marburg

  
  BUSINESSES, BUDDIES AND BABIES: FERTILITY AND SOCIAL INTERACTIONS AT WORK
Peter Nilsson, Uppsala University and IFAU
Co-Author: Lena Hensvik, Uppsala University/IFAU
  
15:30 - 17:30 FINANCE (EEA)
Chairperson: Irasema Alonso, Yale university
Room
  SELF-FULFILLING LIQUIDITY DRY-UPS
Frédéric Malherbe, ECARES - ULB

  
  THE ROLE OF SIGNAL PRECISION AND TRANSACTION COSTS IN STOCK, OPTION AND VOLATILITY TRADING
Ramo Gencay, Simon Fraser University

  
  HIGHER-ORDER BELIEFS AMONG PROFESSIONAL STOCK MARKET FOECASTERS: WHO, HOW AND WHEN?
Maik Schmeling, Leibniz University Hannover
Co-Authors: Jesper Rangvid, Copenhagen Business School (CBS) and Andreas Schrimpf, Centre for European Economic Research (ZEW)

  
  ENDOGENOUS AGGREGATE BELIEFS: EQUITY TRADING UNDER HETEROGENEITY IN AMBIGUITY AVERSION
Irasema Alonso, Yale university
  
15:30 - 17:30 GROWTH AND PRODUCTIVITY (EEA)
Chairperson: Andrea Gamba, Bocconi University
Room
  SOLOW RESIDUALS WITHOUT CAPITAL STOCKS
Battista Severgnini, Humboldt University Berlin
Co-Author: Michael Burda, Humboldt University Berlin

  
  A REAL MODEL OF TRANSITIONAL GROWTH AND COMPETITIVENESS IN CHINA
Celine Rochon, University of Oxford
Co-Authors: Leslie Lipschitz, IMF and Genevieve Verdier, IMF

  
  NEIGHBORS MATTER: EVIDENCE ON TRADE, GROWTH AND PRODUCTIVITY
Andrea Gamba, Bocconi University
  
15:30 - 17:30 HEALTH ECONOMICS I (EEA)
Chairperson: Silvia Appelt, MGSE, Ludwig-Maximilians-University, Munich
Room
  WINNING BIG BUT FEELING NO BETTER? THE EFFECT OF LOTTERY PRIZES ON PHYSICAL AND MENTAL HEALTH
Benedicte Apouey, Paris School of Economics (PSE)
Co-Author: Andrew Clark, Paris School of Economics

  
  CO-PAY AND FEEL OKAY: EVIDENCE OF ILLUSORY HEALTH GAINS FROM A HEALTH INSURANCE REFORM
Alfredo Paloyo, Ruhr Graduate School in Economics

  
  CLEAN WATER MAKES YOU DIRTY: WATER SUPPLY AND SANITATION IN THE PHILIPPINES
Daniel Bennett, University of Chicago

  
  EARLY ENTRIES AND TRADEMARKS - AN EMPIRICAL EXAMINATION OF BARRIERS TO GENERIC ENTRY
Silvia Appelt, MGSE, Ludwig-Maximilians-University, Munich
  
15:30 - 17:30 INDUSTRIAL ORGANIZATION I (EEA)
Chairperson: Ramon Caminal, Institut d''Anàlisi Econòmica, CSIC
Room
  CONSUMER WELFARE AND MARKET STRUCTURE IN A MODEL OF COMPETITION BETWEEN OPEN SOURCE AND PROPRIETARY SOFTWARE
Alexia Gaudeul, Friedrich-Schiller-University, Jena, Graduate School "Human Behaviour in Social and Economic Change" (GSBC)

  
  DIFFERENTIATION AND INNOVATION ADOPTION
Thibault Larger, Toulouse School of Economics, ENAC, CNES

  
  COMPATIBILITY WITH FIRM DOMINANCE
María-Fernanda Viecens, FEDEA

  
  THE DESIGN AND EFFICIENCY OF LOYALTY REWARDS
Ramon Caminal, Institut d''Anàlisi Econòmica, CSIC
  
15:30 - 17:30 INTERNATIONAL FINANCE I (EEA)
Chairperson: Tobias Broer, European University Institute
Room
  CENTRAL LIQUIDITY AND MARKET LIQUIDITY: THE ROLE OF ECB COLLATERAL POLICY ON THE MARKET FOR FRENCH GOVERNMENT DEBT SECURITIES
Julien Idier, Banque de France & université Paris 1
Co-Author: Sanvi Avouyi-Dovi, Banque de France

  
  CREDIT MARKET IMPERFECTIONS AND INTERNATIONAL FINANCIAL INTEGRATION IN A HETEROGENEOUS AGENT MODEL
Maik Heinemann, University of Lueneburg
Co-Author: Christiane Clemens, University of Hamburg

  
  DOMESTIC OR GLOBAL IMBALANCES? RISING INEQUALITY AND THE FALL IN THE US CURRENT ACCOUNTX
Tobias Broer, European University Institute
  
15:30 - 17:30 INTERNATIONAL TRADE AND FIRM HETEROGENEITY I (EEA)
Chairperson: Philippe Andrade, Banque de France
Room
  HETEROGENEOUS FIRMS, QUALITY, AND TRADE
Alexis Antoniades, Georgetown University

  
  INTERNATIONAL TRADE, FACTOR SHARES IN PRODUCTION AND FACTOR PRICES
Julian Emami Namini, Erasmus University Rotterdam

  
  FIRM HETEROGENEITY AND COUNTRY SIZE DEPENDENT MARKET ENTRY COSTS
Anders Akerman, Research Institute of Industrial Economics
Co-Author: Rikard Forslid, Stockholm University

  
  COMPETITION AND PASS-THROUGH ON INTERNATIONAL MARKETS: EVIDENCE FROM FRENCH FIRMS
Philippe Andrade, Banque de France
Co-Authors: Agnès Benassy-Quéré, CEPII and Martine Carré, Cepii & U-Cergy
  
15:30 - 17:30 LABOR SUPPLY (EEA)
Chairperson: Karl Taylor, University of Sheffield
Room
  DISABILITY SCREENING AND THE LABOR SUPPLY OF OLDER WORKERS: EVIDENCE FROM A LARGE POLICY CHANGE
Stefan Staubli, University of St. Gallen

  
  HOUSEHOLD RESPONSES TO INDIVIDUAL SHOCKS: DISABILITY AND LABOR SUPPLY
Giovanni Gallipoli, University of British Columbia
Co-Author: Laura Turner, University of british Columbia (from August 2009 Assistant Professor at University of Toronto)

  
  LABOUR SUPPLY AND COMMUTING: IMPLICATIONS FOR OPTIMAL ROAD TAXES
Eva Gutierrez-i-Puigarnau, VU University Amsterdam
Co-Author: Jos van Ommeren, VU University Amsterdam

  
  RESERVATION WAGES, LABOUR MARKET PARTICIPATION AND HEALTH
Karl Taylor, University of Sheffield
Co-Authors: Sarah Brown, University of Sheffield and Jennifer Roberts, University of Sheffield
  
15:30 - 17:30 MACROECONOMICS: CONSUMPTION (EEA)
Chairperson: Stefan Kuehn, Maastricht University
Room
  TESTING THE OPTIMALITY OF AGGREGATE CONSUMPTION DECISIONS: IS THERE RULE-OF-THUMB BEHAVIOR?
Joao Issler, Graduate School of Economics -- EPGE, Getulio Vargas Foundation
Co-Author: Fabio Gomes, IBMEC-SP

  
  EARNINGS PERSISTENCE, HOMEOWHERSHIP PROFILE, MOBILITY AND INCREASING MORTGAGE DEBT
Filippo Scoccianti, Bank of Italy

  
  CROWDING IN OF CONSUMPTION IN AN NEW KEYNESIAN ENDOGENOUS GROWTH MODEL
Stefan Kuehn, Maastricht University
Co-Authors: Joan Muysken, Maastricht University and Tom van Veen, Maastricht University
  
15:30 - 17:30 MONETARY POLICY I (EEA)
Chairperson: Michele Lenza, European Central Bank
Room
  THE REAL PREDICTIVE ABILITY OF NEW KEYNESIAN MODELS
Mu-Chun Wang, Goethe-University Frankfurt
Co-Author: Christian Matthes, New York University

  
  MONETARY POLICY SHOCKS AND PORTFOLIO CHOICE
Christian Saborowski, University of Warwick
Co-Authors: Marcel Fratzscher, European Central Bank and Roland Straub, European Central Bank

  
  'REAL TIME' EARLY WARNING INDICATORS FOR COSTLY ASSET PRICE BOOM/BUST CYCLES: A ROLE FOR GLOBAL LIQUIDITY
Lucia Alessi, European Central Bank
Co-Author: Carsten Detken, European Central Bank

  
  MONETARY ANALYSIS WITH DISAGGREGATED VARIABLES
Michele Lenza, European Central Bank
Co-Authors: Domenico Giannone, ECB and Lucrezia Reichlin, London Business School
  
15:30 - 17:30 NATURAL RESOURCE ECONOMICS I (EEA)
Chairperson: Michael Hoel, University of Oslo
Room
  FAMILY ALTRUISM WITH A RENEWABLE RESOURCE AND POPULATION GROWTH
Stéphane Lambrecht, Université Lille 1 Sciences et Technologies
Co-Author: Thierry Bréchet, CORE - UCL

  
  SPATIAL ALLOCATION OF PROPERTY RIGHTS – THE CASE OF INTERNATIONAL FISHERY
Raoul Schneider, Institute of Economics, Ulm University
Co-Authors: Michael Finus, Department of Economics, University of Stirling and Pedro Pintassilgo, Faculty of Economics, University of Algarve

  
  BUSH MEETS HOTELLING: EFFECTS OF IMPROVED RENEWABLE ENERGY TECHNOLOGY ON GREENHOUSE GAS EMISSIONS.
Michael Hoel, University of Oslo
  
15:30 - 17:30 PENSIONS AND SOCIAL SECURITY (EEA)
Chairperson: Andreas Irmen, University of Heidelberg
Room
  OPTIMAL ANNUITIZATION WITH BACKGROUND RISK AND EQUITY EXPOSURE DURING RETIREMENT
Kim Peijnenburg, Tilburg University
Co-Authors: Theo Nijman, Tilburg University and Bas Werker, Tilburg university

  
  TARGETING RISK LOVERS? INCENTIVES FOR PRIVATE PENSION SAVINGS WITH HETEROGENEOUS RISK PREFERENCES
Jenny Säve-Söderbergh, Stockholm University
Co-Author: Bo Larsson, Högskolan Dalarna

 
  PENSION REFORM AND INDIVIDUAL ACCOUNTS
Julia Le Blanc, Goethe University Frankfurt and CFS
Co-Author: Almuth Scholl, University of Konstanz

  
  POPULATION, PENSIONS, AND ENDOGENOUS ECONOMIC GROWTH
Andreas Irmen, University of Heidelberg
Co-Author: Burkhard Heer, School of Economics and Management, Free University of Bolzano
  
15:30 - 17:30 POLITICAL ECONOMY I (EEA)
Chairperson: Federico Cingano, Bank of Italy
Room
  POLITICAL INTERGENERATIONAL RISK SHARING
Vincenzo Galasso, IGIER
Co-Author: Marcello D'Amato, Università di Salerno

  
  DOES LEGISLATIVE REPRESENTATION OF ANTI-IMMIGRATION AND GREEN PARTIES AFFECT POLICY OUTCOMES?
Olle Folke, Institue for International Economic Studies, Stockholm University

  
  HETEROGENEOUS LOBBYING EFFICIENCY
Julien Vauday, Ecole Polytechnique

  
  POLITICIANS AT WORK: ECONOMIC RETURNS TO POLITICAL CONNECTIONS IN PRODUCT AND FACTOR MARKETS
Federico Cingano, Bank of Italy
Co-Author: Paolo Pinotti, Banca d''Italia
  
15:30 - 17:30 SOCIAL INTERACTIONS (EEA)
Chairperson: T. Daniel Sunesson, Stockholm School of Economics
Room
  MATCHING AND NETWORK EFFECTS
Marco van der Leij, University of Alicante
Co-Authors: Marcel Fafchamps, University of Oxford and Sanjeev Goyal, University of Cambridge

  
  ON THE RELATIONSHIP BETWEEN UNEXPLAINED WAGE GAP AND SOCIAL NETWORK CONNECTIONS FOR ETHNICAL GROUPS
Ott Toomet, Aarhus School of Business, Aarhus University
Co-Authors: Meredith Rolfe, University of Oxford and Marco van der Leij, University of Alicante

  
  LIKE OIL AND WATER OR CHOCOLATE AND PEANUT BUTTER? ETHNIC COMPOSITION AND SOCIAL PARTICIPATION OF YOUNG PEOPLE IN ENGLAND
Elena Fumagalli, Università Ca Foscari Venice
Co-Author: Laura Fumagalli, institute for social and economic research (ISER)

  
  UNVEILING THE SECRETS OF THE ACADEMY: ALUMNI NETWORKS AND UNIVERSITY ENDOWMENT SUCCESS
T. Daniel Sunesson, Stockholm School of Economics
  
15:30 - 17:30 WEALTH DISTRIBUTION AND INEQUALITY (EEA)
Chairperson: Hans Peter Gruener, University of Mannheim
Room
  WEALTH INEQUALITY AND HOUSEHOLD STRUCTURE: US VS. SPAIN
Olympia Bover, Banco de España

  
  MEASURING RICHNESS AND POVERTY - A MICRO DATA APPLICATION TO EUROPE AND GERMANY
Andreas Peichl, IZA Bonn
Co-Authors: Scheicher Christoph , University of Cologne and Thilo Schaefer, University of Cologne

  
  POLARIZATION UNDER INCOMPLETE MARKETS AND ENDOGENOUS LABOR PRODUCTIVITY
Francesc Obiols-Homs, Universitat Autònoma de Barcelona
Co-Author: Albert Marcet, IAE-CSIC

  
  CAPITAL MARKETS, INFORMATION AGGREGATION AND INEQUALITY: THEORY AND EXPERIMENTAL EVIDENCE
Hans Peter Gruener, University of Mannheim
  
15:30 - 17:30 CONTRIBUTED SESSIONS 1
ESEM: Theoretical and Applied Economics

15:30 - 17:30 AUCTIONS I (ESEM TAE)
Chairperson: Angel Hernando-Veciana, Universidad Carlos III
Room
  A PURE VARIATION OF RISK IN PRIVATE-VALUE AUCTIONS
J. Philipp Reiss, Maastricht University
Co-Authors: Oliver Kirchkamp, University of Jena and Karim Sadrieh, University of Magdeburg

  
  FIRST-PRICE AUCTIONS, SELLER INFORMATION AND COMMITMENT TO SELL
Frank Rosar, University of Mannheim

  
  RESALE AND BUNDLING IN AUCTIONS
Marco Pagnozzi, Università di Napoli Federico II

  
  SECOND BEST EFFICIENCY IN AUCTIONS
Angel Hernando-Veciana, Universidad Carlos III
Co-Author: Fabio Michelucci, California Institute of Technology
  
15:30 - 17:30 REPUTATIONS (ESEM TAE)
Chairperson: Heiner Schumacher, Goethe-University Frankfurt
Room
  REPUTATION WHEN ALL TYPES ARE RATIONAL: A MODEL OF ONLINE SELLERS
In-Uck Park, University of Bristol
Co-Author: Bruno Jullien, Toulouse School of Economics and IDEI

  
  REPUTATION WITH LONG RUN PLAYERS AND IMPERFECT OBSERVATION
Alp Atakan, MEDS/KSM, Northwestern University
Co-Author: Mehmet Ekmekci, MEDS/KSM, Northwestern University

  
  EXPERTISE AND BIAS IN DECISION MAKING
Sylvain Bourjade, Toulouse Business School
Co-Author: Bruno Jullien, Toulouse School of Economics and IDEI

  
  THE VALUE OF MONITORING INFORMATION
Heiner Schumacher, Goethe-University Frankfurt
Co-Author: Jeanine Miklós-Thal, MIT Sloan and ZEW Centre for European Economic Research, Mannheim
  
15:30 - 17:30 AXIOMATIC MODELS (ESEM TAE)
Chairperson: Jorge Alcalde-Unzu, University of the Basque Country
Room
  A CENTERED INDEX OF SPATIAL CONCENTRATION: AXIOMATIC APPROACH WITH AN APPLICATION TO POPULATION AND CAPITAL CITIES
Filipe Campante, Harvard University
Co-Author: Quoc-Anh Do, Singapore Management University

  
  MEASURING ECONOMIC INSECURITY
Conchita D'Ambrosio, Universita'' di Milano-Bicocca and DIW Berlin
Co-Author: Walter Bossert, Department of Economics and CIREQ, University of Montreal

  
  ON MEASURING CONSENSUS
Jorge Alcalde-Unzu, University of the Basque Country
Co-Author: Marc Vorsatz, Fundacion de Estudios de Economia Aplicada
  
15:30 - 17:30 SEARCH AND MATCHING I (ESEM TAE)
Chairperson: Ronald Wolthoff, University of Chicago
Room
  A FRICTIONAL MATCHING MODEL OF TWO-SIDED PLATFORMS
Yen-Chi Huang, National Central University
Co-Author: Kong-Pin Chen, Academia Sinica

  
  ON PRICE DISPERSION, SEARCH EXTERNALITIES, AND THE DIGITAL DIVIDE
Manfred Nermuth, University of Vienna
Co-Authors: Giacomo Pasini, University of Venice and NETSPAR, Paolo Pin, Dipartimento di Economia Politica - Università degli Studi di Siena and Simon Weidenholzer, University of Vienna

  
  COMPETITIVE SEARCH EQUILIBRIUM WITH REHIRING
Javier Fernandez-Blanco, University Carlos III of Madrid

  
  EX ANTE AND EX POST INEFFICIENCY IN SEARCH AND MATCHING MODELS
Ronald Wolthoff, University of Chicago
  
15:30 - 17:30 APPLIED INDUSTRIAL ORGANIZATION I (ESEM TAE)
Chairperson: Golo Henseke, Rostock University, Institute of Economics
Room
  INCENTIVES TO INVEST AND TO GIVE ACCESS TO NON-REGULATED NEXT GENERATION NETWORKS
João Vareda, Autoridade da Concorrência
Co-Authors: Duarte Brito, DCSA, Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa and Pedro Pereira, Autoridade da Concorrência

  
  VERTICAL INTEGRATION IN TWO-SIDED MARKETS
Thomas Tregouet, Department of Economics, Ecole Polytechnique

  
  TECHNOLOGY INTENSITY AND (SELF-) SELECTION OF INVENTORS
Golo Henseke, Rostock University, Institute of Economics
  
15:30 - 17:30 FINANCIAL ECONOMICS I (ESEM TAE)
Chairperson: Kirsten Ralf, Ecole Supérieure du Commerce Extérieur
Room
  CREDIT MARKETS, BOARD SIZE AND BOARD COMPOSITION
Gorm Grønnevet, Norwegian School of Economics and Business Administration
Co-Author: Jack Stecher, Tepper School of Business

 
  INTEREST RATES IN TRADE CREDIT MARKETS
Humberto Moreira, Fundação Getulio Vargas
Co-Authors: Klenio Barbosa, Toulouse School of Economics and Walter Novaes, PUC-Rio

  
  OPTIMAL FINANCIAL STRUCTURE AND ASSET PRICES
Johan Hombert, ENSAE-CREST

  
  PATENTS AS COLLATERAL
Kirsten Ralf, Ecole Supérieure du Commerce Extérieur
Co-Authors: Bruno Amable, CES Université Paris 1 and Jean-Bernard Chatelain, University of Paris 1
  
15:30 - 17:30 INTERNATIONAL TRADE I (ESEM TAE)
Chairperson: Pedro Ferreira, Fundação Getulio Vargas
Room
  FDI AND THE LABOR SHARE IN DEVELOPING COUNTRIES: A THEORY AND SOME EVIDENCE
Paul Maarek, GREQAM Université aix-marseilles II
Co-Author: Bruno Decreuse, GREQAM

  
  GRAVITY, PRODUCTIVITY AND THE PATTERN OF PRODUCTION AND TRADE
James E. Anderson, Boston College

  
  TRADE IN INTERMEDIATE GOODS AND TOTAL FACTOR PRODUCTIVITY
Pedro Ferreira, Fundação Getulio Vargas
Co-Author: Alberto Trejos, Incae
  
15:30 - 17:30 GROWTH I (ESEM TAE)
Chairperson: Stefanski Radoslaw, University of Minnesota
Room
  A THREE-SECTOR MODEL OF STRUCTURAL TRANSFORMATION AND ECONOMIC DEVELOPMENT
El-hadj Bah, The University of Auckland

  
  DETERMINANTS OF LABOR PRODUCTIVITY: AN EMPIRICAL INVESTIGATION OF PRODUCTIVITY DIVERGENCE
Misbah Tanveer Choudhry, University of Groningen

  
  GROWTH AND STRUCTURAL TRANSFORMATION
Akos Valentinyi, University of Southampton
Co-Authors: Berthold Herrendorf, Arizona State University and Richard Rogerson, Arizona State University

  
  STRUCTURAL TRANSFORMATION AND THE OIL PRICE
Stefanski Radoslaw, University of Minnesota
  
15:30 - 17:30 INDUSTRIAL ORGANIZATION: MERGERS AND COMPETITION (ESEM TAE)
Chairperson: Markus Reisinger, University of Munich
Room
  THE ABC OF COMPLEMENTARY PRODUCTS MERGERS
Yves Schneider, Swiss National Bank
Co-Authors: Simon P. Anderson, University of Virginia and Simon Loertscher, University of Melbourne

  
  TRIPS UNDER NO ENFORCEMENT OF THE NATIONAL TREATMENT COMMITMENT RULE
Rafael Morais, getulio vargas foundation

  
  COMPETITIVE EFFECTS OF VERTICAL INTEGRATION WITH DOWNSTREAM OLIGOPSONY AND OLIGOPOLY
Markus Reisinger, University of Munich
Co-Author: Simon Loertscher, University of Melbourne
  
15:30 - 17:30 CONTRIBUTED SESSIONS 1
ESEM: Econometrics and Empirical Economics

15:30 - 17:30 Contributed sessions ECONOMETRICS 1(ESEM EEE)
DEMOGRAPHIC ECONOMETRICS (ESEM EEE)
Chairperson: Michele Belot, Nuffield College
Room
  DETERMINANTS OF BIRTHWEIGHT OUTCOMES: QUANTILE REGRESSIONS BASED ON PANEL DATA
Christian M. Dahl, University of Aarhus
Co-Author: Stefan Bache, University of Aarhus

  
  CAUGHT IN THE BULIMIC TRAP: THE ADDICTIVE NATURE OF EATING DISORDERS
Michelle Goeree, University of Southern California
Co-Authors: John Ham, University of Maryland and Danelia Iorio, Autonoma Barcelona

  
  ANTHROPOMETRY OF LOVE: HEIGHT AND GENDER ASYMMETRIES IN INTERETHNIC MARRIAGES
Michele Belot, Nuffield College
Co-Author: Jan Fidrmuc, Brunel University
  
15:30 - 17:30 INCOMES AND WAGES (ESEM EEE)
Chairperson: Sarolta Laczó, Toulouse School of Economics (Gremaq)
Room
  HETEROGENEITY IN INCOME PROCESSES
Andriy Norets, Princeton University
Co-Author: Sam Schulhofer-Wohl, Princeton University

  
  INCOME DYNAMICS IN CONTINUOUS TIME
Mark Trede, Westfälische Wilhelms-Universität Münster
Co-Author: Christian Schluter, University of Southampton

  
  A LIFE-CYCLE MODEL OF ENTREPRENEURIAL CHOICE: UNDERSTANDING ENTRY INTO AND EXIT FROM SELF-EMPLOYMENT
Adachi Takanori, Tokyo Institute of Technology

  
  DISTINGUISHING BETWEEN MODELS OF RISK SHARING
Sarolta Laczó, Toulouse School of Economics (Gremaq)
  
15:30 - 17:30 APPLIED MACROECONOMETRICS (ESEM EEE)
Chairperson: Jana Riedel, University of Muenster, Germany
Room
  MARKET FORECASTS IN BRAZIL: PERFORMANCE AND DETERMINANTS
Fabia Carvalho, Central Bank of Brazil
Co-Author: Andre Minella, Central Bank of Brazil

  
  THE ROLE OF TERM STRUCTURE IN THE U.S. MONETARY POLICY RULE: REVISED AND REAL-TIME DATA
Ramón María-Dolores, Universidad de Murcia
Co-Authors: Juan Miguel Londoño, University of the Vasque Country and Jesus Vazquez, University of the Vasque Country

  
  MODELLING THE DYNAMICS OF THE COMBINED RATIO IN FRANCE: EVIDENCE FROM STRUCTURAL CHANGE
Nadia Sghaier, Economix
Co-Author: Catherine Bruneau, Economix

  
  NONLINEAR INTEREST RATE REACTION FUNCTIONS FOR THE UK
Jana Riedel, University of Muenster, Germany
Co-Author: Ralf Brüggemann, University of Konstanz
  
15:30 - 17:30 PORTFOLIO CHOICE (ESEM EEE)
Chairperson: Maria Elvira Mancino, University of Firenze
Room
  SELECTIVITY, MARKET TIMING AND THE MORNINGSTAR STAR-RATING SYSTEM
Nikolaos Kourogenis, University of Piraeus, Department of Banking and Financial Management
Co-Authors: Antonios Antypas, University of Piraeus, Department of Banking and Financial Management, Guglielmo Maria Caporale, Brunel University, London and Nikitas Pittis, University of Piraeus, Department of Banking and Financial Management

  
  UNDERSTANDING PORTFOLIO EFFICIENCY WITH CONDITIONING INFORMATION
Penaranda Francisco, Universitat Pompeu Fabra

  
  BUBBLES AND INVESTMENT HORIZONS
Erik Kole, Econometric Institute, Erasmus University Rotterdam
Co-Author: Nadja Guenster, Maastricht University

  
  DYNAMIC PORTFOLIO MANAGEMENT: AN APPLICATION OF FOURIER METHOD FOR COVARIANCE ESTIMATION
Maria Elvira Mancino, University of Firenze
Co-Author: Simona Sanfelici, University of Parma
  
15:30 - 17:30 ECONOMETRICS OF AUCTIONS (ESEM EEE)
Chairperson: Philippe Fevrier, Crest-Lei
Room
  QUANTITY-BEFORE-PRICE AUCTION: EVALUATING THE PERFORMANCE OF THE BRAZILIAN EXISTING ENERGY MARKET
Rodrigo Moita, Ibmec Sao Paulo
Co-Author: Leonardo Rezende, PUC-Rio

  
  THE ECONOMETRICS OF AUCTIONS WITH ASYMMETRIC ANONYMOUS BIDDERS
Laurent Lamy, Paris School of Economics (PSE)

  
  PHASE PLANE ANALYSIS OF WEAKLY ASYMMETRIC AUCTIONS: TWO BASIC EXAMPLES
Juan Momparler , UNIVERSITY JAUME I
Co-Author: Pablo Gregori, Universitat Jaume I de Castello

  
  THE NONPARAMETRIC ECONOMETRICS OF COMMON VALUE MODELS
Philippe Fevrier, Crest-Lei
Co-Author: Xavier D'Haultfoeuille, crest Lei
  
15:30 - 17:30 ECONOMETRIC THEORY 1 (ESEM EEE)
Chairperson: Jan Magnus, Tilburg University
Room
  GENERALIZED METHOD OF TRIMMED MOMENTS
Pavel Cizek, Tilburg University

  
  LARGE SAMPLE PROPERTIES OF THE THREE-STEP EUCLIDEAN LIKELIHOOD ESTIMATORS UNDER MODEL MISSPECIFICATION
Prosper Dovonon, Barclays Wealth

  
  SIMPLE TESTS FOR EXOGENEITY OF A BINARY EXPLANATORY VARIABLE IN COUNT DATA REGRESSION MODELS
Kevin Staub, University of Zurich

  
  MAXIMUM LIKELIHOOD ESTIMATION OF THE MULTIVARIATE NORMAL MIXTURE MODEL
Jan Magnus, Tilburg University
Co-Author: Otilia Boldea, Tilburg University
  
15:30 - 17:30 ARCH MODELS 1 (ESEM EEE)
Chairperson: Peter Boswijk, University of Amsterdam
Room
  MEASURING VOLATILITY REGIME SWITCHING AND VOLATILITY CONTAGION: A RANGE-BASED VOLATILITY APPROACH
Min-Hsien Chiang, Institute of International Business, National Cheng Kung University, Tainan
Co-Author: Li-Min Wang, Institute of International Business, National Cheng Kung University, Taiwan

  
  PARAMETER ESTIMATION IN NONLINEAR AR-GARCH MODELS
Mika Meitz, Koc University
Co-Author: Pentti Saikkonen, University of Helsinki

  
  OPTIMAL PREDICTIONS OF POWERS OF CONDITIONALLY HETEROSKEDASTIC PROCESSES
Jean-Michel Zakoian, CREST and Université Lille 3
Co-Author: Christian FRANCQ, GREMARS-EQUIPPE University Lille 3

  
  METHOD OF MOMENTS ESTIMATION OF GO-GARCH MODELS
Peter Boswijk, University of Amsterdam
Co-Author: Roy van der Weide, World Bank
  
15:30 - 17:30 FORECASTING 1 (ESEM EEE)
Chairperson: L. Vanessa Smith, University of Cambridge
Room
  A REAL-TIME COMPARISON OF MIXED-FREQUENCY MODELS FOR PREDICTING GDP
Saruta Benjanuvatra, University of York

  
  FORECASTING RANDOM WALKS UNDER DRIFT INSTABILITY
Andreas Pick, De Nederlandsche Bank
Co-Author: Hashem Pesaran, University of Cambridge

  
  FORECASTING INTEREST RATES AND INFLATION: BLUE CHIP CLARIVOYANTS OR ECONOMETRICS?
Albert Lee Chun, Copenhagen Business School, Dept of Finance

  
  FORECASTING ECONOMIC AND FINANCIAL VARIABLES WITH GLOBAL VARS
L. Vanessa Smith, University of Cambridge
Co-Authors: Hashem Pesaran, University of Cambridge and Til Schuermann, Federal Reserve Bank of New York
  
15:30 - 17:30 EXPECTATIONS AND LEARNING (ESEM EEE)
Chairperson: Karen Van der Wiel, Tilburg University
Room
  SURVEY EXPECTATIONS, LEARNING AND THE MACROECONOMIC PERSISTENCY
Arturo Ormeno, Universitat Pompeu Fabra

  
  THE RELEVANCE OF ACCURACY FOR THE IMPACT OF MACROECONOMIC NEWS ON VOLATILITY
Helinä Laakkonen, University of Helsinki and JyU
Co-Author: Markku Lanne,

 
  GROWING UP IN BAD TIMES: MACROECONOMIC VOLATILITY AND THE FORMATION OF BELIEFS
Paola Giuliano, UCLA
Co-Author: antonio spilimbergo, International Monetary Fund

  
  HAVE YOU HEARD THE NEWS? HOW REAL-LIFE EXPECTATIONS REACT TO PUBLICITY
Karen Van der Wiel, Tilburg University
  
15:30 - 17:30 PANEL DATA: (NON-)STATIONARITY (ESEM EEE)
Chairperson: Jean-Pierre Urbain, Maastricht University
Room
  NOT SO FIXED EFFECTS: CORRELATED STRUCTURAL BREAKS IN PANEL DATA
Hugo Kruiniger, Queen Mary, University of London

  
  A SIMPLE PANEL STATIONARITY TEST IN THE PRESENCE OF CROSS-SECTIONAL DEPENDENCE
Kaddour Hadri, Queen''s University Belfast
Co-Author: Eiji Kurozumi, Hitotsubashi University

  
  PANEL COINTEGRATION RANK TESTING WITH CROSS-SECTION DEPENDENCE
Josep Lluís Carrion-i-Silvestre, University of Barcelona
Co-Author: Laura Surdeanu, University of Barcelona

  
  PANEL ERROR CORRECTION TESTING WITH GLOBAL STOCHASTIC TRENDS
Jean-Pierre Urbain, Maastricht University
Co-Authors: Christian Gengenbach, and Joakim Westerlund, Lund University
  
15:30 - 17:30 FINANCIAL ECONOMETRICS 1 (ESEM EEE)
Chairperson: Bernhard Schipp, TU Dresden
Room
  A NONLINEAR THRESHOLD MODEL FOR THE DEPENDENCE OF EXTREMES OF STATIONARY SEQUENCES
Oscar Martinez, Universidad Rovira i Virgili
Co-Author: Jose Olmo, City University, London

  
  DETECTING SPURIOUS JUMPS IN HIGH FREQUENCY DATA
Pierre Bajgrowicz, HEC-University of Geneva
Co-Author: Olivier Scaillet, Geneva

  
  MODELING FINANCIAL CONTAGION USING MUTUALLY EXCITING PROCESSES
Roger Laeven, Tilburg University
Co-Authors: Yacine Aït-Sahalia, Princeton University and Julio Cacho-Diaz, Princeton University

  
  SELF-EXCITING EXTREME VALUE MODELS FOR STOCK MARKET CRASHES
Bernhard Schipp, TU Dresden
  
 
18:15 - 19:30 PLENARY SESSION ESEM
Fisher-Schultz Lecture:
Faruk Gul (Princeton University)

The Congress Programme is subject to last minute changes.

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