This seminar is joint with Bristol University and Warwick will be hosting today's event.

Title : Bounded Rationality, Complexity and Optimal Incentives (joint with David Huffman and Collin Raymond)
The abstract is:
This paper provides empirical support for the importance of contract complexity, and heterogeneity in worker bounded rationality, for understanding optimal incentives. Specifically, the paper shows that an important aspect of a workplace incentive scheme – dynamic incentives in the form of the so-called ratchet effect – can be a shrouded attribute that some workers neglect due to complexity. In field experiments within a firm, and in online experiments with real effort tasks, many workers make choices consistent with being unaware of dynamic incentives. Changing the contract to make the dynamic incentives more transparent, or looking at the sub-sample of workers with high cognitive ability, a response to dynamic incentives emerges. The results have several implications: a potential optimal degree of complexity; heterogeneous effects of incentives depending on worker cognitive ability; framing and structure of incentives may matter through the channel of complexity; incentive effects may change over time if learning reduces complexity; firms may want to tailor incentives to the cognitive sophistication of their particular workforce.

Title to be advised.

Organiser (2021-22): Dr Subhasish Dey

The title of talk is Moodle Design and Editing 2021/22

This seminar is via MS Teams

Title of paper to be advised.

This seminar is via Zoom, details to follow.

Léo Czajka (UCLouvain): Inequality, redistribution, and growth: Evidence from South Africa, 1993-2019

Zoom Link: https://monash.zoom.us/j/81709269937?pwd=Qkh6b0ZPYW9NZGtOd0pOSGFHMEhYdz09

Joseba will be visiting the department for this Seminar, Federico Rossi is hosting this visit.

Title Automation Potential and Diffusion

Abstract: We introduce a novel methodology to measure the invention and diffusion of labor-replacing technology in the US economy. First, we measure the relevance of US patents introduced from 1920-2018 to work tasks performed by human workers using a natural language processing algorithm. After controlling for the confounding effects of the evolution of language, we obtain a measure that we call the \textit{automation potential} of newly introduced technology: the potential for that technology to eventually replace human workers in the performance of tasks. In a local projections framework, we estimate the impulse response of task hours worked to an automation potential shock and find negative effects, especially at longer horizons, suggesting i) that our measure captures the development of labor-replacing technology, and ii) that such technology diffuses gradually into the economy.

Title to be advised.

Seminar organisers: Manuel Bagues & Ludovica Gazze

Title: Stochastic Impatience and the Separation of Time and Risk Preferences

Title: "Idiosyncratic Risk and the Equity Premium" (with H. Zhou)

This seminar is via Zoom, details to follow.

Ahmed Saade (King's College London)
Aoife Horan (UCL)
Eman Abdulla (Warwick)
Stefano Cellini (Surrey)

To attend on Zoom register here or follow us livestream on YouTube

Organiser: Stefania Paredes Fuentes

Fuller details on DR@W Forum https://warwick.ac.uk/research/priorities/behaviour-brain-society/draw/forum/

This seminar is joint with Bristol University and will be hosting today's event.

Title to be advised.

Seminar organisers: Manuel Bagues & Ludovica Gazze

Title of paper: Market-Based Mechanisms (with Francisco Poggi)

Organiser: Dr Subhasish Dey

NSS based study is the title of the talk.

1-1:30pm - Steve Proud
1:30-2pm - Guglielmo Volpe.

The seminar will take place on MS Teams

Sarah Auster (University of Bonn)

Title, "Dynamic Information Acquisition under Ambiguity" (with Yeon-Koo Che and Konrad Mierendorff)

This seminar is via Zoom

Title: Experience of social mobility and support for redistribution: Beating the odds or blaming the system?

This is via Zoom link: https://monash.zoom.us/j/84025020086?pwd=QnVmalZPR3ZmWWxiZVdyN1k2NWxKUT09

The POLECON webinar takes place on the first Wednesday of every month at 3 pm (UK time).

This series of webinars is organised by the CEPR Political Economy Group together with the Research and Policy Network on Populism and Research and Policy Network on Conflict. REGISTER

Steven Callander (Stanford University) will present a paper titled: Market Competition and Political Influence: An Integrated Approach.
The paper is co-authored with Dana Foarta (Stanford University) and Takuo Sugaya (Stanford University).
The session will be moderated by Helios Herrera (University of Warick and CEPR).

Title: Shaking Legitimacy: The Impact of Earthquakes on Conflict in Historical China

Organisers: Bishnupriya Gupta & Claudia Rei

Title to be advised.

Seminar organisers: Manuel Bagues & Ludovica Gazze

George Lukyanov (Ecole Polytechnique), "Reputation for Learning with Moral Hazard" (with Stepan Svistunov and Anna Vlasova) (slides)

Join Zoom Meeting
https://us02web.zoom.us/j/84672587838?pwd=T2MraE5MNWFsYi8rUzNlUVkwRUwrZz09

Meeting ID: 846 7258 7838 Passcode: SET2021

This seminar is joint with Bristol University and Warwick will be hosting today's event.

Title to be advised.

Seminar organisers: Manuel Bagues & Ludovica Gazze

Title to be advised.

Title of paper to be advised.

This seminar is via Zoom, details to follow.

Raffaele will be visiting the department for this Seminar - Roberto Pancrazi will be hosting this visit.

Title: Marginal Tax Rate Changes in the Long-Run: Evidence from a Structural Estimation, With Patrick Macnamara (U. of Manchester) and Myroslav Pidkuyko (Bank of Spain).

Abstract: Using a structural life-cycle model, we estimate the long-run behavioral response to marginal tax rate changes along the income distribution. We find statistically significant long-run tax elasticities of income of around 0.7 for all taxpayers. We also estimate that the richest top 1 percent displays the highest elasticities of taxable income. In our economy, agents who are sufficiently productive can obtain higher returns on their wealth by choosing to be entrepreneurs. Return heterogeneity, in combination with earning risk and tax progressivity, increases the incentives to save and invest for the richest, high-return entrepreneurs, thus amplifying their income responses to marginal tax changes. This reallocation of capital increases aggregate productivity, generating a larger boost in equilibrium wages. This, in turn, strengthens the income response of the bottom 90 percent, but nevertheless, their response is smaller than at the top.

Shari will present the paper titled

Do Youth Employment Programs Work? Evidence from the New Deal

Abstract: We study the Civilian Conservation Corps (CCC) – the first and largest youth training program in
the U.S. in operation between 1933 and 1942 – to provide the first comprehensive assessment of
the short- and long-term effects of means-tested youth employment programs. We use digitized
enrollee records from the CCC program in Colorado and New Mexico and matched these records
to the 1940 Census, WWII enlistment records, Social Security Administration records, and death
certificates. We find that enrollees who spent more time in CCC training grew taller, lived longer
lives and had higher lifetime earnings as a result of their participation in the program. We also
find modest increases in the educational attainment of the participants and increases in short term
geographic mobility. In contrast, we find no evidence that their labor force participation or wages
increased in the short run. To assess the internal and external validity of the results, we compare
our estimates to those derived from a randomized evaluation of Job Corps, the modern version of
the CCC, conducted in the 1990s. The RCT’s results show that our empirical strategy delivers
estimates that are in line with the experimental estimates. Overall, we find significant long-term
benefits in both longevity and earnings, suggesting short and medium-term evaluations
underestimate the returns of training programs, as do those that fail to consider effects on
longevity.

Organisers: Bishnupriya Gupta & Claudia Rei

Title to be advised.

Seminar organisers: Manuel Bagues & Ludovica Gazze

Title to be advised.