Conferences - Seminars

23MAY
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  12:00-13:30 ODY 4 03

"Reallocation and productivity during the Great Recession: evidence from French manufacturing firms" Résumé According to the `cleansing hypothesis', recessions are periods in which productivity-enhancing reallocation intensifies, shifting resources away from less efficient to more efficient firms at a greater pace. Does the Great Recession of 2008-2010 fit this view? We address this question, studying the ... Read more about "Seminar by Prof. Daniele Moschella, Scuola Superiore Sant'Anna"
25MAY
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  10:30-12:00 Unil, Extranef building, room 126

We analyze the payout decision of a financially-constrained firm that cannot raise external funds. Exogenous cash flows are generated by a two-state Markov regime-switching process and are positive in one regime and negative in the other regime. The firm is motivated to pay out dividends to impatient shareholders but is also motivated to accumulate cash ... Read more about "Tobin’s Q and Optimal Dividends, Investment, and Liquidity in a Financially-Constrained Firm"
By Andrew B. ABEL (Wharton, University of Pennsylvania)
25MAY
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  10:30-12:00 ODY 4 03

"Immigration and Invention: Evidence from the Quota Acts" Abstract Since (Hicks, 1932), economists have noted that inventions often economize on labor, so scarce labor should encourage more invention. But (Acemoglu, 2010) notes that in canonical macroeconomic models, plentiful labor encourages invention. The stakes of this debate are high in the policy context of mass immigration. ... Read more about "Seminar by Prof. Kirk Doran, University of Notre Dame"
01JUN
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By Monika PIAZZESI (Stanford University)