Meetings: Spring, 2017

06/30/2017

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Development of the American Economy

The NBER's Program on the Development of the American Economy met in Cambridge on March 18. Program Director Claudia Goldin of Harvard University organized the meeting. These researchers' papers were presented and discussed:

James J. Feigenbaum, Princeton University and NBER; James Lee, Cornerstone Research; and Filippo Mezzanotti, Northwestern University, "Capital Destruction and Economic Growth: The Effects of Sherman's March, 1850-1920"
Trevon Logan, Ohio State University and NBER, "Do Black Politicians Matter?"
Henry S. Farber and Ilyana Kuziemko, Princeton University and NBER, and Suresh Naidu, Columbia University and NBER, "Unions and Inequality in Historical Perspective"
Efraim Benmelech, Carola Frydman, and Dimitris Papanikolaou, Northwestern University and NBER, "Financial Frictions and Employment during the Great Depression" (NBER Working Paper No. 23216)
Daniel K. Fetter, Wellesley College and NBER, "Local Government and Old Age Support in the New Deal" (NBER Working Paper No. 22760)
Walker Hanlon, University of California, Los Angeles, and NBER, and Katherin Sudol, Quinnipiac University, "Pollution and Maternal Mortality: Evidence from the London Fog

Productivity, Innovation, and Entrepreneurship

The NBER's Program on Productivity, Innovation, and Entrepreneurship met in Cambridge on March 24. Program Directors Nicholas Bloom of Stanford University and Josh Lerner of Harvard University organized the meeting. These researchers' papers were presented and discussed:

Miguel Antón and Mireia Giné, IESE Business School (Barcelona); Florian Ederer, Yale University; and Martin C. Schmalz, University of Michigan, "Innovation: The Bright Side of Common Ownership?"
Lorenz Kueng, Northwestern University and NBER; Nicholas Li, University of Toronto; and Mu-Jeung Yang, University of Washington, "The Impact of Emerging Market Competition on Innovation and Business Strategy: Evidence from Canada" (NBER Working Paper No. 22840)
Daron Acemoglu, MIT and NBER, and Pascual Restrepo, Boston University, "Robots and Jobs: Evidence from U.S. Labor Markets" (NBER Working Paper No. 23285)
Dan R. Andrews, Chiara Criscuolo, and Peter N. Gal, OECD, "The Best versus the Rest: The Global Productivity Slowdown, Divergence across Firms, and the Role of Public Policy"
Oriana Bandiera, London School of Economics; Stephen Hansen, University of Oxford; Andrea Prat, Columbia University; and Raffaella Sadun, Harvard University and NBER, "CEO Behavior and Firm Performance"
Bilal Zia, World Bank, "Pathways to Profits: Identifying Separate Channels of Small Firm Growth through Business Training"
Achyuta Adhvaryu, University of Michigan and NBER; Namrata Kala, Harvard University; and Anant Nyshadham, Boston College, "The Skills to Pay the Bills: Returns to On-The-Job Soft Skills Training"

Corporate Finance

The NBER's Program on Corporate Finance met in Chicago on March 24. Faculty Research Fellow Martin Oehmke of Columbia University and Research Associate Adriano A. Rampini of Duke University organized the meeting. These researchers' papers were presented and discussed:

Jean-Noël Barrot and Erik Loualiche, MIT; Matthew C. Plosser, Federal Reserve Bank of New York; and Julien Sauvagnat, Bocconi University (Milan), "Import Competition and Household Debt"
Francesco D'Acunto and Alberto G. Rossi, University of Maryland, "Ditching the Middle Class with Financial Regulation"
Vyacheslav Fos, Boston College, and Andres Liberman and Constantine Yannelis, New York University, "Debt and Human Capital: Evidence from Student Loans"
Gustaf Bellstam, Sanjai Bhagat, and J. Anthony Cookson, University of Colorado Boulder, "A Text-Based Analysis of Corporate Innovation"
Peter M. DeMarzo, Stanford University and NBER, and Zhiguo He, University of Chicago and NBER, "Leverage Dynamics without Commitment" (NBER Working Paper No. 22799)
Manuel Adelino, Duke University and NBER; Kristopher Gerardi, Federal Reserve Bank of Atlanta; and Barney Hartman-Glaser, University of California, Los Angeles, "Are Lemons Sold First? Dynamic Signaling in the Mortgage Market"
Shai Bernstein, Stanford University and NBER; Emanuele Colonnelli, Stanford University; Xavier Giroud, MIT and NBER; and Ben Iverson, Northwestern University, "Bankruptcy Spillovers" (NBER Working Paper No. 23162)
Julian Franks and Vikrant Vig, London Business School, and Oren Sussman, University of Oxford, "The Privatization of Bankruptcy: Evidence from Financial Distress in the Shipping Industry

Asset Pricing

The NBER's Program on Asset Pricing met in Chicago on March 24. Faculty Research Fellow Ralph Koijen and Research Associate Itamar Drechsler, both of New York University, organized the meeting. These researchers' papers were presented and discussed:

Markus K. Brunnermeier and Wei Xiong, Princeton University and NBER, and Michael Sockin, University of Texas at Austin, "China's Model of Managing the Financial System"
Nina Boyarchenko and Matthew C. Plosser, Federal Reserve Bank of New York, and Valentin Haddad, University of California, Los Angeles, and NBER, "The Federal Reserve and Market Confidence"
Tano Santos, Columbia University and NBER, and Pietro Veronesi, University of Chicago and NBER, "Habits and Leverage" (NBER Working Paper No. 22905)
Peter Diep and Scott Richardson, AQR Capital Management, and Andrea L. Eisfeldt, University of California, Los Angeles, and NBER, "Prepayment Risk and Expected MBS Returns" (NBER Working Paper No. 22851)
Hui Chen and Jiang Wang, MIT and NBER, and Anton Petukhov, MIT, "The Dark Side of Circuit Breakers"
Serhiy Kozak, University of Michigan; Stefan Nagel, University of Michigan and NBER; and Shrihari Santosh, University of Maryland, "Shrinking the Cross-Section"

Behavioral Finance

The NBER's Working Group on Behavioral Finance met in Chicago on March 24–25. Working Group Director Nicholas C. Barberis of Yale University organized the meeting. These researchers' papers were presented and discussed:

Juhani T. Linnainmaa, University of Southern California and NBER, and Michael R. Roberts, University of Pennsylvania and NBER, "The History of the Cross Section of Stock Returns" ( NBER Working Paper No. 22894)
Robin Greenwood and Andrei Shleifer, Harvard University and NBER, and Yang You, Harvard University, "Bubbles for Fama"(NBER Working Paper No. 23191)
Ming Dong, York University (Toronto), and David Hirshleifer and Siew Hong Teoh, University of California, Irvine, "Stock Market Overvaluation, Moon Shots, and Corporate Innovation"
Kent D. Daniel, Columbia University and NBER; Alexander Klos, University of Kiel (Germany); and Simon Rottke, University of Münster (Germany), "Overpriced Winners"
Tobias J. Moskowitz, Yale University and NBER, "Asset Pricing and Sports Betting"
Samuel M. Hartzmark, University of Chicago, and David H. Solomon, University of Southern California, "The Dividend Disconnect"

International Trade and Investment

The NBER's Program on International Trade and Investment met in Cambridge on March 31 and April 1. Program Director Stephen J. Redding of Princeton University organized the meeting. These researchers' papers were presented and discussed:

Treb Allen, Dartmouth College and NBER, and Costas Arkolakis, Yale University and NBER, "The Welfare Effects of Transportation Infrastructure Improvements"
Giulia Brancaccio, Princeton University; Myrto Kalouptsidi, Harvard University and NBER; and Theodore Papageorgiou, McGill University, "Geography, Search Frictions, and Trade Costs"
Raymond Owens and Pierre-Daniel Sarte, Federal Reserve Bank of Richmond, and Esteban Rossi-Hansberg, Princeton University and NBER, "Rethinking Detroit" (NBER Working Paper No. 23146)
Dávid K. Nagy, CREI (Barcelona), "City Location and Economic Development"
Cheng Chen, University of Hong Kong, and Claudia Steinwender, Harvard University, "Import Competition, Heterogeneous Preferences of Managers, and Productivity"
Federica Coelli, Andreas Moxnes, and Karen H. Ulltveit-Moe, University of Oslo, "Better, Faster, Stronger: Global Innovation and Trade Liberalization" (NBER Working Paper No. 22647)
George Alessandria, University of Rochester and NBER; Horag Choi, Monash University (Melbourne); and Dan Lu, University of Rochester, "Trade Integration and the Trade Balance in China"
Nicholas Bloom, Stanford University and NBER; Kalina Manova, University of Oxford; John Van Reenen, MIT and NBER; Stephen Sun, Peking University (Beijing); and Zhihong Yu, Nottingham University (U.K.), "Managing Trade: Evidence from China and the U.S."

Political Economy

The NBER's Program on Political Economy met in Cambridge on April 21. Program Director Alberto Alesina of Harvard University organized the meeting. These researchers' papers were presented and discussed:

Ruben Enikolopov and Maria Petrova, Institute of Political Economy and Governance (Barcelona), and Alexey Makarin, Northwestern University, "Social Media and Protest Participation: Evidence from Russia"
Nicola Fontana, London School of Economics, and Tommaso Nannicini and Guido Tabellini, Bocconi University (Milan), "Historical Roots of Political Extremism: The Effects of Nazi Occupation of Italy"
Samuel A. Bazzi, Boston University; Arya Gaduh, University of Arkansas; Alexander D. Rothenberg, RAND Corporation; and Maisy Wong, University of Pennsylvania, "Unity in Diversity? Ethnicity, Migration, and Nation Building in Indonesia"
Alberto F. Alesina; Stefanie Stantcheva, Harvard University and NBER; and Edoardo Teso, Harvard University, "Intergenerational Mobility and Preferences for Redistribution" ( NBER Working Paper No. 23027)
Patrick Francois and Kairong Xiao, University of British Columbia, and Francesco Trebbi, University of British Columbia and NBER, "Factions in Nondemocracies: Theory and Evidence from the Chinese Communist Party" (NBER Working Paper No. 22775)
Klaus Desmet, Southern Methodist University; Joseph F. Gomes, University of Navarra (Spain); and Ignacio Ortuño-Ortín, Carlos III University of Madrid, "The Geography of Linguistic Diversity and the Provision of Public Goods"

Education and Children

The NBER's Program on Children and the NBER's Program on Education met in Chicago on April 20–21. Co-directors of the NBER Program on Children Janet Currie of Princeton University and Anna Aizer of Brown University and Director of the NBER's Program on Education Caroline M. Hoxby of Stanford University organized this joint meeting. These researchers' papers were presented and discussed:

Esther Duflo, MIT and NBER; Pascaline Dupas, Stanford University and NBER; and Michael Kremer, Harvard University and NBER, "The Impact of Free Secondary Education: Experimental Evidence from Ghana"
Natalie Bau, University of Toronto, and Jishnu Das, World Bank, "The Misallocation of Pay and Productivity in the Public Sector: Evidence from the Labor Market for Teachers"
Nicola Bianchi, Northwestern University, and Michela Giorcelli, University of California, Los Angeles, "Scientific Education and Innovation: From Technical Diplomas to University STEM Degrees"
Barbara Biasi, Stanford University, "Unions, Salaries, and the Market for Teachers: Evidence from Wisconsin"
Matthew A. Kraft, Brown University, "Teacher Effects on Complex Cognitive Skills and Social-Emotional Competencies"
David N. Figlio, Northwestern University and NBER; Paola Giuliano, University of California, Los Angeles, and NBER; Umut Özek, American Institutes for Research; and Paola Sapienza, Northwestern University and NBER, "Long-Term Orientation and Educational Performance" (NBER Working Paper No. 22541)
Elaine M. Liu, University of Houston and NBER, and Xuejing Zuo, University of Houston, "Cultural Assimilation, Peer Effects, and the Evolution of the Gender Gap in Risk Preferences"
Kasey Buckles and Daniel M. Hungerman, University of Notre Dame and NBER, and Steven Lugauer, University of Kentucky, "Fertility Is a Leading Economic Indicator"
Rucker Johnson, University of California, Berkeley, and NBER, and C. Kirabo Jackson, Northwestern University and NBER, "Reducing Inequality through Dynamic Complementarity: Evidence from Head Start and Public School Spending"
Michael L. Anderson, University of California, Berkeley, and NBER; Justin Gallagher, Case Western Reserve University; and Elizabeth Ramirez Ritchie, University of California, Berkeley, "School Lunch Quality and Academic Performance" (NBER Working Paper No. 23218)
Douglas Almond, Columbia University and NBER, and Yi Cheng, Columbia University, "Perinatal Health among One Million American-Born Chinese"

Organizational Economics

The NBER's Working Group on Organizational Economics met in Cambridge on April 28–29. Working Group Director Robert S. Gibbons of MIT organized the meeting. These researchers' papers were presented and discussed:

David Cooper, Florida State University; Christos Ioannou, University of Southampton (U.K.); and Shi Qi, College of William and Mary, "Coordination with Endogenous Contracts: Incentives, Selection, and Strategic Anticipation"
Claudine M. Gartenberg, New York University; Andrea Prat, Columbia University; and George Serafeim, Harvard University, "Corporate Purpose and Financial Performance"
Marshall Ganz, Harvard University, "Leading Change: Stories, Strategy, and Structure"
Mitchell Hoffman, University of Toronto and NBER, and Steven Tadelis, University of California, Berkeley, and NBER, "How Do Managers Matter? Evidence from Performance Metrics and Employee Surveys in a Firm"
Avidit R. Acharya, Stanford University, and Juan M. Ortner, Boston University, "Progressive Learning"
Maija Halonen-Akatwijuka and In-Uck Park, University of Bristol (U.K.), "Coordination of Humanitarian Aid by Mediated Communication"
Marta Troya-Martinez, New Economic School (Moscow), and Liam Wren-Lewis, Paris School of Economics, "Relational Incentive Contracts with Collusion"
Ricard Gil, Johns Hopkins University; Myongjin Kim, University of Oklahoma; and Giorgio Zanarone, CUNEF (Madrid), "The Value of Relational Adaptation in Outsourcing: Evidence from the 2008 Shock to the U.S. Airline Industry"
Klaus Schmidt, University of Munich, and Fabian Herweg, University of Bayreuth (Germany), "Procurement with Unforeseen Contingencies"
Dalia Marin, University of Munich; Linda Rousova, European Central Bank; and Thierry Verdier, Paris School of Economics, "Do Multinationals Transplant their Business Model?"
Laura Alfaro and Raffaella Sadun, Harvard University and NBER; Nicholas Bloom, Stanford University and NBER; Paola Conconia nd Patrick Legros, Université Libre de Bruxelles (Belgium); Harald Fadinger, University of Mannheim (Germany); Andrew Newman, Boston University; and John Van Reenen, MIT and NBER, "All Together Now: Integration, Delegation, and Management"