Seminario 22/18: Manuel Pérez García (Shanghai Jiao Tong University) – Global Trade in Imperial China and Spain: GECEM Project Database and Big Data Mining (1680-1840)

paper money china

Abstract Within the framework of the current global crisis provoked by the COVID-19 pandemic and the hegemonic role of China in the world economy, the revision of China’s socioeconomic and political transformation from imperial Qing dynasty until the present day is paramount. This presentation focuses on a crucial period in the history of China, the…

Seminario 22/17: Germán López Buenache (Universidad de Murcia) Factor models for large and incomplete data sets with unknown group structure

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Most economic applications rely on a large number of time series, which typically have a remarkable clustering structure and they are available over different spans. To handle these databases, we combined the expectation–maximization (EM) algorithm outlined by Stock and Watson (JBES, 2002) and the estimation algorithm for large factor models with an unknown number of…

Seminario 22/16: Lisard Palau (Universidad de Barcelona) – La formación del mercado de trabajo en las colonias industriales de Catalunya, 1900-1936

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Cuando hablamos de las colonias industriales textiles nos estamos refiriendo, seguramente, a uno de los fenómenos más característicos de la industrialización de Catalunya. Surgidas mayormente a partir de los años setenta del siglo XIX, tendieron a ubicarse a lo largo de los cursos fluviales de los ríos Llobregat, Ter y afluentes para utilizar el agua…

Seminario 22/15: Ismael Gálvez Iniesta (Universidad de las Islas Baleares) Being young in Spain and the Scars from Recessions

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We assess the unequal effects of the Great Recession on the labor market outcomes of different cohorts of young individuals and education groups in Spain. We provide empirical evidence that young workers in Spain suffer from a high unemployment rate because of a low job-finding rate and a high separation rate. We also document that…

Seminario 22/14. Paul De Grauwe (London School of Economics and Political Sciences) – Trust and monetary policy

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El eminente economista Paul De Grauwe, en la víspera del día de la ceremonia en la que tendrá lugar su investidura como Doctor Honoris Causa de la Universidad de Murcia, impartirá un seminario/conferencia dirigido a los estudiantes del programa de doctorado DEcIDE y, en general, a todos los estudiantes y profesores de la Facultad de…

Seminario 22/13: Marc Escrihuela (Universidad de las Islas Baleares). On the role of bargaining power in Nash-in-Nash bargaining: when more may be less

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In many economically relevant situations, the outcome of a negotiation determines not only how the two parties share the surplus generated by their interaction (share effect), but also the aggregate surplus (size effect). We show that, in multilateral negotiations modeled using the Nash-in-Nash solution, the equilibrium payoff of a party may be decreasing in her…

Seminario 22/12. Darragh Flannery (University of Limerick)- School socio-economic context and student achievement in Ireland: An unconditional quantile regression analysis using PISA 2018 data

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The existence of a ‘multiplier’, ‘compositional’ or ‘social context effect’ is debated extensively in the literature on school effectiveness. Some researchers have posited that the relationship between social context and achievement is mediated by school, teacher or classroom factors, such as teacher expectations, quality of instruction, or adequacy of school resources. In this context, this…

Seminario 22/11: Magdalena Kapelko (Wroclaw University of Economics and Business) – Measuring Firms’ Dynamic Inefficiency Accounting for Corporate Social Responsibility in the US Food and Beverage Manufacturing Industry

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Abstract This article proposes an innovative approach to evaluate firms’ inefficiency accounting for corporate social responsibility (CRS) activities of firms. In the first step, we estimate dynamic inefficiency for each input, marketable output, CSR output and investment using Data Envelopment Analysis. Dynamic inefficiency measure accounts for the confounding role of adjustment costs related with firms’…

Seminario 22/10: Maria Chiara Pagliarella (University of Cassino and Southern Lazio). Three-fold Fay-Herriot model for small area estimation

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This paper introduces a three-fold Fay-Herriot model with random effects at three hierarchical levels. Small area best linear unbiased predictors of linear indicators are derived from the new model and the corresponding mean squared errors are approximated and estimated analytically and by parametric bootstrap. The problem of influence analysis and model diagnostics is addressed by…

Seminario 22/09 – Debrah Meloso (Toulouse Business School) Algorithm choice in experimental markets: individual and aggregate effects

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We use high-performance Continuous Double Auction trading software and algorithms to study the effects of algorithmic trading on pricing and allocative efficiency in a laboratory environment. In addition to trading manually, participants can deploy algorithms that bid marginal valuations modulo a spread and a market-making (maker) or liquidity-taking (taker) parameter. The spread and maker/taker parameters…