NEXT EVENTS
february, 2023
03feb13:0014:00ECO Seminar/Webinar - Bartosz Maćkowiak
Event Details
CEF.UP – ECO Seminar/Webinar Friday – February 3rd, 2023, at 1:00 p.m. |Room 305| Online "Gambling to Preserve Price (and Fiscal) Stability" Bartosz Maćkowiak - European Central Bank and CEPR (joint
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CEF.UP – ECO Seminar/Webinar
Friday – February 3rd, 2023, at 1:00 p.m. |Room 305| Online
“Gambling to Preserve Price (and Fiscal) Stability”
Bartosz Maćkowiak – European Central Bank and CEPR (joint work with Giancarlo Corsetti)
Abstract:
“We study a model in which policy aims at aggregate price stability. A fiscal imbalance materializes that, if uncorrected, must cause inflation, but the imbalance may get corrected in the future with some probability. By maintaining price stability in the near term, monetary policy can buy time for a correction to take place. The policy gamble may succeed, with price stability preserved indefinitely, or fail, leading to a delayed, possibly large jump in the price level. The resulting dynamics resemble the models of a currency crisis following Krugman (1979) and Obstfeld (1986). Like in Obstfeld’s work, multiple equilibria arise naturally: whether or not price stability is preserved may depend on private agents’ expectations. The model can be reinterpreted as a model of partial default on public debt, in which case it is reminiscent of Calvo (1988).”
Time
(Friday) 13:00 - 14:00
14feb18:3019:30MaR Seminar/Webinar - Sébastien Point
Event Details
CEF.UP – MaR Seminar/Webinar Tuesday – February 14th , 2023 6:30 p.m. - 7:30 p.m. | Room 305 | Online "Diversity and inclusion branding: a five-country comparison of corporate websites" Sébastien
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CEF.UP – MaR Seminar/Webinar
Tuesday – February 14th , 2023 6:30 p.m. – 7:30 p.m. | Room 305 | Online
“Diversity and inclusion branding: a five-country comparison of corporate websites”
Sébastien Point – EM Strasbourg Business School (joint work with Karsten Jonsen, Elisabeth K. Kelan and Adrian Grieble)
Abstract:
“In their quest to attract talent and appear as an employer of choice, organizations must articulate the benefits of having a diverse and inclusive workforce. By communicating the attractiveness of the workplace, a company increases its exposure to the environment as an employer of choice. Within the context of employer branding, we highlight two emerging concepts that encompass corporate communication in the form of diversity and inclusion statements: diversity branding and inclusion branding. We examine the websites of 75 major companies in five different countries (France, Germany, Spain, the UK and the US). The article highlights that organizations use diversity and inclusion branding to attract talent, become employers of choice and dimensionalize diversity to signal that specific dimensions of diversity are relevant to the organization. We show that diversity and inclusion branding has become ‘mainstream’ and how a focus on diversity is particularly useful to attract talent while to appear as an employer of choice a focus on inclusion seems particularly beneficial.”
Time
(Tuesday) 18:30 - 19:30
24feb13:0014:00ECO Seminar/Webinar - Joakim Gullstrand
Event Details
CEF.UP – ECO Seminar/Webinar Friday – February 24th, 2023, at 1:00 p.m. | Room 305| Online "The Spatial Dimension of Import Competition" Joakim Gullstrand - Lund University (joint work with Polina
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CEF.UP – ECO Seminar/Webinar
Friday – February 24th, 2023, at 1:00 p.m. | Room 305| Online
“The Spatial Dimension of Import Competition”
Joakim Gullstrand – Lund University (joint work with Polina Knutsson)
Abstract:
“Exposure to international competition on a country level has been shown to improve the efficiency of domestic producers. We contribute to this literature by studying whether the distance between producers and importers within a country matters for import competition effects at the product level. Using highly detailed geographical information about the location of Swedish manufacturing firms over 2005–2014, we find robust evidence of an increased efficiency in the domestic production when imports rise, but that the effect declines with the distance between the producer and the importer. In addition to the importance of the geographical pattern within a country, we find that the average effect of import competition conceals large variations across firms and products. Highly productive firms respond to import competition by further improving efficiency, which, in turn, translates into both a lower price and a higher markup. Firms are also more likely to drop fringe products while keeping core ones. Products undercut by low import prices within their close proximity respond by lowering prices only, although highly efficient products resist this by a more pronounced improvement in the marginal cost, which, in turn, translates into both a lower price and a higher markup.”
Time
(Friday) 13:00 - 14:00
28feb18:3019:30MaR Seminar/Webinar - Dušan Kučera
Event Details
CEF.UP – MaR Seminar/Webinar Tuesday – February 28th , 2023 6:30 p.m. - 7:30 p.m. | Room 305 | Online "Challenges of managerial responsibility and ethics for Central and East European
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CEF.UP – MaR Seminar/Webinar
Tuesday – February 28th , 2023 6:30 p.m. – 7:30 p.m. | Room 305 | Online
Dušan Kučera – Prague University of Economics and Business
Abstract:
“The study aims to identify the typical key factors of ethical thinking and behaviour in Central and East European (CEE) countries, and regard them from the experience of privatization and transformation process in the Czech Republic. The background of ethical scandals and dilemmas of CEE countries reflects their roots in socialist education and state-planned economy, which are based on Marxism, which had and has serious consequences. The study describes the main philosophical reasons affecting the managerial limits in the ethical context of business and management behaviour after the transformation period with the apparent challenges in management thinking and executive education for today. The following description and interpretation of the fundamental implications of the presented analysis for managerial responsibility and ethics are discussed with the relevant professional literature that illuminates the personal, social and economic long-term consequences. Cross-country comparisons reflect developments in the European Union, the Amnesty International Corruption Index and other specific influences according to regional sources. Resulting challenges relate to challenges of business and management philosophy in business schools. The conclusion shows the space for the following professional discussion with European partners and PRME signatories regarding the ethical challenges for executive education and sustainability management in CEE. Recent academic publications show that managerial responsibility and ethical behaviour are increasingly in the focus of interest of both academics and company management.”
Time
(Tuesday) 18:30 - 19:30
PAST EVENTS
january 2023
27jan13:0014:00ECO Seminar/Webinar - Ilan Noy
Event Details
CEF.UP – ECO Seminar/Webinar Friday – January 27th, 2023, at 1:00 p.m. | Room 305| Online "The Japanese Textile Sector and the Influenza Pandemic of 1918-1920" Ilan Noy - Victoria University
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CEF.UP – ECO Seminar/Webinar
Friday – January 27th, 2023, at 1:00 p.m. | Room 305| Online
“The Japanese Textile Sector and the Influenza Pandemic of 1918-1920”
Ilan Noy – Victoria University of Wellington (joint work with Toshihiro Okubo and Eric Ströbl)
Abstract:
“The ongoing global pandemic has brought into sharp relief the possible interactions between the epidemiology of a virus, the structure of the economy and society that becomes exposed to it, and the actions chosen by government, individuals, and communities to combat it or ameliorate its economic impact. Surprisingly, there has not been sufficient research on these economic and policy interactions of the 1918-1920 influenza pandemic – the deadliest pandemic of the 20th century. The focus of much of the research has been on the pandemic’s mortality and other demographic impacts. This paper focuses on Japan, which as a minor participant, was not directly affected by World War I. We exploit the diversity of experiences with the pandemic and its attendant policy responses across Japanese prefectures; and investigate the importance of the pandemic’s toll (measured by excess mortality), and of non-pharmaceutical policy interventions (NPIs), in determining the pandemic’s economic impact. We do so by focusing on the production and employment in the textile sector, given the availability of data and the general importance of the textile sector for emerging economies (as Japan was at the time). We investigate the role of NPIs in ameliorating the economic costs for the sector during the pandemic years (1918-1920), and indeed find that the implemented NPIs were effective in ameliorating the pandemic’s economic consequences, rather than worsening them. In this case, there was no trade-off between money and life, but rather the two were complimentary.”
Time
(Friday) 13:00 - 14:00
december 2022
15dec13:0014:00ECO Seminar/Webinar - Giovanni Ricco
Event Details
CEF.UP – ECO Seminar/Webinar Thursday – December 15th, 2022, at 1:00 p.m. |Room 305| Online "The Global Transmission of U.S. Monetary Policy" Giovanni Ricco - University of Warwick Abstract: "The US monetary
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CEF.UP – ECO Seminar/Webinar
Thursday – December 15th, 2022, at 1:00 p.m. |Room 305| Online
“The Global Transmission of U.S. Monetary Policy”
Giovanni Ricco – University of Warwick
Abstract:
“The US monetary policy propagates internationally by affecting external demand and due to the role of the dollar as the world’s dominant currency in financial markets, trade invoicing, and foreign exchange reserves. We quantify spillover effects by employing a state-of-the-art high-frequency identification and big data techniques, in conjunction with a harmonised dataset covering 30 economies and over 150,000 data-points. We report three novel stylised facts. First, a US monetary policy tightening has large and qualitatively homogeneous real and nominal contractionary spillovers onto both advanced and emerging economies. Second, flexible exchange rates cannot fully insulate domestic economies. Movements in risk premia limit central banks’ ability to control the yield curve, even in advanced economies. Third, financial channels dominate over demand and exchange rate channels in the transmission to real variables, while the transmission via oil and commodity prices determines nominal spillovers. The latter is an important novel channel not previously reported in the literature. ”
Time
(Thursday) 13:00 - 14:00
13dec13:0014:00ECO Seminar/Webinar - Diogo Geraldes
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – December 13th, 2022, at 1:00 p.m. |Room 305| Online "An Experiment on Gender Representation in Majoritarian Bargaining" Diogo Geraldes - University College Dublin - School
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CEF.UP – ECO Seminar/Webinar
Tuesday – December 13th, 2022, at 1:00 p.m. |Room 305| Online
“An Experiment on Gender Representation in Majoritarian Bargaining”
Diogo Geraldes – University College Dublin – School of Economics
Abstract:
“Women are underrepresented in political and business decision-making bodies across the world. To investigate the causal effect of gender representation on multilateral negotiations, we experimentally manipulate the composition of triads in a majoritarian, divide-the-dollar game. First, we find that inclusive splits and unanimous agreement rates are highest in all-female groups and lowest in all-male groups suggesting that female representation increases fairness. Second, we document a robust gender gap in earnings, driven largely by the exclusion of women from coalitions rather than differential shares within coalitions. Experiments with different subject pools show that distinct bargaining dynamics can underlie the same inequitable outcomes: While gender-biased outcomes are sometimes caused by outright discrimination, they can also be driven by more complex dynamics related to gender differences in bargaining strategies. These different dynamics manifest in mixed-gender coalitions being less stable when the excluded party is male rather than female. Men are more likely to make opening offers and enjoy a payoff advantage for doing so, but women suffer backlash for proposing first.”
Brief Bio
Diogo Geraldes is a Senior Assistant Professor at the University College Dublin – School of Economics since August 2022. Diogo’s main research interests lie in the fields of Behavioral Economics, Experimental Economics, and Game Theory. Before arriving in beautiful Dublin, Diogo’s academic path navigated through Lisboa (Nova University), Barcelona (Pompeu Fabra University), New York (Columbia University), Maastricht University, and Utrecht University.
Additionally, Diogo is a Research Fellow of the Geary Institute for Public Policy and a Member of the UCD Behavioral Science & Policy Group. And also a Researcher at the Science of Diversity & Inclusion Initiative (University of Chicago).
Time
(Tuesday) 13:00 - 14:00
06dec13:0014:00WiP Seminar/Webinar - José Jorge
Event Details
CEF.UP – WiP Seminar/Webinar Tuesday – December 6th, 2022 at 1:00 p.m. | Room 305 | Online “Firm Investment and Liquidity: Evidence from a Natural Disaster” José Jorge – FEP and Cef.up
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CEF.UP – WiP Seminar/Webinar
Tuesday – December 6th, 2022 at 1:00 p.m. | Room 305 | Online
“Firm Investment and Liquidity: Evidence from a Natural Disaster”
José Jorge – FEP and Cef.up (joint work with Sujiao Zhao)
Abstract:
“Natural disasters dramatically affect firms, but they also provide for an opportunity to start anew. We exploit information on the 15-16 October 2017 Portuguese wildfires and the ensuing official assistance that subsidized 85% of the losses, applying a differences-in-differences approach. Firms affected by the wildfires increase output and fixed assets, with employment and productivity remaining stable. Their book value of fixed assets increases substantially more than their economic value. Affected firms activate their existing credit lines, borrow long term credit, and increase cash holdings. The evidence is consistent with the theory that firms invest both in scale and in liquidity.”
Time
(Tuesday) 13:00 - 14:00
november 2022
29nov13:0014:00ECO Seminar/Webinar - Nikolay Iskrev
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – November 29th, 2022, at 1:00 p.m. |Room 305| Online "Spectral decomposition of the information about latent variables in dynamic macroeconomic models" Nikolay Iskrev - Banco de
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CEF.UP – ECO Seminar/Webinar
Tuesday – November 29th, 2022, at 1:00 p.m. |Room 305| Online
“Spectral decomposition of the information about latent variables in dynamic macroeconomic models”
Nikolay Iskrev – Banco de Portugal
Abstract:
“In this paper, I show how to perform spectral decomposition of the information about latent variables in dynamic economic models. A model describes the joint probability distribution of a set of observed and latent variables. The amount of information transferred from the former to the latter is measured by the reduction of uncertainty in the posterior compared to the prior distribution of any given latent variable. Casting the analysis in the frequency domain allows decomposing the total amount of information in terms of frequency-specific contributions as well as in terms of information contributed by individual observed variables. I illustrate the usefulness of the proposed methodology with applications to two DSGE models taken from the literature.”
Time
(Tuesday) 13:00 - 14:00
22nov13:0014:00WiP Seminar/Webinar - Luís Guimarães
Event Details
CEF.UP – WiP Seminar/Webinar Tuesday – November 22nd, 2022 at 1:00 p.m. | Room 305 | Online “Universal Basic Income: The Worst Bar All Others?” Luís Guimarães – Cef.up (joint work with
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CEF.UP – WiP Seminar/Webinar
Tuesday – November 22nd, 2022 at 1:00 p.m. | Room 305 | Online
“Universal Basic Income: The Worst Bar All Others?”
Luís Guimarães – Cef.up (joint work with Diogo Lourenço)
Abstract:
“Extant welfare programmes introduce unintended distortions and suffer from low take-up, transfers to ineligible recipients, and administrative costs. A noteworthy alternative, arguably immune to these imperfections, is a Universal Basic Income (UBI), i.e., an unconditional transfer to all citizens. Yet, UBI is a blunt instrument that does not discriminate rich from poor and is useless for incentivizing work or further education. The welfare and other macroeconomic impacts of replacing means-tested welfare programmes with a UBI are therefore far from obvious. To elucidate them, we build a dynamic general-equilibrium model with incomplete markets and heterogeneous agents. We find that replacing a suite of means-tested US programmes with an expenditure neutral UBI would increase the stock of capital, employment, and output, but lower welfare. Further experiments, however, also indicate that if the magnitude of current transfers increased substantially, an expenditure neutral UBI would be welfare-improving.”
Time
(Tuesday) 13:00 - 14:00
17nov13:0014:00FIN Seminar/ Webinar - Nicolas Serrano-Velarde
Event Details
CEF.UP – FIN Seminar/Webinar Thursday – November 17th, 2022 at 1:00 p.m. |Room 305| Online "Committing to Grow: Privatizations and Firm Dynamics in East Germany" Nicolas Serrano-Velarde - Bocconi University (joint work
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CEF.UP – FIN Seminar/Webinar
Thursday – November 17th, 2022 at 1:00 p.m. |Room 305| Online
“Committing to Grow: Privatizations and Firm Dynamics in East Germany”
Nicolas Serrano-Velarde – Bocconi University (joint work U. Akcigit, H. Alp and A. Diegmann)
Abstract:
“We study the implications of employment targets on firm dynamics during the privatization of the East German economy. Exploiting novel contract-level data, we document three stylized facts. First, the policy distorted firm size choices and generated bunching of firms around their committed employment target. Second, exploiting heterogeneous labor preferences of privatizers, we show that assigning tight commitments to firms causes an increase in employment growth and leads to higher productivity growth. Finally, tighter commitments also result in significant costs by leading to increased firm exit. We interpret these results through the lens of a dynamic model with endogenous productivity growth at the firm level. The model highlights that while tight commitments distort the employment decision statically and lead to a higher exit probability, they also induce a “catch-up” increase in productivity growth. This is because although firm profits are lower under tight commitments, marginal profits with respect to productivity are higher. We calibrate the model to our data and find that the policy lead to a 3 percentage points higher aggregate TFP growth thanks to the productivity improvements of firms with tight contracts.”
Time
(Thursday) 13:00 - 14:00
october 2022
25oct13:0014:00ECO Seminar/Webinar - Francisco Queirós
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – October 25th, 2022, at 1:00 p.m. |Room 305| Online "Firm Heterogeneity, Market Power and Macroeconomic Fragility" Francisco Queirós - Università Federico II Abstract: "We study how
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CEF.UP – ECO Seminar/Webinar
Tuesday – October 25th, 2022, at 1:00 p.m. |Room 305| Online
“Firm Heterogeneity, Market Power and Macroeconomic Fragility”
Francisco Queirós – Università Federico II
Abstract:
“We study how firm heterogeneity and market power affect macroeconomic fragility, defined as the probability of long-lasting recessions. We propose a theory in which the positive interaction between firm entry, competition and factor supply can give rise to multiple steady-states. We show that when firm heterogeneity is large, even small temporary shocks can trigger firm exit and make the economy spiral in a competition-driven poverty trap. Calibrating our model to incorporate the well-documented trends in increasing firm heterogeneity in the US economy, we find that, relative to 2007, an economy with the 1990 level of firm heterogeneity is 1.5 to 2 times less likely to experience a deep recession.We use our framework to study the 2008–09 recession and show that the model can rationalize the persistent deviation of output and most macroeconomic aggregates from trend, including the behavior of net entry, markups and the labor share. Post-crisis cross-industry data corroborates our proposed mechanism. We conclude by showing that firm subsidies can be powerful in preventing quasi-permanent recessions and can lead to up to a 21% increase in welfare.”
Time
(Tuesday) 13:00 - 14:00
13oct13:0014:00FIN Seminar/ Webinar - Farooq Ahmad
Event Details
CEF.UP – FIN Seminar/Webinar Thursday – October 13th, 2022 at 1:00 p.m. |Room 305| Online "The Innovation Arms’ Race" - access the paper here Farooq Ahmad - SKEMA Business School (joint work
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CEF.UP – FIN Seminar/Webinar
Thursday – October 13th, 2022 at 1:00 p.m. |Room 305| Online
“The Innovation Arms’ Race” – access the paper here
Farooq Ahmad – SKEMA Business School (joint work with Eric de Bodt and Jarrad Harford)
Abstract:
“Economists have long recognized that competition and innovation interact as key drivers of economic growth (Schumpeter, 1943; Arrow, 1962; Aghion and Howitt, 1992). Acknowledging this, regulators carefully scrutinize competitive behaviors that potentially affect innovation incentives, in particular in the field of M&A (Shapiro, 2012). Do acquisitions of innovative targets spur or stifle innovation? To address this question, we test the Innovation Arms Race hypothesis, providing a first large scale empirical investigation of M&A effects on acquirer rivals’ incentives to innovate and the equilibrium outcome resulting from this competitive process. Our results are consistent with the Innovation Arms Race hypothesis predictions: acquisitions of innovative targets push acquirer rivals to invest more in innovation, both internally through research and development (R&D) and externally through acquisition of innovative targets (the correlated investment prediction) and this increase in innovation investment under pressure of rivals leads to a decrease in firm market valuation (the value decrease prediction). These results are robust to endogeneity and are driven by High-Technology and (to some extent) Healthcare industries. This arms race process appears stronger for leaders and (to some extent) firms under strong competitive pressure (so-called neck-and-neck firms). Initial patents and patent citations based evidence shows no sign of innovation investment efficiency decline, suggesting that the Innovation Arms Race generates a transfer of economic rent favorable to consumers.”
Time
(Thursday) 13:00 - 14:00
11oct13:0014:00ECO Seminar/Webinar - Astrid Kander
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – October 11th, 2022, at 1:00 p.m. |Room 305| Online "The current energy crisis in historical perspective" Astrid Kander - Lund University Abstract: "The energy crisis of 2022
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CEF.UP – ECO Seminar/Webinar
Tuesday – October 11th, 2022, at 1:00 p.m. |Room 305| Online
“The current energy crisis in historical perspective”
Astrid Kander – Lund University
Abstract:
“The energy crisis of 2022 has several similarities to the oil crises of the 1970s, but there are also differences. This paper takes a very long perspective on the situation where EU tries to free itself from fossil fuels to save the climate, and at the same time urgently stand united in the energy war that Putin has inflicted on especially Germany, but indirectly all of EU, by stopping the gas deliveries via Nord stream 1. We will discuss historical and contemporary limitations of areal energy resources, as well as the inflation and interest increases, which will possibly lead to stagflation (like in the 1970s), and the impact on energy markets as well as stock exchange markets. Last we will briefly touch upon whether this energy crisis will make move EU faster in achieving its climate ambitions or the contrary.”
Time
(Tuesday) 13:00 - 14:00
september 2022
27sep13:0014:00ECO Seminar/Webinar - Julian Neira
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – September 27th, 2022, at 1:00 p.m. |Room 305| Online "Firm Dynamics and Sectoral Reallocation with Hugo Hopenhayn and Rish Singhania" Julian Neira - University of
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CEF.UP – ECO Seminar/Webinar
Tuesday – September 27th, 2022, at 1:00 p.m. |Room 305| Online
“Firm Dynamics and Sectoral Reallocation with Hugo Hopenhayn and Rish Singhania”
Julian Neira – University of Exeter, UK
Abstract:
This paper presents a tractable framework to jointly study patterns of sectoral reallocation and firm dynamics. The framework features input-output linkages across sectors, heterogeneous rates of firm creation and destruction, and common factor markets. We characterize the existence and uniqueness of the equilibrium. We present applications to sectoral reallocations in US data.
Time
(Tuesday) 13:00 - 14:00
16sep13:0014:00ECO Seminar/Webinar - Guillaume Chapelle
Event Details
CEF.UP – ECO Seminar/Webinar Friday – September 16th, 2022, at 1:00 p.m. |Room 305| Online "Public housing development and segregation: SRU law in France" Guillaume Chapelle - THEMA, CY Cergy Paris
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CEF.UP – ECO Seminar/Webinar
Friday – September 16th, 2022, at 1:00 p.m. |Room 305| Online
“Public housing development and segregation: SRU law in France”
Guillaume Chapelle – THEMA, CY Cergy Paris Université, France
Abstract:
We study the effects of the SRU law introduced in France in December 2000 to support scattered development of public housing in cities and favor social mixity. This law imposes 20% of public housing to all medium and large municipalities of large-enough cities, with fees for those not abiding by the law. Using exhaustive fiscal data, we evaluate the effects of the law over the 1996-2008 period using a difference-in-differences approach at the municipality level. We find that the law stimulated public housing construction in treated municipalities with a low proportion of public dwellings. Within these municipalities, it decreased public housing segregation but it did not decrease much low-income segregation. We investigate their intra-municipal dynamics by running block-level regressions that include municipality fixed effects. Within these treated municipalities, the concentration of public dwellings increased to a larger extent in blocks with below-average income and below-average concentration of public dwellings.
Time
(Friday) 13:00 - 14:00
july 2022
12jul13:0014:00ECO Seminar/Webinar - José de Sousa
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – July 12th, 2022, at 1:00 p.m. |Room 305| Online "Social Distancing and Risk Taking: Evidence from a Team Game Show" José de Sousa - Université Paris-Saclay
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CEF.UP – ECO Seminar/Webinar
Tuesday – July 12th, 2022, at 1:00 p.m. |Room 305| Online
“Social Distancing and Risk Taking: Evidence from a Team Game Show”
José de Sousa – Université Paris-Saclay (joint work with Jean-Marc Bourgeon and Alexis Noir-Luhalwe)
Abstract:
“We examine the risky choices of pairs of contestants in a popular radio game show in France. At the onset of the Covid-19 pandemic, the show, traditionally held in person, had to switch to all remote. We find that this exogenous change in social context affects risk-taking behavior. Remotely, pairs take far fewer risks when the stakes are high than in the flesh. This behavioral difference is consistent with prosocial behavior theories, which argue that the nature of social interactions influences risky choices. Our results suggest that working from home may reduce participation in profitable but risky team projects.”
Time
(Tuesday) 13:00 - 14:00
june 2022
09jun18:3019:30MaR Seminar/Webinar - José Ramón Saura
Event Details
CEF.UP – MaR Seminar/Webinar Thursday – June 9th , 2022 6:30 p.m. - 7:30 p.m. | Room 305 | Online "User-Generated Content and Social Media Marketing: Exploring data mining techniques" José Ramón
Event Details
CEF.UP – MaR Seminar/Webinar
Thursday – June 9th , 2022 6:30 p.m. – 7:30 p.m. | Room 305 | Online
“User-Generated Content and Social Media Marketing: Exploring data mining techniques”
José Ramón Saura – Univ. Rey Juan Carlos, Spain
Area: Research methods / process
Notice: To all who will attend, please take your laptop with you.
Time
(Thursday) 18:30 - 19:30
09jun13:0014:00FIN Seminar/ Webinar - Günter Strobl
Event Details
CEF.UP – FIN Seminar/Webinar Thursday – June 9th, 2022 at 1:00 p.m. |Room 305| Online "Lying to Speak the Truth: Selective Manipulation and Improved Information Transmission" Günter Strobl - University of
Event Details
CEF.UP – FIN Seminar/Webinar
Thursday – June 9th, 2022 at 1:00 p.m. |Room 305| Online
“Lying to Speak the Truth: Selective Manipulation and Improved Information Transmission“
Günter Strobl – University of Vienna (joint work with Paul Povel)
Time
(Thursday) 13:00 - 14:00
07jun18:3019:30MaR Seminar/Webinar - José Ramón Saura
Event Details
CEF.UP – MaR Seminar/Webinar Tuesday – June 7th , 2022 6:30 p.m. - 7:30 p.m. | Room 305 | Online "Exploring the boundaries of open innovation: Evidence from social media mining"
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CEF.UP – MaR Seminar/Webinar
Tuesday – June 7th , 2022 6:30 p.m. – 7:30 p.m. | Room 305 | Online
“Exploring the boundaries of open innovation: Evidence from social media mining”
José Ramón Saura – Univ. Rey Juan Carlos, Spain (joint work with Daniel Palacios-Marqués and Domingo Ribeiro-Soriano)
Area: Mkt & Strat
Time
(Tuesday) 18:30 - 19:30
may 2022
31may18:3019:30MaR Seminar/Webinar - Hanno Roberts
Event Details
CEF.UP – MaR Seminar/Webinar Tuesday – May 31st , 2022 6:30 p.m. - 7:30 p.m. | Room 305 | Online "Creativity, Control and Communication in New Product Development" Hanno Roberts - Norwegian
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CEF.UP – MaR Seminar/Webinar
Tuesday – May 31st , 2022 6:30 p.m. – 7:30 p.m. | Room 305 | Online
“Creativity, Control and Communication in New Product Development”
Hanno Roberts – Norwegian BS, Norway (joint work with Emilia Skowrońska and João Oliveira)
Abstract:
“This paper focuses on New Product Development processes as these are both ‘creativity intensive’ as well as ‘control requisite’ areas within an organization. We explore how communication as a control practice orients and affects creativity in New Product Development processes, within a creativity-centered service & product design company based in Portugal. The paper untangles the communication processes and tools used, including their effects upon their creative (design) processes.
We identify a number of communication tools deployed in different stages of the product development process. Firstly, highly visual communication tools (e.g., maps and boards), had a positive effect not only upon creativity itself, but also upon the project self-organization of the designers. Secondly, meetings performed a crucial role in terms of communication interlinkage, with an immediately visible influence on employee creativity. Thirdly, the company, implicitly and unconsciously, started building its own version of an Interactive Control System (ICS) (Simons, 1994), supporting multiple organizational learning activities and leading up to the development of traits of a learning organization.
The paper contributes to the literature on Management Control in creative industries, by examining how communication underpins and is intertwined with management control, and supporting the view that the creativity-control tension described in the literature is, in fact, a false dichotomy. The paper reveals how multiple communication tools enable creativity and control to successfully co-exist. Together, creativity and control address the articulation of this company’s key resource (its creative employees) and, subsequently, transpose that articulation into an efficient deployment.”
Area: Acc & MC
Time
(Tuesday) 18:30 - 19:30
24may18:3019:30MaR Seminar/Webinar - Giovanna Michelon
Event Details
CEF.UP – MaR Seminar/Webinar Tuesday – May 24th , 2022 6:30 p.m. - 7:30 p.m. | Room 631 | Online "Internalizing Externalities: Disclosure Regulation for Hydraulic Fracturing, Drilling Activity and Water Quality"
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CEF.UP – MaR Seminar/Webinar
Tuesday – May 24th , 2022 6:30 p.m. – 7:30 p.m. | Room 631 | Online
“Internalizing Externalities: Disclosure Regulation for Hydraulic Fracturing, Drilling Activity and Water Quality”
Giovanna Michelon – Bristol University, UK (joint work with Pietro Bonetti and Christian Leuz)
Abstract:
“The rise of shale gas and tight oil development has triggered a major debate about hydraulic fracturing (HF). In an effort to mitigate risks from HF in unconventional development, many U.S. states have introduced disclosure mandates for HF fluids. In this paper, we study the effects of this important regulatory initiative on HF activity and its environmental impact. We find significant improvements in water quality, examining salts that are considered signatures for HF impact, after the disclosure mandates are introduced. We document effects along the extensive margin (less HF activity) and the intensive margin (less per-HF well impact). Most of the improvement comes from the intensive margin. Supporting this interpretation, we find that, after the introduction of disclosure, operators pollute less per unit of production, use fewer toxic chemicals, and that there are fewer spills related to the handling of HF fluids and wastewater. We also explore possible mechanisms through which disclosure regulation can be effective and find that public pressure likely plays an important role. Taken together, our empirical assessment of a major regulatory initiative for HF provides novel evidence on how disclosure mandates can help to internalize negative and fairly widespread external effects.”
Area: Acc & MC
Time
(Tuesday) 18:30 - 19:30
24may13:0014:00WiP Webinar - Fernando Oliveira
Event Details
CEF.UP – WiP Webinar Tuesday – May 24th, 2022 at 1:00 p.m. | Online “Pope Francis’ Economics of Fraternity: A Co-Evolutionary Analysis” Fernando Oliveira – Cef.up and University of Auckland Abstract: "Pope Francis has
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CEF.UP – WiP Webinar
Tuesday – May 24th, 2022 at 1:00 p.m. | Online
“Pope Francis’ Economics of Fraternity: A Co-Evolutionary Analysis”
Fernando Oliveira – Cef.up and University of Auckland
Abstract:
“Pope Francis has criticized the economy of exclusion created by capitalism. Based on a stylized pie-sharing game, the article proposes a co-evolutionary network model, using reinforcement learning, to analyze the interaction between social classes. This article aims to answer the following questions: Why do socioeconomic classes exist? When do they increase social efficiency and individual effectiveness? What is the role of social exclusion? From a methodological perspective, the model extends the pie-sharing game to include a network of interactions and classes, social mobility, and evolving wealth. The results show that flatter societies tend to lead to higher average individual effectiveness, however social inequality emerges even in round-table societies. In flatter societies inequality decreases to the levels observed, at equilibrium, in round-table societies. In vertical societies wealth inequality persists. Furthermore, the analysis extends the network model to include the possibility of individuals changing social class (i.e., to consider social mobility), studying how it affects individual effectiveness: it increases the perceived wealth differences between classes and, in the long run, supports the status quo. Finally, the article studies societies in which social mobility seldom occurs between the upper and lower classes are a Nash equilibrium, even in the long-term. This analysis is illustrated using the process of wealth accumulation and social exclusion in New Zealand.”
Time
(Tuesday) 13:00 - 14:00
19may18:3019:30MaR Webinar - Hugh Scullion
Event Details
CEF.UP – MaR Webinar Thursday – May 19th , 2022 6:30 p.m. - 7:30 p.m. | Online "How to Get Published and Ensure Your Paper Achieves the Impact it Deserves?" Hugh
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CEF.UP – MaR Webinar
Thursday – May 19th , 2022 6:30 p.m. – 7:30 p.m. | Online
“How to Get Published and Ensure Your Paper Achieves the Impact it Deserves?“
Hugh Scullion – University of Hull, UK
Area: Research methods / process
Time
(Thursday) 18:30 - 19:30
19may13:0014:00FIN Seminar/ Webinar - Vladimir Vladimirov
Event Details
CEF.UP – FIN Seminar/Webinar Thursday – May 19th, 2022 at 1:00 p.m. |Room 305| Online "Negotiating Compensation" Vladimir Vladimirov - University of Amsterdam (joint work with Florian Hoffmann) Abstract: "Workers can often negotiate
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CEF.UP – FIN Seminar/Webinar
Thursday – May 19th, 2022 at 1:00 p.m. |Room 305| Online
Vladimir Vladimirov – University of Amsterdam (joint work with Florian Hoffmann)
Abstract:
“Workers can often negotiate their compensation. We develop a model showing that optimal negotiations and compensation design depend on whether capital and labor are substitutes or complements. This distinction — closely related to whether labor is low- or high-skilled — further affects whether workers can extract higher compensation by negotiating with fewer firms or by searching for additional job offers. It also affects whether cash constraints inflate or depress compensation when firms compete for workers. By solving for the optimal mechanism for workers to sell their labor, we further show how workers can compare different types of offers and negotiate with firms with different bargaining power.”
Time
(Thursday) 13:00 - 14:00
17may18:3019:30MaR Webinar - Hugh Scullion
Event Details
CEF.UP – MaR Webinar Tuesday – May 17th , 2022 6:30 p.m. - 7:30 p.m. |Online "Talent management in the public sector: empirical evidence from the Emerging Economy of Dubai" Hugh
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CEF.UP – MaR Webinar
Tuesday – May 17th , 2022 6:30 p.m. – 7:30 p.m. |Online
“Talent management in the public sector: empirical evidence from the Emerging Economy of Dubai“
Hugh Scullion – University of Hull, UK (joint work with Hessa Al Jawali, Tamer K. Darwish, and Washika Haak-Saheem)
Area: Org & HR
Time
(Tuesday) 18:30 - 19:30
12may18:3019:30MaR Seminar/Webinar - Justin Paul
Event Details
CEF.UP – MaR Seminar/Webinar Thursday – May 12th , 2022 6:30 p.m. - 7:30 p.m. | Room 631 | Online "Art of writing different types of literature reviews" Justin Paul -
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CEF.UP – MaR Seminar/Webinar
Thursday – May 12th , 2022 6:30 p.m. – 7:30 p.m. | Room 631 | Online
“Art of writing different types of literature reviews”
Justin Paul – Editor-in-Chief, International Journal of Consumer Studies (University of Puerto Rico, USA & University of Reading, UK)
Area: Research methods / process
Time
(Thursday) 18:30 - 19:30
05may13:0014:00FIN Seminar/ Webinar - Gonçalo Faria
Event Details
CEF.UP – FIN Seminar/Webinar Thursday – May 5th, 2022 at 1:00 p.m. |Room 305| Online "The Correlation Risk Premium Term Structure " Gonçalo Faria - Universidade Católica Portuguesa (joint work with Robert
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CEF.UP – FIN Seminar/Webinar
Thursday – May 5th, 2022 at 1:00 p.m. |Room 305| Online
“The Correlation Risk Premium Term Structure “
Gonçalo Faria – Universidade Católica Portuguesa (joint work with Robert Kosowski)
Abstract:
“The aim of this paper is to study the term structure of correlation risk and exploit a unique dataset of correlation swap quotes. The main empirical findings are supported by a general equilibrium asset pricing model that endogenously generates a correlation risk term structure. We analyse two alternative measures of correlation risk and their term structure, based on S&P500 correlation swap quotes and the synthetic correlation swap rates estimated from option prices. Our main empirical findings are supported by a Lucas Orchard type model with heterogeneous agents that differ in their beliefs about the probability of a systemic rare disaster. When the latter occurs, there is an increase in the dispersion in beliefs about expected consumption growth rate and in the consumption share of the more pessimistic agent. This generates a flattening of the term structure for both the risk neutral expected correlation and the correlation risk premium during periods of enhanced uncertainty.”
Time
(Thursday) 13:00 - 14:00
03may18:3019:30MaR Seminar/Webinar - Panos Pardalos
Event Details
CEF.UP – MaR Seminar/Webinar Tuesday – May 3rd , 2022 6:30 p.m. - 7:30 p.m. | Room 305 | Online "Artificial Intelligence, Data Sciences, and Optimization in Economics and Finance. Neural network
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CEF.UP – MaR Seminar/Webinar
Tuesday – May 3rd , 2022 6:30 p.m. – 7:30 p.m. | Room 305 | Online
Panos Pardalos – University of Florida, USA (joint work with George Adosoglou and Gianfranco Lombardo)
Area: Op & Log
Time
(Tuesday) 18:30 - 19:30
april 2022
26apr13:0014:00ECO Webinar - Tatiana Kirsanova
Event Details
CEF.UP – ECO Webinar Tuesday – April 26th, 2022 1:00 p.m. | Online “Tight and Loose, and Red and Blue: A ‘Dance’ of Macro Policies in the US” Tatiana Kirsanova – Adam
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CEF.UP – ECO Webinar
Tuesday – April 26th, 2022 1:00 p.m. | Online
“Tight and Loose, and Red and Blue: A ‘Dance’ of Macro Policies in the US”
Tatiana Kirsanova – Adam Smith Business School (joint work with Celsa Machado and Ana Paula Ribeiro)
Abstract:
“Using an optimising policy framework, we build and estimate a small-scale DSGE model of the US, and present a narrative of monetary and fiscal policy interactions in 1955-2020. We find that fiscal policy is important to identify shifts in monetary policy preferences, and it is shaped by the political color.
We use this model to analyse the episode of zero lower bound on interest rate in 2008-15. We find that the bound constrained monetary policy, explain some observed irregularities in macroeconomic data, and demonstrate that a change to price level targeting could have generated a strong lift-off from the constraint.”
Time
(Tuesday) 13:00 - 14:00
12apr13:0014:00ECO Seminar/Webinar - Francisco Silva
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – April 12th, 2022 1:00 p.m. | Room 305 |Online "Assignment mechanisms with public preferences and independent types" Francisco Silva- Pontificia Universidad Catolica de Chile
Event Details
CEF.UP – ECO Seminar/Webinar
Tuesday – April 12th, 2022 1:00 p.m. | Room 305 |Online
“Assignment mechanisms with public preferences and independent types“
Francisco Silva– Pontificia Universidad Catolica de Chile
Time
(Tuesday) 13:00 - 14:00
05apr13:0014:00ECO Seminar/Webinar - Fernando Bruna
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – April 5th, 2022, at 1:00 p.m. |Room 305| Online "European regional agglomeration: Central Place Theory, New Economic Geography and other geographic perspectives" Fernando Bruna -
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Event Details
CEF.UP – ECO Seminar/Webinar
Tuesday – April 5th, 2022, at 1:00 p.m. |Room 305| Online
Fernando Bruna – Universidade da Coruña
Time
(Tuesday) 13:00 - 14:00
march 2022
31mar13:0014:00FIN Seminar/ Webinar - Marcus Opp
Event Details
CEF.UP – FIN Seminar/Webinar Thursday – March 31st, 2022 at 1:00 p.m. |Room 305| Online "Green Capital Requirements" Marcus Opp - Stockholm School of Economics (joint work with Martin Oehmke)
Event Details
CEF.UP – FIN Seminar/Webinar
Thursday – March 31st, 2022 at 1:00 p.m. |Room 305| Online
Marcus Opp – Stockholm School of Economics (joint work with Martin Oehmke)
Time
(Thursday) 13:00 - 14:00
29mar18:3019:30MaR Seminar/Webinar - Poul Houman Andersen
Event Details
CEF.UP – MaR Seminar/Webinar Tuesday – March 29th, 2022 6:30 p.m. - 7:30 p.m. | Room 305 | Online "Using a ‘lens’ to re-search business markets, relationships and networks: Tensions, challenges
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CEF.UP – MaR Seminar/Webinar
Tuesday – March 29th, 2022 6:30 p.m. – 7:30 p.m. | Room 305 | Online
Poul Houman Andersen – Aalborg University Business School, Denmark (joint work with Ilkka Ojansivu , Christopher John Medlin and Woonho Kim)
Area: Mkt & Strat
Time
(Tuesday) 18:30 - 19:30
february 2022
25feb13:0014:00ECO Seminar/Webinar - Ilan Noy
Event Details
CEF.UP – ECO Seminar/Webinar Friday – February 25th, 2022 1:00 p.m. | Room 305 |Online "Social Inequalities in Climate Change-Attributed Impacts of Hurricane Harvey" Ilan Noy - Victoria University of Wellington Abstract Climate
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CEF.UP – ECO Seminar/Webinar
Friday – February 25th, 2022 1:00 p.m. | Room 305 |Online
“Social Inequalities in Climate Change-Attributed Impacts of Hurricane Harvey”
Ilan Noy – Victoria University of Wellington
Abstract
Climate change is already increasing the severity of extreme weather events such as with rainfall during hurricanes. But no research to date investigates if, and to what extent, there are social inequalities in climate change-attributed extreme weather event impacts. Here, we use climate change attribution science paired with hydrological flood models to estimate climate change-attributed flood depths and damages during Hurricane Harvey in Harris County, Texas. Using detailed land-parcel and census tract socio-economic data, we then describe the socio-spatial characteristics of these climate change-induced impacts. We show that 30 to 50% of the flooded properties would not have flooded without climate change. Climate change-attributed impacts were particularly felt in Latina/x/o neighbourhoods, and especially so in Latina/x/o neighbourhoods that were low-income and among those located outside of FEMA’s 100-year floodplain. Our focus is thus on climate justice challenges that not only concern future climate change-induced risks, but are already affecting vulnerable populations disproportionately now.
Time
(Friday) 13:00 - 14:00
15feb18:3019:30MaR Seminar/Webinar - Vilmante Kumpikaite-Valiuniene
Event Details
CEF.UP – MaR Seminar/Webinar Tuesday – February 15th, 2022 6:30 p.m. - 7:30 p.m. | Room 305 | Online "International employees’ adjustment research: retrospective overview using bibliometric analysis" Vilmante Kumpikaite-Valiuniene -
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CEF.UP – MaR Seminar/Webinar
Tuesday – February 15th, 2022 6:30 p.m. – 7:30 p.m. | Room 305 | Online
“International employees’ adjustment research: retrospective overview using bibliometric analysis“
Vilmante Kumpikaite-Valiuniene – Kaunas U. of Technology, School of Economics and Business (joint work with Irma Baneviciene)
Area: Org & HR
Time
(Tuesday) 18:30 - 19:30
08feb13:0014:00ECO Seminar/Webinar - Sílvia Jorge
Event Details
CEF.UP – ECO Seminar/Webinar Tuesday – February 8th, 2022 1:00 p.m. | Room 305 | Online "Endogenous Market Coverage with Quality Dependent Unit Production Costs" Sílvia Jorge - Universidade de Aveiro (joint
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Event Details
CEF.UP – ECO Seminar/Webinar
Tuesday – February 8th, 2022 1:00 p.m. | Room 305 | Online
“Endogenous Market Coverage with Quality Dependent Unit Production Costs”
Sílvia Jorge – Universidade de Aveiro (joint work with Joana Pinho, Margarida Catalão-Lopes, Cesaltina Pacheco Pires, Pedro Garcês and Adriana Alventosa)
Abstract
“This paper endogeneizes the level of market coverage through competing firms’ choices in a vertically differentiated market, using a two-stage imperfect information game in which firms decide their quality-price mix. Most of the existing literature has ex-ante assumed either full or partial coverage, which is misleading. The only exceptions consider nil costs or higher fixed costs for higher quality offered, which is too restrictive since the quality choice also influences variable production costs. We set up a more realistic scenario of unit production costs increasing with quality and derive the subgame perfect Nash equilibria in terms of quality, price and coverage level. We show that either full or partial market coverage may arise in equilibrium. Partial coverage occurs when the level of the lowest valuation consumer is low. When the level is intermediate or high, full coverage subsists in equilibrium, with positive or nil surplus for the lowest valuation consumer (full coverage corner solution). Our results have important implications in terms of firms´ market positioning and pricing decisions, presenting a deeper and complete endogenous market coverage equilibrium analysis.”
Time
(Tuesday) 13:00 - 14:00