VIENNA JOINT ECONOMICS SEMINAR	INVITATION
Reminder: The University of Vienna and the Institute for Advanced Studies cordially invite you to the following Vienna Joint Economics Seminar Thursday, October 6, 2016 University of Vienna, Oskar-Morgenstern-Platz 1, 1090 Vienna, Skylounge, 12th floor 4:00 pm Mathias Trabant and    Manuel Bagues FU Berlin Aalto University Fiscal Multipliers in a nonlinear world (Mathias Trabant) Previous work has shown that, in a liquidity trap, aggressive government spending cuts can be self-defeating in the short-run due to a higher-than-normal multiplier. A potentially serious drawback of the existing literature is the use of linearized models. Recently, Braun, Koerber and Waki (2012) and others claim that in a liquidity trap, a model can behave qualitatively different depending on whether it has been linearized or not. We examine their claim with a focus on whether fiscal austerity can be self-defeating - i.e. austerity causes government debt to rise due to adverse effects on aggregate demand. Specifically, we compare the government debt and output effects due to changes in fiscal spending in linearized and nonlinear general equilibrium models. We start with a variant of the simple benchmark model in Woodford (2003), which allows us to carefully parse out the differences between the linear and nonlinear solutions. Finally, we examine the robustness of our results in the workhorse model of Christiano, Eichenbaum and Evans (2005) augmented with a financial accelerator mechanism. paper jointly with Jesper Linde and Can gender quotas empower women? Evidence from a regression discontinuity design (Manuel Bagues) We estimate the short- and mid-term effect of legislated candidate gender quotas on voting behavior, women's access to leadership positions, and local public finances. We use evidence from Spain, where gender quotas were introduced in 2007 in municipalities with more than 5,000 inhabitants, and in 2011 in municipalities with more than 3,000 inhabitants. Using a Regression Discontinuity Design, we find that gender quotas raise the share female councillors by 4 p.p. (13%). However, within three rounds of elections, women fail to reach powerful positions such as party leader or mayor. Furthermore, we do not find evidence of an impact of gender quotas on voting behavior or on the size and composition of public finances. Overall, our analysis suggests that quotas fail to remove the barriers that prevent women from achieving top political positions. paper jointly with Pamela Campa We are looking forward to seeing you! Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna, Austria Tel.: +43 1 599 91 232 e-Mail: economics@ihs.ac.at http://www.ihs.ac.at		LINKS DIRECTIONS TO UNIVERSITY OF VIENNA on Google maps VIENNA JOINT ECONOMICS SEMINAR on Google calendar ECONOMICS SEMINARS IN VIENNA on Google calendar Institute for Advanced Studies @IHS_Vienna
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