Post on 24-Mar-2018
ASSET 2000 Euroconference
Lisbon, November 3 and 4, 2000
Faculdade de EconomiaUniversidade Nova de Lisboa
Travessa Estêvão Pinto (Campolide)1099-032 Lisboa
Portugal
Sponsored by
European CommissionFundação Calouste Gulbenkian
Banco de PortugalFundação Luso-Americana para o Desenvolvimento
Caixa Geral de Depósitos
Conference Programme
Friday, November 3, 2000
Time Event Place
8:00 – 9:00 Registration Welcome Desk9:00 – 9:15 Opening Session Amphitheatre 2249:15 – 11:00 Parallel Sessions:
Applied Econometrics Room 241Finance I Room 217Game Theory I Room 219Growth I Room 215Industrial Organization I Room 221Industrial Organization V Room 223Resource Economics I Room 209
11:00 – 11:30 Coffee Break Main Lobby11:30 – 13:00 Panel: Post Graduate Education in Economics in Europe Amphitheatre 22413:00 – 14:30 Lunch Faculty Restaurant14:30 – 15:30 ASSET Lecture: Xavier Sala-I-Martin Amphitheatre 224
The Empirical Determinants of Growth15:30 – 16:00 Coffee Break Main Lobby16:00 – 17:45 Parallel Sessions:
Econometric Theory Room 219General Equilibrium Room 209Industrial Organization II Room 221Labour Economics I Room 223Macro Room 215Mechanism Design Room 217Political Economy Room 241
18:15 -- Reception Ventura Terra Palace
Saturday, November 4, 2000
Time Event Place
9:00 – 10:00 PARETO Lecture: Ehud Kalai Amphitheatre 224Private Information in Large Games.
10:00 – 10:30 Coffee Break Main Lobby10:30 – 12:15 Parallel Sessions:
Financial Markets Room 219Growth II Room 241Social Choice I Room 209Industrial Organization III Room 217Labour Economics II Room 221Monetary Economics I Room 215Resource Economics II Room 223
12:15 – 14:00 Lunch Faculty Restaurant14:00 – 15:30 Panel: Water Management in Southern Europe Amphitheatre 22415:30 – 16:00 Coffee Break Main Lobby16:00 – 17:45 Parallel Sessions:
Finance II Room 241Game Theory II Room 223Social Choice II Room 209Industrial Organization IV Room 217International Economics Room 215Monetary Economics II Room 221Health Economics Room 219
20:00 -- Dinner Ventura Terra Palace
Parallel Sessions
Friday, November 3, 2000, 9:15 – 11:00
Applied Econometrics (CHAIR: Sakellaris, Plutarchos)
Agundez-Garcia, Ana Universidad de Extremadura (SPAIN) Fiscal Revenue Decentralization andand University of York (UK) Regional Economic Growth
Picci, Lucio Universita' di Bologna Institution Building and EconomicActivity
Lamorgese, Andrea R. Ente Einaudi (Rome) and ECARES The geography of intercity risk-sharing- Universite Libre de Bruxelles
Sakellaris, Plutarchos University of Maryland and Patterns of Plant AdjustmentUniversity of Iioaninna
Finance I (CHAIR: Antão, Paula)
Ebell, Monique Universitat Pompeu Fabra Why are Asset Returns more VolatileDuring Recessions? ATheoreticalExplanation
Muermann, Alexander Financial Markets Group,l Pricing Catastrophe InsuranceLondon School of Economics Derivatives
Antão, Paula Universidade Nova de Lisboa Market Illiquidity and the Bid-AskSpread of Derivatives
Game Theory I (CHAIR: Moreno, Emma)
Revilla, Pablo University of Alicante Strategy-Proofness and the CoalitionFormation Problem
Papai, Szilvia Universidade Nova de Lisboa Unique Stability in Simple CoalitionFormation Games
Moreno, Emma University of Salamanca Non-Manipulability in Walrasian CostGames
Growth I (CHAIR: Morales, Fuensanta)
Moro-Egido, Ana I. University of Alicante Existence of an Invariant Distributionof Income
Jensen, Martin Kaae University of Copenhagen Competitive Balanced GrowthEquilibria
Kollintzas, Tryphon Athens University of Economics and Rent seeking, corruption and growth:Business, CEPR and IMOP A simple model
Morales, Fuensanta Universitat Autonoma de Barcelona Research Policy and EndogenousGrowth
Industrial Organization I (CHAIR: Peitz, Martin)
Motta, Massimo European University Institute Buyers' coordination and entry
Hoernig, Steffen Universidade Nova de Lisboa Existence and Comparative Statics inHeterogeneous Cournot
Nocke, Volker Nuffield College, University of Oxford Market Size and Firm Turnover
Peitz, Martin Universidad de Alicante On price competition withHeterogeneous consumers
Industrial Organization V (CHAIR: Ellman, Mathew)
Casado-Izaga, F. Javier Universidad del País Vasco Should owners of firms delegate long-run decisions?
Auriol, Emmanuelle University of Toulouse Incentives Hierarchies
López-Cuñat, Javier M. University of Alicante Adverse selection and managerialincentives
Ellman, Matthew Universitat Pompeu Fabra Employment versus Outsourcing: aContractual Theory of the Firm
Resource Economics I (CHAIR: Alpay, Savas)
Brasão, Ana Universidade Nova de Lisboa A Coalition Approach to theManagement of High Seas Fisheries inthe Presence of Externalities
Cunha-e-Sá, Maria Ant. Universidade Nova de Lisboa Experimentation with Accumulation
Alpay, Savas Bilkent University International Competitiveness andEnvironmental Regulation
Friday, November 3, 2000, 16:00 – 17:45
Econometric Theory (CHAIR: Fernandez-Macho, Javier)
Vera Hernández, Ángel Marcos Universitat Autonoma de Barcelona A Semi-Nonparametric Estimator forCounts with an Endogenous DummyVariable
Archontakis, Fragiskos European University Institute Wald Tests on Hypotheses forIntegrated Processes
Ferreira Machado, José Universidade Nova de Lisboa Quantile Regression Analysis ofTransition Data
Fernandez-Macho, Javier University of the Basque Country Cyclical common factors inCointegrated systems
General Equilibrium (CHAIR: Zenginobuz, Unal)
Villar, Antonio University of Alicante On the Efficiency of MarketEquilibrium in Production Economies
Alcantud, J. C. R. University of Salamanca On the representability of consumer'sbehavior
Andre, Viviane European University Institute Liberalization of the Frenchagricultural sector following the CAPreforms: A welfare assessment in ageneral equilibrium framework
Zenginobuz, Unal Bogazici University Private Provision of Public Goods,Non-Neutrality of Taxes, CrowdingOut Effects and Welfare Analysis
Industrial Organization II (CHAIR: Sabater Grande, Gerardo)
Garella, Paolo Universita di Bologna Advertising and Prices as Signals ofQuality in a Regime of Price Rivalry
Fabra, Natalia European University Institute Collusive Behaviour with CapacityConstraints
Sabater Grande, Gerardo Universitat Jaume I Product Design Announcement andthe Stability of Collusion
Labour Economics I (CHAIR: Spadaro, Amedeo)
Petrakis, Emmanuel University of Crete The Political Economy of the NationalMinimum Wage Institution
Ceroni, Carlotta Berti University of Bologna Compulsory schooling laws and thecure against child labor
Fugazza, Marco European University Institute Search Bonuses: An alternative toDeclining Unemployment Benefits?
Spadaro, Amedeo Delta Paris, Redistribution and Labour SupplyUniversitat de les Illes Balears Incentives: A Simple Application of
the Optimal Tax Theory
Macro (CHAIR: Lebre de Freitas, Miguel)
Modesto, Leonor Universidade Católica Portuguesa Unions, Increasing Returns andEndogenous Fluctuations
Gallegati, Marco University of Ancona Business Cycles Fluctuations inEurope (1960-1998)
Sideris, Dimitrios Bank of Greece and University of Crete Testing Long-run Purchasing PowerParity under Exchange Rate Targeting
Lebre de Freitas, Miguel Universidade de Aveiro Challenging an established vehicle: theeuro and the dollar
Mechanism Design (CHAIR: Kast, Robert)
Sanchez, M.Carmen Universidad de Murcia A KKM-Result and an Application forBinary and Non-Binary ChoiceFunctions
Sanver, Ipek Bogazici University Tradeproofness and the MatchingMarket
Luchini, Stéphane Université de la Méditerranée Number of preferred attributes,practices and heterogeneity
Kast, Robert CNRS Welfare economics and Political Risk:A Public Decision Procedure
Political Economy (CHAIR: Falconieri, Sonia)
Aragones, Enriqueta Universitat Pompeu Fabra Campaign Rhetoric: a model ofreputation
Hauk, Esther Univeristat Pompeu Fabra Economic Integration and Corruption:"The Corrupt Soul of the EuropeanUnion”
Rosselló, Joan Universitat Illes Balears Non-Institutional Federalism
Falconieri, Sonia University of Amsterdam and The Impact of Lobbying on theEnte Einaudi Allocation of Political Authority
Saturday, November 4, 2000, 10:30 – 12:15
Financial Markets (CHAIR: Páscoa, Mário)
Carceles Poveda, Eva Universitat Pompeu Fabra Asset Prices and Business CyclesUnder Market Incompleteness
Gaffeo, Edoardo University of Udine Financial Market Imperfections,Heterogeneity and Growth
Stahn, Hubert University of Strasburg Sunspots and Incomplete FinancialMarkets: A Numeraire Asset Approach
Páscoa, Mário Universidade Nova de Lisboa Arbitrage, Equilibrium and Collateral
Growth II (CHAIR: Romero, Laura)
Brito, Paulo Universidade Técnica de Lisboa Spatial heterogeneity and growth
Alvarez-Pelaez, Maria Jose Universidad de Malaga y Too little or too much R&D?Universidad de Alicante
Romero, Laura Universitat Autónoma de Barcelona Education Financing and IncomeInequality when Ability is Inherited
Social Choice I (CHAIR: Koray, Semih)
Bevia, Carmen Universitat Autonoma de Barcelona Self-Selection Consistent choices
Ahmet, Alkan Sabanci University Discrete Revealed Preference andLattice of Stable MultipartnerMatchings
Koray, Semih Bilkent University A Characterization of OligarchicChoice Rules
Industrial Organization III (CHAIR: Santos Ferreira, Rodolphe dos)
Pereira, Pedro University Complutense de Madrid Electronic Commerce, ConsumerSearch and Cost Reduction
Camacho-Cuena, Eva Universitat Jaume I Optimal Retailing in a VerticallyDifferentiated Market
Santos Ferreira, Rodolphe dos University of Strasburg Competition for market shares or formarket
Labour Economics II (CHAIR: Alvarez, Begoña)
Vuri, Daniela European University Institute Fertility and Divorce
Messina-Granovsky, Julian European University Institute The Role of Product MarketRegulations in the Processof Structural Change
Alvarez, Begoña Universidade de Vigo Can we identify fraudulent behaviour?An application to sickness absencesin Spain
Monetary Economics I (CHAIR: Boinet, Virginie)
White, Lucy Universite de Toulouse Inflation Uncertainty and the WageBargain
Pereira Adão, Bernardino Bank of Portugal Gaps and Triangles
Boinet, Virginie CEDERS-Université d'Aix-Marseille Contagion and Coordination in amodel of Currency Crises
Resource Economics II (CHAIR: Pintassilgo, Pedro)
Nunes, Paulo Free University of Amsterdam Measuring Warm Glow in ContingentValuation
Murillas, Arantza Universidad del País Vasco Sole Ownership and Common Propertyunder Management Flexibility:Optimal Exploitation and Regulation
Roseta Palma, Catarina Universidade Nova de Lisboa Joint Quantity/Quality Management ofGroundwater
Pintassilgo, Pedro Universidade Nova de Lisboa The Stability Problem in theManagement of Renewable Resources
Saturday, November 4, 2000, 16:00 – 17:45
Finance II (CHAIR: Fabbri, Daniela)
Cespa, Giovanni Universitat Pompeu Fabra Inventory Effects and TradingHorizons
Cabral, Ines European University Institute A herding approach to merger waves
Sciubba, Emanuela Erasmus University Relative Performance and Herding inFinancial Markets
Fabbri, Daniela Universitat Pompeu Fabra The Legal Enforcement of CreditContracts and the Level of Investment
Game Theory II (CHAIR: Haeringer, Guillaume)
Giamarchi, Marie-Paule GREQAM-Université de la Tournaments and capacity signals withMediterranée heterogeneous agents
Asan, Goksel Istanbul Bilgi University Coalition Structural Games and theVoluntary Provision of Public Goods
Uriarte, Jose Ramon University of the Basque Country Social Evolution
Haeringer, Guillaume Universitat Autonoma de Barcelona Stable Hedonic Cooperation Structures
Social Choice II (CHAIR: Barberá, Salvador)
Kara, Ayca Bogazici University Selecting A Social Choice Rule – AnExploratory Panel Study
Rodríguez, Carmelo Universitat Autónoma de Barcelona Candidate Stability and MultivaluedVoting Procedures
Barberá, Salvador Universitat Autónoma de Barcelona Choosing how to Choose: Self-StableMajority Rules
Industrial Organization IV (CHAIR: Claici, Adina Oana)
Sandonís, Joel Universidad del País Vasco To merge or to license: implicationsfor competition policy
Mumcu-Serdar, Ayse Bogazici University Firm Specific Skills, Wage Bargainingand Efficiency
Corchon, Luis University Carlos III of Madrid To Merge or not to Merge
Claici, Adina Oana Universitat Autónoma de Barcelona Privatization Strategies and the Accessto the International Debt Market
International Economics (CHAIR: Antunes, António)
Dimelis, Sophia Athens University of Economics Productivity advantages and spillovers:The role of FDI and financialConstraint
Cabral, Celia Universidade Nova de Lisboa The Role of Commitment and theChoice of Trade
García-Gallego, Aurora Universitat Jaume I International Mergers vs. ForeignDirect Investment
Antunes, António Universidade Nova de Lisboa Trade, Imported Technology andGrowth: Ideas for a Small Country
Monetary Economics II (CHAIR: Sessa, Luca)
Pappa, Paraskevi Universitat Pompeu Fabra Optimal Monetary Policy in a Two-Country World
Cuadras-Morató, Xavier Universitat Pompeu Fabra Fiat Money, Intrinsic Properties andGovernment Transaction
Sessa, Luca Universitat Pompeu Fabra Can Money Help Generate LocalIndeterminacy?
Health Economics (CHAIR: Machado, Matilde)
Street, Andrew University of York Econometric issues in relativeperformance evaluation of publicorganisations: a case study of theEnglish hospital sector
Xavier, Ana University of York Waiting times for elective surgery:designing the optimal contract forhospital specialists
Mestre-Ferrandiz, Jorge Universitat Autónoma de Barcelona The Effect of Implementing aReference Price System in thePharmaceutical Industry
Machado, Matilde Univ. Carlos III de Madrid Measuring the Relative Performance ofProviders of a Health Service
Panels
Friday, November 3, 2000, 11:30 – 13:00
Post Graduate Education in Economics in Europe
José António Girão (Chair) Universidade Nova de Lisboa
Salvador Barberá Universitat Autónoma de Barcelona
Alain Kirman Universities of Aix-Marseille II and III
Tryphon Kollintzas Athens University of Economics and Business,CEPR and IMOP
Diogo Lucena Universidade Nova de Lisboa
Saturday, November 4, 2000, 14:00 – 15:30
Water Management in Southern Europe
Maria Antonieta Cunha-e-Sá (Chair) Universidade Nova de Lisboa
James Boyd Resources for the Future
Santiago Rubio University of Valencia
Pedro Serra Portuguese Water Regulator Institute
Anastasios Xepapadeas University of Crete
Localization
Acknowledgements
We gratefully acknowledge financial support by our sponsors (see first page).