Event Categories: BICEPS/SSE Riga Pētnieciskais seminārs
BICEPS/SSE Riga Research Seminar: Ageing and Urban Demand for Existing Homes
We are happy to invite you to a BICEPS/SSE Riga research seminar, which will take place on Thursday, February 16, at 17:00 at SSE Riga, room 411.
We are delighted to welcome Ellam Kulati as the speaker. Ellam is a PhD Scholar at the Centre for Economic Analysis (CenEA, Poland) and a Quantitative Psychology and Economics PhD candidate at the University of Warsaw.
Speaker: Ellam Kulati (Centre for Economic Analysis (CenEA), University of Warsaw, Quantitative Psychology and Economics (QPE))
Title: Ageing and Urban Demand for Existing Homes
Time: Thursday, February 16, 17:00
Venue: SSE Riga, room 411
Abstract
How does demographic ageing translate into the housing market? Despite the popularity of hedonic models in housing demand studies, situations where quantity changes better reflect demand adjustments have previously been identified. Using uniquely compiled data on 65 Polish city districts, spanning from 2010 to 2020, this paper interrogates price and turnover as measures of demand while empirically determining the demand adjustment patterns rendered by an ageing population. Results from the implemented spatial panel models reveal an inverse relationship of ageing to the demand for homeownership, predominantly reflected in price relative to quantity responses. The findings are robust to non-spatial model specifications.
BICEPS/SSE Riga Research Seminar: Employee-Owned Firms, First Work Experience, and Young Workers’ Careers
We invite you to a BICEPS/SSE Riga research seminar, which will take place on Thursday, December 15, at 17:00, SSE Riga room 611.
We are delighted to welcome Jose Garcia-Louzao as the speaker. Jose is a Principal Research Economist at the Applied Macroeconomics Research Division of the Bank of Lithuania, a Research Fellow at Vilnius University and a Research Afilliate of the CESifo Research Network. His research interest is in Applied Microeconometrics with a focus on Labor Economics. Read more about the speaker here.
Speaker: Jose Garcia-Louzao (Bank of Lithuania, Vilnius University, CESifo)
Title: Employee-Owned Firms, First Work Experience, and Young Workers’ Careers (co-authored with Gabriel Burdin)
Time: Thursday, December 15, 17:00
Venue: SSE Riga, room 611
Abstract
Employee ownership (EO) attracts considerable attention in academic and policy circles. While most studies assess the impact of EO by focusing on contemporaneous worker-firm relationships, surprisingly little is known about its dynamic effects on young workers’ career paths. Using detailed administrative data from Spain, we investigate the impact of having an initial work experience in a worker cooperative versus a conventional firm on subsequent earnings. We find that young workers’ exposure to cooperatives at the time of labour market entry reduces earnings by about 8% during the first 15 years in the labour market. The selection of individuals with low initial ability in cooperatives does not appear to be a relevant channel. Our results rather seem to be related to differences in the wage returns to experience and job mobility. On the one hand, we document lower wage returns to experience acquired in worker cooperatives, but no differences in subsequent career progression in terms of promotions. On the other hand, we find that workers who had their first job in a worker cooperative show a strong attachment to the cooperative sector and are less likely to voluntarily leave their employers. Taken together, our findings suggest the existence of cooperative-specific non-pecuniary job attributes that might compensate for lower lifetime earnings.
BICEPS/SSE Riga Research Seminar: Too Complex to Digest? Federal Tax Bills and Their Processing in US Financial Markets
We invite you to a BICEPS/SSE Riga research seminar, which will take place on Monday, December 5, at SSE Riga, room 411, at 12:00.
We are delighted to welcome Hamza Bennani as the speaker. Hamza is a Professor of economics in the Institute of Economics and Management at Nantes University, and a scientific advisor in the French Council of Economic Analysis (office of the Prime Minister). His research focuses on central bank communication, central bank decision-making process and media economics. His work has been published in journals such as the Journal of International Money and Finance, Economic Modelling and European Journal of Political Economy. Read more about the speaker here.
Speaker: Hamza Bennani (Nantes University, French Council of Economic Analysis)
Title: Too Complex to Digest? Federal Tax Bills and Their Processing in US Financial Markets (co-authored with Matthias Neuenkirch)
Time: Monday, December 5, 12:00
Venue: SSE Riga, room 411
Abstract
In this paper, we analyze whether the complexity of tax bills affects financial markets. Based on the Flesch-Kincaid grade level of the 32 tax bills identified by Romer and Romer (2010) in the period 1962–2003, we assess the relationship between tax bills’ complexity and financial markets using an event study approach. Our results show a negative (positive) and significant relationship between the present value of tax bills and changes in the 10-year government bond yields (S&P 500 returns). The magnitude of this relationship increases over time, suggesting that market participants underreact at first and need a couple of days to digest the information contained in the tax bills. This delay can be explained by the textual characteristics of the bills in the case of the 10-year yields as a lower readability partly offsets the negative relationship for up to three days after the signing of a tax bill, but not thereafter. In the case of the stock market, we find similar offsetting evidence, but only for a part of the readability measures employed in this paper.
No prior registration for the seminar is necessary. For any questions about the seminar, or if you have a colleague that would like to be added to the distribution list, please write to Nicolas Gavoille.
BICEPS/SSE Riga Research Seminar: Firm Heterogeneity and the Impact of Payroll Taxes
We invite you to a BICEPS/SSE Riga research seminar, which will take place on Thursday, November 24, at SSE Riga, room 411 (note a room change).
We are delighted to welcome Anikó Bíró as the speaker. Anikó is a senior researcher at the Institute of Economics, Centre for Economic and Regional Studies in Budapest, Hungary. She holds a PhD from Central European University. Anikó does empirical research in the fields of Labour Economics, Health Economics, and the Economics of Ageing. Her work has been published in journals such as the Journal of Public Economics, Labour Economics and Health Economics. Read more about the speaker here.
Speaker: Anikó Bíró (Institute of Economics, Centre for Economic and Regional Studies, Hungary)
Title: Firm Heterogeneity and the Impact of Payroll Taxes (co-authored with Réka Branyiczki, Attila Lindner, Lili Márk and Dániel Prinz)
Time: Thursday, November 24, 17:00
Venue: SSE Riga, room 411 (not the usual 611)
Abstract
We study the impact of a large payroll tax cut for older workers in Hungary. Motivated by the predictions of a standard equilibrium job search model, we examine the heterogeneous impact of the policy. Employment increases most at low-productivity firms offering lower-wage jobs, which tend to hire from unemployment, while the effects are more muted for high-productivity firms offering high-wage jobs. At the same time, wages only increase at high-productivity firms. These results point to important heterogeneity in the incidence of payroll tax cuts across firms and highlight that payroll taxes have a significant impact on the composition of jobs in the labor market.
No prior registration for the seminar is necessary. For any questions about the seminar, or if you have a colleague that would like to be added to the distribution list, please write to Nicolas Gavoille.
BICEPS/SSE Riga Research Seminar: Did Job Retention Schemes Save Jobs during the COVID-19 Pandemic? Firm-level Evidence from Latvia
We invite you to a BICEPS/SSE Riga research seminar, which will take place on Thursday, October 27, at SSE Riga, room 611.
We are delighted to welcome Konstantins Benkovskis (Bank of Latvia and SSE Riga) as the speaker. Konstantins is an advisor to the Monetary Policy Department at the Bank of Latvia and an Associate Professor at SSE Riga. His main research interests include international trade, non-price competitiveness, global value chains, productivity and resource allocation. Konstantins is the Board Member of the Baltic Economic Association and the Editor of the Baltic Journal of Economics.
Speaker: Konstantins Benkovskis (Bank of Latvia and SSE Riga)
Title: Did Job Retention Schemes Save Jobs during the COVID-19 Pandemic? Firm-level Evidence from Latvia (co-authored with Olegs Tkacevs and Karlis Vilerts, Bank of Latvia)
Time: Thursday, October 27, 17:00
Venue: SSE Riga, room 611
Abstract
The study examines the impact of participation of Latvia’s firms in the Job retention scheme (JRS) on firm employment during the covid-19 pandemics. It focuses on the idle-time allowances paid out during the first wave of the pandemics (in Spring 2020) and their employment effects until the beginning of the second wave (in Autumn 2020). It uses novel firm-level dataset at monthly frequency and applies difference-in-difference estimation to track employment dynamics over time in firms that participated in JRS versus firms that did not participate. The estimation results indicate that the employment effect of JRS participation was positive and statistically significant, i.e. participating firms managed to keep their employees and resume their economic activity faster than similar non-participating firms. The effect comes both from reducing the probability of becoming inactive, as well as from higher growth of the number of employees for firms that remained active. The effect appears particularly strong in sectors with a higher share of highly skilled employees and sectors with relatively low level of interpersonal contact. The allocation effect of JRS is ambiguous and is subject to further investigation.
No prior registration for the seminar is necessary. For any questions about the seminar, or if you have a colleague that would like to be added to the distribution list, please write to Nicolas Gavoille.
BICEPS/SSE Riga Research Seminar: Vacancies, Employment Outcomes and Firm Growth: Evidence from Denmark
After a 1.5-year break, we are pleased to restart BICEPS/SSE Riga research seminars and invite you to the first seminar, which will take place on Wednesday, October 13, at 17:00 at the usual venue – room 611.
We are delighted to welcome Ija Trapeznikova (Royal Holloway) as the first speaker. Ija Trapeznikova is a senior lecturer at Royal Holloway, University of London. Her research interests include a search and matching theory and structural estimation of labour market models. She has published in highly ranked general interest journals such as the Economic Journal and International Economic Review. Ija Trapeznikova earned her PhD in Economics from Northwestern University (IL, USA).
Speaker: Ija Trapeznikova (Royal Holloway)
Title: Vacancies, Employment Outcomes and Firm Growth: Evidence from Denmark
Co-authors: Jesper Bagger (Royal Holloway, Aarhus University), Francois Fontaine (Paris School of Economics, Université Paris 1–Panthéon Sorbonne), Manolis Galenianos (Royal Holloway)
Time: Wednesday, October 13, 17:00
Venue: SSE Riga, room 611
Abstract
We use comprehensive data from Denmark that combine online job advertisements with a matched employer-employee dataset and a firm-level dataset with information on revenues and value added to study the relationship between vacancy-posting and various firm outcomes. Posting a vacancy is associated with a 4.5 percentage point increase in a firm’s hiring rate and two-thirds of the additional hiring occurs within two months. The response of hiring from employment is twice as large as the response of hiring from non-employment. Firms that are smaller, low-wage and fast-growing are associated with larger hiring responses and that response materializes faster at larger firms, low-wage firms and fast-growing firms. We also find that separations are associated with subsequent vacancy posting and this effect is stronger for separations to employment, consistent with replacement hiring and the presence of vacancy chains. Growth in revenue and value added strongly predict vacancy-posting, with negative shocks having a stronger effect than positive shocks and larger shocks having less-than-proportional responses.
Please note that you will need an ID and a Covid vaccination certificate to enter SSE Riga building. Also, please note that this seminar will take place on Wednesday, not Thursday (our usual day).
No prior registration for the seminar is necessary. For any questions about the seminar, or if you have a colleague that would like to be added to the distribution list, please write to Nicolas Gavoille.
BICEPS/SSE Riga Research Seminar: Local banks as difficult to replace SME lenders: Evidence from bank corrective programs
UPDATE: Seminar is CANCELLED!
We kindly invite you to the BICEPS/SSE Riga research seminar! It will take place on Thursday, April 2 at 17.00 in room 611 with the presentation:
“Local banks as difficult to replace SME lenders: Evidence from bank corrective programs” by Oskar Kowalewski (IESEG, Paris).
No prior registration for the seminar is necessary. For any questions about the seminar, or if you have a colleague that would like to be added to the distribution list, please write to Nicolas Gavoille.
BICEPS/SSE Riga Research Seminar: Modelling the population of collusive firms
UPDATE: Seminar is CANCELLED!
We kindly invite you to the BICEPS/SSE Riga research seminar! It will take place on Thursday, March 19 at 17.00 in room 611 with the presentation:
“Modelling the population of collusive firms” by Chloé Le Coq (SITE, University of Paris II Panthéon-Assas), co-authored with Catarina Marvão (Dublin Institute of Technology) and Tove Forsbacka Karlsson (PhD at SSE).
Abstract
Consistent estimates of the probability of a cartel birth and death, as well as the factors influencing these are essential to designing optimal policies to detect and deter cartels. Due to limited access to data and the illegal nature of cartels in most jurisdictions, cartel studies are typically plagued by an inherent issue of sample selection bias. This paper analyzes the size of this bias, by using a unique dataset covering the population of legal cartels in Sweden between 1947 and 1993. We calculate the rates of cartel birth and death through a Hidden Markov model which take into account that the activity of cartels in the register might be noisy. We then use count models (zero-inflated Poisson and zero-inflated Negative Binomial) to calculate the expected number of cartels in the economy. Using the two estimated figures (the share and the absolute number of cartels present in the economy) we calculate the estimated total number of firms in the economy. We then compare this number against the true number in order to estimate the size of the sample selection bias in the data.
Next seminar
2020-04-02 “Local banks as difficult to replace SME lenders: Evidence from bank corrective programs” by Oskar Kowalewski (IESEG, Paris). Seminar is CANCELLED!
No prior registration for the seminar is necessary. For any questions about the seminar, or if you have a colleague that would like to be added to the distribution list, please write to Nicolas Gavoille.
BICEPS/SSE Riga Research Seminar: Wealth Distribution and Monetary Policy
We kindly invite you to the BICEPS/SSE Riga research seminar! It will take place on Thursday, March 5 at 17.00 in room 611 with the presentation:
“Wealth Distribution and Monetary Policy” by Ludmila Fadejeva (Bank of Latvia), co-authored with Zeynep Kantur (Bilkent University).
Abstract
We observe differences in net wealth distribution by age among European countries. Western EU countries’ net wealth distribution is consistent with the life cycle hypothesis. However in Eastern EU countries, wealth distribution is skewed towards younger ages. The aim of the paper is twofold: first we study the characteristics of economies leading to differences in net wealth distribution by age; second, we evaluate the impact of these differences on the transmission of monetary policy. To do so, we develop a modified New Keynesian model where the demand side is represented by a multi-period overlapping generations setup and the supply side of the economy follows a New Keynesian framework. The model is used to analyze the interaction between monetary policy and wealth accumulation originated by demo- graphics and productivity-gap among generations in a coherent general equilibrium model. Household Finance and Consumption Survey (HFCS) database is used to calibrate the model for two groups of European countries. We find that the shape of net wealth distribution by age has an important bearing on the effectiveness and hence conduct of monetary policy.
Next seminars
2020-03-19 “Modelling the population of collusive firms” by Chloé Le Coq (SITE, University of Paris II Panthéon-Assas). Seminar is CANCELLED!
2020-04-02 “Local banks as difficult to replace SME lenders: Evidence from bank corrective programs” by Oskar Kowalewski (IESEG, Paris). Seminar is CANCELLED!
No prior registration for the seminar is necessary. For any questions about the seminar, or if you have a colleague that would like to be added to the distribution list, please write to Nicolas Gavoille.
BICEPS/SSE Riga Research Seminar: The Early History of Gold Mining in the Russian Far East and Northeast China
We kindly invite you to the next BICEPS/SSE Riga research seminar. It will take place on Thursday, February 20 at 17.00 in room 611 with the presentation:
“The Early History of Gold Mining in the Russian Far East and Northeast China” by Mark Gamsa (Tel Aviv University).
Abstract
A vast historical literature has addressed gold mining and the gold rush periods in the United States, Canada, Australia, New Zealand and South Africa from the various perspectives of economic history, the “mining frontier” and imperialist expansion, alien labour and inter-ethnic relations, the impact of gold rushes on indigenous populations and the social history of mining as an occupation. Yet the history of gold mining in the border regions of Russia and China has never been comprehensively studied to date. As I will try to show, between the creation of the Russian Far East through tsarist Russia’s annexation of vast territory from the weakened Qing dynasty until the nationalization of the mining industry in the Soviet Union, gold mining was an important cross-border, transnational phenomenon. It involved both European and East Asian capital along with Russian, Chinese and Korean labour migrants and influenced the development of economy and society in this region.
Next seminars
2020-03-05 “Wealth Distribution and Monetary Policy” by Ludmila Fadejeva (Bank of Latvia).
2020-03-19 “Modelling the population of collusive firms” by Chloé Le Coq (SITE, University of Paris II Panthéon-Assas). Seminar is CANCELLED!
No prior registration for the seminar is necessary. For any questions about the seminar, or if you have a colleague that would like to be added to the distribution list, please write to Nicolas Gavoille.