- NOeG-l - Wirtschaftsuniversität Wien

WU Economics Research Seminar, 24.4.2024, 4.30 pm to 6 pm, Lena Bjerkander (FAU Erlangen-Nürnberg)
by Oberhofer, Harald 16 Apr '24

16 Apr '24

Dear colleagues, The Department of Economics cordially invites you to the WU Economics Research Seminar on Wednesday, April 24th, with Lena Bjerkander (FAU Erlangen-Nürnberg) on "The importance of ECB speeches and their complexity as monetary policy instruments" Abstract: Using the timing and content of speeches by presidents of the European Central Bank (ECB), I investigate the importance of speeches as a measure of high-frequency monetary policy shocks. In particular, I examine financial markets movements in tight windows around speeches and compare them to price changes around press statements and conferences on regular ECB monetary policy meeting days. Additionally, I consider the role of linguistic complexity of speeches and regular communication for the size of announcement effects on financial markets. The findings show that monetary policy shocks around speeches are similar in size to those around regular meeting days emphasizing the significance of speeches as monetary policy instruments. Date: Wednesday, April 24th Time: 4.30 to 6 pm (CET) Location: building D4, ground floor, room D4.0.019<https://campus.wu.ac.at/?q=D4.0.019> With best regards, Harald Oberhofer --- Univ.-Prof. Dr. Harald Oberhofer Department of Economics WU Vienna University of Economics and Business Phone: +43/1/31336-4984 Email: harald.oberhofer(a)wu.ac.at<mailto:harald.oberhofer@wu.ac.at> Webpage: https://www.wu.ac.at/ie/mitarbeiter/harald-oberhofer/ Austrian Institute of Economic Research (WIFO) Phone: +43/1/7982601-468 Email: harald.oberhofer(a)wifo.ac.at<mailto:harald.oberhofer@wifo.ac.at> Webpage: http://www.wifo.ac.at/harald_oberhofer

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Kundenservice
by Bitpanda 16 Apr '24

16 Apr '24

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Stephen Jenkins (LSE) - INEQ Research Seminar WU Vienna; April 22; 3.00 pm
by Disslbacher, Franziska 15 Apr '24

15 Apr '24

Dear colleagues, we hereby invite you to the next INEQ - Economics of Inequality Research Seminar.<https://www.wu.ac.at/en/ineq/outreach/ineq-research-seminar> Stephen Jenkins<https://www.lse.ac.uk/social-policy/people/academic-staff/Professor-Stephen…> (LSE) will present the paper Have Recent Changes in UK Income Inequality been Significant? on Monday, April 22; 3.00 p.m. at the INEQ Institute (D3.0.259, WU Vienna University of Economics and Business). Abstract It has long been known that conventional approaches to finite sample inference for inequality measures based on asymptotic methods or the standard bootstrap do not perform well, even in large samples. See, e.g., Davidson and Flachaire (Journal of Econometrics, 2007) and Cowell and Flachaire (Journal of Econometrics, 2007). The source of the problem is the heavy-tailed nature of income distributions, with a relatively high prevalence of influential high-income outliers in datasets. Can researchers do better? The answer is yes, in principle. Davidson and Flachaire (DF, 2007) and Cowell and Flachaire (CF, 2007) propose inference based on a semi-parametric percentile-t bootstrap in which the upper tail is modelled parametrically by a Pareto distribution, and show using simulated data that accurate inference is achievable with moderately large samples. (For a related approach, see also Alfons et al., JRSS(A) 2011.) In this paper, we provide the first systematic application of the DF-CF inferential approach to real-world income data for multiple years (yearly, 1977-2018), i.e., the same survey data as used by the UK Office for National Statistics for official statistics on inequality. As part of this work, we extend the DF-CF approach to deal with weighted data and a range of inequality indices (Gini, Generalised Entropy family, percentile ratios, and top income shares). We confirm that inequality indices are more precisely estimated using the DF-CF approach rather than the conventional asymptotic approach. But according to our DF-CF estimates, we cannot reject the null hypothesis of no inequality difference between most pairs of years over the period 1977-2018 at conventional levels of statistical significance. Please register your participation here<https://www.wu.ac.at/en/ineq/rs-registration-jenkins>. Best regards, Franziska Disslbacher, Emanuel List and Jan Gromadzki ---- Franziska Disslbacher, PhD Assistant Professor Research Institute Economics of Inequality & Department Socio-Economics +43 1 313 36 6669 franziska.disslbacher(a)wu.ac.at<mailto:franziska.disslbacher@wu.ac.at> franziskadisslbacher.com<http://franziskadisslbacher.com/> WU, Vienna University of Economics and Business Welthandelsplatz 1, 1020 Vienna, Austria Building D3, D3 0.251

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FW: Theory & Policy Seminar / Timo Trimborn (Aarhus University) / Economic Growth and Climate Change: Converging towards a Continuum of Steady States
by Hutter, Julia 11 Apr '24

11 Apr '24

Dear all, I’ve accidentally mixed up the abstracts of two talks. Here is the correct abstract for Monday’s talk of Timo Trimborn: To gain insights into the mechanisms that shape the interaction between economic growth and climate change, we analyze the simplified DICE through the lens of growth theory. It is shown analytically that this model exhibits a continuum of steady states. This novel insight is important for two reasons. a) Initial conditions of stock variables, which are notoriously difficult to calibrate, matter for the ultimate steady state (temperature, damages). However, we also show that uncertainty about the stock of global capital is considerably less consequential than uncertainty about GHG in the atmosphere. b) Shocks that occur along the transition, e.g. volcanic eruptions or a pandemic drop of CO2 emissions, exert permanent effects. These properties have important implications for understanding the effect of delayed climate policy and the consequences of TFP growth for long-run temperature. It is shown how a postponement of climate policy implementation leads to a higher long-run temperature and why stronger future TFP growth may in fact be a good thing for the climate. We also investigate analytically the stability properties of the steady states by calculating the eigenvalues. Best, Julia Hutter From: Hutter, Julia Sent: Thursday, April 11, 2024 8:26 AM To: 'econ-seminar(a)list.tuwien.ac.at' <econ-seminar(a)list.tuwien.ac.at<mailto:econ-seminar@list.tuwien.ac.at>> Subject: Theory & Policy Seminar / Timo Trimborn (Aarhus University) / Economic Growth and Climate Change: Converging towards a Continuum of Steady States Dear all, we kindly invite you to our next ECON Theory and Policy Seminar talk on Monday, April 15, 2024 from 4:00-5:30 pm (Seminarroom DA green 04, Freihaus Buidling, green area, 4th floor) Timo Trimborn (Aarhus University) https://www.au.dk/en/tt@econ.au.dk "Economic Growth and Climate Change: Converging towards a Continuum of Steady States" (with Thomas Steger (University of Leipzig)) To gain insights into the mechanisms that shape the interaction between economic growth and climate change, we analyze the simplified DICE through the lens of growth theory. It is shown analytically that this model exhibits a continuum of steady states. This novel insight is important for two reasons. a) Initial conditions of stock variables, which are notoriously difficult to calibrate, matter for the ultimate steady state (temperature, damages). However, we also show that uncertainty about the stock of global capital is considerably less consequential than uncertainty about GHG in the atmosphere. b) Shocks that occur along the transition, e.g. volcanic eruptions or a pandemic drop of CO2 emissions, exert permanent effects. These properties have important implications for understanding the effect of delayed climate policy and the consequences of TFP growth for long-run temperature. It is shown how a postponement of climate policy implementation leads to a higher long-run temperature and why stronger future TFP growth may in fact be a good thing for the climate. We also investigate analytically the stability properties of the steady states by calculating the eigenvalues. We test whether firm-specific demand shocks impact wages, and disentangle predictions coming from wage bargaining and wage posting. We use a unique institutional feature of public procurement auctions in Brazil: the moment in which the auction ends is random. For close auctions, winner and runner-up are as good as randomly assigned. In addition, contract value is higher for auctions that (randomly) end earlier. Winning a contract increases wages. We disentangle the effect on wages that comes from changes in firm size (wage posting) and the part that comes from changes in contract value (bargaining). We find evidence consistent with bargaining. Further Events: https://www.tuwien.at/en/mg/econ/events Best, Julia Hutter for Alexia Fuernkranz-Prskawetz Julia Hutter TU Wien Institute of Statistics and Mathematical Methods in Economics Research Group Economics Phone: +43 1 58801 10531 Mail: :julia.hutter@tuwien.ac.at<mailto:julia.hutter@tuwien.ac.at> https://econ.tuwien.ac.at/

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Theory & Policy Seminar / Timo Trimborn (Aarhus University) / Economic Growth and Climate Change: Converging towards a Continuum of Steady States
by Hutter, Julia 11 Apr '24

11 Apr '24

Dear all, we kindly invite you to our next ECON Theory and Policy Seminar talk on Monday, April 15, 2024 from 4:00-5:30 pm (Seminarroom DA green 04, Freihaus Buidling, green area, 4th floor) Timo Trimborn (Aarhus University) https://www.au.dk/en/tt@econ.au.dk "Economic Growth and Climate Change: Converging towards a Continuum of Steady States" (with Thomas Steger (University of Leipzig)) To gain insights into the mechanisms that shape the interaction between economic growth and climate change, we analyze the simplified DICE through the lens of growth theory. It is shown analytically that this model exhibits a continuum of steady states. This novel insight is important for two reasons. a) Initial conditions of stock variables, which are notoriously difficult to calibrate, matter for the ultimate steady state (temperature, damages). However, we also show that uncertainty about the stock of global capital is considerably less consequential than uncertainty about GHG in the atmosphere. b) Shocks that occur along the transition, e.g. volcanic eruptions or a pandemic drop of CO2 emissions, exert permanent effects. These properties have important implications for understanding the effect of delayed climate policy and the consequences of TFP growth for long-run temperature. It is shown how a postponement of climate policy implementation leads to a higher long-run temperature and why stronger future TFP growth may in fact be a good thing for the climate. We also investigate analytically the stability properties of the steady states by calculating the eigenvalues. We test whether firm-specific demand shocks impact wages, and disentangle predictions coming from wage bargaining and wage posting. We use a unique institutional feature of public procurement auctions in Brazil: the moment in which the auction ends is random. For close auctions, winner and runner-up are as good as randomly assigned. In addition, contract value is higher for auctions that (randomly) end earlier. Winning a contract increases wages. We disentangle the effect on wages that comes from changes in firm size (wage posting) and the part that comes from changes in contract value (bargaining). We find evidence consistent with bargaining. Further Events: https://www.tuwien.at/en/mg/econ/events Best, Julia Hutter for Alexia Fuernkranz-Prskawetz Julia Hutter TU Wien Institute of Statistics and Mathematical Methods in Economics Research Group Economics Phone: +43 1 58801 10531 Mail: :julia.hutter@tuwien.ac.at<mailto:julia.hutter@tuwien.ac.at> https://econ.tuwien.ac.at/

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Ausschreibung / Call for Papers: NOeG Dissertation Fellowships 2024
by Michael Getzner (Generalsekretär) 10 Apr '24

10 Apr '24

Dear colleagues, the NOeG - Austrian Economic Association - invites submissions to the 2024 Dissertation Fellowship. For details, please see the attached call for submissions. We would be glad if you could pass this invitation also to potentially interested young scholars working on their Ph.D. dissertation. Thanks and best regards Alexia Fürnkranz-Prskawetz (President of NOeG) Michael Getzner (General Secretary)

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Reminder: WIC Colloquium Thu, 11 April: Dariya Ordanovich and Diego Ramiro-Fariñas - Exploring the long-term effects of temperature on population health in Spain using individual mortality data.
by Simunics, Barbara 09 Apr '24

09 Apr '24

WIC Hybrid Colloquium ***************************** Dariya Ordanovich and Diego Ramiro-Fariñas Spanish National Research Council Exploring the long-term effects of temperature on population health in Spain using individual mortality data. Thursday, 11 April 2024 15:00 – 16:00 (CEST) (save to your calendar - .ics-file<https://www.oeaw.ac.at/fileadmin/subsites/Institute/VID/ICAL-files/Colloqui…>) The hybrid seminar will be held in person at Austrian Academy of Sciences, Dr.-Ignaz-Seipel-Platz 2, 1010 Vienna, Museumszimmer (stair 1, 2nd floor) and online via Zoom. Please register here: https://www.oeaw.ac.at/vid/events/wic-colloquium/wic-colloquium-registration <https://www.oeaw.ac.at/vid/events/wic-colloquium/wic-colloquium-registration> Login information for online participation will be sent to all registered participants shortly before the start of the presentation. Abstract: In this presentation, we delve into a comprehensive analysis of temperature's enduring influence on population health, drawing insights from extensive retrospective analyses of mortality data across different administrative levels in Spain. Firstly, we explore the intricate relationship between temperature and mortality, dissecting cause-specific mortality data to unveil the effects of heat and cold on the residents of Madrid over the past century. By focusing on a single city, we uncover localized trends and patterns that provide valuable insights into the broader dynamics of temperature-related health impacts. Furthermore, our analysis extends beyond typical temperature variations to scrutinize the risks posed by extreme events such as heatwaves and cold snaps. By examining mortality trends during these episodes, we gain a deeper understanding of the added effects of extreme temperatures on population health throughout Spain. About the presenter: Dariya Ordanovich holds a PhD in Geography and studied heat waves' impact on Spanish population health. She explores population-environment dynamics amidst climate change. At CSIC, she contributed to several research projects. Since 2024, she is a team member of the SIESTA-INFRA project Secure Interactive Environments for SensiTive data Analytics. Dr. Diego Ramiro-Fariñas, Director of the Institute of Economics, Geography and Demography and Full Professor of Demography at the Spanish National Research Council. He is a former president of the Iberian Association of Historical Demography, chaired the Historical Demography Panel at IUSSP, and serves on various editorial boards of prestigious demographic journals. https://www.oeaw.ac.at/fileadmin/subsites/Institute/VID/PDF/Colloquium/2024… *************************************************************************************************** PLEASE SEE https://www.oeaw.ac.at/vid/events/wic-colloquium FOR OUR UPCOMING AND PREVIOUS COLLOQUIA ***************************************************************************************************

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WU Economics Research Seminar, 17.4.2024, 4.30 pm to 6 pm, Galina Zudenkova (TU Dortmund)
by Oberhofer, Harald 09 Apr '24

09 Apr '24

Dear colleagues, The Department of Economics cordially invites you to the WU Economics Research Seminar on Wednesday, April 17th, with Galina Zudenkova (TU Dortmund) on "Information and Communication Technologies, Protests, and Censorship" Abstract: : We develop a theory of information flows and protests when citizens use information and communication technologies (ICTs) for protest coordination. Governments can respond by restricting access to ICTs used for coordination. We find that introduction of communication technologies lowers the probability of government survival, but this effect is weaker in economies that do not use ICTs for production. We also expect intermediate-competent governments to use censorship, though this effect is weaker in economies that use ICTs extensively. Some high-frequency empirical evidence is consistent with our predictions. Date: Wednesday, April 17th Time: 4.30 to 6 pm (CET) Location: building D4, ground floor, room D4.0.019<https://campus.wu.ac.at/?q=D4.0.019> With best regards, Harald Oberhofer --- Univ.-Prof. Dr. Harald Oberhofer Department of Economics WU Vienna University of Economics and Business Phone: +43/1/31336-4984 Email: harald.oberhofer(a)wu.ac.at<mailto:harald.oberhofer@wu.ac.at> Webpage: https://www.wu.ac.at/ie/mitarbeiter/harald-oberhofer/ Austrian Institute of Economic Research (WIFO) Phone: +43/1/7982601-468 Email: harald.oberhofer(a)wifo.ac.at<mailto:harald.oberhofer@wifo.ac.at> Webpage: http://www.wifo.ac.at/harald_oberhofer

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[INEQ Research Seminar] April 11, Isabel Martinez: Earnings Responses to Sudden Wealth: Inheritance, Inter-Vivos Gifts, and Lotteries
by Disslbacher, Franziska 05 Apr '24

05 Apr '24

Dear colleagues, we hereby invite you to the next INEQ - Economics of Inequality Research Seminar.<https://www.wu.ac.at/en/ineq/outreach/ineq-research-seminar> Isabel Z. Martinez<https://sites.google.com/view/isabelzmartinez/home> (KOF/ETH) will present her paper Earnings Responses to Sudden Wealth: Inheritance, Inter-Vivos Gifts, and Lotteries on Thursday, April 11; 3.00 p.m. at the INEQ Institute (D3.0.259, WU Vienna University of Economics and Business). Abstract We study individual earnings responses to positive wealth shocks from inheritance, inter-vivos gifts, and lotteries. In a life-cycle model we show how responses may differ across the three types of shocks because they occur at different ages. In addition, gifts tend to be targeted, and socio-psychological circumstances differ between the different shocks. We explore these differences in a panel of tax records for a large Swiss canton. We find consistently negative earnings responses, irrespective of the source of the wealth shock. The strongest responses are found for older workers – partly through early retirement –, and for women. Conditional on age, inheritance triggers weaker earnings responses than lottery winnings. Gifts are associated with the strongest reductions in subsequent earnings. However, strong pre-trends confirm them to be targeted and do not allow us to quantify the causal effect of inter-vivos giving. For instrumented gifts, however, no statistically significant earnings response is observed. This suggests that, when abstracting from targeting, behavioral effects mitigate labor supply reductions of donees. Please register your participation here<https://www.wu.ac.at/en/ineq/outreach/ineq-research-seminar>. Best regards, Franziska Disslbacher, Emanuel List and Jan Gromadzki ---- Franziska Disslbacher, PhD Assistant Professor Research Institute Economics of Inequality & Department Socio-Economics +43 1 313 36 6669 franziska.disslbacher(a)wu.ac.at<mailto:franziska.disslbacher@wu.ac.at> franziskadisslbacher.com<http://franziskadisslbacher.com> WU, Vienna University of Economics and Business Welthandelsplatz 1, 1020 Vienna, Austria Building D3, D3 0.251

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IC Colloquium Thu, 11 April: Dariya Ordanovich and Diego Ramiro-Fariñas - Exploring the long-term effects of temperature on population health in Spain using individual mortality data.
by WIC Colloquium 04 Apr '24

04 Apr '24

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