Agenda

Descripció:

Rodrigo Martínez-Mazza
PhD student at IEB - UB. 

Link: https://us02web.zoom.us/j/84528813780?pwd=WUdJdTZzczFqcUdoMlllc2U4bnR1dz09

Abstract:

Young individuals are currently living with their parents more than at any other
point in time, while also struggling to become homeowners. In this paper, I show how
the conditions they faced when first entering the labor market affect their housing
tenure in the long term. Considering two large European surveys that cover up to 33
countries from 1994 to 2018 results confirm that an increase in the unemployment rate
at the time of graduation (1) has a positive and persisting effect on the probability of
living with parents and (2) leads to a worsening on affordability ratios for homeowners
and renters. I also make use of an OLG model to link negative income shocks at early
stages in life with changes in housing tenure at an aggregate level. Recent changes in
tenure decisions at the European level are consistent with model predictions. This set
of outcomes contributes to improving policy design with regards to housing access for
younger generations as to the current affordability crisis.

Ubicació: Zoom

Data: Dijous 5, Novembre de 2020 - 13:30h

Descripció:

Miriam Artiles (Universitat Pompeu Fabra and IPEG).

Link: https://us02web.zoom.us/j/86059080758?pwd=RE9CMW5lV051ZGF1VThSQjdweTZ5QT09. 

Ubicació: Zoom

Data: Dijous 5, Novembre de 2020 - 16:00h

Descripció:

Gaurav Metha (UAB-IDEA). 

Link: https://us02web.zoom.us/j/86059080758?pwd=RE9CMW5lV051ZGF1VThSQjdweTZ5QT09. 

Ubicació: Zoom

Data: Divendres 6, Novembre de 2020 - 12:00h

Descripció:

Gaurav Metha (UAB-IDEA).

Link: https://us02web.zoom.us/j/86059080758?pwd=RE9CMW5lV051ZGF1VThSQjdweTZ5QT09.

Ubicació: Zoom

Data: Divendres 6, Novembre de 2020 - 12:00h

Descripció:

Johanna Rickne (SOFI). 

Link: https://us02web.zoom.us/j/86059080758?pwd=RE9CMW5lV051ZGF1VThSQjdweTZ5QT09. 

Ubicació: Zoom

Data: Dilluns 9, Novembre de 2020 - 13:15h

Descripció:

Ricardo Alonso (LSE) will present his paper. 

Link: https://us02web.zoom.us/j/4324121027?pwd=THJkOFE2cS9vZ0FaRzZqUHFsRUVoUT09. 

Zoom meeting ID: 432 412 1027
Zoom password: micro

Abstract: In the absence of stress-tests, institutional investors must rely on the quality of their private research (expertise) to decide on whether to fund banks seeking capital. A regulator seeking to maximize (joint) investment as a function of fundamentals must take into account investors’ expertise when designing public stress-tests. We characterize the optimal public test and provide conditions for this test to, with positive probability, perfectly coordinate investment choices. We show that when investors’ private signals are, at the investment margin, not too discriminating of fundamentals then there is crowding-in of the public stress-test: the regulator offers a more informative public test to more expert investors. For instance, crowding-in always obtains if investors’ signals are discrete. A public test that maximizes joint investment can make investors worse off by inducing overinvestment in bad states or in the presence of negative externalities. Nevertheless, investors' value from more precise signals may come from the indirect effect on the precision of the public test.

Ubicació: Zoom

Data: Dimarts 10, Novembre de 2020 - 13:15h