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PhD lecture - Eric Maskin - Day 1
PhD lecture - Eric Maskin - Day 1
04 May, 10:00 - 11:30
Title : The Arrow impossibility theorem
Location: R42.2.110
Title : The Arrow impossibility theorem
PhD lecture - Eric Maskin - Day 1
Monday, 10:00 - 11:30
Location: R42.2.110
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PhD lecture - Eric Maskin - Day 1
PhD lecture - Eric Maskin - Day 1
04 May, 14:00 - 15:30
Title : A resolution of the Arrowimpossibility theorem
Location: R42.2.110
Title : A resolution of the Arrowimpossibility theorem
PhD lecture - Eric Maskin - Day 1
Monday, 14:00 - 15:30
Location: R42.2.110
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Philipp Gersing - Université de Vienne
Philipp Gersing - Université de Vienne
04 May, 14:15 - 15:15
Title: Infinite Dimensional Factor Spacesby Subspace Methods
Authors: Matteo Barigozzi, Philipp Gersing
Abstract:We propose anew and simple subspace-based estimator for the Generalised Dynamic FactorModel (GDFM) that accommodates infinite-dimensional factor spaces. Inparticular, the number of static and/or weak factors spanning thecontemporaneous common component space is allowed to be infinite. Our procedureoperates entirely in the time domain by recovering the infinite past of thecommon shocks from static aggregates and their lags. Hence, in contrast toexisting approaches, we completely avoid estimating the spectral density in apreliminary step. We develop the corresponding estimation theory andinferential framework, and demonstrate through simulation studies that ourmethod outperforms existing approaches in the literature. In an empiricalapplication to Viennese Real estate data, we show that there are sizabledifferences between the impulse response function of the static and the dynamiccommon component to the common dynamic shocks.
Location: R42.2.113
Title: Infinite Dimensional Factor Spacesby Subspace Methods
Authors: Matteo Barigozzi, Philipp Gersing
Abstract:We propose anew and simple subspace-based estimator for the Generalised Dynamic FactorModel (GDFM) that accommodates infinite-dimensional factor spaces. Inparticular, the number of static and/or weak factors spanning thecontemporaneous common component space is allowed to be infinite. Our procedureoperates entirely in the time domain by recovering the infinite past of thecommon shocks from static aggregates and their lags. Hence, in contrast toexisting approaches, we completely avoid estimating the spectral density in apreliminary step. We develop the corresponding estimation theory andinferential framework, and demonstrate through simulation studies that ourmethod outperforms existing approaches in the literature. In an empiricalapplication to Viennese Real estate data, we show that there are sizabledifferences between the impulse response function of the static and the dynamiccommon component to the common dynamic shocks.
Philipp Gersing - Université de Vienne
Monday, 14:15 - 15:15
Location: R42.2.113
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5
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PhD lecture - Eric Maskin - Day 2
PhD lecture - Eric Maskin - Day 2
05 May, 10:00 - 11:30
Title : The Gibbard–Satterthwaite theorem
Location: R42.2.110
Title : The Gibbard–Satterthwaite theorem
PhD lecture - Eric Maskin - Day 2
Tuesday, 10:00 - 11:30
Location: R42.2.110
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PhD lecture - Eric Maskin - Day 2
PhD lecture - Eric Maskin - Day 2
05 May, 13:00 - 14:30
Title : A resolution of the GibbardSatterthwaite theorem
Location: R42.2.110
Title : A resolution of the GibbardSatterthwaite theorem
PhD lecture - Eric Maskin - Day 2
Tuesday, 13:00 - 14:30
Location: R42.2.110
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6
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Conference in honor of Mathias Dewatripont
Conference in honor of Mathias Dewatripont
06 May, 00:00 - 23:59
Location: R42.5.503
Conference in honor of Mathias Dewatripont
Wednesday, 00:00 - 23:59
Location: R42.5.503
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7
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Conference in honor of Mathias Dewatripont
Conference in honor of Mathias Dewatripont
06 May, 00:00 - 23:59
Location: R42.5.503
Conference in honor of Mathias Dewatripont
Wednesday, 00:00 - 23:59
Location: R42.5.503
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8
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Nicolas Mauricio Oviedo Davila, Autonomous University of Barcelona
Nicolas Mauricio Oviedo Davila, Autonomous University of Barcelona
08 May, 12:15 - 13:30
Title : A Theory on Blended Finance
Abstract : Impact investors face a fundamental tension: generating additionalitymay require accepting losses, but fiduciary constraints limit their ability toabsorb them. This paper shows that, in competitive financial markets, impactinvestors constrained to break even cannot improve on commercial finance. Westudy how scarce concessional capital can be optimally combined with no-losscapital, an approach commonly referred to as blended finance, to overcome thislimitation. In a model with private information and non-contractible effort,the optimal policy targets projects through cutoff rules that trade off impactpotential and financial viability. The results characterize when blendedfinance should enhance existing investments and when it should bring otherwiseunfunded projects to market.
Location: R42.2.113
Title : A Theory on Blended Finance
Abstract : Impact investors face a fundamental tension: generating additionalitymay require accepting losses, but fiduciary constraints limit their ability toabsorb them. This paper shows that, in competitive financial markets, impactinvestors constrained to break even cannot improve on commercial finance. Westudy how scarce concessional capital can be optimally combined with no-losscapital, an approach commonly referred to as blended finance, to overcome thislimitation. In a model with private information and non-contractible effort,the optimal policy targets projects through cutoff rules that trade off impactpotential and financial viability. The results characterize when blendedfinance should enhance existing investments and when it should bring otherwiseunfunded projects to market.
Friday, 12:15 - 13:30
Location: R42.2.113
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9
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10
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25
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Public Holiday
Public Holiday
25 May, 00:00 - 23:59
Location:
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26
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Banu Demir, Oxford University
Banu Demir, Oxford University
26 May, 14:00 - 15:30
Title : "PlasticTurkey: International Impacts of China's Waste Import Ban"
Abstract : In pollution haven theories, trade and environmental policies can have signifi-cant effects on the levels and incidence of pollution and economic activity across countries,leading potentially to a race to the bottom. This paper studies the international effects ofChina’s ban on plastic waste imports. In recent decades, high-income countries had beenreducing their plastic waste burden by exporting it to China. This changed in 2017 whenChina banned key plastic waste imports, raising concerns over creation of waste havens inother parts of the world. The paper shows that China’s policy led to a diversion of tradethat had repercussions for countries across the world. Turkey emerged as a major importerof plastic waste from high-income countries. We provide direct evidence that importers inTurkey gained economically from better access to plastic waste that could be recycled andre-used as inputs in production. But their gains did not outweigh the losses of domesticfirms that generated plastic waste and were displaced by import competition after China’sban. These domestic waste generators became more likely to mismanage their plastic waste,including through open burning. Air pollution increased more in Turkish regions wherethese waste generators were located. We model the channels of waste and recycling in agravity model of trade and the environment to explain the empirical findings and to quantifythe environmental externalities from China’s unilateral import ban
Location: R42.2.113
Title : "PlasticTurkey: International Impacts of China's Waste Import Ban"
Abstract : In pollution haven theories, trade and environmental policies can have signifi-cant effects on the levels and incidence of pollution and economic activity across countries,leading potentially to a race to the bottom. This paper studies the international effects ofChina’s ban on plastic waste imports. In recent decades, high-income countries had beenreducing their plastic waste burden by exporting it to China. This changed in 2017 whenChina banned key plastic waste imports, raising concerns over creation of waste havens inother parts of the world. The paper shows that China’s policy led to a diversion of tradethat had repercussions for countries across the world. Turkey emerged as a major importerof plastic waste from high-income countries. We provide direct evidence that importers inTurkey gained economically from better access to plastic waste that could be recycled andre-used as inputs in production. But their gains did not outweigh the losses of domesticfirms that generated plastic waste and were displaced by import competition after China’sban. These domestic waste generators became more likely to mismanage their plastic waste,including through open burning. Air pollution increased more in Turkish regions wherethese waste generators were located. We model the channels of waste and recycling in agravity model of trade and the environment to explain the empirical findings and to quantifythe environmental externalities from China’s unilateral import ban
Banu Demir, Oxford University
Tuesday, 14:00 - 15:30
Location: R42.2.113
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27
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28
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29
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Sirui Li, ECARES
Sirui Li, ECARES
29 May, 12:15 - 13:30
Location: R42.2.113
Sirui Li, ECARES
Friday, 12:15 - 13:30
Location: R42.2.113
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30
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31
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