European Center for Advanced Research in Economics and Statistics
News
BE-PARADIS Workshop
The Paradox of Inequality in Belgium | BE-PARADIS workshop Tuesday 3 December 2024University Foundation | Egmontstraat, 11, 1000 Brussel
Job Opening: Finance Position
24 October 2024A job opening is available in the field of Finance at The Solvay Brussels School of Economics and Management (SBS-EM). This position is an excellent opportunity for those interested in contributing to research and teaching. The details and application process can be found via the following links:
Estelle Cantillon Elected Fellow of the Econometric Society
16 October 2024Congratulations to Estelle Cantillon for being elected as a fellow of the Econometric Society!
Publications
The macroeconomic costs of energy policies: Quasi-fiscal deficit in the Middle East and North Africa (2024)
Energy Economics
Daniel Camos, Antonio Estache , Mohamad M. Hamid
Foreign Debt, Capital Controls, and Secondary Markets: Theory and Evidence from Nazi Germany (2024)
Journal of Political Economy
Andrea Papadia and Claudio A. Schioppa
The Morality of Markets (2024)
Journal of Political Economy
Mathias Dewatripont and Jean Tirole
Working paper : Political Disconnect? Evidence From Voting on EU Trade Agreements (2024-19)
Paola Conconi & Florin-Lucian Cucu & Federico Gallina & Mattia Nardotto
Working paper : Can Lotteries help fix Procurement Failures? A Review of Theory and Evidence (2024-18)
Antonio Estache & Renaud Foucart & Tomas Serebrisky
Calendar
- 8 November 2024
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Antonino Varde,UNICATT
08 Nov, 12:15 - 13:30-
Title: Inheritance Laws and Ecclesiastical Career: a Study of Italian Nobility
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Abstract:
This study uses genealogical data on Italian nobility from the 15th to 17th centuries to explore the impact of a legislative reform on feudal succession, enacted by Philip II in 1570 for the Kingdom of Naples. The findings reveal that the reform decisively increased the pursuit of ecclesiastical careers among cadet members of noble families.Following the Italian Wars, the Spanish monarchy allowed the transmission of fiefs through collateral lines in Naples, formalized in a Prammatica of 1570. Prior to this reform, noble families were compelled to arrange marriages for all their children in order to retain feudal concessions, despite the risk of estate fragmentation. However, the Prammatica enabled the consolidation of inheritances in the hands of eldest sons, encouraging younger sons (cadets) to pursue ecclesiastical careers, such as joining the clergy or monastic-military orders, to renounce their inheritance and avoid producing heirs.
The identification strategy is based on a canonical difference-in-differences (TWFE) approach. The dependent variable is binary, indicating an individual’s membership in the clergy. The treatment group consists of Neapolitan feudal families, while Sicilian families serve as the control group, selected due to their similar economic, social, and cultural contexts. Fixed effects are incorporated for both time (decade of birth) and family lineage. The dataset comprises approximately 3,600 individuals born between 1500 and 1640 from 42 noble lineages.
Data were sourced from secondary historical and genealogical studies, as well as primary sources, including family archives held in the state archives of Palermo, Naples, and Messina, alongside treatises on 16th- and 17th-century feudal dynasties.
4o
Location: R42.2.110Nov
08Antonino Varde,UNICATT-
Title: Inheritance Laws and Ecclesiastical Career: a Study of Italian Nobility
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Abstract:
This study uses genealogical data on Italian nobility from the 15th to 17th centuries to explore the impact of a legislative reform on feudal succession, enacted by Philip II in 1570 for the Kingdom of Naples. The findings reveal that the reform decisively increased the pursuit of ecclesiastical careers among cadet members of noble families.Following the Italian Wars, the Spanish monarchy allowed the transmission of fiefs through collateral lines in Naples, formalized in a Prammatica of 1570. Prior to this reform, noble families were compelled to arrange marriages for all their children in order to retain feudal concessions, despite the risk of estate fragmentation. However, the Prammatica enabled the consolidation of inheritances in the hands of eldest sons, encouraging younger sons (cadets) to pursue ecclesiastical careers, such as joining the clergy or monastic-military orders, to renounce their inheritance and avoid producing heirs.
The identification strategy is based on a canonical difference-in-differences (TWFE) approach. The dependent variable is binary, indicating an individual’s membership in the clergy. The treatment group consists of Neapolitan feudal families, while Sicilian families serve as the control group, selected due to their similar economic, social, and cultural contexts. Fixed effects are incorporated for both time (decade of birth) and family lineage. The dataset comprises approximately 3,600 individuals born between 1500 and 1640 from 42 noble lineages.
Data were sourced from secondary historical and genealogical studies, as well as primary sources, including family archives held in the state archives of Palermo, Naples, and Messina, alongside treatises on 16th- and 17th-century feudal dynasties.
4o
Friday, 12:15 - 13:30
Location: R42.2.110
- 12 November 2024
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Sampreet Goraya, SSE
12 Nov, 14:00 - 15:30Homepage
Title: Identity, Market Access, and Demand-led DiversificationAbstract: Using Indian microdata on employer-employee caste composition and household consumption, we document that demand is segmented along caste lines, restricting firms’ ability to penetrate markets, and affecting the firm size distribution in the economy. We develop a model where consumers prefer goods produced by socially closer groups and firms overcome these barriers by hiring employees from the target consumer group. We identify the structural parameters governing demand segmentation using rainfall-induced demand shocks. Our counterfactuals show that social identity-driven barriers restrict the growth of high-quality firms while keeping low-quality firms in the market, thus constraining aggregate income. A decline in the cost of hiring out-group employees increases firm size through greater market access and enhances consumer welfare through greater variety of products.
Location:Nov
12Homepage
Title: Identity, Market Access, and Demand-led DiversificationAbstract: Using Indian microdata on employer-employee caste composition and household consumption, we document that demand is segmented along caste lines, restricting firms’ ability to penetrate markets, and affecting the firm size distribution in the economy. We develop a model where consumers prefer goods produced by socially closer groups and firms overcome these barriers by hiring employees from the target consumer group. We identify the structural parameters governing demand segmentation using rainfall-induced demand shocks. Our counterfactuals show that social identity-driven barriers restrict the growth of high-quality firms while keeping low-quality firms in the market, thus constraining aggregate income. A decline in the cost of hiring out-group employees increases firm size through greater market access and enhances consumer welfare through greater variety of products.
Sampreet Goraya, SSE
Tuesday, 14:00 - 15:30
Location:
- 14 November 2024
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Nov
14Ioana Marinescu, Boston University
Thursday, 16:30 - 18:00
Location:
- 15 November 2024
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Nov
15Zhanar Khonys, ECARESFriday, 12:15 - 13:30
Location: 2.113
- 19 November 2024
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Sugandha Srivastav - University of Oxford
19 Nov, 14:00 - 15:30Title : Bringing Breakthrough Technologies to Market:
Risk reduction for Solar Power
Abstract : Solving societal problems such as climate change requires commercializing new technologies. Yet, due to incomplete information, there are underdeveloped markets for finance and insurance for these new technologies. Temporary support to bring the first set of projects to market may be warranted to resolve this credit market failure. I investigate the impact of the
UK’s feed-in tariff (FiT) which provides revenue certainty by offering a fixed price for power generated by solar farms over 25 years. Exploiting the presence of bunching at the policy’s eligibility threshold, I find the FiT supported the first tranche of commercial solar investments in the country, contributing to at least 2.3 GW of additional capacity from 2010-2015 (equal
to one-fifth of all solar in the UK today). Tradable certificates for clean energy that provided similar subsidies at the point of entry, but without the long-term guarantee over price, were not able to induce the same degree of market-creation, illustrating the value of risk reduction. A social cost of
carbon equal to £100/tCO2 makes the FiT a net benefit.Location:Nov
19Title : Bringing Breakthrough Technologies to Market:
Risk reduction for Solar Power
Abstract : Solving societal problems such as climate change requires commercializing new technologies. Yet, due to incomplete information, there are underdeveloped markets for finance and insurance for these new technologies. Temporary support to bring the first set of projects to market may be warranted to resolve this credit market failure. I investigate the impact of the
UK’s feed-in tariff (FiT) which provides revenue certainty by offering a fixed price for power generated by solar farms over 25 years. Exploiting the presence of bunching at the policy’s eligibility threshold, I find the FiT supported the first tranche of commercial solar investments in the country, contributing to at least 2.3 GW of additional capacity from 2010-2015 (equal
to one-fifth of all solar in the UK today). Tradable certificates for clean energy that provided similar subsidies at the point of entry, but without the long-term guarantee over price, were not able to induce the same degree of market-creation, illustrating the value of risk reduction. A social cost of
carbon equal to £100/tCO2 makes the FiT a net benefit.Sugandha Srivastav - University of Oxford
Tuesday, 14:00 - 15:30
Location:
- 20 November 2024
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Nov
20Public Holiday - St V
- 26 November 2024
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Sara Casella, LUISS
26 Nov, 14:00 - 15:30Title: ''Women's Labor Force Participation and the Business Cycle"
Abstract: This paper studies the macroeconomic implications of the rise in participation and attachment to the labor force of women and secondary earners. I develop a business cycle model of couples that features labor market frictions, endogenous labor supply, and human capital accumulation. Households face unemployment risk over the business cycle, and secondary earners adjust their labor supply to respond to this risk, so that they are more likely to participate when primary earners are unemployed or face a high risk of job loss. I validate the model using novel empirical evidence documenting that women with higher labor market experience are more likely to respond. A large mass of marginal secondary earners will dampen fluctuations in aggregate employment if in downturns the income effect induced by unemployment is greater than the substitution effect due to lower wages. The magnitude of the counter-cyclical effect is proportional to the distance from the participation frontier of secondary earners, which in turn depends on the gap in net wages between partners. For a gender gap smaller than 20%, aggregate labor supply elasticity of women converges to that of men, and the dampening effect wanes.
Location: R42.2.113Nov
26Title: ''Women's Labor Force Participation and the Business Cycle"
Abstract: This paper studies the macroeconomic implications of the rise in participation and attachment to the labor force of women and secondary earners. I develop a business cycle model of couples that features labor market frictions, endogenous labor supply, and human capital accumulation. Households face unemployment risk over the business cycle, and secondary earners adjust their labor supply to respond to this risk, so that they are more likely to participate when primary earners are unemployed or face a high risk of job loss. I validate the model using novel empirical evidence documenting that women with higher labor market experience are more likely to respond. A large mass of marginal secondary earners will dampen fluctuations in aggregate employment if in downturns the income effect induced by unemployment is greater than the substitution effect due to lower wages. The magnitude of the counter-cyclical effect is proportional to the distance from the participation frontier of secondary earners, which in turn depends on the gap in net wages between partners. For a gender gap smaller than 20%, aggregate labor supply elasticity of women converges to that of men, and the dampening effect wanes.
Sara Casella, LUISS
Tuesday, 14:00 - 15:30
Location: R42.2.113
- 29 November 2024
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Nov
29Bastien Bernon, ECARESFriday, 12:15 - 13:30
Location: 2.113
- 3 December 2024
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Dec
03Rosa Ferrer, BSE
Tuesday, 14:00 - 15:30
Location:
- 10 December 2024
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Dec
10Aniol Llorente-Saguer, QMUL
Tuesday, 14:00 - 15:30
Location:
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