NEXT 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
PAST EVENTS
december 2022
15dec13:0014:00ECO Seminar/Webinar - Giovanni Ricco
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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
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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
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
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
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
august 2022
No Events
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
No Events
may 2022
No Events
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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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
No Events
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
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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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
january 2022
No Events