Royal Economic Society Annual Conference · Alan Duncan Norman Gemmell ... Neil Rickman Nuno Garoupa ... A Theory of Religion: Linking Individual Beliefs, Rituals,

Royal Economic Society Annual Conference

11-13th April 2007

Information and Programme

1

Contents

Conference Programme at a glance p.2 Programme Practicalities p.3 Keynote Lectures p.4 Special Sessions p.5 General Sessions p.11 Other meetings p.32 Conference Practicalities p.33 Publishers’ Adverts p.35 Acknowledgements

2

Wednesday April 11th

From 10:30 Conference Registration and Reception open in Rootes Foyer (Registration moves to Ramphal Foyer from 15:30) 11:00 - 13:30 Private Meeting: CHUDE (lunch included) in Panorama 1; Rootes Building 12:00 - 13:30 Buffet Lunch for all Conference Participants; Ramphal Foyer and Marquee 13:30 - 15:00 General Session 1 (Sessions 1.1 - 1.12) 15:00 - 15:30 Tea/Coffee; Ramphal Foyer and Marquee 15:30 - 16:45 Hahn Lecture: Al Roth (Harvard); "What have we learned from market design?" (R0.21) 16:45 - 17:30 RES Annual General Meeting (R0.21) 16:45 - 17:45 Tea/Coffee plus residential room access 17:45 - 19:15 Special Session 1 (Sessions 1A - 1D) 20:00 - 22:00 Dinner (Panorama Suite, Rootes Building) 20:00 - 22:00 RES Conference Committee Dinner (Sutherland Suite, Rootes Building)

Thursday April 12th

Reception (for accommodation) is located in Rootes Foyer Registration is located in the Ramphal Foyer

09:00 - 10:30 RES Women’s Committee Meeting S0.03 10:00 - 11:00 Hands-on class 1 for Experimental Economics, Exeter Games (S2.82) 10:30 - 11:00 Tea/Coffee; Ramphal Foyer and Marquee 11:00 - 12:15 Sargan Lecture: Martin Browning (Oxford); "Husbands and wives: who does what and who gets what." (R0.21) 12:15 - 13:15 Hands-on class 2 for Experimental Economics, Econport (S2.82) 12:15 - 13:15 Buffet Lunch for all Conference Participants; Ramphal Foyer and Marquee 12:15 - 13:15 RES Conference Committee Meeting, with lunch (Panorama 1, Rootes) 13:15 - 14:45 Special Session 2 (Sessions 2A - 2D) 14:45 - 15:00 Tea/Coffee; Ramphal Foyer and Marquee 15:00 - 16:30 General Session 3 (Sessions 3.1 - 3.12) 16:30 - 16:45 Tea/Coffee; Ramphal Foyer and Marquee 16:45 - 18:15 General Session 4 (Sessions 4.1 - 4.12) 18:15 - 18:30 Break 18:30 - 20:00 Special Session 3 (Sessions 3A - 3C) 20:00 - 20:30 RES Women's Committee Reception, R0.12 and Ramphal Foyer 20:30 - 22:00 Conference Gala Dinner (Panorama Suite, Rootes Building)

Friday April 13th

Registration is located in the Ramphal Foyer 09:15 - 10:45 General Session 5 (Sessions 5.1 - 5.11) 10:45 - 11:15 Tea/Coffee; Ramphal Foyer and Marquee 11:15 - 12:30 Economic Journal Lecture: Abhijit Banerjee (MIT); "Theory and Practice in anti-corruption policies." (R0.21) 12:30 - 13:30 Buffet Lunch for all Conference Participants; Ramphal Foyer and Marquee 12:30 - 13:30 EJ Editorial Meeting, with lunch (Panorama 1, Rootes) 13:30 - 15:00 General Session 6 (Sessions 6.1 - 6.11) 15:00 - 16:30 General Session 7 (Sessions 7.1 - 7.10) 16:30 - 17:00 Tea/Coffee; Ramphal Foyer and Marquee

09:00 - 10:30 General Session 2 (Sessions 2.1 - 2.11)

Conference Programme at a glance

3

Programme Practicalities The main Conference venue is the Ramphal Building (number 45). Some sessions will also take place in other rooms located in the Social Studies Building (number 52, where the Department of Economics is located), the Library (number 32), Physics (number 42) and Humanities (number 24). A map of the University Central Campus can be found in your delegate bag. All rooms are equipped with Overhead Projectors (OHPs) and computer projection facilities. There is a desktop computer in each room and also a cable for connection to your laptop. In each room the internal computer has the Microsoft Office suite of programmes plus a pdf reader and internet access. General Sessions General Sessions are 90 minutes long with three speakers per session. Each speaker is expected to restrict their presentation to about 20-25 minutes with 5-10 minutes for questions and answers. The General Session chair is the last-named presenter in the session and has the responsibility of time-keeping throughout the session. In the event that one speaker fails to turn up on the day, the ses-sion chair should still allocate about 30 minutes to each paper and should run the presentations con-tinuously from the announced start time. Internet A computer room with 4 laptops connected to the Internet is available during the whole Conference on the first floor of the Ramphal Building in room R1.03. Other computer rooms can also be ac-cessed around the campus. To access any computer connected to the University network, you can use the following login and password:

Login: echdab Password: warwick There are many hotspots on the main campus, these include: • Ramphal (Foyer) • Rootes Social Building (Reception and the Bar) • Arts Centre (Café Bar and Mead Gallery) • Social Studies (Café Bar Foyer) • Library (Café Library) • Humanities (Raffles Coffee Bar) Once you have a wireless network connection within range of a hotspot, open up your web browser and allow it to connect to your homepage. You will be redirected to the Wireless Hotspots login page. The login and password are as given above. If you have problems with this process, then enter URL:

https://bsocket.csv.warwick.ac.uk Please note that any data sent over the wireless network is unencrypted.

4

Frank Hahn Lecture

Alvin Roth (University of Harvard)

What have we learned from market design?

Introduced by: John Sutton

Wednesday 15:30-16:45 Rm: R0.21

Denis Sargan Lecture

Martin Browning (University of Oxford)

Husbands and wives: who does what and who gets what

Introduced by: John Ermisch

Thursday 11:00-12:15 Rm: R0.21

Economic Journal Lecture

Abhijit Banerjee (Massachusetts Institute of Technology)

Theory and practice in anti-corruption policies

Introduced by: Antonio Ciccone

Friday 11:15-12:30 Rm: R0.21

Keynote Lectures

5

Special Session 1, 17.45-19.15, Wednesday April 11th

Session 1-A: Using Experimental Economics for Education in the Classroom and Beyond

Wednesday 17:45-19:15 Rm: Lib1

Organiser: Todd Kaplan

Jim Cox

EconPort: A Digital Library and Virtual Laboratory

Todd Kaplan, John Sloman, Dirk Engelmann

Dieter Balkenborg

Using Experiments to Educate Policy Makers About Market Design Al Roth

Todd Kaplan

Bringing Experimental Economics into the Classroom

Discussants:

Session Chair:

Session 1-B: Tax Modelling

Wednesday 17:45-19:15 Rm: LT4

Organiser: Jonathan Gillham

Martin Weale

Ales Cerny, James Sefton, Lubomir Schmid, Justin van de Ven

A life-cycle model of household savings

Alan Duncan

Norman Gemmell

Computable General Equilibrium (CGE) modelling of tax changes Jonathan Gillham

Adam Blake

Nick Catton

John Creedy

Modelling Corporation Tax Revenue Growth in the UK

Discussant:

Session Chair:

6

Special Session 1, 17.45-19.15, Wednesday April 11th

Session 1-C: Civil Justice

Wednesday 17:45-19:15 Rm: LT5

Organiser: Neil Rickman

Nuno Garoupa

Tom Ginsburg

The Economics of Judicial Councils

Osama Rahman

Winand Emons

The effects of conditional fees in litigation: Do incentives matter? Neil Rickman

Paul Fenn

Neil Rickman

Claude Fluet

The optimal amount of false testimony

Discussant:

Session Chair:

Session 1-D: Endogenous Political Institutions

Wednesday 17:45-19:15 Rm: R0.21

Organiser: Leonardo Felli, Leeat Yariv

Michel Le Breton

Vera Zaporozhets

Legislative Lobbying under Political Uncertainty

Ronny Razin

Welfare Reducing Polls? Leeat Yariv

Jacob Goeree, Julian Romero

Leeat Yariv

Gilat Levy

A Theory of Religion: Linking Individual Beliefs, Rituals, and Social Cohesion

Session Chair:

Discussants: Michel Le Breton, Ronny Razin, Leeat Yariv

7

Special Session 2, 13.15-14.45, Thursday April 12th

Session 2-A: Supermarket Competition and Buyer Power

Thursday 13:15-14:45 Rm: LT4

Organiser: John Thanassoulis

Roman Inderst

Leveraging Buyer Power

John Vickers

John Thanassoulis

Pennies from Heaven: Falling Prices with Rising Concentration Paul Dobson

Ratula Chakraborty, Jonathan Seaton

John Thanassoulis

Howard Smith

Upstream competition and downstream buyer power

Discussant:

Session Chair:

Session 2-B: Economics of Crime

Thursday 13:15-14:45 Rm: R0.21

Organiser: Steve Machin

Ben Vollaard

Joseph Hamed

Using the funding formula to estimate police effectiveness

Andrew Healey

Reducing Crime by Targeting Prolific Offenders Olivier Marie

Stephen Machin

Steve Machin

The impact of exogenous deployments of police resources on crime: findings from a quasi-experiment constructed around the policing re-sponse to the 7/7 terrorist attacks

Session Chair:

8


Session 2-C: Family Economics

Thursday 13:15-14:45 Rm: Lib1

Organiser: Jorn-Steffen Pischke , Marcos A. Rangel

Imran Rasul

Manuela Angelucci, Giacomo de Giorgi, Marcos Rangel

Do Family Networks Substitute for Missing Markets? Evidence from Rural Mexico

John Ermisch, Imran Rasul, Martin Browning

Martin Browning

Intra-household Allocation of Resources: Inferences from Non-resident Father's Child Support Payments

John Ermisch

Chiara Pronzato

Jorn-Steffen Pischke

Laura Blow, Mette Ejrnaes

Saving, consumption and marriage

Discussants:

Session Chair:

Session 2-D: Wages in the public sector


Organiser: Peter Dolton

Peter Dolton

Gerry Makepeace, Oscar Marcenaro, Adeline Aw

What Impact Have the Public Sector Pay Review Bodies Had?

John Beath

Karen Mumford

Spatial wage variation and its impact on public sector recruitment and retention: the case of the NHS

Matt Sutton

Bob Elliott, Ada Ma, Alex McCon-nachie, Stephen Morris, Nigel Rice, Diane Skatun

Peter Dolton

Monojit Chatterji

Public Sector-Private Sector Wage Gaps in the UK: Causes and Conse-quences

Discussants:

Session Chair:

Public sector pay: Long run and short run differences: a new approach

Amanda Gosling

Richard Disney

9


Session 3-A: Incentives in the Public Sector


Organiser: Simon Burgess

Matt Sutton

Hugh Granville, Ada Ma

Cheat or treat? Doctors' responses to payment based on self-reported treatment rates

Steve Palmer

Carol Propper

Smarter task assignment or greater productivity: what makes a differ-ence in incentivised team performance?

Simon Burgess

Carol Propper, Marisa Ratto, Stepha-nie von Hinke Kessler Scholder, Emma Tominey

Simon Burgess

Adele Atkinson, Simon Burgess, Bronwyn Croxson, Paul Gregg, Helen Slater, Deborah Wilson

Evaluating the Impact of Performance-related Pay for Teachers in Eng-land

Discussant:

Session Chair:

Session 3-B: Unified Growth

Thursday 18:30-20:00 Rm: R0.21

Organiser: Alvaro Pereira

Nicholas Crafts

Terence Mills

From Malthus to Solow: How Did the Malthusian Economy Really Evolve?

Andy Mountford

Jonathan Temple

From Growth Spurts to Sustained Growth: The Nature of Growth and Unified Growth Theory

Alvaro Pereira

Goncalo Monteiro

Alvaro Pereira

From Lewis to Solow: theory and evidence

Discussant:

Session Chair:

10


Session 3-C: Fiscal Policy and Public Debt


Organiser: Elisa Faraglia

Christopher Sleet

Hanno Lustig, Sevin Yetekin

Does the US government hedge against expenditure risk?

Mike Wickens, Albert Marcet, Myrvin Anthony

Elisa Faraglia

Interest Rate Costs and the Optimal Maturity Structure of Government Debt

Yves Nosbusch

Elisa Faraglia

Albert Marcet, Andrew Scott

Fiscal Insurance and Debt management in OECD Economies

Discussants:

Session Chair:

11

General Session 1, 13:30-15:00, Wednesday April 11th

Session: 1-1 Rm: SS0.03 Chair: Kang Yong Tan Wednesday 13:30-15:00

Laura Povoledo Bojan Markovic

Does Asia's choice of exchange rate regime affect Europe's exposure to US shocks?

Learning and International Transmission of Shocks

Kang Yong Tan Warwick McKibbin

Session: 1-2 Rm: Lib 1 Chair: Dudley Cooke Wednesday 13:30-15:00

Ester Faia

Optimal Monetary Policy with Labor Market Frictions

Unions, Wage Setting and Monetary Policy Uncertainty

How do Capital Controls Affect the Transmission of External Shocks?

Bernd Hayo Hans Peter Gruner, Carsten Hefeker

Dudley Cooke

Session: 1-3 Rm: LT4 Chair: Marcus Miller Wednesday 13:30-15:00

Bianca De Paoli Alasdair Scott, Olaf Weeken

Asset pricing implications of a New Keynesian model

Inflation, Qualitative Investment Composition and Total Factor Produc-tivity

Supply shocks and currency crises: the policy dilemma reconsidered

Stefan Niemann Michael Evers, Marc Schiffbauer

Marcus Miller Javier Garcia-Fronti, Lei Zhang

Session: 1-4 Rm: Lib 2 Chair: Rosa Fernandez Wednesday 13:30-15:00

Petri Bockerman Pekka Ilmakunnas

Job Disamenities, Job Satisfaction, Quit Intentions, and Actual Separa-tions: Putting the Pieces Together

Differences in job dissatisfaction across Europe

Job Flexibility and the Gender Gap in Job Satisfaction: New Evidence from Matched Employer-Employee Data

Cheti Nicoletti

Rosa Fernandez Mohammad Niaz Assadullah

12


Session: 1-5 Rm: R3.41 Chair: Christian Riis Wednesday 13:30-15:00

David Gill Rebecca Stone

Fairness and Desert in Tournaments

The Important Thing Is not (Always) Winning but Taking Part: Fund-ing Public Goods with Contests

Efficient Contests

Marco Faravelli

Christian Riis .

Session: 1-6 Rm: R2.41 Chair: Carlo Rosa Wednesday 13:30-15:00

Iryna Kaminska

A No-Arbitrage Structural Vector Autoregressive Model of the UK yield curve

On the Expectations Hypothesis Tests for Term Structure

The Impact of Central Bank Announcements on Asset Prices in Real Time: Testing the Efficiency of the Euribor Futures Market

Erdenebat Bataa Dong H. Kim, Denise R. Osborn

Carlo Rosa Giovanni Verga

Session: 1-7 Rm: LT5 Chair: Stephen Machin Wednesday 13:30-15:00

Geeta Kingdon

Teacher Characteristics and Student Achievement: A Pupil Fixed Ef-fects Approach

Pupil-teacher gender interaction effects on scholastic outcomes in Eng-land and the USA

Are Public Sector CEOs Different? Leadership Wages and Perform-ance in Schools

Andreas Ammermueller Peter Dolton

Stephen Machin Timothy Besley

Session: 1-8 Rm: H0.60 Chair: Crina Pungulescu Wednesday 13:30-15:00

Michael Bordo Christopher Meissner

International Capital Market Participation and Economic Growth in the First Era of Globalization

Real exchange rate volatility and asset market structure

Model Uncertainty, Financial Markets Integration and the Home Bias Puzzle

Christoph Thoenissen

Crina Pungulescu Lieven Baele, Jenke Ter Horst

13


Session: 1-9 Rm: H0.58 Chair: Andreea Halunga Wednesday 13:30-15:00

Nikolaos D. Sakkas David I. Harvey, Stephen J. Ley-bourne

Panel Unit Root Tests and the Impact of Initial Observations

Real Time Representation of the UK Output Gap in the Presence of Trend Uncertainty

Testing for Breaks in the Order of Integration of G7 Inflation and Inter-est Rates

Kevin Lee Anthony Garratt, Emi Mise, Kalvinder Shields

Andreea Halunga Denise Osborn, Marianne Sensier

Session: 1-10 Rm: R0.12 Chair: Jonathan Beck Wednesday 13:30-15:00

Jurgen Maurer Andre Meier

Do the "Joneses" Really Matter? Peer-group vs. Correlated Effects in Intertemporal Consumption Choice

On Time and Money Donations

Diderot's law

Paolo Ghinetti Lorenzo Cappellari, Gilberto Turati

Jonathan Beck

Session: 1-11 Rm: R1.15 Chair: Arijit Mukherjee Wednesday 13:30-15:00

Julian Emami Namini Ricardo A. Lopez

Random versus conscious selection into export markets - theory and empirical evidence

Free Entry and Government Revenue Under Trade Liberalization

Arijit Mukherjee M. Emranul Haque

Session: 1-12 Rm: R1.13 Chair: Catherine Waddams Price Wednesday 13:30-15:00

Monica Giulietti Jesus Otero, Michael Waterson

Supply competition and price behaviour in the UK electricity supply industry

An Empirical Model of Search with Vertically Differentiated Products

Do Consumers Switch to the Best Supplier?

Matthijs Wildenbeest

Catherine Waddams Price Chris M. Wilson

14

General Session 2, 09:00-10:30, Thursday April 12th

Session: 2-1 Rm: R1.15 Chair: Sonja Fagernas Thursday 9:00-10:30

Sridhar Arcot Valentina Bruno

One size does not fit all, after all: Evidence from Corporate Governance

Managerial Compensation and Capital Structure under Asymmetric Information

How do Family Ties, Boards and Regulation Affect Pay at the Top? Evidence for Indian CEOs.

Kostas Koufopoulos

Sonja Fagernas

Session: 2-2 Rm: R2.41 Chair: David Greenstreet Thursday 9:00-10:30

Roland Rathelot Patrick Sillard

The Impact of Local Taxes on Plants Location Decision

Anti-Competitive Effects of Resale-Below-Cost Laws

Exploiting Sequential Learning to Estimate Establishment-Level Pro-ductivity Dynamics and Decision Rules

Marie-Laure Allain Claire Chambolle

David Greenstreet

Session: 2-3 Rm: Lib 2 Chair: Gemma Tetlow Thursday 9:00-10:30

Kerry Papps

The effects of divorce risk on the labour supply of married couples

Older couples' labour market reactions to family disruptions

Healthy retirement or unhealthy inactivity: how important are financial incentives in explaining retirement?

David Haardt

Gemma Tetlow James Banks, Carl Emmerson

Session: 2-4 Rm: LT4 Chair: Tatiana Kirsanova Thursday 9:00-10:30

Elisa Faraglia Julen Esteban Pretel

Monetary Shocks in a Model with Loss of Skills

Optimal Monetary Policy in the Generalized Taylor Economy

Fiscal (In)Solvency, Discretionary Monetary Policy and Multiple Equi-libria

Engin Kara

Tatiana Kirsanova Andrew Blake

15


Session: 2-5 Rm: H0.60 Chair: Richard Anderson Thursday 9:00-10:30

Richard Dennis

The Frequency of Price Adjustment and New Keynesian Business Cy-cle Dynamics

Optimising indexation arrangements under Calvo contracts

Core Inflation as Idiosyncratic Persistence: A Wavelet-Based Approach to Measuring Core Inflation

Vo Phuong Mai Le Patrick Minford

Richard Anderson Fredrik Andersson, Jane Binner, Tho-mas Elger

Session: 2-6 Rm: R1.13 Chair: Morten Lau Thursday 9:00-10:30

Rupert Sausgruber Gerald Pruckner

A Natural Field Experiment on Newspaper Purchasing

Testing the Predictions of Decision Theories in a Natural Experiment When Half a Million Is at Stake

Dynamic Choice Behavior in a Natural Experiment

Ganna Pogrebna Pavlo Blavatskyy

Morten Lau Steffen Andersen, Glenn Harrison, Elisabet Rutstrom

Session: 2-7 Rm: R3.41 Chair: Kimberley Scharf Thursday 9:00-10:30

Marius Brulhart Mario Jametti

Does Tax Competition Tame the Leviathan?

Optimal Taxation with Imperfect Competition and Aggregate Returns to Specialization

A Theory of Distributional Conflict, Voluntarism and Segregation

Javier Coto-Martinez Carlos Garriga, Fernando Sanchez-Losada

Kimberley Scharf Ignatius Horstmann

Session: 2-8 Rm: LT5 Chair: Steve Gibbons Thursday 9:00-10:30

Oddbjorn Raaum Torbjorn Haegeland, Kjell Gunnar Salvanes

Pennies from heaven: Using exogenous tax variation to identify effects of school resources on pupil achievement

School Choice and The Housing Market: Valuation through and admis-sion reform

Urban Density and Pupil Attainment

Kjell Salvanes Stephen Machin

Steve Gibbons Olmo Silva

16


Session: 2-9 Rm: Lib 1 Chair: Mohammad Asadullah Thursday 9:00-10:30

Amparo Castello-Climent

On the Distribution of Education and Democracy

Official duty vs private practice: teachers and markets for tutoring in poor countries

Holly Alliances: Public Subsidies, Islamic High Schools, and Female Schooling in Bangladesh

Bibhas Saha Vegard Iversen, Subhra Baran Saha

Mohammad Asadullah Nazmul Chaudhury

Session: 2-10 Rm: R0.12 Chair: Dirk Engelmann Thursday 9:00-10:30

Friederike Mengel

Learning Across Games

Manna from Heaven or Forty Years in the Desert: Optimal Allocation without Transfer Payments

Overcoming Incentive Constraints? The (In-)effectiveness of Social Interaction

Surajeet Chakravarty Todd R. Kaplan

Dirk Engelmann Veronika Grimm

Session: 2-11 Rm: H0.58 Chair: Justina Fischer Thursday 9:00-10:30

Ana Paula Cusolito

Corporate control in the market for news, tunneling problems and cor-ruption

No Man is an Island: The Inter-Personal Determinants of Regional Well-Being in Europe

Political Institutions and Suicide: A regional analysis for Switzerland

Luisa Corrado Aqib Aslam

Justina Fischer Antonio Rodriguez Andres

17


Session: 3-1 Rm: LT4 Chair: David Vines Thursday 15:00-16:30

Tatiana Damjanovic Charles Nolan

Relative Price Distortions and Inflation Persistence

Strategic Monetary and Fiscal Policy Interactions: An Empirical Inves-tigation

Credit Constrained Consumers, Inflation Inertia and Instability under Fixed Exchange Rates

Matteo Fragetta Tatiana Kirsanova

David Vines Tatiana Kirsanova, Simon Wren-Lewis

Session: 3-2 Rm: R1.13 Chair: Kenneth Wallis Thursday 15:00-16:30

Costas Milas Chris Martin

Testing the Opportunistic Approach to Monetary Policy

Real-time Prediction with UK Monetary Aggregates in the Presence of Model Uncertainty

Evaluating a three-dimensional panel of point forecasts: the Bank of England Survey of External Forecasters

Anthony Garratt Gary Koop, Emi Mise, Shanu Vahey

Kenneth Wallis Gianna Boero, Jeremy Smith

Session: 3-3 Rm: LT5 Chair: David Paton Thursday 15:00-16:30

Emma Tominey

Maternal Smoking During Pregnancy and Child Birth Weight

Panic on the Streets of London

Did Abortion Cut Crime in England and Wales

Mirko Draca Stephen Machin, Robert Witt

David Paton Leo H. Kahane, Rob Simmons

Session: 3-4 Rm: R3.41 Chair: Jose Olmo Thursday 15:00-16:30

Olli Castren Chiara Osbat, Matthias Sydow

What drives investors behaviour in different FX market segments? A VAR-based return decomposition analysis

Asset Pricing Theory for Mean-Variance-Downside-Risk Averse Inves-tors

Jose Olmo

18


Session: 3-5 Rm: R1.15 Chair: Udo Kreickemeier Thursday 15:00-16:30

Jang Ping Thia

The Impact of Trade on Aggregate Productivity and Welfare With Het-erogeneous Firms and Business Cycle Uncertainty

Bilateral Trade Agreements and the Feasibility of Multilateral Free Trade

Firm Heterogeneity and the Labour Market Effects of Trade Liberalisa-tion

Halis Murat Yildiz Kamal Saggi

Udo Kreickemeier Hartmut Egger

Session: 3-6 Rm: R0.12 Chair: John Vickers Thursday 15:00-16:30

Ludivine Garside Paul Grout, Anna Zalewska

Does within-tenure experience make you 'tougher'? Evidence from competition law

Bargaining over remedies in merger regulation

Competitive nonlinear pricing and bundling

Andrei Medvedev Bruce Lyons

John Vickers Mark Armstrong

Session: 3-7 Rm: H0.60 Chair: Michael Pitt Thursday 15:00-16:30

James Walker Anna Vignoles, Mark Collins

Higher Education Academic Salaries in the UK

At what age should August born children start school?

Bayesian Multiple selection modelling: An exploration of the determi-nants of medical school choice

Claire Crawford Lorraine Dearden, Costas Meghir

Michael Pitt Wiji Arulampalam, Robin Naylor, Jeremy Smith

Session: 3-8 Rm: Lib 1 Chair: Rashmi Sarmah Thursday 15:00-16:30

Facundo Albornoz Toke Aidt

Political Transitions and Foreign Intervention

Biased Informative Lobbying: Targets and Timing

Red Tape, Corruption and Finance

Mike Felgenhauer

Rashmi Sarmah Keith Blackburn

19


Session: 3-9 Rm: R2.41 Chair: Mirabelle Muuls Thursday 15:00-16:30

Xufei Zhang David Greenaway, Richard Kneller

Exchange Rates and Exports: Evidence from Manufacturing Firms in the UK

The Determinants of the Location of Foreign Direct Investment in UK Regions

Does global size matter for productivity of MNEs?

Dimitra Dimitropoulou Simon Burke, Philip McCann

Mirabelle Muuls Chiara Criscuolo, Ralf Martin

Session: 3-10 Rm: Lib 2 Chair: Panu Pelkonen Thursday 15:00-16:30

Ross Campbell

Employee Heterogeneity and Within-Firm Experience-Earnings Pro-files: A Nonparametric Analysis

Estimating Promotion Probabilities Based Individual Attributes and Environmental Characteristics: An Information Theoretic Approach

The Incidence and Impact of Computer Use: Evidence from WERS 2004.

Amos Golan William Greene, Jeffrey Perloff

Panu Pelkonen Peter Dolton

Session: 3-11 Rm: SS0.03 Chair: Steffen Altmann Thursday 15:00-16:30

Martin Kocher Dennis Dittrich

Monitoring and Pay: An Experiment on Employee Performance under Endogenous Supervision

An Experiment on Forward versus Backward Induction: How Fairness and Levels of Reasoning Matter.

Reciprocity and Payment Schemes: When Equality Is Unfair

Dieter Balkenborg Rosemarie Nagel

Steffen Altmann Johannes Abeler, Sebastian Kube, Matthias Wibral

Session: 3-12 Rm: H0.58 Chair: Alan Sutherland Thursday 15:00-16:30

Sugata Ghosh Santanu Chatterjee

Utility and Productivity Enhancing Public Capital in a Growing Econ-omy

Optimal Monetary and Fiscal Policy in an Economy with Non-Ricardian Agents

Monetary Policy Rules and International Portfolio Choice

Michal Horvath

Alan Sutherland Michael B Devereux

20


Session: 4-1 Rm: H0.58 Chair: Inger Munk Thursday 16:45-18:15

Brendon McConnell Adele Atkinson, Paul Gregg

The result of 11 plus selection; An investigation into opportunities and outcomes for pupils in selective LEAs

Education, Risk Preference and Wages

Does the Quality of Public Education Affect Private School Demand?

Sarah Brown Karl Taylor

Inger Munk

Session: 4-2 Rm: R1.15 Chair: Sanghamitra Bandyopadhyay Thursday 16:45-18:15

Charles Grant Burcu Duygan

Household debt and arrears: what role do institutions play

The relationship between food consumption and socio-economic status: evidence among the British population

Modelling Vulnerability in the UK

Paola De Agostini

Sanghamitra Bandyopadhyay

Session: 4-3 Rm: Lib 1 Chair: Sara Connolly Thursday 16:45-18:15

Victoria Prowse

Part-time Work and Occupational Attainment Amongst a Cohort of British Women

Changing Patterns of Ethnic Minority Self-Employment in Britain: Evi-dence from Census Microdata

Dual Tracks: Part-time Work in Life-Cycle Employment for British Women

Ken Clark Stephen Drinkwater

Sara Connolly Mary Gregory

Session: 4-4 Rm: R3.41 Chair: Gianluca Femminis Thursday 16:45-18:15

Joanna Poyago-Theotoky Rod Falvey, Khemarat Teerasuwan-najak

Coordination Costs: A Drawback for Research Joint Ventures?

Exporting, R&D and Absorptive Capacity in UK Establishments: Evi-dence from the 2001 Community Innovation Survey

RJVs and Welfare with Knowledge Spillovers: A Dynamic Non-Tournament Model

Qian Cher Li Richard Harris

Gianluca Femminis

21


Session: 4-5 Rm: LT4 Chair: Alvaro Ruiz-Navajas Thursday 16:45-18:15

George Economides Apostolis Philippopoulos

Growth enhancing policy is the means to sustain the environment

Are any growth theories robust?

Income Distribution and Economic Growth: A reassessment of the fis-cal policy approach

Andros Kourtellos Steven N. Durlauf, Chih Ming Tan

Alvaro Ruiz-Navajas

Session: 4-6 Rm: LT5 Chair: Gernot Mueller Thursday 16:45-18:15

Juan Reboredo Javier Coto-Martinez

The Balassa-Samuelson Effect in an Imperfectly Competitive Econ-omy: Empirical Evidence for G7 Countries

Global Current Account Imbalances: Do Asset Prices and Exchange Rates Matter?

S-Curve Redux: On the International Transmission of Technology Shocks

Luciana Juvenal Marcel Fratzscher, Lucio Sarno

Gernot Mueller Zeno Enders

Session: 4-7 Rm: SS0.03 Chair: Valentina Corradi Thursday 16:45-18:15

Pascal St-Amour

Benchmarks in Aggregate Household Portfolios

Switching mortgages: a real options perspective

Simulation Based Predictive Density Estimation and Testing for Diffu-sion Processes

Frank Strobel Celine Gondat-Larralde

Valentina Corradi Norman Swanson

Session: 4-8 Rm: R1.13 Chair: Lei Zhang Thursday 16:45-18:15

Giorgio Valente Lucio Sarno

Exchange Rates and Fundamentals: Footloose or Evolving Relation-ship?

Explaining exchange rate dynamics at short horizon: The uncovered equity return parity condition

Monitoring Bands and Monitoring Rules: how currency intervention can change market composition

Roberto De Santis Lorenzo Cappiello

Lei Zhang Luisa Corrado, Marcus Miller

22


Session: 4-9 Rm: R2.41 Chair: Luigi Siciliani Thursday 16:45-18:15

Bjoern Bartling

Relative vs. Team Performance Evaluation with Inequity Averse Agents

Investment in Bargaining Games

Performance indicators for quality with adverse selection, gaming and inequality aversion

Francesca Flamini

Luigi Siciliani Michael Kuhn

Session: 4-10 Rm: R0.12 Chair: Paul Fenn Thursday 16:45-18:15

Ansgar Wohlschlegel Ido Baum, Eberhard Feess

Can You Keep a Secret? The Economics of the Reporter's Privilege

Expectation Damages, Divisible Contracts and Bilateral Investment

The impact of risk management standards on the frequency of MRSA infections in NHS hospitals

Susanne Ohlendorf

Paul Fenn Alastair Gray, Neil Rickman, Dev Vencappa, Oliver Rivero, E. Lotti

Session: 4-11 Rm: H0.60 Chair: Georgios Chortareas Thursday 16:45-18:15

Stephen Millard George Speight, Matthew Willison

Why do central banks observe a distinction between intraday and over-night interest rates?

(Un)naturally Low? Sequential Monte Carlo Tracking of the Natural Rate of Interest

Monetary Policy and Stock Returns in the UK: Has Inflation Targeting made a Difference?

Silvia Sgherri Marco Lombardi

Georgios Chortareas John Nankervis, Emmanouil Noikokiris

Session: 4-12 Rm: Lib 2 Chair: Masayuki Kudamatsu Thursday 16:45-18:15

Vincenzo Di Maro Emmanuel Skoufias, Teresa Gon-zalez-Cossio, Sonia Ramirez

Income and Micronutrient Consumption in Rural Mexico

The Impact of Land Redistribution on Household Food Security: Mi-croeconometric evidence from South Africa

Has Democratization Reduced Infant Mortality in Sub-Saharan Africa? Evidence from Mother Fixed Effects Estimation

Christina Valente

Masayuki Kudamatsu

23

General Session 5, 09:00-10:30, Friday April 13th

Session: 5-1 Rm: R2.41 Chair: Ilias Tsiakas Friday 9:15-10:45

Maik Schmeling Lukas Menkhoff

Local Information in Foreign Exchange Markets

Hedge Your Costs: Exchange Rate Risk and Endogenous Currency Invoicing

An Economic Evaluation of Empirical Exchange Rate Models: Robust Evidence of Predictability and Volatility Timing

Dennis Novy

Ilias Tsiakas Pasquale Della Corte, Lucio Sarno

Session: 5-2 Rm: H0.60 Chair: Harald Fadinger Friday 9:15-10:45

Dierk Herzer Stephan Klasen, Felicitas Nowak-Lehmann

In search of FDI-led growth in developing countries

Development Accounting in a Heckscher-Ohlin World

Harald Fadinger

Session: 5-3 Rm: R3.41 Chair: Arunish Chawla Friday 9:15-10:45

Yundan Gong Sourafel Girma

Putting people first? FDI and employment adjustment of state-owned enterprises in Urban China

Trade in cultural goods and social networks

FDI Policy, Quantity Competition and Heterogeneous Firms

Angela Cheptea

Arunish Chawla

Session: 5-4 Rm: H0.58 Chair: Andreas Knabe Friday 9:15-10:45

Thomas Wagner Elke J. Jahn

The Income and the Scarring Risk of Unemployment

The Supply of Skills in the Labor Force and Aggregate Output Volatil-ity

Marginal wage subsidies: a rent-extracting instrument for employment creation

Steven Lugauer

Andreas Knabe

24


Session: 5-5 Rm: R0.12 Chair: Hans-Martin Krolzig Friday 9:15-10:45

Yongcheol Shin Liang Hu

Optimal Test for Markov Switching GARCH Models

A Simple Test for Temporal Disaggregation

Impulse-Response Analysis in Markov Switching Vector Autoregres-sive Models

Christian Mueller

Hans-Martin Krolzig

Session: 5-6 Rm: Lib 1 Chair: Priscila Ferreira Friday 9:15-10:45

Mathias Sinning

Savings and Remittances in the Presence of Return Migration and In-come Risk

Skill-biased technical change in manufacturing industries: evidence from Finnish plant level data

A tale of two risks? An integrated analysis of the determinants of pro-motions and firm separations in Portugal.

Elias Einio

Priscila Ferreira

Session: 5-7 Rm: Lib 2 Chair: Robert Ritz Friday 9:15-10:45

Alex Dickson Roger Hartley

On a foundation for Cournot equilibrium

Comparative Statics with the Interval Dominance Order

Emissions trading and profit-neutral grandfathering

John Quah Bruno Strulovici

Robert Ritz Cameron Hepburn, John Quah

Session: 5-8 Rm: LT4 Chair: Ander Perez Friday 9:15-10:45

Haiping Zhang Juergen von Hagen

Financial Openness and Macroeconomic Volatility

Shape of US business cycle and long run effects of recessions

Financial Innovation, Macroeconomic Stability and Systemic Crises

Giacomo Carboni

Ander Perez Prasanna Gai, Sujit Kapadia, Stephen Millard

25


Session: 5-9 Rm: LT5 Chair: Fabio Arico Friday 9:15-10:45

Sergio Scicchitano

Complementarity between Heterogenous Human Capital and R&D: can Job-Training Avoid Low Development Traps?

Towards a theory of total factor productivity (-growth): Monetary pol-icy, short-run fluctuations and long-run consequences

Skills-acquisition, Technological Diffusion and Structural Unemploy-ment in a Matching Model with Two-sided Heterogeneities

Marc Schiffbauer Michael Evers, Stefan Niemann

Fabio Arico

Session: 5-10 Rm: R1.15 Chair: Paulo Santos Friday 9:15-10:45

Andrey Launov Isabel Guenther

Competitive and Segmented Informal Labor Markets

Social Network Capital, Economic Mobility and Poverty Traps

Informal insurance in the presence of poverty traps. Evidence from southern Ethiopia.

Sommarat Chantarat Christopher B. Barrett

Paulo Santos Christopher B. Barrett

Session: 5-11 Rm: R1.13 Chair: Anthony Murphy Friday 9:15-10:45

Steffan Ball

Limited stock market participation, pensions and consumption over the life-cycle

Housing Collateral and Household Indebtedness: Is there a household financial accelerator?

Housing Wealth, Credit Conditions and Consumption

John Gathergood Sarah Bridges, Richard Disney

Anthony Murphy Janine Aron, John Muellbauer

26


Session: 6-1 Rm: R0.12 Chair: Paul Mosley Friday 13:30-15:00

Axel Dreher Jan-Egbert Sturm, James Raymond Vreeland

Does membership on the UN Security Council influence IMF deci-sions? Evidence from panel data

Foreign Aid, Political Instability, and Economic Growth

Trust, conditionality and aid-effectiveness

Manuel Oechslin

Paul Mosley Suleiman Abrar

Session: 6-2 Rm: Lib 1 Chair: John Hunter Friday 13:30-15:00

Ruthira Naraidoo Patrick Minford, Ioannis Venetis

The political economy of unemployment and threshold effects. A nonlinear time series approach.

Fractional Integration and Structural Breaks in U.S. Macro Dynamics

Common trends, Cointegration and Competitive Price Behaviour

Antonio Moreno Luis Gil-Alana

John Hunter Simon Burke

Session: 6-3 Rm: Lib 2 Chair: Yu Zhu Friday 13:30-15:00

Olivier Bargain Olivier Donni

A theory of child targeting

Always Poor or Never Poor and Nothing in Between? Duration of childpoverty in Germany

Child Support and Educational Outcomes - Evidence from the British Household Panel Survey

Marcus Tamm Michael Fertig

Yu Zhu Ian Walker

Session: 6-4 Rm: LT4 Chair: Marina-Eliza Spaliara Friday 13:30-15:00

Simon Price Sebastian Barnes, Maria Sebastia-Barriel

The elasticity of substitution: evidence from a UK firm-level data set

Labor Market Rigidities, Financial Integration and International Risk Sharing in the OECD

UK Evidence on the Effects of Firm-Specific Characteristics on the Capital-Labour ratio under Capital Market Imperfections

Jarko Fidrmuc Neil Foster, Johann Scharler

Marina-Eliza Spaliara

27


Session: 6-5 Rm: LT5 Chair: Martin Robson Friday 13:30-15:00

Alex Bryson Michael White

Unions, within-workplace job cuts, and job security guarantees

Before Leaving the Working Families' Tax Credit to Lie, Another Look at Labour Supply

Does Raising the Pay of Low Wage Employees Reduce Their Rate of Sickness Absence? Evidence from the Impact of Minimum Wage Leg-islation

Ghazala Yasmeen Azmat

Martin Robson Marco Ercolani

Session: 6-6 Rm: H0.58 Chair: Jonathan Temple Friday 13:30-15:00

Mario Larch Peter Egger

Interdependent Preferential Trade Agreement Memberships: An Em-pirical Analysis

Can trade hurt? A follow-up on Samuelson's controversial paper

Does external trade promote financial development?

Philipp Schroder Holger Gorg, Jurgen Bitzer

Jonathan Temple Yongfu Huang

Session: 6-7 Rm: H0.60 Chair: Luke Garrod Friday 13:30-15:00

Mariano Selvaggi Luis Vasconcelos

Star Wars: Exclusive Superstars and Collusive Outcomes

Unilateral and Coordinated Effects of Mergers: Experimental Evidence

Surcharging as a Facilitating Practice

Hans Theo Normann Miguel Fonseca

Luke Garrod

Session: 6-8 Rm: R1.13 Chair: Francesco Zanetti Friday 13:30-15:00

Javier Ferri Javier Andres, Rafael Domenech

Price Rigidity and the Volatility of Vacancies and Unemployment

Strategic Wage Bargaining, Labor Market Volatility, and Persistence

Labor Market Institutions and Aggregate Fluctuations in a Search and Matching Model

Matthias S. Hertweck

Francesco Zanetti

28


Session: 6-9 Rm: R2.41 Chair: Misa Tanaka Friday 13:30-15:00

Eelke de Jong Koen van der Veer

Paris Club Involvement: helping or harming IMF's attempt to catalyse private capital flows?

Financial Frictions and Household Debt: a New Perspective on the Twin Deficit Problem

International monetary cooperation in a world of imperfect information

Giovanni Callegari

Misa Tanaka Kang Yong Tan

Session: 6-10 Rm: SS0.03 Chair: Katharina Wick Friday 13:30-15:00

Helmut Rainer Thomas Siedler

Does Democracy Foster Trust?

Politician Preferences and Caps on Political Lobbying

Phases of Development: Conflict and Production in the Presence of an Exhaustible Resource

Tuvana Pastine Ivan Pastine

Katharina Wick

Session: 6-11 Rm: R3.41 Chair: Alex Trew Friday 13:30-15:00

Andres Carvajal

On refutability of the Nash-Walras equilibrium hypothesis

A Three Way Equivalence

Endogenous Exchange Costs in General Equilibrium

Nicholas Ziros Leonidas C. Koutsougeras

Alex Trew Charles Nolan

29


Session: 7-1 Rm: R0.12 Chair: Daniel Birke Friday 15:00-16:30

Aron Toth

The Great Industry Gamble: Market Structure Dynamics with Moral Hazard

Network effects, network structure and consumer interaction in mobile telecommunications in Europe and Asia

Daniel Birke Peter Swann

Session: 7-2 Rm: H0.60 Chair: Jose Dorich Friday 15:00-16:30

Takayuki Tsuruga Bill Dupor, Tomiyuki Kitamura

Do Sticky Prices Need to Be Replaced with Sticky Information?

When do Firms Adjust Prices? Evidence from Micro Panel Data

Resurrecting the Role of Real Money Balance Effects

Sarah M. Rupprecht

Jose Dorich

Session: 7-3 Rm: R1.13 Chair: Maria Jose Gil-Molto Friday 15:00-16:30

Mario Pezzino Paul Madden

Oligopoly on a Salop circle with centre

Entry and Exit in a Liberalised Market

Maria Jose Gil-Molto Claudio Piga

Session: 7-4 Rm: H0.58 Chair: Markus Kinateder Friday 15:00-16:30

Martin Kaae Jensen

Aggregative Games

Repeated Games Played in a Network

Markus Kinateder

30


Session: 7-5 Rm: R2.41 Chair: Alice Mesnard Friday 15:00-16:30

Juan F. Vargas Oeindrila Dube

Are All Resources Curse? Coffee, Oil and Armed Conflict in Colombia

Migration, Violence and Welfare in Rural Colombia

Alice Mesnard Orazio Attanasio

Session: 7-6 Rm: R3.41 Chair: Ralf A. Wilke Friday 15:00-16:30

Michael Pfaffermayr

Conditional beta- and sigma -Convergence in Space: A Maximum Likelihood Approach

Censored Box-Cox Quantile Regression for Unemployment Duration in Germany

Ralf A. Wilke Bernd Fitzenberger

Session: 7-7 Rm: LT4 Chair: Christophe Kamps Friday 15:00-16:30

Nuno Venes

Political and Institutional Determinants of the Cyclicality of Fiscal Pol-icy: Evidence from the OECD and Latin America

Taxation and the UK's interwar depression

What are the effects of fiscal policy shocks? A VAR-based comparative analysis

Shaun Vahey James Nason

Christophe Kamps Dario Caldara

Session: 7-8 Rm: LT5 Chair: Euan Phimister Friday 15:00-16:30

Stephan Thomsen Reinhard Hujer, Christopher Zeiss

The Effects of Short-Term Training Measures on Individual Unemploy-ment Duration in Western Germany

Unemployment Insurance Benefits a Trap Or Bridge?: Longitudinal Evidence From The Netherlands 1985-2000

Housing Tenure, Job Mobility and Unemployment in the UK

Irma Mooi-Reci Melinda Mills

Euan Phimister Harminder Battu, Ada Ma

31


Session: 7-9 Rm: Lib 1 Chair: Alfonso Miranda Friday 15:00-16:30

Katharina Michaelowa Jean Bourdon, Markus Frolich

Teacher Shortages, Teacher Incentives and their Impact on Education in Africa

Intrinsic Motivation, Discrimination and the Child Labor-Schooling Trade-Off: Empirical Evidence

Do migrant networks affect education in source countries? Evidence from Mexico

Bernhard Ganglmair

Alfonso Miranda

Session: 7-10 Rm: Lib 2 Chair: Raphael Espinoza Friday 15:00-16:30

Christian Zehnder Martin Brown

The Emergence of Information Sharing In Credit Markets

Supply signals, complementarities, and multiplicity in asset prices and information acquisition

Endogenous State Prices and the Yield Curve

Jayant Ganguli Liyan Yang

Raphael Espinoza Dimitrios P. Tsomocos

32

Other meetings taking place during the Conference CHUDE meeting: Wednesday 11:00 - 13:30 in Panorama 1 RES AGM: Wednesday 16:45 - 17:30 in R0.21 RES Women’s Committee: Thursday 09:00 - 10:30 in SS003 RES Conference Committee: Thursday 12:15 - 13:15 in Panorama 1 EJ Editorial Meeting: Friday 12:30 - 14:00 in Panorama 1

33

Conference Practicalities Residential Check-in and Accommodation In addition to registering for the Conference you will need to check-in at the Reception Desk located on the ground floor of the Rootes Building. Bedrooms will normally be available from 15:00 only, but you will be able to leave your luggage in storage at the Reception of the Rootes Building. The Reception Desk remains in the Rootes building throughout the Conference. Your bedroom will be located in either Arthur Vick (number 4) or Jack Martin (number 29) Residences. All bedrooms are networked for free internet access (for computers with an Ethernet network card) – if you have not brought an Ethernet cable with you, one can be obtained from Rootes Reception. These rooms do not have telephones. On the morning of your departure, when vacating your bedroom, you may leave luggage at the Reception Desk in the Rootes Social Building. Conference venue A noticeboard for urgent messages will be situated in the Ramphal building Foyer. Please ensure that you check this regularly, in particular for messages from the RES Media Consultant Romesh Vaitilingham. Meals The Conference begins with a buffet lunch in the Ramphal Building (number 45) at 12noon, followed by the first general sessions from 13:30 to 15:00. On each of the following two days of the Conference buffet lunches will also be served in the main Foyer of the Ramphal Building. Evening dinners (on both Wednesday and Thursday evenings) will take place in the Panorama Room on the second floor of the Rootes Social Building. Breakfast will be served in the restaurant on the first floor of the Rootes Social Building. Tea and coffee will be served during break times in the Ramphal Building Foyer. Bars The central campus has two main bars, The Bar situated in Rootes Social Building and the Arts Centre Café Bar. Both serve a wide selection of draught and bottled beers, spirits and soft drinks. The Bar Monday - Saturday - 12noon – 11:00pm Sunday - 12noon – 10.30pm Café Bar Monday - Saturday - 12noon – 9:00pm Sunday - 3:00pm – 9:00pm Publishers exhibits Publishers exhibition stands will be located on the ground floor of the Ramphal building in room R0.03/04.

34

Press Office This is located in Ramphal Room R1.04. Car Parking Once on campus you can park in either Conference car parks 6 (in box D6 on the map), 7 or 8 (both in box E5). Car parking is free of charge during the Conference. Facilities Facilities at the University include a bookshop, pharmacy, cinema, hairdresser, newsagent, Post Office, super-market and a launderette. A CD/DVD shop is located in the heart of the Arts Centre and is open from 11:00am – 6:30pm, Monday – Friday. There are Natwest, HSBC and Barclays Banks on campus with cash dispensers. These can be found in the mall area around Rootes Social Building. There are also Link and Lloyds cash dispensers. You are advised to bring some cash for drinks and other sundry items as individual room accounts cannot be set up. Sports facilities are available to delegates free of charge. These include an indoor heated swimming pool, squash courts, equipped gymnasium and outside tennis courts. Squash and tennis courts can be booked at the Sports Centre on Reception (Ext. 23011). The general opening times are: Monday – Friday: 7:15am – 9:30pm Saturday: 7:15am – 5:30pm Sunday: 8:00am – 7:30pm Emergency Services and Fire Procedures For help in an emergency dial 22222 from any internal telephone and your call will be directed appropriately. Visitors are asked to familiarise themselves with the University’s fire procedures which are displayed in each bedroom. On discovering a fire in other buildings: Raise the alarm by breaking the glass in the nearest Break Glass Point. On hearing the continuous ringing of fire bells: Stop what you are doing Leave by the nearest Fire Exit Walk calmly, do not run Do not stop to collect personal belongings Make your way to the nearest evacuation point, standing well clear of the building. Do not re-enter the building until told to do so by the Fire Service or University Security Staff. Medical Assistance The University Health Centre is open Monday - Friday 9:00am - 1:00pm and 2:00pm - 5:00pm. Visitors in need of emergency assistance should contact Security on internal extension 22222. Reporting Incidents In the unlikely event of an accident or other incident occurring on University premises, please report immedi-ately to Rootes Reception who will then take appropriate action. Please dial 22222 from an internal phone, or 024 7652 2222 externally to be in direct contact with our 24 hour security staff.

Published for the Suntory-Toyota International Centres forEconomics and Related Disciplines on behalf of the London School of Economics by Blackwell Publishing

◆ Fast turnaround: first decision onmost papers in 6 weeks

◆ Papers by top economistsworldwide

◆ Seminal articles across all branchesof economics

◆ Extensive international readership

ww

w.b

lack

wel

lpub

lishi

ng.c

om/e

cca

Economica

Keep up to date with new researchTo register to receive a free email table of contents alert eachtime a new issue of Economica is published online, please go to www.blackwell-synergy.com

EDITORS

Francesco Caselli,Frank Cowell,Tore Ellingsen and Alex Michaelides

REVIEW EDITOR

Amos Witztum

Blackwell Publishing is recognised worldwide as one of the leadingpublishers of economics and finance journals and books, with titlescovering the whole spectrum of sub-disciplines:

We work with over 70 learned societies and toporganisations in economics, finance and related fields,

publishing more than 80 journals, many edited andwritten by the most highly-cited and highly-

regarded economists in the world. Among thesedistinguished titles are over 40 ISI- rankedjournals – comprising more than 30% of thejournals in the 2005 business financecategory and 20% in economics.

Blackwell’s books programme includes best-selling titles in econometrics, managerial

economics, financial markets and urbaneconomics written by authors at the forefront of

their field. We are proud to publish a number ofNobel Prize-winning economists including

Robert C. Merton, Amartya Sen, Milton Friedman andTheodore Schultz.

AccountingAgricultural EconomicsCorporate FinanceDevelopment EconomicsEconometricsEconomic HistoryEconomic TheoryEnvironmental EconomicsFinancial ManagementFinancial Markets & InstitutionsGame TheoryGlobalisationIndustrial Economics

Institutional DevelopmentInsuranceInternational EconomicsInvestmentsLabour EconomicsMathematical FinanceMoney & BankingOil & EnergyPolitical EconomicsPublic Sector EconomicsPublic Sector FinanceRegional EconomicsTransition Economics

Blackwell Publishing

Global Leaders in Economics

To explore our full range of economics and finance books and journals visit:

www.blackwelleconomics.com

Out this Spring

Economics: European EditionPaul Krugman’s Economics.

Still the most engaging book on the market – now more European! Adapted by Kathryn Graddy, University of Oxford, UK Request your free inspection copy today.

At Palgrave Macmillan we publish cutting edge scholarship, best-selling textbooks, influential reports and the latest research in our print and online journals. Come and visit us at our stand to find out about the depth and breadth of our economics publishing.

The Very Best in Economics Publishing

from Palgrave Macmillan

£5 offBring this to the Palgrave Macmillan stand and receive £5 off any of our books on the 11th and 12th April 2007.

New for 2008

The New Palgrave Dictionary of Economics, Second EditionThe definitive resource for a new generation of economists. Visit our stand to pick up a leaflet, sign up to the mailing list and get information on how to preview articles ahead of publication.

National Institute Economic Review

Economic modelling and analysis

Education and training

•

•

Productivity and competitiveness

Workings of the international economy

•

•

Now with an online user forum and a FREE archive of the most cited NIER articles! http://nier.sagepub.com

A publication of the National Institute of Economic and Social Research - one of Britain’s oldest and most prestigious independent research organisations.

The review, founded in 1959, provides a vehicle for publishing and promoting high quality research and debate on economic and related social issues.

NIER boasts an exceptionally fast publication scheduleThe National Institute Economic Review prides itself on its unusually fast publication schedule. Analysis of the economic situation is published within three days of receipt of final copy, enabling its readers to get the most up to date information available.

Principal Topics Covered by the Review

NDM0227_NERad.indd 1 02/03/2007 16:34:54

Acknowledgements Programme Chair: Jeremy Smith (University of Warwick) Local Organiser : Natalie Chen (University of Warwick) Conference Secretary: Robin Naylor (University of Warwick) Dept Assistants to RES2007: Fiona Brown (University of Warwick) Margaret Nash (University of Warwick) Conference Management: Warwick Conferences (Sharon Savins) Media Consultant: Romesh Vaitilingam Conference Volume Editors: Steve Machin (University College London) Andrew Scott (London Business School) Programme Committee Members: Christina Atanasova (University of York)

Gianluca Benigno (London School of Economics) Indraneel Dasgupta (University of Nottingham) Mike Devereux (University of Oxford) Peter Dolton (Royal Holloway College) Caroline Elliott (University of Lancaster) Martin Ellison (University of Warwick) Rosa Fernandez (University of Oxford) Prasanna Gai (Bank of England/ANU) Sayantan Ghosal (University of Warwick) Monica Giulietti (Aston University) Liam Graham (University College London) Andrew Henley (Swansea University) Udo Kreickemeier (University of Nottingham) Hans-Martin Krolzig (University of Kent) Costas Milas (Keele University) Catia Montagna (University of Dundee) Anthony Murphy (University of Oxford) Lars Nesheim (University College London) Rachel Ngai (London School of Economics) Tom Nicholas (London School of Economics) Charles Nolan (University of St Andrews) Trudy Owens (University of Nottingham) David Paton (University of Nottingham) Mike Pitt (University of Warwick) Eugenio Proto (University of Warwick) Imran Rasul (University College London) Martin Sefton (University of Nottingham) Daniel Seidmann (University of Nottingham) Marianne Sensier (University of Manchester) Joanna Swaffield (University of York) Kim Swales (University of Strathclyde) Mark Taylor (University of Warwick) Cecilia Testa (Royal Holloway College) Christopher Wallace (University of Oxford) Tim Worrall (Keele University)

Conference website: http://www.warwick.ac.uk/fac/soc/Economics/res2007/ Conference website creation: Steve Thomas ([email protected]) Conference email: [email protected] [email protected] Submission software: Conference Maker (http://gemini.econ.umd.edu/conference/)

Documents

Royal Economic Society Annual Conference · Alan Duncan Norman Gemmell ... Neil Rickman Nuno Garoupa ... A Theory of Religion: Linking Individual Beliefs, Rituals,