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    Archived pages: 538 . Archive date: 2014-01.

  • Title: GSE Scientific Council Holds First Official Meeting - Barcelona GSE
    Descriptive info: FAQ.. News.. Events.. Home.. News54.. Admissions.. Student Resources.. News & Media.. 03/03/2008.. GSE Scientific Council Discusses Institutional Strategy at First Official Meeting.. of the Barcelona GSE convened for the first time in Barcelona on March 1st, uniting prominent academics from all parts of the world to form a plan of excellence for the school.. The GSE Scientific Council is composed of 33 top scholars, including 10 Nobel Laureates, who advise on the academic strategy of the School.. Nearly two-thirds of the members were able to attend the meeting, representing top levels of leadership from the world s premiere universities and research institutions.. Over the course of the day-long meeting, the Council met with members of the GSE community to discuss the progress the school has made in the past year, collaborate on matters of institutional strategy, and formulate an optimal trajectory to achieve the school s full potential.. The meeting presented the opportunity to assess the Barcelona GSE s six master programs, two of which will be offered for the first time this coming academic year.. The Council members also provided guidance on the School s two.. reference doctoral programs.. , GPEFM (provided by UPF) and IDEA (provided by UAB).. The meeting also marked the occasion to reveal the.. Barcelona GSE Research Network.. , which encompasses the research carried out by the members of the GSE community.. MIT Professor and Nobel Laureate.. Robert Solow.. noted, The core of the school is the world-class economists who could be in any other center of economics in the world, but have chosen Catalonia, specifically Barcelona, as their base.. Impressions of the meeting s utility were very positive.. Council member.. Jacques Drèze.. (Université Catholique de Louvain) described the event as lively and fruitful , pointing out that whenever you get a group of economists together, there is a lot of information shared but not necessarily immediate conclusions drawn.. Nevertheless, the future of the Barcelona GSE holds great potential.. Other Scientific Council members mentioned the global excellence of the school.. Professor Solow said that he was particularly struck by the international character of the school.. Barcelona would like to be a leading center in the world, competitive with the current centers- London, Boston, Chicago, etc.. The school clearly has an excellent grounding  ...   decision to create the school.. Barcelona has become an acknowledged center of economics research, and our goal is to widen and consolidate leadership.. We have the will to make it happen.. Overall, the consensus of the Scientific Council was that the Barcelona GSE is on an excellent trajectory.. Summing up his impression of the School, Professor Robert Solow noted the GSE is turning Barcelona into one of the world s premiere centers of economics study and research.. Its prospects are good and the underlying theory is sound.. With the support of the Board of Directors and the Government of Catalonia, Barcelona will stay where it belongs as one of the best centers of economics research and teaching in the world probably the center with the best climate, and certainly the center with the best architecture.. 2008 GSE Scientific Council Meeting Participants:.. President of the Scientific Council:.. Hugo Sonnenschein, University of Chicago.. Members in Attendance:.. Jürgen Basedow, Max Planck Institute for Comparative and International Private Law and member of the German Monopoly Commission.. Richard Blundell, University College London.. Mathias Dewatripont, Université Libre de Bruxelles.. Jacques Drèze CORE, Université Catholique de Louvain.. Raquel Fernández, New York University.. Bengt Holmstrom, Massachusetts Institute of Technology.. Matthew O.. Jackson, Stanford University.. Timothy Kehoe, University of Minnesota.. Anne Krueger, SAIS, Johns Hopkins University.. Charles F.. Manski, Northwestern University.. José María Maravall, Centro de Estudios Avanzados en Ciencias Sociales.. Juan Pablo Nicolini, Universidad Torcuato di Tella.. Aloisio Pessoa de Araújo, IMPA i Fundaçao Getulio Vargas, Rio de Janeiro.. Edward C.. Prescott, Arizona State University (Nobel Laureate).. John Roberts, Stanford University.. Chris Sims, Princeton University.. Robert M.. Solow, Massachusetts Institute of Technology (Nobel Laureate).. Fabrizio Zilibotti, University of Zurich.. Back.. Members of the Scientific Council pose for a group photo in the Barcelona GSE central office.. Andreu Mas-Colell (Chairman, Barcelona GSE), Robert Solow (Scientific Council), and Salvador Barberà (Director, Barcelona GSE Research Network) participate in the meeting.. Members of the Scientific Council.. The Council collaborates to guide the institutional strategy.. Antoni Castells (Government of Catalonia), Andreu Mas-Colell (Barcelona GSE), and Matthias Dewatripont (Université Libre de Bruxelles) arrive to dinner.. Robert Solow addresses dinner attendees.. Dinner at Palau de Pedralbes.. Board member Joaquim Boixareu, Scientific Council member and Nobel Laureate Edward Prescott and Andreu Mas-Colell.. Contact GSE..

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  • Title: Honorary Doctorates Conferred on GSE Scientific Council Members - Barcelona GSE
    Descriptive info: News55.. 04/03/2008.. GSE Scientific Council Members Honored with Honorary Doctorates at UPF and UAB.. In the past week, GSE Scientific Council Members Robert Solow (MIT) and Jacques Drèze (Université de Louvain) were awarded the title of Doctor Honoris Causa by the UPF and UAB, respectively.. The two renowned scholars were in Barcelona for the March 1st meeting of the GSE s.. , of which they are members.. UPF Ceremony for Robert M.. Solow.. The ceremony for Professor.. took place on Friday, February 29, at the Auditorium at the UPF Ciutadella campus.. Professor Solow, Emeritus Professor at the Massachusetts Institute of Technology (MIT) and Nobel Laureate in Economics (1987), was awarded the degree in recognition of his crucial contributions in a variety of fields of economic science, which have constituted a starting point for modern economic theory of growth, and in recognition of his extensive and at the same time intense academic and intellectual trajectory.. Professor Solow was accompanied by Andreu Mas Colell, Chairman of the Barcelona GSE and UPF Professor, and the laudatio speech was given by Jaume Ventura, Professor at the UPF and GSE and Researcher at CREI.. The ceremony was concluded with a speech by Josep Joan Moreso, Rector of the UPF.. Robert Solow is the UPF s fourth recipient of doctor honoris causa since its foundation in 1990, following in the footsteps of South  ...   and his role in the creation of institutions which promote the internationalization, quality and application of economic research to help solve problems affecting society.. The distinguished professor s promoter in the ceremony was UAB and GSE Professor Salvador Barberà, who described the professor as one of the premiere European economists, going on to say that his research has opened new pathways in a variety of area, for example theory of general equilibrium, game theory, econometrics (in particular with his focus on Bayesian theory), macroeconomics and political economics.. In his acceptance speech, Professor Drèze cited the excellence of the UAB, citing in particular its pioneering role in the establishment of a solid economics foundation in Barcelona.. The ceremony was concluded with a speech by UAB Rector Lluís Ferrer.. Professor Drèze is not the first member of the GSE community to receive an honorary doctorate degree from the UAB.. In 1993, Scientific Council Chairman Hugo Sonnenschein (University of Chicago) was given the title doctor honoris causa by the university.. Scientific Council Member and Nobel Laureate Robert M.. Solow is conferred a doctor honoris causa at the UPF.. Professor Robert Solow at the ceremony.. Université de Louvain Professor Jacques H.. Drèze attends a function of the GSE Scientific Council the weekend before being awarded a doctor honoris causa by the UAB.. Professor Drèze speaks with GSE Board member Joachim Silvestre..

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  • Title: Hugo Sonnenschein Speaks at 12th Barcelona Economics Lecture - Barcelona GSE
    Descriptive info: News53.. 28/02/2008.. GSE Scientific Council Chairman Hugo Sonnenschein Speaks at 12th Barcelona Economics Lecture.. On Wednesday, February 27,.. Hugo Sonnenschein.. gave a talk titled A New Look at Some Issues in International Trade: the Effects of an Increase in Factor Endowments as part of the 12th Barcelona Economics Lecture Series.. The talk took place at the Banc Sabadell, which co-sponsors the lecture series in conjunction with the.. , formerly known as CREA.. It was opened by a short introduction by.. Salvador Barberà.. , Director of the Research Network, who noted Professor Sonnenschein s longtime connection with the Barcelona economics community.. Joan Llonch, Deputy Chairman of Banc Sabadell, also gave a short introduction.. Beginning his talk, Professor Sonnenschein spoke of his longstanding affection for Catalonia, saying that he has watched with the greatest pleasure the development of economics in Barcelona and noting, with the bringing together of the Barcelona economics community behind the Barcelona GSE I am convinced we are witnessing a special moment.. His affiliation with Catalan economists began in the 1960s, when he coincided at the University of Minnesota with graduate students from Catalonia and Spain who were studying there at the time.. Popularly known as los minnesotos , the group includes GSE Chairman.. , Research Network Director Salvador Barberà, Banc Sabadell President Josep Oliu, and many prominent members of the GSE community.. The first part of his talk was dedicated to discussion of simple reductionist models of economic equilibrium and what can be learned from them.. Professor Sonnenschein pointed out that in many cases individual rational choice is a bad intuition for what will happen in  ...   of international trade when there is a home bias in consumption.. In addition to his role as GSE Scientific Council Chairman, Professor Sonnenschein is President Emeritus and Distinguished Service Professor at the University of Chicago, where he served as president from 1993 to 2000.. He is a longtime economist well known for his research in the mathematical structure of market demand functions.. He is a member of the National Academy of Sciences, a fellow of the American Academy of Arts and Sciences, and a member of the American Philosophical Society.. He has served as President of the Econometric Society, Chairman of the Board of Argonne National Laboratories, Director of the National Merit Scholarship Corporation, and Member of the Civic Committee of the City of Chicago.. Professor Sonnenschein is in Barcelona for the occasion of the first official meeting of the.. of the school, which brings together 30 top academics who guide the school academically and help it fulfill its potential.. The Barcelona Economics Lecture Series brings top economist from around the world to speak to the Barcelona GSE community.. Previous lectures have features Jean-Claude Trichet (ECB), Michele Boldrin (Washington University), and Andrei Scheifer (Harvard University and NBER).. The next lecture will take place on April 3rd and will feature Robert Barro (Harvard University).. Brief biography of Hugo Sonnenschein.. (pdf).. From left to right: Banc Sabadell Deputy Chairman Joan Llonch, GSE Research Network Director Salvador Barberà, and Scientific Council Chairman Hugo Sonnenschein.. The panel of speakers at the Barcelona Economics Lecture Series.. Scientific Council Chairman Hugo Sonnenschein.. Audience members at the Barcelona Economics Lecture.. Hugo Sonnenschein shares his latest paper..

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  • Title: Barcelona GSE Affiliated Professor Selected for ERC Starting Grant - Barcelona GSE
    Descriptive info: News52.. 21/02/2008.. Barcelona GSE Affiliated Professor Selected for ERC Starting Grant.. Barcelona GSE Affiliated Professor.. Marta Reynal-Querol.. has been selected to receive a Starting Grant from the European Research Council (ERC).. Her proposal, together with those of about 300 other researchers, was selected from over 9,000 applications spanning all fields of science, engineering and scholarship.. Of the accepted proposals, 24 were from Spain, of which 15 were from researchers working in Catalan centers and universities.. The ERC Starting Grants will allocate a total of 290 million over a period of five years to scientists who lead an independent team or program and who have the potential to develop into world-class researchers.. The grants are designated for young researchers (defined as having received their PhDs within the past two to nine years).. Also selected to receive a grant is incoming Universitat Pompeu Fabra Professor.. Jan Eeckhout.. , currently at the University of Pennsylvania, whose research focuses on applied theory, the game theory and microeconomics.. Another Affiliated Professor of the Barcelona GSE,.. Antoni Calvo-Armengol.. , was in the final round of the selection process before he unexpectedly passed away in November 2007.. Professor Reynal-Querol, who is a Ramon y Cajal Researcher at the UPF as  ...   of social heterogeneity that take into account geographical dispersion and its interaction with political boundaries.. The research project may lead to a new approach to finding measures to succeed in reducing the number, duration and severity of conflicts, challenging the traditional hypothesis that poverty is the main cause of conflict.. From a methodological perspective, Says Reynal-Querol, the project proposes to overcome some statistical pitfalls present in most of the previous literature on the determinants of civil wars and conflicts.. European Research Council.. (ERC) was launched in January 2007 with a seven-year, 7.. 5 billion budget and a mandate to award basic-research grants solely on the judgment of panels of scientific reviewers.. The aim is to create the first large, pan-European competition for basic research, as opposed to the national grant programs by which most academic researchers get funding.. Beginning in July 2009, Barcelona GSE Chairman.. will be Secretary General of the ERC, following the term of Ernst-Ludwig Winnacker, who is currently serving a 2-year term.. Full list of Starting Grant Recipients.. (.. pdf).. Barcelona GSE Affiliated Professor Marta Reynal-Querol.. Incoming UPFProfessor Jan Eeckhout will also receive an ERC Starting Grant.. Barcelona GSE Affiliated Professor Toni Calvo was selected as a finalist for the grant..

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  • Title: ECB President Jean-Claude Trichet Discusses Globalization and Monetary Policy at BE Lecture Series - Barcelona GSE
    Descriptive info: News51.. 15/02/2008.. ECB President Jean-Claude Trichet Discusses Globalization and Monetary Policy at BE Lecture Series.. On Thursday, February 14, European Central Bank President.. Jean-Claude Trichet.. spoke about Globalization and Monetary Policy at the 11th Barcelona Economics Lecture.. In his speech he discussed the consequences of globalization forces for price stability, and the implications and challenges for monetary policy.. He began his talk by thanking the Barcelona GSE for offering the opportunity to speak, noting, The school represents a premiere example of how Europe can successfully benefit from globalization and become of powerhouse of knowledge production and dissemination.. The ECB President then proceeded to discuss the role of globalization in the euro area, asserting that over the last decade the process of globalization has accelerated, with increasing trade integration accompanied by signs of a rapidly growing interdependence of economies also via production and financial market linkages.. Against this backdrop, he said, euro area external trade and flows and stocks of foreign assets and liabilities have been growing strongly.. This has been partly as a result of the increasing role of New EU Member States as trade partners, as well as rapidly increasing imports from Asia, especially China.. While he acknowledged that the recent euro area experience indicates that relative price impacts have been strong over the last decade, he asserts that Overall, while the empirical evidence would lend support to the idea of a favorable relative price shock associated with globalization, there have been recently signals that the disinflationary impact of low-cost countries on euro area import prices might  ...   to maintaining price stability over the medium-term, pinning down trend inflation, he said.. A forward-looking policy stance is thus most appropriate, which closely monitors the ramifications of globalization for inflation, looking through temporary changes, being constantly alert and remaining firmly committed to preventing second round effects.. The ECB President proceeded to answer questions from the audience, composed of over 100 top leaders in business and banking in Catalonia as well as many premiere researchers and academics from the GSE Research Network.. In response to a lighthearted question about whether his messages are at times deliberately misreported by media, Trichet quipped that my words are poetry, and you cannot change a poem.. The Barcelona Economics Lecture is organized by the.. and sponsored by Banc Sabadell.. , Director of the GSE Research Network;.. , Minister of Economics of the Catalan Government;.. , Chairman of the Barcelona GSE; and Josep Oliu, President of Banc Sabadell, sat on the panel and gave short introductions at the beginning of the event.. The next Barcelona Economics Lectures will take place on February 27 at the Banc Sabadell.. It will feature.. , University of Chicago Professor and President of the GSE Scientific Council, who will speak on A General Equilibrium Analysis of Rybczynski s Theorem.. Full transcript.. Annex of charts.. Biography of Trichet.. (doc).. The panel of the Barcelona Economics Lecture Series take their seats.. From left to right: Andreu Mas-Colell (Barcelona GSE/UPF), Antoni Castells (Generalitat de Catalunya), Jean-Claude Trichet (ECB), Josep Oliu (Banc Sabadell), and Salvador Barberà (Barcelona GSE/UAB).. ECB President Jean-Claude Trichet speaks..

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  • Title: Recessions Open Window of Opportunity for Transition to Democracy - Barcelona GSE
    Descriptive info: News50.. 11/02/2008.. Recessions Can Open Window of Opportunity for Democratic Transition.. Sub-Saharan African countries were more likely to make a transition from autocracy to democracy during economic recessions caused by the lack of rain.. This is the key finding of the paper.. Rain and the Democratic Window of Opportunity.. , by Barcelona GSE Affiliated Professor and ICREA UPF Professor.. Antonio Ciccone.. and Markus Brückner of UPF and Universitat de Barcelona.. Recent theoretical work in political economics has argued that democratization should be more likely after recessions as the cost of fighting ruling autocratic regimes is relatively low says Professor Ciccone.. According to our theories, recessions should open a window for citizens to contest power.. But so far there had been no empirical work investigating this hypothesis, mainly because it is difficult to identify recessions that are unrelated to political factors.. What makes Sub-Saharan African countries a natural laboratory to investigate the link between recessions and democratization is that there is a strong link between economic recessions and rainfall levels as most countries in the region depend heavily on agricultural production.. In fact, Professor Ciccone and Markus Brückner found that a 25% drop in rainfall was reduced real income per capita by around 2% relative to trend over the 1980-2004 period.. In addition, while 4 out of 5 Sub-Saharan countries were autocracies in 1980, there were more democracies than  ...   increases the probability of a transition to democracy during the following two years by around 3 percentage points.. The researchers then put the two pieces of the puzzle -- the effect of low rainfall on income per capita and its effect on the probability of a transition from autocracy to democracy -- together.. The result is that a 5% fall in income due to low rainfall raises the probability of democratization by around 7 percentage points.. However, they did not find evidence that recessions affect transitions from democracy to autocracy.. Professor Ciccone concludes that overall, the study provides empirical support for the idea that transitory, negative economic shocks can open a window of opportunity for citizens to put pressure on autocratic rulers.. And, when citizens reject policy changes that are easy to renege upon once the window of opportunity closes, autocratic regimes have no choice but make democratic concessions.. Antonio Ciccone is a macroeconomist who is Affiliated Professor of the Barcelona GSE, where he serves as Program Director of the.. MSc in Economics.. as well as member of the Steering Committee of the.. Msc in International Trade, Finance, and Development.. He is an ICREA Researcher at the Department of Economics and Business of the Universitat Pompeu Fabra and CREI, and is one of the editors of.. The Economic Journal.. GSE Affiliated Professor Antonio Ciccone at the Ciutadella campus..

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  • Title: The Value of an Educated Workforce: A Comparison of Growth and Inequality Across Countries - Barcelona GSE
    Descriptive info: News49.. 04/02/2008.. The Value of an Educated Workforce: What We Learn From a Comparison of Growth and Inequality Across Countries.. Better educated workers earn higher wages.. It is commonly assumed that this so called return to education reflects the fact that more educated workers are more productive at their jobs.. If this is true, and if markets work well, then we would expect the social return to be equal to the private return to education , says Barcelona GSE Affiliated Professor and CREI Researcher.. Thijs van Rens.. , meaning that it must be equally beneficial for a country to raise the average education level of its workforce as it is for an individual worker to obtain a higher level of schooling.. In reality, earlier studies have found evidence of only very small effects of increases in countries education levels on GDP growth.. The literature points to a relationship between education levels and GDP growth across countries, but indicates no effect of changes in education on changes in GDP.. These results have led some researchers to believe that more educated workers might not be more productive at all.. Professor van Rens developed a model to describe the evolution of the private and social return to education and used it to estimate the return to education from cross-country data on growth and inequality.. The results, developed jointly with Coen Teulings (CPB and Tinbergen Institute), are presented in their paper.. Education, Growth, and Income Inequality.. , to appear this February in.. The Review of Economics and Statistics.. The intuition behind the model is very simple, says Professor van Rens: Raising the average education level makes low-skilled workers scarcer, which increases their wages.. At the same time, it increases the supply of highly educated workers, effectively lowering their relative wages.. As a result, the return on education becomes smaller.. This so called  ...   the difference between their wage is still about 14%.. Increasing the average education level of the entire workforce in an average country by one year increases that country s output by about 8% initially, suggesting the social return is similar to or even a bit lower than the private return.. However, eventually the extra year of education raises that country s output by as much as 42%.. These findings suggest that workers that acquire an additional year of education provide positive externalities for the rest of the economy.. The specific mechanism for these externalities put forward in the paper is endogenous technological progress.. A more highly educated labor force is more likely to develop or adopt new technologies, which lead to higher growth and benefits all workers.. Such externalities provide a reason for government intervention.. Since individual workers do not reap all the benefits if they go to school a year longer, they acquire less education than is optimal for the country as a whole, says Professor van Rens, Thus, by subsidizing education, the government fosters higher growth and welfare.. But our estimates also show that it may take several decades for these additional benefits to realize.. Thus, investing more in education is a sensible policy for a government that cares about the well-being of future generations.. Thijs van Rens is a junior researcher at the Centre de Recerca en Economia Internacional (CREI), Assistant Professor at the Universitat Pompeu Fabra, and Affiliated Professor at the Barcelona Graduate School of Economics.. He received his PhD in economics at Princeton University in 2005, and has visited the European University Institute in Florence as well as the University of Chicago.. His main fields of interest are macroeconomics and labor economics, with a research focus on business cycle fluctuations on the labor market.. GSE Affiliated Professor Thijs van Rens in his office..

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  • Title: News   - Barcelona GSE
    Descriptive info: News46.. 10/01/2007.. It s What You Say, Not What you Pay: New Research Sheds Light on Overcoming Coordination Failure.. The most effective way to lead organizations out of low performance traps is to increase manager-employee communication, according to a paper titled.. It s What You Say, Not What You Pay: An Experimental Study of Manager-Employee Relationships in Overcoming Coordination Failure.. , published in December 2007 in the.. Journal of the European Economic Association.. Communication is even more effective than increasing financial incentives.. The study s authors, Barcelona GSE Affiliated Professor and IAE-CSIC Researcher.. Jordi Brandts.. and FSU Professor David J.. Cooper, examined the question of how to overcome coordination failure in underperforming corporations.. Their work focuses on the effectiveness of two prominent management tools, financial incentives and communication, on influencing behavior in such situations.. Says Professor Jordi Brandts, coordination has long been studied by behavioral game theorists, typically in situations in which the only players in the game are the agents attempting to coordinate.. However, in many cases there are important external agents who have a stake in whether coordination is achieved.. If a firm earns low profits because of coordination failure among its employees, the management and shareholders suffer as well.. If a country fails to develop economically because of coordination failure among industries, the government has a serious problem.. To study methods of overcoming coordination failure, the two  ...   level only if it would increase the minimum effort for the group.. As a result, in the initial phase of the game in which managerial intervention is absent employees invariably slipped into coordination failure.. A new manager was then introduced with the goal of overcoming the incipient coordination failure.. The manager was presented with two courses of action: either change employees incentives to coordinate by shifting some portion of the organization s surplus over to employees, or simply communicate with employees.. Results of the experiment revealed that communication was much more effective than increasing incentives in getting employees to emerge from coordination failure and uniformly increase their effort levels.. Additionally, the study found that the most successful communication strategy was quite simple: Explicitly request that all employees choose a high effort level, emphasize the mutual benefits of coordinating at a high effort level, and assure the employees that they are being paid well (although it is not necessary to actually pay them well).. Furthermore, results showed that as the available avenues of communication increased, both employees effort and managers profits increased.. The marginal profit from increasing incentives was actually slightly negative, as increased payments to employees more than consume the added revenue from increased effort by employees.. In contrast, the most effective types of messages increase profits by over 30% on average.. Barcelona GSE Affiliated Professor and IAE Researcher Jordi Brandts..

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  • Title: News   - Barcelona GSE
    Descriptive info: News45.. 27/12/2007.. Well-Being Valuation Method Estimates Monetary Impact of Informal Care is 10 Euros Per Hour.. An extra hour of informal care is worth between 9-10 euros to the caregiver, shows recent research on the monetary value of informal care using an innovative well-being valuation method.. The authors of the study, Barcelona GSE Affiliated Professor and ICREA-IAE Researcher.. Ada Ferrer-i-Carbonell.. and Free University of Amsterdam Researcher Bernard van den Berg, revealed that the extra hour of care was worth 8 or 9 Euros if the care recipient is a family member and about 7 or 9 Euros if not.. Moreover, when applying the contingent valuation method to the same sample, the value obtained was 10.. 52 Euros per hour.. The well-being valuation method looks at the economics of interventions in healthcare from a societal perspective.. Ferrer-i-Carbonell describes it as a very simple instrument that allows the researcher to capture all the relevant costs and benefits related to a health problem to the extent that they affect an individual s utility.. In addition, and since individuals are only asked to provide information about their own situation, such a method does not suffer from biases due to strategic behavior and the response rate is larger than when hypothetical questions are used.. Previous analyses have generally examined the problem using opportunity cost and proxy good methods, both of which have significant limitations; the former considers  ...   first estimated the effect of providing informal care and of income on an individual s subjective well-being, measured by means of a self-reported subjective happiness question.. The data was gathered from 865 informal caregivers from 59 regional centers in the Netherlands.. Then the researchers estimated the income necessary to maintain the same level of informal caregiver s well-being after providing an additional hour of informal care.. This was accomplished by econometrically estimating the effect of hours of provided care and of income on individual s well-being, while controlling for other individual characteristics.. Results revealed that the monetary value of informal care is approximately the market price for professional home care: 7 10 Euro/hour versus 8.. 53 Euro/hour.. Additionally, Professor Ferrer-i-Carbonell found a distinction between the monetary value of informal care for caregivers depending on whether or not the care recipient is family related to the caregiver.. For every given hour of care, providing care to family members involved a larger loss of utility than providing care to non-family members.. Because family-related caregivers provide, on average, many more hours of care a week than the other caregivers, and the monetary value of informal care decreases with the number of provided hours of care, when looking at the value of an extra hour of provided care the difference between the two groups is not statistically significant.. Barcelona GSE Affiliated Professor and ICREA-IAE Researcher Ada Ferrer-i-Carbonell..

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  • Title: Top Economists From GSE and Beyond Discuss Sovereign Risk at CREI/CEPR Conference - Barcelona GSE
    Descriptive info: News44.. 18/12/2007.. Top Economists From the GSE and Beyond Discuss Sovereign Risk at CREI/CEPR Conference.. On December 13 and 14, economists from the GSE research community and abroad convened in Barcelona to discuss the latest research and controversies in sovereign risk.. The conference was sponsored by the.. Centre for Research in International Economics.. (CREI), one of the GSE s supporting research institutions, and the Centre for Economics Policy Research (CEPR).. It was held at the Ciutadella campus of the GSE, site of both CREI and the UPF, and featured talks by economists from Harvard Business School, International Monetary Fund, Federal Reserve Bank, Central European University, University of Chicago, CREI, UPF, Barcelona GSE, and others.. Economists at the conference presented research on a variety of topics, ranging from restructuring sovereign debt to the role of credit history in sovereign bank lending.. Much of the body of research in sovereign risk has been dedicated to analyses of the probabilities and implications of the alteration of foreign-exchange regulations by foreign central banks, thereby significantly reducing or completely annulling the value of foreign-exchange contracts.. Recent hot topics in sovereign risk have included the controversy of vulture funds, formed by western investors capitalizing on the poverty of some countries, and later suing for millions for defaults on debts.. HBS Professor Noel Maurer presented  ...   enforcement institutions and, in the absence of further frictions, restores efficiency.. Adding a historical perspective to sovereign debt analyses, Barcelona GSE Master Director.. Hans-Joachim Voth.. (UPF, ICREA, CREI, CEPR) presented his paper.. Lending to the Borrower from Hell : Debt Sustainability in the Age of Phillip II.. (joint with Mauricio Drelichman).. In their work, they argue that lending to Philip II was sustainable because the principal bankers, the Genoese, operated like a single large syndicate, offering funds in overlapping coalitions.. They also document the extent to which contracts were contingent on the fiscal health of the Spanish monarchy, linking repayment conditions to significant fiscal news such as the arrival of silver fleets.. In this perspective, sixteenth century debt lending created a greater degree of market completeness than that achieved today.. Other presenters included Michael Kremer (Harvard University),.. Mark Aguiar (University of Rochester), Kenneth Kletzer (UC Santa Cruz), Péter Benczúr (CEU and MNB), Enrique Mendoza (University of Maryland), Veronica Guerrieri (University of Chicago), Jonathan Heathcote (Georgetown University and CEPR), Mark Wright (UCLA), and Olivier Jeanne (IMF and CEPR).. To view the program of the conference,.. click here.. To view a list of participants,.. GSE Master Director Joachim Voth gives a talk.. Attendants of the conference came from both Catalonia and abroad.. A panel on Rethinking the International Financial Architecture..

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  • Title: Nobel Laureates John Nash and Reinhard Selten Speak at Experimental Economics Workshop - Barcelona GSE
    Descriptive info: News42.. 29/11/2007.. Nobel Laureates John Nash and Reinhard Selten Speak on Experimental Economics at LEEX-UPF-Cologne workshop.. On November 29, members of the Barcelona Economics community gathered to hear four distinguished economists speak: Barcelona GSE Scientific Council Member.. Reinhard Selten.. (Laboratory Bonn University),.. John Nash.. (Princeton University), Barcelona GSE Affiliated Professor.. Rosemarie Nagel.. (ICREA-UPF), and.. Axel Ockenfels.. (University of Cologne).. The talks were part of a workshop titled Experimental Economics Across the Fields , organized by Rosemarie Nagel and Axel Ockenfels and offered by the UPF.. Department of Economics and Business.. ,.. University of Cologne.. , and the UPF.. Laboratory for Experimental Economics.. (LEEX).. The event took place at the Barcelona GSE Ciutadella campus at the Universitat Pompeu Fabra, one of the supporting academic institutions of the School.. It drew over 100 attendees from the Barcelona Economics community, including both Affiliated Professors and students of the Barcelona GSE.. Scientific Council member Reinhard Selten, who knows some professors and students of the school, commented that Barcelona had become one of the best places to study economics , citing the renowned researchers who are based  ...   Kaiser, and S.. Kube).. Following Professor Selten was Professor Axel Ockenfels, who revealed his research on maximizing item quality and buyer confidence in Designing eBay: Evidence from Field and Lab Behavior.. The third speaker was Barcelona GSE Professor Rosemarie Nagel, who gave a talk titled Beauty Contest in the Brain; a Neural Basis of Strategic Thinking (with G.. Coricelli), in which she examines the neural bases for decision-making and consumer behaviours.. The final talk was given by esteemed Nobel laureate John Nash, who spoke on The Agencies Method for Coalition Formation in Experimental Games (with R.. Nagel, A.. Ockenfels, and R.. Selten).. Attendees of the workshop, which was open to all members of the Barcelona Economics community, were able to interact with the speakers and other economics professors during coffee breaks and a pica-pica lunch, as well as during Q A sessions at the end of every talk.. Nobel Laureates in Economics Reinhard Selten and John Nash.. University of Cologne Professor Axel Ockenfels gives a talk.. Attendees of the conference at the Ciutadella campus.. Barcelona GSE Affiliated Professor Rosemarie Nagel presents her research..

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