Seminario 26/01 – Francisco Alcalá (IVIE y CEPR) – Remembered happiness, lingering utility, and the Epicurean homo oeconomicus

consumption

Abstract: Consumption experiences generate enduring satisfaction (or dissatisfaction) that persists beyond the moment of consumption. This paper analyzes the rational behavior of individuals who anticipate this lasting impact and the cognitive limitations that shape memories–i.e, the peak-end rule, as documented by Daniel Kahneman and coauthors. The peak rule gives rise to non-smooth consumption trajectories characterized…

Seminario 24/06 – Carlos Victoria: What drives fiscal partisanship? Evidence from Spanish local elections

politics

The phenomenon of partisanship in fiscal policy has been a long-lasting topic in the economic literature, from the earlier cross-country studies to more recent empirical analyses at the microeconomic level. However, less is known about the mechanisms that can exacerbate or mitigate this partisan behavior. Using a regression-discontinuity design and a rich electoral and budgetary…

Seminario 24/04 – Volker Schoer (University of the Witwatersrand, South Africa): Discursive classroom interaction practices and student achievement in mathematics: Evidence using an International large-scale education dataset

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Improving the mathematics performance of school children is an objective for many policy makers around the world. It is obvious that mathematics teachers may have a key role to play in this process; however, robust examination of the teacher characteristics and practices of teachers that help to raise pupil mathematics achievement is relatively sparse, particularly…

Seminario 23/07 – Íñigo Iturbe Ormaetxe (Universidad de Alicante) – Motivated beliefs about stock returns

stock_market

Systematic biases in return expectations may distort stock prices and lead to inefficient capital allocation. In this paper, we report experimental evidence that buying a stock induces optimistically biased expectations when its price drops below the purchase price. We find this effect in a controlled laboratory experiment as well as in a six-week-long online experiment…

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

paro

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

trust

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

school

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 22/09 – 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…