2 - 4 AUGUST 2013, SINGAPORE · Grand Copthorne Waterfront Hotel Session 1 8:30 - 10:30 am Session 2 11 am - 1 pm Veranda 1 Investors and households behavior Organizer: Deng, Yongheng

2 - 4 AUGUST 2013, SINGAPORE

DEPARTMENT OF ECONOMICSFACULTY OF ARTS AND SOCIAL SCIENCES

NATIONAL UNIVERSITY OF SINGAPORE

2013 Asian Meeting of the Econometric Society

Inside Front Cover

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Welcome Message

Dear Colleagues, It is our pleasure to welcome you in Singapore for the 2013 Asian Meeting of the Econometric Society. In addition to those sessions formed from accepted papers through open submissions, it is the first time for the Asian Meeting to have parallel sessions that are organized by many dedicated individual organizers. The conference has 132 parallel sessions besides 11 invited lectures. The conference is well attended with 600 participants (including about 530 speakers) from all over the world. The first day of the conference, which consists of invited lectures, will be held in the lively University Town, which was opened two years ago by the National University of Singapore (NUS) as a new educational hub complete with residential spaces, teaching facilities and study clusters. All the parallel sessions will be held at the conference hotel on the second and third day of the conference. Besides meeting you in the conference sessions, we also look forward to seeing you at the conference dinner, which will take place at Chui Huay Lim Club on 3 August 2013. Please wait for the chartered buses at the conference hotel entrance at 6:45 pm. During the conference, lunches will be provided at the conference venue. For your night out, there are many restaurants, bars, and cafes along the riverside at which the conference hotel is located. Downstream in walking distance you will also find Clark Quay, which is a main nightlife location in Singapore. For sightseeing at night, the Singapore Botanic Gardens, Gardens by the Bay, and Night Safari are popular destinations. We acknowledge the generous support from the Dean’s Office in the Faculty of Arts and Social Sciences, and the Department of Economics, National University of Singapore. We are also grateful to the Econometric Society, the Monetary Authority of Singapore, and the Civil Service College for their sponsorships of this conference. Let us take this opportunity to thank the Program Co-chair Professor Han Hong, members of the local organizing/program committees, the session organizers, colleagues in the NUS Economics Department, and the support staff (Ms Meng Woan Lim and Ms Seok Min Neo) and the student assistants (Xiang Sun, Yifei Sun, and Ben Wang) who have spent many hours helping with the organization of the conference. Without their hard work this event would not have taken place. We hope you will enjoy your stay in Singapore and please do not hesitate to ask our conference team if you need any assistance. Yeneng Sun Yi-Chun Chen Chair Organizing Secretary Local Organizing Committee, the 2013 Asian Meeting of the Econometric Society

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Program Committee

Hong, Han (Stanford University) – Chair Sun, Yeneng (National University of Singapore) – Chair Armstrong, Timothy (Yale University) Bai, Chong-en (Tsinghua University) Cai, Hongbin (Peking University) Chen, Xiaohong (Yale University) Chen, Yongmin (University of Colorado) Chew, Soo Hong (National University of Singapore) Ely, Jeffrey (Northwestern University) Fan, Jianqing (Princeton University) Hong, Yongmiao (Cornell University; Xiamen University) Hsiao, Cheng (University of Southern California) Ichimura, Hidehiko (University of Tokyo) Kajii, Atsushi (Kyoto University) Khan, Shakeeb (Duke University) Kojima, Fuhito (Stanford University) Li, Tong (Vanderbilt University) Matsui, Akihiko (University of Tokyo) Matsushima, Hitoshi (University of Tokyo) Ng, Serena (Columbia University) Nishimura, Kazuo (Kobe University) Peng, Shin-Kun (Academia Sinica) Png, Ivan (National University of Singapore) Qin, Cheng-Zhong (University of California at Santa Barbara; Shandong University) Quah, Euston (Nanyang Technological University) Quah, John (University of Oxford) Sen, Arunava (Indian Statistical Institute) Shum, Matthew (California Institute of Technology; Renmin University of China) Su, Liangjun (Singapore Management University) Tian, Guoqiang (Texas A&M University; Shanghai University of Finance and Economics) Wang, Ping (Washington University in St. Louis) Whang, Yoon-Jae (Seoul National University) Wright, Julian (National University of Singapore) Yannelis, Nicholas (University of Iowa; University of Manchester) Yu, Jun (Singapore Management University) Zhang, Junsen (Chinese University of Hong Kong)

Local Organizing Committee

Sun, Yeneng (National University of Singapore) – Chair

Bag, Parimal (National University of Singapore)

Chen, Yi-Chun (National University of Singapore) – Organizing Secretary

Chia, Ngee-Choon (National University of Singapore)

Kapur, Basant (National University of Singapore)

Kikuchi, Tomoo (National University of Singapore)

Luo, Xiao (National University of Singapore)

Oka, Tatsushi (National University of Singapore)

Pan, Jessica (National University of Singapore)

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Summary of Parallel Sessions Saturday, 3 August, morning

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Grand Copthorne Waterfront Hotel

Session 1

8:30 - 10:30 am

Session 2

11 am - 1 pm

Veranda 1 Investors and households behavior

Organizer: Deng, Yongheng Economics of organization

Organizer: Chan, Jimmy

Veranda 2 Non\Semi-parametric methods I

Chair: Bonhomme, Stephane Non\Semi-parametric methods II

Chair: Toh, Mun Heng

Level 2

Veranda 3 School choice

Chair: Liu, Haoming Education and gender

Chair: Liu, Haoming

Paradiso Economics of the family Organizer: Zhang, Junsen

Chinese financial markets Organizer: Zhu, Xiaoneng; Chair: Niu,

Linlin

Swallow Empirics of social networks

Organizer: Shum, Matthew Financial econometrics I

Organizer: Yu, Jun

Lyrebird Equilibrium dynamics in economic

growth models Organizer: Nishimura, Kazuo

Estimation and inference on sets and boundaries

Organizer: Armstrong, Timothy and Hong, Han

Level 3

Falcon Economics of innovation

Organizer: Hu, Albert and Png, Ivan Empirical health and labor economics

Organizer: Kan, Kamhon

Kingfisher Aftermath of natural disasters

Organizer: Kawaguchi, Daiji Inequality

Chair: Pistolesi, Nicolas

Pelican Recent developments in nonparametric

and semiparametric methods Organizer: Ichimura, Hidehiko

Recent developments in panel data analysis

Organizer: Ichimura, Hidehiko

Toucan Bubbles and crashes: theoretical

foundation Organizer: Matsushima, Hitoshi

Dynamic stochastic general equilibrium models

Organizer: Yang, Cheng-Chen

Oriole Macroeconomic policies Organizer: Guo, Jang-Ting

Monetary policy Chair: Manopimoke, Pym

Canary 1 Asset markets and equilibrium analysis Organizer: Hara, Chiaki and Honda, Toshiki

Competition policy Organizer: Wright, Julian

Canary 2 Topics in trade and geography

Organizer: Hsu, Wen-Tai and Peng, Shin-Kun

Topics in urban and regional economics

Organizer: Hsu, Wen-Tai and Peng, Shin-Kun

Bluebird Dynamic panel data methods

Organizer: Kiviet, Jan F.

Globalization and economic growth I Organizer: Kikuchi, Tomoo and Vachadze,

George

Nightingale Foundations of game theory

Organizer: Friedenberg, Amanda Mathematical economics

Chair: Green, Edward

Hummingbird Topics in econometrics I

Chair: Ham, John Macroeconomics and policy

Chair: Bodenstein, Martin

Level 4

Sharma Topics in microeconomics I

Chair: Nahata, Babu

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Topics in macroeconomics I Chair: Kapur, Basant

Lunch @ foyer, Level 3 and Level 4

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Summary of Parallel Sessions Saturday, 3 August, afternoon

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Session 3

2 - 4 pm

Session 4

4:30 – 6:30 pm

Veranda 1 Empirical labor economics

Organizer: Kan, Kamhon and Pan, Jessica

Industrial organization II Organizer: Fong, Pohan; Chair: Au, Pak

Hung

Veranda 2 Micro-econometric models with latent

variables Organizer: Hu, Yingyao; Chair: Xu, Haiqing

Stochastic frontier model estimation Organizer: Wang, Hung-Jen

Level 2

Veranda 3 Contract theory and mechanism

design Chair: Hu, Tai-Wei

Industrial organization III Chair: Yoo, Seung Han

Paradiso Behavioral economics I Organizer: Meng, Juanjuan

Behavioral economics II Chair: Theseira, Walter E

Swallow Financial econometrics II Chair: Mariano, Roberto S.

Superstition, cultural norms, and market outcomes

Organizer: Shum, Matthew

Lyrebird Panel data analysis Organizer: Li, Tong

Economics of public policy issues Organizer: Quah, Euston

Level 3

Falcon Industrial organization I

Organizer: Su, Che-Lin Chair: Yang, Nan

Economic impacts of migration Organizer: Pan, Jessica

Kingfisher Unemployment Chair: Zhang, Min

Quantitative methods in economic history

Organizer: Dong, Baomin

Pelican Recent developments in program

evaluation methods Organizer: Ichimura, Hidehiko

Quantile regression Organizer: Oka, Tatsushi and Yoon,

Jungmo

Toucan Fiscal policy

Chair: Chen, Been-Lon Macroeconomic dynamics

Organizer: Zeng, Jinli and Zhang, Jie

Oriole Government policy and redistribution

Chair: Hendren, Nathaniel

Panel data models with cross section dependence

Organizer: Su, Liangjun

Canary 1 Advances in contest theory

Organizer: Fu, Qiang and Lu, Jingfeng

Asymmetric information and ambiguity

Organizer: Yannelis, Nicholas; Chair: Tourky, Rabee

Canary 2 Firm behavior, urban development and

social conflict Organizer: Du, Julan; Chair: Wang, Jin

Financial econometrics III Chair: Li, Jia

Bluebird Globalization and economic growth II

Organizer: Kikuchi, Tomoo Economic growth I

Chair: Sunakawa, Takeki

Nightingale Topics in game theory I

Organizer: Chen, Yi-Chun and Luo, Xiao Topics in game theory II

Organizer: Chen, Yi-Chun and Luo, Xiao

Hummingbird Financial economics

Chair: Anderson, Robert Topics in econometrics II

Chair: Rambaldi, Alicia

Level 4

Sharma Topics in macroeconomics II

Chair: Fidrmuc, Jarko

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Topics in macroeconomics III Chair: Srisuma, Sorawoot

Conference Dinner @ Chui Huay Lim Club (regular participants only)

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Summary of Parallel Sessions Sunday, 4 August, morning

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Session 5

8:30 - 10:30 am

Session 6

11 am - 1 pm

Veranda 1 Topics in microeconomics II

Organizer: Chan, Marc K. and Yu, Haomiao

Topics in microeconomics III Chair: Kim, Kyungmin

Veranda 2 Contract and design Organizer: Quah, John

Models and their testable restrictions Organizer: Quah, John

Level 2

Veranda 3 Risk premia in financial markets Organizer: Fan, Jianqing and Xiu,

Dacheng

Financial markets and macroeconomy

Chair: Kashiwagi, Masanori

Paradiso Technology, allocative efficiency, and

labor productivity Organizer: Wang, Ping

Empirical international trade Organizer: Lu, Yi and Tao, Zhigang

Swallow Behavioral industrial organization

Organizer: Lee, Jihong

Cognition, perception and expectation

Organizer: Saijo, Tatsuyoshi

Lyrebird Empirical analysis of auction data

Organizer: Li, Tong Random matching and search

Organizer: Matsui, Akihiko

Level 3

Falcon Topics in trade theory I

Organizer: Chor, Davin Topics in trade theory II

Organizer: Chor, Davin

Kingfisher Studies of two-sided matching

markets Organizer: Shum, Matthew

Occupational mobility and internal labor markets

Chair: McKenzie, Colin R

Pelican Education and development

Organizer: Park, Albert Auctions

Organizer: Lu, Jingfeng and Ye, Lixin

Toucan Topics in macroeconomics IV

Organizer: Wang, Cheng

Information frictions and macroeconomics

Organizer: Wang, Yong

Oriole Quantitative finance Organizer: Kou, Steven

Assets market and equilibrium Organizer: Ma, Chenghu

Canary 1 Game theory and decision making I

Organizer: Fu, Haifeng and Zhang, Yongchao

Game theory and decision making II Organizer: Fu, Haifeng and Zhang,

Yongchao

Canary 2 Topics in mechanism design Organizer: Chatterji, Shurojit

Mechanism design and its application Organizer: Yeh, Chun-Hsien

Bluebird Applied game theory

Organizer: Qin, Cheng-zhong

Epistemic logic and inductive game theory

Organizer: Kaneko, Mamoru

Nightingale Industrial organization theory

Organizer: In, Younghwan Topics in political economics

Chair: Salvo, Alberto

Level 4

Sharma Topics in macroeconomics V

Chair: Böhm, Volker

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Empirical economics I Chair: Hessami, Zohal

Lunch @ foyer, Level 3 and Level 4

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Summary of Parallel Sessions Sunday, 4 August, afternoon

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Session 7

2 - 4 pm

Session 8

4:30 – 6:30 pm

Veranda 1

Social choice and cooperative game theory

Organizer: Chun, Youngsub; Chair: Salonen, Hannu

Environment Chair: Sung, Yusen

Veranda 2 Public goods and taxation

Chair: Mondal, Debasis Topics in public economics

Chair: Sng, Tuan Hwee

Level 2

Veranda 3

Recent development in matching theory

Organizer: Kim, Jinwoo and Kojima, Fuhito

Auction theory Organizer: Wang, Ruqu; Chair: Kotowski,

Maciej H.

Paradiso Macroeconomic dynamics II Chair: Polemarchakis, Herakles

Forecasting Chair: Abeysinghe, Tilak

Swallow

Behavioral, experimental and biological economics I

Organizer: Chew, Soo Hong and Zhong, Songfa

Behavioral, experimental and biological economics II

Organizer: Chew, Soo Hong and Zhong, Songfa

Lyrebird

Experimental asset markets: the role of experience, information, expectation and regulation

Organizer: Riyanto, Yohanes Eko

Firms and technology Chair: Sun, Juliana Yu

Level 3

Falcon Mathematical finance I

Organizer: Koo, Hyeng Keun and Won, Dongchul

Mathematical finance II Organizer: Koo, Hyeng Keun and Won,

Dongchul

Kingfisher Hypothesis testing Chair: Gandhi, Amit

Identification and instrumental variable

Chair: Gao, Zhengyuan

Pelican Auctions: theory and experiment

Organizer: Wang, Ruqu; Chair: Ratan, Anmol

Housing markets Chair: Ouyang, Min

Toucan Dynamic programming

Organizer: Kamihigashi, Takashi and Stachurski, John

Economic growth II Chair: Thangavelu, Shandre M.

Oriole Trade

Chair: Lai, Tat-kei International trade

Chair: Cheong, Juyoung

Canary 1 Nonatomic games

Organizer: Rath, Kali and Yu, Haomiao Topics in economic theory II

Organizer: Chen, Yi-Chun and Ely, Jeffrey

Canary 2 R&D implementation, disclosure and

monitoring Organizer: Bag, Parimal

Matching and market design Chair: Strulovici, Bruno

Bluebird Repeated games

Organizer: Takahashi, Satoru

Contract theory and leadership games

Organizer: Bag, Parimal

Nightingale Topics in economic theory I Chair: Stinchcombe, Maxwell

Matching and search Chair: Chou, Eric Szu-Wen

Level 4

Sharma Empirical economics II

Chair: Yim, Andrew

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Empirical economics III Chair: Song, Changcheng

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Parallel Sessions Saturday, 3 August, 8:30 - 10:30 am

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Investors and households behavior Organizer: Deng, Yongheng Level 2, Veranda 1

8:30 - 9 am

Qian, Wenlan (National University of Singapore, Singapore; [email protected]) Agarwal, Sumit (National University of Singapore, Singapore)

Consumption and debt response to fiscal stimuli:

evidence from a large panel of consumers in Singapore

9 - 9:30 am

Liu, Xin (National University of Singapore, Singapore; [email protected]) Deng, Yongheng (National University of Singapore, Singapore) Wei, Shang-jin (Columbia University, USA)

One fundamental, two transaction costs: isolating the

effects of transaction costs on price volatility and trading volumes

9:30 - 10 am

Choi, Hyun-Soo (Singapore Management University, Singapore; [email protected]) Hong, Harrison (Princeton University, USA) Scheinkman, Jose (Princeton University, USA)

Speculating on home improvements

10 - 10:30 am

He, Jia (National University of Singapore, Singapore; [email protected]) Deng, Yongheng (National University of Singapore, Singapore)

Time preference and mortgage default

Non\Semi-parametric methods I Chair: Bonhomme, Stephane Level 2, Veranda 2

8:30 - 9 am

Li, Degui (Monash University, Australia; [email protected]) Simar, Leopold (Universite Catholique de Louvain, Belgium) Zelenyuk, Valentin (University of Queensland, Australia)

To smooth or not to smooth? The case of discrete

variables in nonparametric regression

9 - 9:30 am

Chu, Ba (Carleton University, Canada; [email protected]) Bravo, Francesco (University of York, UK) Jacho-Chavez, David Tomas (Emory University, USA)

Two-step semiparametric generalized empirical

likelihood estimation and inference with dependent data

9:30 - 10 am Wan, Yuanyuan (University of Toronto, Canada; [email protected]) Xu, Haiqing (University of Texas, USA)

Inferences in semiparametric binary response models

with interval data

10 - 10:30 am Bonev, Petyo (University of Mannheim, Germany; [email protected])

Monotonicity in economics: nonparametric two-stage projection IV methods for testing and constrained

estimation

School choice Chair: Liu, Haoming Level 2, Veranda 3

8:30 - 9 am Jinnai, Yusuke (University of Rochester, USA; [email protected])

The impact of charter schools' entry on traditional

public schools: new evidence from North Carolina

9 - 9:30 am Kawagoe, Toshiji (Future University Hakodate, Japan; [email protected])

Affirmative action in school choice problem: an

experiment

9:30 - 10 am Hu, Weiwei (Duke University, USA; [email protected])

Neighborhood interactions and school choices: evidence from the New York city

Economics of the family Organizer: Zhang, Junsen (this session is supported by the Chinese University of Hong Kong) Level 3, Paradiso

8:30 - 9 am DeLeire, Thomas (University of Wisconsin-Madison, USA; [email protected]) Lopoo, Leonard (Syracuse University, USA)

Family structure and the economic wellbeing of children in youth and adulthood

9 - 9:30 am

Kniesner, Thomas J. (Claremont Graduate University and Syracuse University, USA and IZA, Germany; [email protected]) Viscusi, W. Kip (Vanderbilt University and NBER, USA) Ziliak, James P. (University of Kentucky, USA)

Willingness to accept equals willingness to pay: labor

market estimates of the value of statistical life

9:30 - 10 am Stern, Steven (University of Virginia, USA; [email protected])

Will you still want me tomorrow? The dynamics of families' long-term care arrangements

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Sovinsky, Michelle (University of Zurich, Switzerland)

10 - 10:30 am

Zhang, Junsen (Chinese University of Hong Kong, Hong Kong; [email protected]) Weiss, Yoram (Tel Aviv University, Israel) Yi, Junjian (University of Chicago, USA)

Hypergamy, cross-boundary marriages, and family

behavior

Empirics of social networks Organizer: Shum, Matthew Level 3, Swallow

8:30 - 9 am Sheng, Shuyang (University of California at Los Angeles, USA; [email protected])

Identification and estimation of network formation

models

9 - 9:30 am Hsieh, Chih-Sheng (Chinese University of Hong Kong, Hong Kong; [email protected]) Lee, Lung Fei (Ohio State University, USA)

Specification and estimation of network formation and

network interaction models with the exponential

probability distribution

9:30 - 10 am Chiong, Khai Xiang (California Institute of Technology, USA; [email protected]

Revealed preference analysis of social network models

10 - 10:30 am Leong, Chee Kian (University of Nottingham at Ningbo, China; [email protected])

Corporate social responsibility: reputations, norms

and cascades

Equilibrium dynamics in economic growth models Organizer: Nishimura, Kazuo Level 3, Lyrebird

8:30 - 9 am Kapur, Basant (National University of Singapore, Singapore; [email protected])

Horizontal (northern) and vertical (southern)

innovation, multinational corporations, and endogenous growth

9 - 9:30 am Fukuda, Katsufumi (Kobe University, Japan; [email protected])

An effect of agglomeration on international wage

inequality in a semi endogenous growth and foot loose capital model

9:30 - 10 am Iwasa, Kazumichi (Kyoto University, Japan; [email protected]) Nishimura, Kazuo (Kobe University, Japan)

Trade and indeterminacy

10 - 10:30 am Suzuki, Keishun (Tohoku University, Japan; [email protected])

Economic growth and two protections of intellectual

property rights: patent and trade secret

Economics of innovation Organizer: Hu, Albert and Png, Ivan

Level 3, Falcon

8:30 - 9 am

Leung, Tin Cheuk (Chinese University of Hong Kong, Hong Kong; [email protected]) Chao, Hong (Shanghai University of Finance and Economics, China) Ho, Chun-Yu (Shanghai University of Finance and Economics, China) Ng, Travis (Chinese University of Hong Kong, Hong Kong)

Does jailbreaking raise smartphone profit? A conjoint survey approach

9 - 9:30 am

Mohnen, Pierre (MERIT, Netherlands; [email protected]) Van Leeuwen, George (Statistics Netherlands, Netherlands)

Revisiting the porter hypothesis: an empirical analysis of green innovation in the Netherlands

9:30 - 10 am Hu, Albert (National University of Singapore, Singapore; [email protected])

Does government R&D stimulate or crowd out firm R&D spending? Evidence from Chinese manufacturing

industries

10 - 10:30 am

Png, Ivan (National University of Singapore, Singapore; [email protected]) Ge, Chunmian (National University of Singapore, Singapore) Huang, Ke-wei (National University of Singapore, Singapore)

Misclassification bias in patent measures: estimation

and applications

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Aftermath of natural disasters Organizer: Kawaguchi, Daiji Level 4, Kingfisher

8:30 - 9 am Noy, Ilan (Victoria University of Wellington, New Zealand; [email protected]) duPont, William IV (University of Hawaii, USA)

What happened to Kobe? A reassessment of the

impact of the 1995 earthquake in Japan

9 - 9:30 am

Sasaki, Masaru (Osaka University, Japan; [email protected]) Ohtake, Fumio (Osaka University, Japan) Okuyama, Naoko (Kobe University, Japan) Yasui, Kengo (Ritsumeikan University, Japan)

Measuring the long-lasting effect of natural disasters: the case of the 1995 Hanshin-Awaji earthquake

9:30 - 10 am

Arai, Yoichi (National Graduate Institute for Policy Studies, Japan; [email protected]) Ichimura, Hidehiko (University of Tokyo, Japan) Kawaguchi, Daiji (Hitotsubashi University, Japan)

Voluntary contribution to public goods: a non-

experimental evidence from the electricity usage after the Fukushima nuclear disaster

Recent developments in nonparametric and semiparametric methods Organizer: Ichimura, Hidehiko

Level 4, Pelican

8:30 - 9 am

Kato, Kengo (University of Tokyo, Japan; [email protected]) Chernozhukov, Victor (Massachusetts Institute of Technology, USA) Chetverikov, Denis (University of California at Los Angeles, USA)

Gaussian approximations and multiplier bootstrap for maxima of sums of high-dimensional random vectors

9 - 9:30 am

Chen, Le-Yu (Academia Sinica, Taiwan; [email protected]) Lee, Sokbae (Seoul National University, Korea) Sung, Myung Jae (Hongik University, Korea)

Maximum score estimation of preference parameters for a binary choice model under uncertainty

9:30 - 10 am Shimotsu, Katsumi (University of Tokyo, Japan; [email protected]) Kasahara, Hiroyuki (British Columbia, Canada)

Testing the number of components in finite mixture

models

10 - 10:30 am Kaido, Hiroaki (Boston University, USA; [email protected])

A dual approach to inference for partially identified econometric models

Bubbles and crashes: theoretical foundation Organizer: Matsushima, Hitoshi Level 4, Toucan

8:30 - 9 am Matsushima, Hitoshi (University of Tokyo, Japan; [email protected])

Impact of financial regulation and innovation on

bubbles and crashes due to limited arbitrage: awareness heterogeneity

9 - 9:30 am Maekawa, Jun (University of Tokyo, Japan; [email protected])

Securitization and heterogeneous-belief bubbles with collateral constraints

9:30 - 10 am Hirano, Tomohiro (University of Tokyo, Japan; [email protected]) Yanagawa, Noriyuki (University of Tokyo, Japan)

Asset bubbles and bailouts

10 - 10:30 am Kikuchi, Tomoo (National University of Singapore, Singapore; [email protected]) Sakuragawa, Masaya (Keio University, Japan)

Saving boost in a bubbly economy with financial friction

Macroeconomic policies Organizer: Guo, Jang-Ting

Level 4, Oriole

8:30 - 9 am Lu, Chia-Hui (National Taipei University, Taiwan; [email protected])

Optimal fiscal policies in a fractional labor market

9 - 9:30 am

Chen, Hung-Ju (National Taiwan University, Taiwan; [email protected]) Sultana, Rezina (Indian Institute of Management Udaipur, India)

Job reservation and intergenerational transmission of

preferences

9:30 - 10 am

Shao, Lei (National University of Singapore, Singapore; [email protected]) Zhang, Jie (National University of Singapore, Singapore)

Indeterminacy and endogenous growth with

increasing returns in production and decreasing returns in education

10 - 10:30 am

Chen, Shu-Hua (National Taipei University, Taiwan; [email protected]) Guo, Jang-Ting (University of California at Riverside, USA)

Progressive taxation and macroeconomic (in)stability

with utility-generating government spending

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Asset markets and equilibrium analysis Organizer: Hara, Chiaki and Honda, Toshiki Level 4, Canary 1

8:30 - 9 am Hara, Chiaki (Kyoto University, Japan; [email protected]) Honda, Toshiki (Hitotsubashi University, Japan)

Asset demand and ambiguity aversion

9 - 9:30 am Dau, Nam Huong (BI Norwegian Business School, Norway; [email protected])

Heterogeneous beliefs and the cross-section of stock market volatilities and correlations and turnover

volatilities

9:30 - 10 am Li, Kai (Hong Kong University of Science and Technology, Hong Kong; [email protected])

Asset pricing with a financial sector

10 - 10:30 am Xu, Shaofeng (Bank of Canada, Canada; [email protected])

An equilibrium analysis of the rise in house prices and mortgage debt

Topics in trade and geography Organizer: Hsu, Wen-Tai and Peng, Shin-Kun

Level 4, Canary 2

8:30 - 9 am

Ju, Jiandong (University of Oklahoma, USA and Tsinghua University, China; [email protected]) Huang, Hanwei (London School of Economics and Political Science, UK) Yue, Vivian Z. (Federal Reserve Board, USA)

A unified model of structural adjustments and international trade: theory and evidence from China

9 - 9:30 am

Chang, Pao-Li (Singapore Management University, Singapore; [email protected]) Huang, Fali (Singapore Management University, Singapore)

Trade and divergence in education systems

9:30 - 10 am

Murata, Yasusada (Nihon University, Japan; [email protected]) Behrens, Kristian (University of Québec at Montréal, Canada) Mion, Giordano (London School of Economics and Political Science, UK) Südekum, Jens (University Duisburg-Essen Duisburg, Germany)

Trade, wages, and productivity

10 - 10:30 am

Naghavi, Alireza Jay (University of Bologna, Italy; [email protected]) Peng, Shin-Kun (Academia Sinica, Taiwan) Tsai, Yingyi (National University of Kaohsiung, Taiwan)

Outsourcing, relationship-specific investments, and

supplier heterogeneity

Dynamic panel data methods Organizer: Kiviet, Jan F. Level 4, Bluebird

8:30 - 9 am Yang, Zhenlin (Singapore Management University, Singapore; [email protected])

Unified QML estimation of dynamic models with short

panels

9 - 9:30 am

An, Xudong (San Diego State University, USA; [email protected]) Deng, Yongheng (National University of Singapore, Singapore) Fisher, Jeffrey D. (Indiana University, USA) Hu, Rong Maggie (National University of Singapore, Singapore)

Commercial real estate rental index: a dynamic panel

data model estimation

9:30 - 10 am

Poldermans, Rutger (University of Amsterdam, Netherlands; [email protected]) Bun, Maurice (University of Amsterdam, Netherlands)

Weak identification robust inference in dynamic panel

data models

10 - 10:30 am

Kiviet, Jan F. (Nanyang Technological University, Singapore; [email protected]) Pleus, Milan (University of Amsterdam, Netherlands) Poldermans, Rutger (University of Amsterdam, Netherlands)

Accuracy and efficiency of various GMM inference

techniques in dynamic micro panel data models

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Foundations of game theory Organizer: Friedenberg, Amanda

Level 4, Nightingale

8:30 - 9 am

Green, Edward (Pennsylvania State University, USA; [email protected]) Borhani, Fatemeh (Pennsylvania State University, USA)

Maximizing posterior subjective expected utility

9 - 9:30 am Catonini, Emiliano (Bocconi University, Italy; [email protected])

Cautiousness, lexicographic beliefs and iterated admissibility

9:30 - 10 am Murayama, Kota (Hitotsubashi University, Japan; [email protected])

Robust predictions under finite depth of reasoning

10 - 10:30 am Friedenberg, Amanda (Arizona State University, USA; [email protected] Brandenburger, Adam (New York University, USA)

Finite-order reasoning

Topics in econometrics I Chair: Ham, John

Level 4, Hummingbird

8:30 - 9 am Kim, Bo Min (University of Southern California, USA; [email protected])

Do developmental mathematics courses develop the mathematics? Addressing missing outcome problem in

regression discontinuity design

9 - 9:30 am Misaki, Hiroumi (University of Tokyo, Japan; [email protected]) Kunitomo, Naoto (University of Tokyo, Japan)

On robust properties of the SIML estimation of volatility under micro-market noise and random

sampling

9:30 - 10 am Kano, Shigeki (Osaka Prefecture University, Japan; [email protected])

Nonlinear simultaneous equations approach for panel

Markov dynamic probit models with unrestricted error covariance

10 - 10:30 am

Zhang, Yichong (Duke University, USA; [email protected]) D'haultfoeuille, Xavier (Centre de Recherche en Economie et Statistique, France) Maurel, Arnaud (Duke University, USA)

Extremal quantile regression for sample selection models, with an application to black-white wage gap

Topics in microeconomics I Chair: Nahata, Babu

Level 4, Sharma

8:30 - 9 am

Nahata, Babu (University of Louisville, USA; [email protected]) Fernandez, Jose (University of Louisville, USA) Chao, Yong (University of Louisville, USA)

Pay-what-you-want : a competitive behavior pricing strategy

9 - 9:30 am

Resende, Joana (University of Porto, Portugal; [email protected]) Esteves, Rosa-Branca (Universidade do Minho and NIPE, Portugal)

On price discrimination through target advertising

9:30 - 10 am

Su, Tong (Toulouse School of Economics, France; [email protected]) Lukyanov, Georgy Andreevich (Toulouse School of Economics, France)

Coordination frictions and public communication

10 - 10:30 am Kóczy, László (Hungarian Academy of Sciences, Hungary; [email protected])

Coalitionally stable networks

15

Parallel Sessions Saturday, 3 August, 11 am - 1 pm

15

Economics of organization Organizer: Chan, Jimmy Level 2, Veranda 1

11 - 11:30 am

Wong, Chi Leung Adam (Shanghai University of Finance and Economics, China; [email protected]) Shneyerov, Artyom (Concordia University, Canada)

Price discovery in a matching and bargaining market

with aggregate uncertainty

11:30 am - 12 pm

Li, Wei (University of British Columbia, Canada; [email protected])

On the design of implicit incentives

12 - 12:30 pm Li, Jianpei (University of International Business and Economics, China; [email protected]) Schweinzer, Paul (University of York, UK)

A simple scapegoat mechanism implementing efficient

team production

12:30 - 1 pm Weng, Xi (Peking University, China; [email protected]) Li, Siguang (Peking University, China)

Bidding for authority

Non\Semi-parametric methods II Chair: Toh, Mun Heng

Level 2, Veranda 2

11 - 11:30 am Chen, Jia (University of Queensland, Australia; [email protected])

Nonparametric specification testing in nonlinear and nonstationary time series models

11:30 am - 12 pm

Toh, Mun Heng (National University of Singapore, Singapore; [email protected])

An alternative statistical inference framework for

quantile regression: linear programming estimators

12 - 12:30 pm Sim, Nicholas (University of Adelaide, Australia; [email protected])

Modeling the dependence between quantiles: an

application to the money-output relationship

12:30 - 1 pm

Effraimidis, Georgios (University of Southern Denmark, Denmark; [email protected]) Dahl, Christian Moeller (University of Southern Denmark, Demark)

Nonparametric regression under fixed and random

censoring with an application to wind power production modelling and forecasting

Education and gender Chair: Liu, Haoming

Level 2, Veranda 3

11 - 11:30 am Griffen, Drew (University of Tokyo, Japan; [email protected])

Evaluating the effects of child care policies on children’s cognitive development and maternal labor

supply

11:30 am - 12 pm

Liu, Haoming (National University of Singapore, Singapore; [email protected])

The intergenerational effect of building new schools

12 - 12:30 pm Wang, Qing (University of Illinois at Urbana-Champaign, USA; [email protected])

Child gender and parental investment in childhood:

evidence from China

12:30 - 1 pm Pal, Sarmistha (University of Surrey, UK; [email protected]) Saha, Bibhas (University of East Anglia, UK)

Household income, school expenditure and private school heterogeneity: theory and evidence

Chinese financial markets Organizer: Zhu, Xiaoneng; Chair: Niu, Linlin Level 3, Paradiso

11 - 11:30 am Niu, Linlin (Xiamen University, China; [email protected]) Huang, Shicheng (Xiamen University, China)

A flattening power on the US yield curve: the RMB

appreciation pressure

11:30 am - 12 pm

Siddiqui, Martin (Zeppelin University Friedrichshafen, Germany; [email protected]) Fidrmuc, Jarko (Zeppelin University Friedrichshafen and CESifo Munich, Germany)

Exchange rate policy in China after the financial crisis:

a leopard never changes his spots

12 - 12:30 pm Wu, Guiying (Laura) (Nanyang Technological University, Singapore; [email protected]) Song, Zheng (Michael) (University of Chicago, USA)

A structural estimation on capital market distortions

in Chinesemanufacturing

16


16

Financial econometrics I Organizer: Yu, Jun Level 3, Swallow

11 - 11:30 am

Ning, Cathy (Ryerson University, Canada; [email protected]) Xu, Dinghai (University of Waterloo, Canada) Wirjanto, Tony S. (University of Waterloo, Canada)

Modeling asymmetric volatility clusters using copulas

and high frequency data

11:30 am - 12 pm

Martins-Filho, Carlos (University of Colorado and IFPRI, USA; [email protected]) Yao, Feng (West Virginia University and IFPRI, USA) Torero, Maximo (IFPRI, USA)

Nonparametric estimation of conditional value-at-risk

and expected shortfall based on extreme value theory

12 - 12:30 pm Mariano, Roberto S. (University of Pennsylvania, USA and Singapore Management University, Singapore; [email protected])

High-mixed-frequency dynamic latent factor

forecasting models for GDP and inflation in Southeast Asia

12:30 - 1 pm Yu, Jun (Singapore Management University, Singapore; [email protected])

Testing for multiple bubbles

Estimation and inference on sets and boundaries Organizer: Armstrong, Timothy and Hong, Han Level 3, Lyrebird

11 - 11:30 am

Hong, Han (Stanford University, USA; [email protected]) Bajari, Patrick (University of Minnesota, USA) Park, Minjung (University of California at Berkeley, USA) Town, Robert (University of Pennsylvania, USA)

Estimating price sensitivity of economic agents using

discontinuity in nonlinear contracts

11:30 am - 12 pm

Chan, Hock Peng (National University of Singapore, Singapore; [email protected]) Armstrong, Timothy (Yale University, USA)

Multiscale adaptive inference on conditional moment inequalities

12 - 12:30 pm Armstrong, Timothy (Yale University, USA; [email protected])

On the choice of test statistic for conditional moment

inequalities

12:30 - 1 pm Dong, Yingying (University of California at Irvine, USA; [email protected])

Regression discontinuity without the discontinuity

Empirical health and labor economics Organizer: Kan, Kamhon

Level 3, Falcon

11 - 11:30 am Pantano, Juan (Washington University in St. Louis, USA; [email protected])

The demographic consequences of gender selection technology

11:30 am - 12 pm

Ong, EeCheng (National University of Singapore, Singapore; [email protected])

Affirmative action and sector selection: Malaysia's New Economic Policy

12 - 12:30 pm

Chen, Stacey H. (Academia Sinica, Taiwan; [email protected]) Chen, Yenchien (National Chi Nan University, Taiwan) Liu, Jin-tan (National Taiwan University and NBER, Taiwan)

Extensive and intensive margins of family

compositional effects on education

12:30 - 1 pm Kan, Kamhon (Academia Sinica, Taiwan; [email protected])

The impact of education on mortality: identification

based on compulsory education laws

Inequality Chair: Pistolesi, Nicolas

Level 4, Kingfisher

11 - 11:30 am Kong, Yu-Chien (University of Iowa, USA; [email protected])

Federal aid and U.S. earnings inequality

11:30 am - 12 pm

Guo, Naijia (University of Pennsylvania, USA; [email protected])

The effect of business cycle on schooling, employment and income

12 - 12:30 pm Pistolesi, Nicolas (Toulouse School of Economics, France; [email protected])

Income and consumption risk: evidence from France

12:30 - 1 pm Ho, Anson T. Y. (Kansas State University, USA; [email protected]) Polgreen, Linnea Ann (University of Iowa, USA)

Health insurance and the college premium

17


17

Recent developments in panel data analysis Organizer: Ichimura, Hidehiko Level 4, Pelican

11 - 11:30 am

Jin, Sainan (Singapore Management University, Singapore; [email protected]) Su, Liangjun (Singapore Management University, Singapore)

Specification test for panel data models with

interactive fixed effects

11:30 am - 12 pm

Sasaki, Yuya (Johns Hopkins University, USA; [email protected]) Hu, Yingyao (Johns Hopkins University, USA)

Recovering the true distribution of self reports: true

years of education revealed from sibling panel data

12 - 12:30 pm Hayakawa, Kazuhiko (Hiroshima University, Japan; [email protected])

Improved GMM estimation of panel VAR models

12:30 - 1 pm Jochmans, Koen (Science-Po, France; [email protected])

Nonparametric spectral-based estimation of latent

structures

Dynamic stochastic general equilibrium models Organizer: Yang, Cheng-Chen Level 4, Toucan

11 - 11:30 am Zhu, Shenghao (National University of Singapore, Singapore; [email protected])

Bequest motives, estate taxes, and wealth

distributions in Becker-Tomes models with investment risk

11:30 am - 12 pm

Kumru, Cagri (Australian National University, Australia; [email protected]) Piggott, John (University of New South Wales, Australia) Thanopoulos, Athanasios (University of Athens, Greece)

Resource testing and self-control problems

12 - 12:30 pm

Hsu, Minchung (National Graduate Institute for Policy Studies, Japan; [email protected]) Hansen, Gary (University of California at Los Angeles, USA) Lee, Junsang (Sungkyunkwan University, Korea)

Revisiting tax policy on employer-sponsored health

insurance: redistribution effects and potential reforms

12:30 - 1 pm Tkachenko, Denis (National University of Singapore, Singapore; [email protected]) Qu, Zhongjun (Boston University, USA)

Local and global parameter identification in DSGE models allowing for indeterminacy

Monetary policy Chair: Manopimoke, Pym

Level 4, Oriole

11 - 11:30 am Manopimoke, Pym (University of Kansas, USA; [email protected])

The output Euler equation and real interest rate regimes

11:30 am - 12 pm

Melo, Luis F. (Banco de la Republica, Colombia; [email protected]) Loaiza, Ruben (Banco de la Republica, Colombia)

Latin American exchange rate dependencies: a regular vine copula approach

12 - 12:30 pm Siklos, Pierre L. (Wilfrid Laurier University, Canada; [email protected])

The global financial crisis and central bank speak: central bank guidance in good times and in bad

12:30 - 1 pm Li, Bing (Tsinghua University, China; [email protected]) Liu, Qing (Tsinghua University, China)

Characterizing monetary policy behavior in China: a Bayesian DSGE approach

Competition policy Organizer: Wright, Julian (this session is co-organized with the Competition Commission of Singapore) Level 4, Canary 1

11 - 11:30 am Fung, Herbert (Competition Commission Singapore, Singapore; [email protected])

Unilateral conduct – the balance of over- and under-enforcement risks

11:30 am - 12 pm

Molnar, Jozsef (EU DG-Competition; [email protected])

Empirical tools for unilateral effects evaluations in mergers

12 - 12:30 pm Arai, Koki (Japan Fair Trade Commission, Japan; [email protected])

Cartel identification by price analysis

18


18

Topics in urban and regional economics Organizer: Hsu, Wen-Tai and Peng, Shin-Kun Level 4, Canary 2

11 - 11:30 am

Lee, Sanghoon (University of British Columbia, Canada; [email protected]) Lin, Jeffrey (Federal Reserve Bank of Philadelphia, USA)

Natural amenities and neighborhood income dynamics

11:30 am - 12 pm

Mori, Tomoya (Kyoto University, Japan; [email protected]) Hsu, Wen-Tai (Singapore Management University, Singapore) Smith, Tony E. (University of Pennsylvania, USA)

Industrial location and city size: does space matter?

12 - 12:30 pm

Fu, Yuming (National University of Singapore, Singapore; [email protected]) Liang, Lanfeng (National University of Singapore, Singapore)

Local taxes and public good choice in a spatial equilibrium model - implications for urban growth

pattern in China

Globalization and economic growth I Organizer: Kikuchi, Tomoo and Vachadze, George Level 4, Bluebird

11 - 11:30 am Yanagawa, Noriyuki (University of Tokyo, Japan; [email protected]) Hirano, Tomohiro (University of Tokyo, Japan)

Globalization and asset bubbles

11:30 am - 12 pm

Vachadze, George (City University of New York, USA; [email protected]) Kikuchi, Tomoo (National University of Singapore, Singapore)

Financial market globalization and ranking reversals

12 - 12:30 pm Park, JungJae (National University of Singapore, Singapore; [email protected])

Sovereign default risk and business cycles of

emerging economies: boom-bust cycles

12:30 - 1 pm

Fesselmeyer, Eric (National University of Singapore, Singapore; [email protected]) Mirman, Leonard J. (University of Virginia, USA) Santugini, Marc (HEC Montréal, Canada)

International risk sharing with market segmentation

Mathematical economics Chair: Green, Edward


11 - 11:30 am

Sun, Yeneng (National University of Singapore, Singapore; [email protected]) Duffie, Darrell (Stanford University, USA)Qiao, Lei (National University of Singapore, Singapore)

Independent random matching with directed probabilities

11:30 am - 12 pm

Sun, Xiang (National University of Singapore, Singapore; [email protected]) He, Wei (National University of Singapore, Singapore) Sun, Yeneng (National University of Singapore, Singapore)

Modeling infinitely many agents

12 - 12:30 pm Shao, Ran (Yeshiva University, USA; [email protected]) Zhou, Lin (Shanghai Jiao Tong University, China)

Optimal provision of a non-excludable public good

12:30 - 1 pm Hayashi, Takashi (University of Glasgow, UK; [email protected])

Consumer surplus analysis under uncertainty: a general equilibrium perspective

Macroeconomics and policy Chair: Bodenstein, Martin

Level 4, Hummingbird

11 - 11:30 am

Zlate, Andrei (Board of Governors of the Federal Reserve System, USA; [email protected]) Mandelman, Federico (Federal Reserve Bank of Atlanta, USA)

Offshoring, low-skilled immigration and labor market polarization

11:30 am - 12 pm

Zhang, Pengfei (Peking University, China; [email protected])

Capital augmenting technical change and time-

varying labor share

12 - 12:30 pm Zhang, Rui (Toulouse School of Economics, France; [email protected])

Exposure to new wave of offshoring, unemployment

and welfare

12:30 - 1 pm Tang, Yang (Washington University in St. Louis, USA; [email protected] )

Buy thy real estates: rural-urban migration, structural

change, and housing price hike in China

19


19

Garriga, Carlos (Federal Reserve Bank of St. Louis, USA) Wang, Ping (Washington University in St. Louis and NBER, USA)

Topics in macroeconomics I Chair: Kapur, Basant Level 4, Sharma

11 - 11:30 am Hernandez Vega, Marco Aurelio (Banco de Mexico, Mexico; [email protected])

Real exchange rate variations, nontraded goods and

disaggregated CPI data

11:30 am - 12 pm

Yamamoto, Yohei (Hitotsubashi University, Japan; [email protected])

Forecasting with non-spurious factors in U.S. macroeconomic time series

12 - 12:30 pm

Nguyen, Viet Hoang (University of Melbourne, Australia; [email protected]) Greenwood-Nimmo, Matthew (University of Leeds, UK) Shin, Yongcheol (University of York, UK)

Measuring the connectedness of the global economy

12:30 - 1 pm Vu, Tuan Khai (Meisei University, Japan; [email protected] )

Exchange rate regimes and the sources of real

exchange rate fluctuations: evidence from East Asia

20

Parallel Sessions Saturday, 3 August, 2 - 4 pm

20

Empirical labor economics Organizer: Kan, Kamhon and Pan, Jessica Level 2, Veranda 1

2 - 2:30 pm

Wong, Wei-Kang (National University of Singapore, Singapore; [email protected]) Pan, Jessica (National University of Singapore, Singapore)

Do firms use coarse heuristic thinking? Evidence from

the entry labor market

2:30 - 3 pm

Ham, John (University of Maryland,College Park, USA and National University of Singapore, Singapore; [email protected]) Johannson, Per (Uppsala University, Sweden, IFAU, Sweden and IZA, Germany) Lalonde, Robert J. (University of Chicago, USA and IZA, Germany) Li, Xianghong (York University, Canada)

Cross atlantic differences in estimating dynamic

training effects

3 - 3:30 pm

Li, Li (National University of Singapore, Singapore; [email protected]) Liu, Haoming (National University of Singapore, Singapore)

New cooperative medical scheme and health

expenditure in rural China

3:30 - 4 pm Wee, Shu Lin (University of Maryland, College Park, USA; [email protected])

Born under a bad sign: the cost of entering the job

market during a recession

Micro-econometric models with latent variables Organizer: Hu, Yingyao; Chair: Xu, Haiqing

Level 2, Veranda 2

2 - 2:30 pm Wang, Chien-Ho (National Taipei University, Taiwan; [email protected])

New dynamic hedge model with futures: Kalman filter error correction approach

2:30 - 3 pm

Jiang, Yajing (Johns Hopkins University, USA; [email protected]) Bush, Ryan (Johns Hopkins University, USA) Hu, Yingyao (Johns Hopkins University, USA)

On misclassification errors in self-reported drug use

3 - 3:30 pm

Xu, Haiqing (University of Texas at Austin, USA; [email protected]) Liu, Nianqing (Pennsylvania State University, USA) Vuong, Quang (New York University, USA)

Rationalization and nonparametric identification of discrete games with correlated types

3:30 - 4 pm Liao, Jen-Che (University of Wisconsin-Madison, USA and Academia Sinica, Taiwan; [email protected])

Estimation in triangular models of binary response

under quantile restrictions

Contract theory and mechanism design Chair: Hu, Tai-Wei Level 2, Veranda 3

2 - 2:30 pm Kojima, Naoki (Otaru University of Commerce, France; [email protected])

Mechanism design to the budget constrained buyer: a

canonical mechanism approach

2:30 - 3 pm Kokovin, Sergey (Novosibirsk State University, Sobolev Institute of mathematics, NRU Higher School of Economics, Russia; [email protected])

Distortion in screening and spatial preferences

3 - 3:30 pm Ke, Rongzhu (Chinese University of Hong Kong, Hong Kong; [email protected])

A general solution method to moral hazard problems

3:30 - 4 pm

Kucuksenel, Serkan (Middle East Technical University, Turkey; [email protected]) Kanik, Zafer (Middle East Technical University, Turkey)

Implementation of the maximum sustainable yield

under an age-structured model

Behavioral economics I Organizer: Meng, Juanjuan Level 3, Paradiso

2 - 2:30 pm Lien, Jaimie (Tsinghua University, China; [email protected]) Zheng, Jie (Tsinghua University, China)

Brain food is not health food in the field: limited self-

control and food choice under academic pressure

2:30 - 3 pm

Nguyen, Quang (Nanyang Technological University, Singapore; [email protected]) Villevalb, Marie Claire (GATE University of Lyon 2, France) Xu, Hui (Beijing Norman University, China)

Trust and trustworthiness under the prospect theory

and quasi-hyperbolic preferences: a field experiment in Vietnam

3 - 3:30 pm Shachat, Jason (Xiamen University, China; [email protected])

Auctioning the right to play ultimatum games and the impact on equilibrium selection

21


21

Swarthout, J. Todd (Georgia State University, USA)

3:30 - 4 pm Meng, Juanjuan (Peking University, China; [email protected])

Can prospect theory explain the disposition effect? A new perspective on reference points

Financial econometrics II Chair: Mariano, RobertoS. Level 3, Swallow

2 - 2:30 pm

Yan, Yang (London School of Economics and Political Science, UK; [email protected]) Shang, Dajing (London School of Economics and Political Science, UK) Linton, Oliver (University of Cambridge, UK)

Efficient estimation of conditional risk measures in a semiparametric GARCH model

2:30 - 3 pm

Detering, Nils (Frankfurt School of Finance and Management, Germany; [email protected]) Packham, Natalie (Frankfurt School of Finance and Management, Germany)

Measuring the model risk of contingent claims

3 - 3:30 pm Yen, Yu-Min (Academia Sinica, Taiwan; [email protected])

Sparse weighted norm minimum variance portfolio

3:30 - 4 pm

Koo, Hyeng Keun (Ajou University, Korea; [email protected]) Dybvig, Philip A. (Washington University, USA) Jang, Bon-Gyu (POSTECH, Korea)

A utility model of learning how to consume effectively

Panel data analysis Organizer: Li, Tong Level 3, Lyrebird

2 - 2:30 pm

Bonhomme, Stephane (CEMFI, Spain; [email protected]) Arellano, Manuel (CEMFI, Spain) Blundell, Richard (University College London, UK)

Nonlinear permanent-transitory models of household

income

2:30 - 3 pm

Carro, Jesús (Carlos III Madrid, Spain; [email protected]) Carrasco, Raquel (Universidad Carlos III de Madrid, Spain) Albarran, Pedro (Universidad de Alicante, Spain)

Estimation of nonlinear models with unbalanced

panels

3 - 3:30 pm

Lee, Myoung-jae (Korea University, Korea; [email protected]) Kim, Young-sook (Korean Women's Development Institute, Korea)

Difference in differences for stayers and movers with a time-varying qualification

3:30 - 4 pm Rosen, Adam (University College London, UK; [email protected])

Bounds for binary panel data models with fixed effects

Industrial organization I Organizer: Su, Che-Lin; Chair: Yang, Nan

Level 3, Falcon

2 - 2:30 pm

Lai, Zhenyu (Harvard University, USA; [email protected]) Egesdal, Michael (Harvard University, USA) Su, Che-Lin (University of Chicago, USA)

Estimating dynamic discrete-choice games of incomplete information

2:30 - 3 pm

Huang, Ching-I (National Taiwan University, Taiwan; [email protected]) Chiang, Chun-Fang (National Taiwan University, Taiwan) Lien, Hsien-Ming (National Cheng-Chi University, Taiwan)

Competition of talk show programs in Taiwan

3 - 3:30 pm

Yang, Nan (National University of Singapore, Singapore; [email protected]) Abbring, Jaap (Tilburg University, Netherlands) Campbell, Jeffrey (Federal Reserve Bank of Chicago, USA) Tilly, Jan (University of Pennsylvania, USA)

Very simple Markov-perfect industry dynamics

3:30 - 4 pm

Hashmi, Aamir Rafique (National University of Singapore, Singapore; [email protected]) Shen, Qiaowei (University of Pennsylvania, USA) Xiao, Ping (National University of Singapore, Singapore)

Are there spillovers from the rival? Evidence from

entry and expansion of KFC and McDonald's in the Chinese fast food market

22


22

Unemployment Chair: Zhang, Min Level 4, Kingfisher

2 - 2:30 pm Zhang, Min (Shanghai University of Finance and Economics, China; [email protected]) Faig, Miquel (University of Toronto, Canada)

Effects of extended unemployment benefits on labor

dynamics

2:30 - 3 pm Hara, Hiromi (Japan Women's University, Japan; [email protected])

The impact of firm-provided training on productivity, wages, and transition to regular employment

3 - 3:30 pm Choi, Eleanor Jawon (Hanyang University, Korea; [email protected])

Does the internet help the unemployed find jobs?

3:30 - 4 pm Zhang, Yahong (Bank of Canada, Canada; [email protected])

Unemployment fluctuations in an SOE model with

segmented labour markets: the case of Canada

Recent developments in program evaluation methods Organizer: Ichimura, Hidehiko Level 4, Pelican

2 - 2:30 pm

Ichimura, Hidehiko (University of Tokyo, Japan; [email protected]) Arai, Yoichi (National Graduate Institute for Policy Studies, Japan)

Bandwidth selection for differences of nonparametric

estimators with an application to the regression discontinuity design

2:30 - 3 pm

Hsu, Yu-Chin (Academia Sinica, Taiwan; [email protected]) Donald, Stephen G. (University of Texas at Austin, USA) Lieli, Robert P. (Central European University, Budapest and National Bank of Hungary, Hungary)

Testing the unconfoundedness assumption via inverse probability weighted estimators of (L)ATT

3 - 3:30 pm Kitagawa, Toru (University College London, UK; [email protected]) Muris, Chris (Simon Fraser University, Canada)

Covariates selection and model averaging in semiparametric estimation of treatment effects

3:30 - 4 pm

Lu, Xun (Hong Kong University of Science and Technology, Hong Kong; [email protected]) White, Halbert (University of California at San Diego, USA)

Testing for treatment dependence of effects of a

continuous treatment

Fiscal policy Chair: Chen, Been-Lon

Level 4, Toucan

2 - 2:30 pm Yuki, Kazuhiro (Kyoto University, Japan; [email protected])

Mechanization, task assignment, and inequality

2:30 - 3 pm Chen, Been-Lon (Academia Sinica, Taiwan; [email protected]) Lai, Chih-Fang (National Taiwan University, Taiwan)

Policy analysis in a search model with endogenous participation

3 - 3:30 pm Wang, Ruixin (Tilburg University, Netherlands; [email protected])

Dress-up contest: a dark side of fiscal decentralization

3:30 - 4 pm Wittmann, Nils (TU Dortmund University, Germany; [email protected])

Fiscal spending shocks, abnormal stock returns and the fiscal multiplier

Government policy and redistribution Chair: Hendren, Nathaniel Level 4, Oriole

2 - 2:30 pm Hendren, Nathaniel (Harvard University, USA; [email protected])

The policy elasticity

2:30 - 3 pm

Roberts, Joanne (University of Calgary, Canada; [email protected]) Mongrain, Steeve (Simon Fraser University, Canada) Cuff, Katherine (McMaster University, Canada)

Dual corporate tax evasion

3 - 3:30 pm Qian, Jiwei (National University of Singapore, Singapore; [email protected])

Median voter’s beliefs and redistributive policies: evidence on public health expenditure from 62

countries

3:30 - 4 pm

Oh, Catherine (KIEP, Korea; [email protected]) Ishimaru, Shoya (University of Tokyo, Japan) Sim, Seung-Gyu (Andrew) (University of Tokyo, Japan)

Political conflicts and welfare dynamics of trade

liberalization

23


23

Advances in contest theory Organizer: Fu, Qiang and Lu, Jingfeng Level 4, Canary 1

2 - 2:30 pm Parreiras, Sergio O. (University of North Carolina at Chapel Hill, USA; [email protected]) Joffrion, Justin (United States Air Force, USA)

A tortoise and a hare race, part II: infinite horizon

2:30 - 3 pm

Segev, Ella (Ben-Gurion University of the Negev, Israel; [email protected]) Sela, Aner (Ben-Gurion University of the Negev, Israel)

Multi-stage all-pay auctions

3 - 3:30 pm Gong, Qiang (Southwestern University of Finance and Economics, China; [email protected]) Sui, Yong (Shanghai Jiao Tong University, China)

All-pay auctions with private values and resale

3:30 - 4 pm

Pérez-Castrillo, David (Universitat Autònoma de Barcelona and MOVE, Spain; [email protected]) Wettstein, David (Ben-Gurion University of the Negev, Israel)

Innovation contests

Firm behavior, urban development and social conflict Organizer: Du, Julan; Chair: Wang, Jin

Level 4, Canary 2

2 - 2:30 pm

Wang, Jin (Hong Kong University of Science and Technology, Hong Kong; [email protected]) Kim, Byung-Yeon (Seoul National University, Korea) Xu, Chenggang (University of Hong Kong, Hong Kong)

Comparison of determinants of firm performance in China and Eastern Europe

2:30 - 3 pm Kumar, Dushyant (Indian Statistical Institute, India; [email protected])

Social conflict

Globalization and economic growth II Organizer: Kikuchi, Tomoo

Level 4, Bluebird

2 - 2:30 pm

Tsuruga, Takayuki (Kyoto University, Japan; [email protected]) Katagiri, Mitsuru (Bank of Japan, Japan) Kato, Ryo (Bank of Japan, Japan)

Prudential capital controls: the impact of different collateral constraint assumptions

2:30 - 3 pm

Morimoto, Keiichi (Meisei University, Japan; [email protected]) Hori, Takeo (Aoyama Gakuin University, Japan) Maebayashi, Noritaka (Osaka University, Japan) Futagami, Koichi (Osaka University, Japan)

Macroeconomic stability and welfare under fiscal

discipline in a small open economy

3 - 3:30 pm Chang, Chia-Ying (Victoria University of Wellington, New Zealand; [email protected])

Capital controls, capital flows, and banking crises

Topics in game theory I Organizer: Chen, Yi-Chun and Luo, Xiao Level 4, Nightingale

2 - 2:30 pm Yang, Chih-Chun (Academia Sinica, Taiwan; [email protected])

Networks of favor exchange

2:30 - 3 pm

Wang, Ben (National University of Singapore, Singapore; [email protected]) Luo, Xiao (National University of Singapore, Singapore)

Epistemic conditions of MACA

3 - 3:30 pm Tang, Qianfeng(Shanghai University of Finance and Economics, China; [email protected])

Top trading cycles under general capacities: acharacterization

3:30 - 4 pm Xue, Jingyi (Singapore Management University, Singapore; [email protected])

Fair division with probabilistic demand

24


24

Financial economics Chair: Anderson, Robert Level 4, Hummingbird

2 - 2:30 pm

Anderson, Robert (University of California at Berkeley, USA; [email protected]) Bianchi, Stephen (University of California at Berkeley, USA) Goldberg, Lisa (University of California at Berkeley, USA)

In search of a statistically valid volatility risk factor

2:30 - 3 pm

Bidian, Florin (Georgia State University, USA; [email protected]) Subramanian, Ajay (Georgia State University, USA) Yang, Baozhong (Georgia State University, USA)

Product variety and asset pricing

3 - 3:30 pm Zhang, Xiaolan (University of California at Los Angeles, USA; [email protected])

Intra-firm risk sharing and firm-level cash flow

volatility

3:30 - 4 pm Chuang, Hongwei (Academia Sinica, Taiwan; [email protected]) Ho, Hwai-Chung (Academia Sinica, Taiwan)

Implied price risk and momentum strategy

Topics in macroeconomics II Chair: Fidrmuc, Jarko Level 4, Sharma

2 - 2:30 pm Sidorov, Alexander (NRU Higher School of Economics, Russia; [email protected])

Endogenous 2D-structure of polycentric urban areas

2:30 - 3 pm Fidrmuc, Jarko (ZU Friedrichshafen, Germany; [email protected])

Financing conditions at the firm-level: firm-specific shocks and aggregate profitability

3 - 3:30 pm Liu, Yan (Stony Brook University, USA; [email protected])

Bank competition and lending policy over business cycles

3:30 - 4 pm Wieland, Elisabeth (University of Munich, Germany; [email protected])

Synchronization and changes in international inflation uncertainty

25

Parallel Sessions Saturday, 3 August, 4:30 - 6:30 pm

25

Industrial organization II Organizer: Fong, Pohan; Chair: Au, Pak Hung Level 2, Veranda 1

4:30 - 5 pm

Shen, Bo (National University of Singapore, Singapore; [email protected]) Ko, Chiu Yu (National University of Singapore, Singapore)

Multi-platform competition and market dominance in

two-sided market

5 - 5:30 pm Au, Pak Hung (Shanghai University of Finance and Economics, China; [email protected])

Dynamic information disclosure

5:30 - 6 pm Zudenkova, Galina (University of Mannheim, Germany; [email protected])

Political competition in hard times

6 - 6:30 pm Komatsubara, Takashi (Kyoto University, Japan; [email protected]) Yano, Makoto (Kyoto University, Japan)

Price competition or price leadership

Stochastic frontier model estimation Organizer: Wang, Hung-Jen Level 2, Veranda 2

4:30 - 5 pm

Tsay, Wen-Jen (Academia Sinica, Taiwan; [email protected]) Amsler, Christine (Michigan State University, USA) Schmidt, Peter (Michigan State University, USA)

A post-truncation parameterization of truncated

normal technical inefficiency

5 - 5:30 pm Lai, Hung-Pin (National Chung Cheng University, Taiwan; [email protected])

The stochastic frontier model with firm-heterogeneity

and dynamic technical inefficiency

5:30 - 6 pm

Lin, Chang-Ching (Academia Sinica, Taiwan; [email protected]) Hsu, Chih-Chiang (National Central University, Taiwan) Yin, Shou-Yung (National Central University, Taiwan)

Estimation of stochastic frontier model with

unobserved common shocks via the EM algorithm

6 - 6:30 pm Wang, Hung-Jen (National Taiwan University, Taiwan; [email protected]) Chen, Yi-Ting (Academia Sinica, Taiwan)

Within moment estimators for fixed-effect stochastic frontier models

Industrial organization III Chair: Yoo, Seung Han Level 2, Veranda 3

4:30 - 5 pm Zeng, Chenhang (Shandong University, China; [email protected]) Lin, Junshan (Shandong University, China)

Advance selling of new products with information

control

5 - 5:30 pm Yoo, Seung Han (Korea University, Korea; [email protected].)

Corruption and institutional design

5:30 - 6 pm Mishra, Ajit (University of Bath, UK; [email protected]) Mookherjee, Dilip (Boston University, USA)

Controlling collusion and extortion: the twin faces of

corruption

6 - 6:30 pm Ushchev, Philip (NRU Higher School of Economics, Russia; [email protected])

Do we go shopping downtown or to the mall? Well, why not to both?

Behavioral economics II Chair: Theseira, Walter E

Level 3, Paradiso

4:30 - 5 pm Cho, Sungjin (Seoul National University, Korea; [email protected]) Rust, John Philip (Georgetown University, USA)

Precommitments for financial self-control: evidence from credit card borrowing

5 - 5:30 pm Yuan, Jia (University of Macau, Macau; [email protected])

How much is the cost associated with the behavioral fallacy? Evidence from China individual lottery betting

data

5:30 - 6 pm

Liu, Jia (Nanyang Technological University, Singapore; [email protected]) Riyanto, Yohanes Eko (Nanyang Technological University, Singapore)

The impacts of default participation on participation

rate and contributions to public goods

6 - 6:30 pm

Theseira, Walter E (Nanyang Technological University, Singapore; [email protected]) Ong, Qiyan (Nanyang Technological University, Singapore)

Is a picture really worth a thousand words?

Investigating the relative value of appearances in an investment experiment

26


26

Superstition, cultural norms, and market outcomes Organizer: Shum, Matthew Level 3, Swallow

4:30 - 5 pm Agarwal, Sumit (National University of Singapore,

Singapore; [email protected]) Superstition in housing markets: do lucky housing

numbers really bring good luck?

5 - 5:30 pm Lee, Jungmin (Sogang University, Korea; [email protected])

How old am I? Effects of subjective age on marriage

and labor supply

5:30 - 6 pm Shum, Matthew (California Institute of Technology, USA and National University of Singapore, Singapore; [email protected])

Superstition and "Lucky" apartments: evidence from

transaction-level data

Economics of public policy issues Organizer: Quah, Euston

Level 3, Lyrebird

4:30 - 5 pm Ko, Giovanni (Nanyang Technological University, Singapore; [email protected])

Secrecy in tax enforcement

5 - 5:30 pm Li, Huailu (Boston University, USA; [email protected]) Statistical price discrimination: evidence from

commercial sex industry in singapore

5:30 - 6 pm

Lee, David (Singapore Management University, Singapore; [email protected]) Phang, Sock Yong (Singapore Management University, Singapore) Phoon, Kok Fai (Singapore Management University, Singapore) Wee, Heok Hiang Karol (EDHEC-Risk Institute, Singapore)

Evaluating the effectiveness of cooling measures on

property prices: an exploration of alternative econometric techniques

6 - 6:30 pm

Sikdar, Shiva (Keele University, UK; [email protected]) Bag, Parimal (National University of Singapore, Singapore)

Does affirmative action really benefit the poor?

Economic impacts of migration Organizer: Pan, Jessica

Level 3, Falcon

4:30 - 5 pm Pan, Jessica (National University of Singapore, Singapore; [email protected]) Cortes, Patricia (Boston University, USA)

Foreign nurse importation and the supply of native nurses

5 - 5:30 pm

Liao, Wen-Chi (National University of Singapore, Singapore; [email protected]) Fu, Yuming (National University of Singapore, Singapore)

What drive the geographic concentration of college

graduates in the US? Evidence from internal migration

5:30 - 6 pm Wang, Zhi (Fudan University, China; [email protected])

Smart city: learning effects and labor force entry

6 - 6:30 pm Shrestha, Slesh (National University of Singapore, Singapore; [email protected])

Sibling rivalry in education: estimating intrahousehold trade-offs using foreign labor market shocks

Quantitative methods in economic history Organizer: Dong, Baomin

Level 4, Kingfisher

4:30 - 5 pm

Dong, Baomin (Henan University, China; [email protected]) Gong, John (University of International Business and Economics, China)

Trade deficit, money outflow, and fiscal deficit in Song Dynasty

5 - 5:30 pm Zimran, Ariell (Northwestern University, USA; [email protected])

New perspectives on historical standards of living; evidence of US military enlistment in late 19th century

5:30 - 6 pm Sng, Tuan Hwee (National University of Singapore, Singapore; [email protected]) Moriguchi, Chiaki (Hitotsubashi University, Japan)

Taxation and public goods provision in China and

Japan before 1850

6 - 6:30 pm Mo, Pak-Hung (Hong Kong Baptist University, Hong Kong; [email protected])

Geography, writing system and the fates of ancient civilizations

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27

Quantile regression Organizer: Oka, Tatsushi and Yoon, Jungmo Level 4, Pelican

4:30 - 5 pm

Kaplan, David (University of Missouri, USA; [email protected]) Goldman, Matt (University of California at San Diego, USA)

IDEAL inference on conditional quantiles via

interpolated duals of exact analytic L-statistics

5 - 5:30 pm Parker, Thomas (University of Waterloo, Canada; [email protected])

Efficient combination of conditional quantiles in a

single-index model

5:30 - 6 pm Yoon, Jungmo (Claremont McKenna College, USA; [email protected])

Robust inference for panel quantile regression models

with individual fixed effects and serial correlation

6 - 6:30 pm

Oka, Tatsushi (National University of Singapore, Singapore; [email protected]) Li, Tong (Vanderbilt University, USA and National University of Singapore, Singapore)

Set identification of the censored quantile regression model for short panels with fixed effects

Macroeconomic dynamics Organizer: Zeng, Jinli and Zhang, Jie

Level 4, Toucan

4:30 - 5 pm

Wan, Jing (National University of Singapore, Singapore; [email protected]) Zhang, Jie (National University of Singapore, Singapore)

Social optimality, inflation, subsidization, and taxation in a model of growing through cycles with innovation,

investment and a cash-in-advance constraint

5 - 5:30 pm

Yew, Siew Ling (Monash University, Australia; [email protected]) Zhang, Jie (National University of Singapore, Singapore)

Socially optimal social security and public health in a dynastic model with endogenous longevity and

fertility

5:30 - 6 pm Li, Bei (University of Western Australia, Australia; [email protected])

Elastic labor with growth through cycles and

applications to public finance

Panel data models with cross section dependence Organizer: Su, Liangjun Level 4, Oriole

4:30 - 5 pm

Rodriguez-Poo, Juan M. (Universidad de Cantabria, Spain; [email protected])Soberon, Alexandra (Universidad de Cantabria, Spain)

Direct semiparametric estimation of fixed effects

panel data varying coefficient models

5 - 5:30 pm

Sarafidis, Vasilis (University of Monash, Australia; [email protected]) Robertson, Donald (University of Cambridge, UK) Yamagata, Takashi (University of York, UK)

Estimation of correlated random coefficient models for short panels with a multi-factor error structure

5:30 - 6 pm

Feng, Qu (Nanyang Technological University, Singapore; [email protected]) Baltagi, Badi H. (Syracuse University, USA) Kao, Chihwa (Syracuse University, USA)

Estimation of heterogeneous panels with structural breaks

6 - 6:30 pm

Su, Liangjun (Singapore Management University, Singapore; [email protected]) Shi, Zhentao (Yale University, USA) Phillips, Peter C. B. (Yale University, USA)

Identifying latent structures in panel data

Asymmetric information and ambiguity Organizer: Yannelis, Nicholas; Chair: Tourky, Rabee

Level 4, Canary 1

4:30 - 5 pm Ozaki, Hiroyuki (Keio University, Japan; [email protected]) Ohtaki, Eisei (Kanagawa University, Japan)

Complexity of monetary equilibria under ambiguity

5 - 5:30 pm De Castro, Luciano (Northwestern University, USA; [email protected])

Correlation of types in Bayesian games

5:30 - 6 pm

Tourky, Rabee (University of Queensland, Australia; [email protected]) Grant, Simon (University of Queensland, Australia) Meneghel, Idione (University of Queensland, Australia)

Savage games

6 - 6:30 pm

He, Wei (National University of Singapore, Singapore; [email protected]) Yannelis, Nicholas C. (University of Iowa, USA and University of Manchester, UK)

Equilibrium theory under ambiguity

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28

Financial econometrics III Chair: Li, Jia Level 4, Canary 2

4:30 - 5 pm Kunitomo, Naoto (University of Tokyo, Japan; [email protected])

The SIML estimation of integrated covariance and

hedging coefficient under micro-market noise and random sampling

5 - 5:30 pm Liu-Evans, Gareth David (University of Liverpool, UK; [email protected])

Refined estimation of parametric models by functional approximation

5:30 - 6 pm

Asai, Manabu (Soka University, Japan;[email protected]) McAleer, Michael (Erasmus University Rotterdam, Netherlands)

A fractionally integrated Wishart stochastic volatility model

6 - 6:30 pm Li, Jia (Duke University, USA; [email protected]) Patton, Andrew (Duke University, USA)

Asymptotic inference about predictive accuracy using

high frequency data

Economic growth I Chair: Sunakawa, Takeki Level 4, Bluebird

4:30 - 5 pm Saha, Anuradha (Indian Statistical Institute, India; [email protected]) Das, Satya P. (Indian Statistical Institute, India)

Non-balanced growth: the role of land

5 - 5:30 pm Liao, Junmin (Washington University in St. Louis, USA; [email protected])

The rise of service in China

5:30 - 6 pm Sunakawa, Takeki (Bank of Japan, Japan; [email protected])

Financial frictions, misallocation and structural change

6 - 6:30 pm Warusawitharana, Missaka (Board of Governors of the Federal Reserve, USA; [email protected])

Finance and productivity growth: firm-level evidence

Topics in game theory II Organizer: Chen, Yi-Chun and Luo, Xiao Level 4, Nightingale

4:30 - 5 pm Kunimoto, Takashi (Hitotsubashi University, Japan; [email protected])

Interim implementation

5 - 5:30 pm

Sun, Yifei (National University of Singapore, Singapore; [email protected]) Chen, Yi-Chun (National University of Singapore, Singapore)

Dynamic rationalizable implementation

5:30 - 6 pm Ueng, Shyh-Fang (National Chung-Cheng University, Taiwan; [email protected])

Team dynamics where followers have illusion about

guide

6 - 6:30 pm Zhou, Hao (Rice University, USA; [email protected]) Zhu, Minyan (Rice University, USA)

Referring customers under imperfect public monitoring

Topics in econometrics II Chair: Rambaldi, Alicia N. Level 4, Hummingbird

4:30 - 5 pm

Liu, Shew Fan (Singapore Management University, Singapore; [email protected]) Yang, Zhenlin (Singapore Management University, Singapore)

Asymptotic and finite sample properties of QML estimators for spatial error dependence models

5 - 5:30 pm Rambaldi, Alicia N. (University of Queensland, Australia; [email protected]) Trinh, Dung T. (University of Queensland, Australia)

Bayesian estimation of a spatial time series model

with an application to real estate modelling

5:30 - 6 pm

Magnusson, Leandro Maschietto (University of Western Australia, Australia; [email protected]) Finlay, Keith (Tulane University, USA)

Bootstrap methods for inference with cluster-sample IV models

6 - 6:30 pm Delgado, Michael S. (Purdue University, USA; [email protected])

Are there feedbacks between foreign direct investment and economic growth? A semiparametric

system of simultaneous equations analysis with instrumental variables

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29

Topics in macroeconomics III Chair: Srisuma, Sorawoot Level 4, Sharma

4:30 - 5 pm Hayakawa, Hitoshi (University of Tokyo, Japan; [email protected])

Liquidity saving mechanism under interconnected

payment network

5 - 5:30 pm Srisuma, Sorawoot (University of Cambridge, UK; [email protected])

Identification in Markov decision models

5:30 - 6 pm Nagamachi, Kohei (University of Tokyo, Japan;[email protected])

Task trade and the size distribution of cities

6 - 6:30 pm Daitoh, Ichiroh (Keio University, Japan;[email protected])

Macroeconomic dynamics of human development and

the creation of a market economy

30

Parallel Sessions Sunday, 4 August, 8:30 - 10:30 am

30

Topics in microeconomics II Organizer: Chan, Marc K. and Yu, Haomiao Level 2, Veranda 1

8:30 - 9 am Klimova, Anastasia (University of Technology Sydney, Australia; [email protected])

Does a nearby murder affect housing prices and

rents? The case of Sydney

9 - 9:30 am Chan, Marc K. (University of Technology Sydney, Australia; [email protected])

A dynamic structural analysis of welfare reform

experiments

9:30 - 10 am

Yu, Haomiao (Ryerson University, Canada; [email protected]) Zhang, Zhixiang (Central University of Finance and Economics, China)

On the centipede game in the presence of social norm

10 - 10:30 am Karakas, Leyla D. (Johns Hopkins University, USA; [email protected])

Inefficiency in common causes: a dynamic analysis of

institutional constraints

Contract and design Organizer: Quah, John

Level 2, Veranda 2

8:30 - 9 am Deb, Rahul (University of Toronto, Canada; [email protected]) Mishra, Debasis (Indian Statistical Institute, India)

Implementation with securities

9 - 9:30 am Suzuki, Yutaka (Hosei University, Japan; [email protected])

Hierarchical global pollution control in asymmetric

information environments: a continuous-type, three-tier agency framework

9:30 - 10 am

Zhou, Junjie (Shanghai University of Finance and Economics, China; [email protected]) Chen, Ying-Ju (University of California at Berkeley, USA)

The benefit of sequentiality in social networks

10 - 10:30 am Strulovici, Bruno (Northwestern University, USA; [email protected])

A foundation for renegotiation-proof contracts

Risk premia in financial markets Organizer: Fan, Jianqing and Xiu, Dacheng Level 2, Veranda 3

8:30 - 9 am Duan, Jin-Chuan (National University of Singapore, Singapore; [email protected])

Local-momentum autoregression for modeling interest

rate and term structure

9 - 9:30 am Xiu, Dacheng (University of Chicago, USA; [email protected]) Amengual, Dante (CEMFI, Spain)

Delving into risk premia: reconciling evidence from

the S&P 500 and VIX derivatives

9:30 - 10 am

Hsiao, Yu-Ling Cody (Australian National University, Australia; [email protected]) Chan, Joshua C. C. (Australian National University, Australia) Fry-McKibbin, Renee (Australian National University, Australia)

A regime switching skew-normal model for measuring financial crisis and contagion

10 - 10:30 am

Huang, Darien (University of Pennsylvania, USA; [email protected]) Shaliastovich, Ivan (University of Pennsylvania, USA)

Risk adjustment and the temporal resolution of

uncertainty: evidence from options markets

Technology, allocative efficiency, and labor productivity Organizer: Wang, Ping Level 3, Paradiso

8:30 - 9 am Song, Zheng Michael (University of Chicago, USA; [email protected]) Hsieh, Chang-Tai (University of Chicago, USA)

Grasp the large, let go of the small: the

transformation of the state sector in China

9 - 9:30 am Lee, Wen-Chieh (National Chengchi University, Taiwan; [email protected])

Misallocation and production efficiency: evidence from

the IT industries in Korea and Taiwan

9:30 - 10 am

Yip, Chong K. (Chinese University of Hong Kong, Hong Kong; [email protected]) Wang, Ping (Washington University in St. Louis and NBER, USA) Wong, Tzs Nga (Bank of Canada, Canada)

Technology assimilation and development accounting

10 - 10:30 am Wang, Yin-Chi (Chinese University of Hong Kong, Hong Kong; [email protected])

Does health matter? A quantitative analysis of cross-country income differences

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31

Behavioral industrial organization Organizer: Lee, Jihong Level 3, Swallow

8:30 - 9 am Carbajal, Juan Carlos (University of New South Wales, Australia; [email protected]) Ely, Jeffrey (Northwestern University, USA)

Optimal contracts for loss averse consumers

9 - 9:30 am

Lee, Jihong (Seoul National University, Korea; [email protected]) Hahn, Jong-Hee (Yonsei University, Korea) Kim, Jinwoo (Yonsei University, Korea) Kim, Sanghyun (Michigan State University, USA)

Screening loss averse consumers

9:30 - 10 am Rosato, Antonio (University of Technology Sydney, Australia; [email protected])

Loss aversion and the "Afternoon Effect" in sequential

auctions

10 - 10:30 am

Zhao, Xiaojian (Hong Kong University of Science and Technology, Hong Kong; [email protected]) Dessi, Roberta (Toulouse School of Economics and CEPR, France)

Self-esteem, shame and personal motivation

Empirical analysis of auction data Organizer: Li, Tong

Level 3, Lyrebird

8:30 - 9 am

Bonaldi, Pietro (University of Chicago, USA; [email protected]) Hortacsu, Ali (University of Chicago, USA) Kastl, Jakub (Stanford University and NBER, USA)

Empirical analysis of systemic risk in the EURO-zone

9 - 9:30 am

Gandhi, Amit (University of Wisconsin-Madison, USA; [email protected]) Aradillas, Andres (Pennsylvania State University, USA) Quint, Daniel (University of Wisconsin at Madison, USA)

Testing conditional moment inequalities with application to private value auctions

9:30 - 10 am

Gentry, Matthew (London School of Economics and Political Science, UK; [email protected]) Komarova, Tatiana (London School of Economics and Political Science, UK) Schiraldi, Pasquale (London School of Economics and Political Science, UK)

Econometric analysis of simultaneous first-price

auctions with synergies

10 - 10:30 am Groeger, Joachim (Carnegie Mellon University, USA; [email protected]) Miller, Robert A. (Carnegie Mellon University, USA)

Ascending auctions with costly monitoring

Topics in trade theory I Organizer: Chor, Davin Level 3, Falcon

8:30 - 9 am

Romalis, John (Princeton University, USA; [email protected]) Feenstra, Robert (University of California at Davis, USA)

International prices and endogenous quality

9 - 9:30 am Fabinger, Michal (Pennsylvania State University, USA; [email protected])

Trade and interdependence in a spatially complex

world

9:30 - 10 am

Hsu, Wen-Tai (Singapore Management University, Singapore; [email protected]) Holmes, Thomas J. (University of Minnesota, USA) Lee, Sanghoon (University of British Columbia, Canada)

Allocative efficiency, mark-ups, and the welfare gains

from trade

10 - 10:30 am Furusawa, Taiji (Hitotsubashi University, Japan; [email protected]) Konishi, Hideo (Boston College, USA)

International trade and income inequality

Studies of two-sided matching markets Organizer: Shum, Matthew

Level 4, Kingfisher

8:30 - 9 am Lee, SangMok (University of Pennsylvania, USA; [email protected])

Asymptotic efficiency and stability in two-sided matching

9 - 9:30 am Choo, Eugene (University of Calgary, Canada; [email protected])

Dynamic marriage matching: an empirical framework

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32

9:30 - 10 am Hsieh, Yu-wei (University of Southern California, USA; [email protected])

Identification and estimation of two-sided matching

game without transfer

10 - 10:30 am

Macho-Stadler, Ines (Universitat Autonoma de Barcelona, Spain; [email protected]) Banal-Estanol, Albert (Universitat Pompeu Fabra and City Univer, Spain) Pérez-Castrillo, David (Universitat Autonoma de Barcelona, Spain)

Endogeneous matching in university-industry

collaboration: theory and empirical evidence from the UK

Education and development Organizer: Park, Albert Level 4, Pelican

8:30 - 9 am Wang, Liang Choon (Monash University, Australia; [email protected]) Hahn, Youjin (Monash University, Australia)

Do private high schools make a difference? Learning the causal effects of private schooling from a natural

experiment in South Korea

9 - 9:30 am Han, Li (Hong Kong University of Science and Technology, Hong Kong; [email protected])

Incentivized peer interactions: evidence from a

randomized trial

9:30 - 10 am Sawada, Yasuyuki (University of Tokyo, Japan; [email protected])

Do community-managed schools facilitate social

capital accumulation? Evidence from COGES project in Burkina-Faso

10 - 10:30 am Zhang, Jane (Hong Kong University of Science and Technology, Hong Kong; [email protected])

Motivations of mothers and fathers to make

educational investments in children

Topics in macroeconomics IV Organizer: Wang, Cheng Level 4, Toucan

8:30 - 9 am Hu, Xu (Fudan University, China; [email protected])

Heterogeneous beliefs, collateralized private loans,

and speculative currency crises

9 - 9:30 am

Xu, Zhiwei (Hong Kong University of Science and Technology, Hong Kong; [email protected]) Wang, Pengfei (Hong Kong University of Science and Technology, Hong Kong) Wen, Yi (Tsinghua University, China)

Two-way capital flows and global imbalances: a

neoclassical approach

9:30 - 10 am

Yang, Youzhi (Shanghai University of Finance and Economics, China; [email protected]) Wang, Cheng (Fudan University, China and Iowa State University, USA)

Equilibrium matching and termination

10 - 10:30 am

Lukyanov, Georgy Andreevich (Toulouse School of Economics, France; [email protected]) Mengus, Eric (Toulouse School of Economics, France)

First order approach for dynamic Mirrleesian problems

Quantitative finance Organizer: Kou, Steven

Level 4, Oriole

8:30 - 9 am Dai, Min (National University of Singapore, Singapore; [email protected])

Optimal consumption and investment with asymmetric long-term/ short-term capital gains taxes

9 - 9:30 am Peng, Xianhua (Hong Kong University of Science and Technology, Hong Kong; [email protected])

The econometrics of asset pricing with spatial interaction

9:30 - 10 am

Keppo, Jussi (National University of Singapore, Singapore; [email protected]) Jokivuolle, Esa (Bank of Finland and Aalto University, Finland)

Bank compensation: sprint swimming in short bonus pools?

10 - 10:30 am He, Xuedong (Columbia University, USA; [email protected])

A 10-30 rule for hedge fund compensation

Game theory and decision making I Organizer: Fu, Haifeng and Zhang, Yongchao Level 4, Canary 1

8:30 - 9 am Rong, Kang (Shanghai University of Finance and Economics, China; [email protected])

Fair arbitration when players' preferences are

unknown

9 - 9:30 am Ke, Shaowei (Princeton University, USA; [email protected])

Consumption experimentation externality

9:30 - 10 am Jiao, Qian (Sun Yat-sen University, China; [email protected])

Asymmetric rent-seeking with two types of agents

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33

10 - 10:30 am

Fu, Haifeng (Xi'an Jiaotong-Liverpool University, China; [email protected]) Xu, Ying (National University of Singapore, Singapore) Zhang, Luyi (Morgan Stanley, UK)

Pure-strategy Nash equilibria in large games:

characterization and existence

Topics in mechanism design Organizer: Chatterji, Shurojit Level 4, Canary 2

8:30 - 9 am

Mitra, Manipushpak (Indian Statistical Institute, India; [email protected]) Chun, Youngsub (Seoul National University, Korea) Mutuswami, Suresh (University of Leicester, UK)

Reordering an existing queue

9 - 9:30 am

Mishra, Debasis (Indian Statistical Institute, India; [email protected]) Pramanik, Anup (Indian Statistical Institute, India) Roy, Souvik (Indian Statistical Institute, India)

Implementation in multidimensional domains with

ordinal restrictions

9:30 - 10 am Aney, Madhav S. (Singapore Management University, Singapore; [email protected])

Inefficiency in the shadow of unobservable

reservation payoffs

10 - 10:30 am Ju, Biung-Ghi (Seoul National University, Korea; [email protected]) Park, Junghum (Seoul National University, Korea)

Hierarchical outcomes and collusion neutrality on tree

networks

Applied game theory Organizer: Qin, Cheng-zhong Level 4, Bluebird

8:30 - 9 am

Cao, Zhigang (Chinese Academy of Sciences, China; [email protected]) Qin, Cheng-Zhong (University of California at Santa Barbara, USA and Shandong University, China) Yang, Xiaoguang (Chinese Academy of Sciences, China) Zhang, Boyu (Beijing Normal University, China)

Causes of fashion cycles: a heterogeneous network

game perspective

9 - 9:30 am Kim, Jin Yeub (University of Chicago, USA; [email protected])

Endogenous choice of a mediator

9:30 - 10 am Watanabe, Naoki (University of Tsukuba, Japan; [email protected]) Kishimoto, Shin (University of Tsukuba, Japan)

The kernel of a patent licensing game

10 - 10:30 am

Qin, Cheng-Zhong (University of California at Santa Barbara, USA and Shandong University, China; [email protected]) Hu, Xiaojuan (Shanghai University of Finance and Economics, China) Zhang, Shengping (Peking University, China)

A model of endogenous cross-holdings in oligopoly

Industrial organization theory Organizer: In, Younghwan Level 4, Nightingale

8:30 - 9 am Lee, Gea M. (Singapore Management University, Singapore; [email protected]) Bagwell, Kyle (Stanford University, USA)

Sequential search, price competition and the number

of firms

9 - 9:30 am

Rhee, Ki-Eun (KAIST Graduate School of Management, Korea; [email protected]) Thomadsen, Raphael (University of California at Los Angeles, USA)

Behavior-based pricing in vertically differentiated markets

9:30 - 10 am Wright, Julian (National University of Singapore, Singapore; [email protected]) Hagiu, Andrei (Harvard University, USA)

Marketplace or reseller?

10 - 10:30 am

In, Younghwan (KAIST Graduate School of Management, Korea; [email protected]) Wright, Julian (National University of Singapore, Singapore)

Loss-leader pricing and upgrades

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34

Topics in macroeconomics V Chair: Böhm, Volker Level 4, Sharma

8:30 - 9 am Koh, Dongya (Washington University in St. Louis, USA; [email protected])

Human capital accumulation under age-dependent

risks

9 - 9:30 am

Hussain, Syed Muhammad (Lahore University of Management Sciences, Pakistan; [email protected]) Malik, Samreen (New York University Abu Dhabi, United Arab Emirates)

Asymmetric effects of tax changes

9:30 - 10 am Baskaran, Thushyanthan (University of Goettingen, Germany; [email protected])

Direct democracy and public finances: quasi-experimental evidence from Bavaria

10 - 10:30 am

Von Ehrlich, Maximilian (ETH Zurich, Switzerland; [email protected]) Seidel, Tobias (University of Duisburg-Essen, Germany)

Regional implications of financial market

development: credit rationing, trade, and location

35

Parallel Sessions Sunday, 4 August, 11 am - 1 pm

35

Topics in microeconomics III Chair: Kim, Kyungmin Level 2, Veranda 1

11 - 11:30 am Jain, Tarun (Indian School of Business, India; [email protected])

Does who you know matter? Unraveling the influence

of student networks on academic performance 11:30 am - 12 pm

Amaya, Kenichi (Kagawa University, Japan; [email protected])

Multi-agent moral hazard with approach choices

12 - 12:30 pm Mutlu, Gulseren (City University of Hong Kong, Hong Kong; [email protected])

Learning under incentives

12:30 - 1 pm Kim, Kyungmin (University of Iowa, USA; [email protected]) Kaya, Ayca (University of Iowa, USA)

Trading dynamics in the market for lemons

Models and their testable restrictions Organizer: Quah, John Level 2, Veranda 2

11 - 11:30 am Lazzati, Natalia (University of Michigan, USA; [email protected])

Treatment response with social interactions: partial

identification via monotone comparative statics

11:30 am - 12 pm

Polisson, Matthew (Leicester University, UK; [email protected]) Bayer, Ralph (University of Adelaide, Australia) Bose, Subir (University of Leicester, UK) Renou, Ludovic (University of Essex, UK)

Ambiguity revealed

12 - 12:30 pm Gerasimou, Georgios (University of St Andrews, UK; [email protected])

A behavioural model of choice in the presence of decision conflict

12:30 - 1 pm Quah, John (University of Oxford, UK and National University of Singapore, Singapore; [email protected])

A revealed preference test for weakly separable preferences

Financial markets and macroeconomy Chair: Kashiwagi, Masanori Level 2, Veranda 3

11 - 11:30 am Sohn, Sung Bin (Peking University, China; [email protected])

What does investor sentiment reflect: animal spirits or risks?

11:30 am - 12 pm

Kashiwagi, Masanori (National Taiwan University, Taiwan; [email protected])

Sunspots and self-fulfilling beliefs in the U.S. housing market

12 - 12:30 pm Hördahl, Peter (Bank for International Settlements, Switzerland; [email protected]) Tristani, Oreste (ECB, Germany)

Macro factors and sovereign bond spreads: a quadratic no-arbitrage model

12:30 - 1 pm Wang, Jinjing (Georgia State University, USA; [email protected]) Subramanian, Ajay (Georgia State University, USA)

Catastrophe risk transfer

Empirical international trade Organizer: Lu, Yi and Tao, Zhigang Level 3, Paradiso

11 - 11:30 am

Lu, Yi (National University of Singapore, Singapore; [email protected]) Zhou, Yingke (National University of Singapore, Singapore)

Exchange rate and export sophistication: theory and

evidence

11:30 am - 12 pm

Wang, Luhang (Xiamen University, China; [email protected]) Brandt, Loren (University of Toronto, Canada) Van Biesebroeck, Johannes (Katholieke Universiteit Leuven, Belgium) Zhang, Yifan (Lingnan University, China)

WTO accession and performance of Chinese

manufacturing firms

12 - 12:30 pm

Bas, Maria (Centre d'Etudes Prospectives et d'Informations Internationales, France; [email protected]) Strauss-Kahn, Vanessa (ESCP-Europe)

Trade liberalization and export prices: the case of China

12:30 - 1 pm

Ahsan, Reshad (University of Melbourne, Australia; [email protected]) Mitra, Devashish (Syracuse University, USA) Ghosh, Arghya (University of New South Wales, Australia)

International trade and unionization: theory and evidence

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Cognition, perception and expectation Organizer: Saijo, Tatsuyoshi Level 3, Swallow

11 - 11:30 am

Saijo, Tatsuyoshi (Kochi University of Technology, Japan; [email protected]) Okano, Yoshitaka (Kochi University of Technology, Japan)

Second thought: theory and experiment in social

dilemma

11:30 am - 12 pm

Zhang, Jianlin (Singapore Institute of Management, Singapore; [email protected]) Riyanto, Yohanes Eko (Nanyang Technological University, Singapore)

Other's perception matters: the value of social

perception

12 - 12:30 pm

Uto, Nobuyuki (Waseda University, Japan; [email protected]) Kusakawa, Takao (Hiroshima Shudo University, Japan) Saijo, Tatsuyoshi (Kochi University of Technology, Japan)

Knightian uncertainty experiments

12:30 - 1 pm Song, Changcheng (National University of Singapore, Singapore; [email protected])

An experiment on reference points and expectations

Random matching and search Organizer: Matsui, Akihiko Level 3, Lyrebird

11 - 11:30 am Rhodes, Andrew Jonathan (University of Oxford, UK; [email protected])

Re-examining the effects of switching costs

11:30 am - 12 pm

Massala, Otso (Institut Européen d'Administration des Affaires, Singapore; [email protected]) Tsetlin, Ilia (Institut Européen d'Administration des Affaires, Singapore)

Search before tradeoffs are known

12 - 12:30 pm

Roger, Guillaume F. (University of New South Wales, Australia; [email protected]) Moses, Jessica (Deloitte Access Economics, Australia) Bidner, Chris (University of New South Wales, Australia)

Pre-match investment with rejection

12:30 - 1 pm

Matsui, Akihiko (University of Tokyo, Japan; [email protected]) Cho, In-Koo (University of Illinois at Urbana-Champaign, USA)

Search, adverse selection and market clearing

Topics in trade theory II Organizer: Chor, Davin

Level 3, Falcon

11 - 11:30 am Dasgupta, Kunal (University of Toronto, Canada; [email protected]) Mondria, Jordi (University of Toronto, Canada)

International trade with inattentive importers

11:30 am - 12 pm

Fan, Haichao (Hong Kong University of Science and Technology, Hong Kong; [email protected]) Lai, Edwin L.-C. (Hong Kong University of Science and Technology, Hong Kong) Qi, Han Steffan (Hong Kong University of Science and Technology, Hong Kong)

Global gains from reduction of trade costs

12 - 12:30 pm Kim, Minho (Washington University in St Louis, USA; [email protected])

Multi-stage production and gains from trade

12:30 - 1 pm

Chor, Davin (National University of Singapore, Singapore; [email protected]) Lai, Edwin L.-C. (Hong Kong University of Science and Technology, Hong Kong)

Cumulative innovation, growth, and welfare-

improving patent policy

Occupational mobility and internal labor markets Chair: McKenzie, Colin R Level 4, Kingfisher

11 - 11:30 am Nakabayashi, Masaki (University of Tokyo, Japan; [email protected])

Career experiences replaced: emergence of Japanese

internal labor markets

11:30 am - 12 pm

McKenzie, Colin R (Keio University, Japan; [email protected]) Kajitani, Shinya (Meisei University, Japan) Sakata, Kei (Ritsumeikan University, Japan)

Occupation, retirement and cognitive functioning

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37

12 - 12:30 pm Li, Yi (University of Wisconsin-Madison, USA; [email protected])

Skill accumulation and occupational mobility

12:30 - 1 pm Gunji, Hiroshi (Daito Bunka University, Japan; [email protected]) Miyazaki, Kenji (Hosei University, Japan)

Labor wedges by sex in Japan

Auctions Organizer: Lu, Jingfeng and Ye, Lixin Level 4, Pelican

11 - 11:30 am

Loertscher, Simon (University of Melbourne, Australia; [email protected]) Mezzetti, Claudio (University of Melbourne, Australia)

A dominant strategy double auction with multi-unit

traders that never runs a deficit

11:30 am - 12 pm

Ko, Chiu Yu (National University of Singapore, Singapore; [email protected])

Menu auction with budget constraints

12 - 12:30 pm Wasser, Cédric (University of Bonn, Germany; [email protected])

Bilateral k+1-price auctions with asymmetric shares and values

12:30 - 1 pm Lu, Jingfeng (National University of Singapore, Singapore; [email protected]) Ye, Lixin (Ohio State University, USA)

Efficient and optimal two-stage auctions with costly information acquisition

Information frictions and macroeconomics Organizer: Wang, Yong Level 4, Toucan

11 - 11:30 am Ho, Wai-Hong (University of Macau, Macau; [email protected])

Financial market globalization, nonconvergence and

cycles 11:30 am - 12 pm

Zheng, Yu (City University of Hong Kong, Hong Kong; [email protected])

The role of education signaling in explaining the

growth of college wage premium

12 - 12:30 pm Banerji, Sanjay (University of Nottingham, UK; [email protected]) Wang, Tianxi (University of Essex, UK)

Incentives, risk sharing and wealth: a model of

intrinsic cycles

12:30 - 1 pm

Wang, Yong (City University of Hong Kong, Hong Kong; [email protected]) Hung, Fu-Sheng (National Chengchi University, Taiwan)

Asymmetric information, government credit subsidies,

and economic growth

Assets market and equilibrium Organizer: Ma, Chenghu

Level 4, Oriole

11 - 11:30 am

Nakata, Hiroyuki (University of Tokyo and Research Institute of Economy, Trade and Industry, Japan; [email protected]) Motolese, Maurizio (Catholic University of the Sacred Heart, Italy)

Endogenous business cycles and the social welfare under heterogeneous beliefs

11:30 am - 12 pm

Yao, Zhiyong (Fudan University, China; [email protected])

SOEs as financial intermediation

12 - 12:30 pm

Ma, Chenghu (Fudan University, China; [email protected]) Huang, Lin (Southwestern University of Economics and Finance, China) Nakata, Hiroyuki (University of Tokyo, Japan)

MPS risk aversion and shadow-CAPM: theory and empirical evidence

12:30 - 1 pm Xia, Chun (University of Hong Kong, Hong Kong; [email protected]) Guo, Ming (Shanghai Jiaotong University, China)

Technical trading and strategic liquidity provision

Game theory and decision making II Organizer: Fu, Haifeng and Zhang, Yongchao Level 4, Canary 1

11 - 11:30 am Zheng, Jie (Tsinghua University, China; [email protected]) Lien, Jaimie (Tsinghua University, China)

An incomplete-information battle of the sexes with outside option

11:30 am - 12 pm

Sano, Ryuji (Osaka University, Japan; [email protected])

A dynamic mechanism design for scheduling with

different lengths of use

12 - 12:30 pm Chen, Yu (Indiana University at Bloomington, USA; [email protected])

Decentralizability of multi-agency contracting with Bayesian implementation

12:30 - 1 pm Zhang, Yongchao (Shanghai University of Finance and Economics, China; [email protected]) Khan, M. Ali (Johns Hopkins University, USA)

A matching penny game with correlated information

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Mechanism design and its application Organizer: Yeh, Chun-Hsien Level 4, Canary 2

11 - 11:30 am

Yeh, Chun-Hsien (Academia Sinica, Taiwan; [email protected]) Hu, Cheng-Cheng (National Cheng Kung University, Taiwan) Tsay, Min-Hung (National Cheng Kung University, Taiwan)

Bilateral consistency and converse consistency in

axiomatizations and implementation of the nucleolus

11:30 am - 12 pm

Liang, Meng-Yu (Academia Sinica, Taiwan; [email protected]) Chou, Eric S. (National Tsing Hua University, Taiwan) Wu, Cheng-Tai (Fu-Jen Catholic University, Taiwan)

The inefficiency of waiting list in allocating transplants

when implants are available

12 - 12:30 pm Yang, Yi-You (Aletheia University, Taiwan; [email protected])

Free disposal, monotonicity, and equilibrium

12:30 - 1 pm Jung, Hanjoon Michael (Academia Sinica, Taiwan; [email protected])

Complete sequential equilibrium

Epistemic logic and inductive game theory Organizer: Kaneko, Mamoru Level 4, Bluebird

11 - 11:30 am Kaneko, Mamoru (Waseda University, Japan; [email protected])

Interactions between subjective thinking and

objective worlds

11:30 am - 12 pm

Hu, Tai-Wei (Northwestern University, USA; [email protected]) Kaneko, Mamoru (Waseda University, Japan)

Infinite regress from interactive decision making

12 - 12:30 pm Kline, Jeffrey (University of Queensland, Australia; [email protected]) Kaneko, Mamoru (Waseda University, Japan)

Role switching and the other's minds from the

perspective of inductive game theory

12:30 - 1 pm

Ishikawa, Ryuichiro (University of Tsukuba, Japan; [email protected]) Eizo, Akiyama (University of Tsukuba, Japan) Kaneko, Mamoru (Waseda University, Japan) Kline, Jeffrey (University of Queensland, Australia)

A simulation study of inductive game theory: Mike’s bike commuting

Topics in political economics Chair: Salvo, Alberto Level 4, Nightingale

11 - 11:30 am

Ghosh, Sugata (Brunel University, UK; [email protected]) Gregoriou, Andros (University of Hull, UK) Mitra, Anirban (University of Oslo, Norway)

On the role of democracy in the ethnicity-growth

relationship: theory and evidence

11:30 am - 12 pm

Saha, Mimika (National University of Singapore, Singapore; [email protected]) Bag, Parimal (National University of Singapore, Singapore)

Confounding politics of terror prevention

12 - 12:30 pm

Salvo, Alberto (National University of Singapore, Singapore; [email protected]) Eizenberg, Alon (Hebrew University of Jerusalem, Israel)

Grab them before they go generic: habit formation and the emerging middle class

12:30 - 1 pm Nandeibam, Shasikanta (University of Bath, UK; [email protected])

Discrimination and population composition in the long run

Empirical economics I Chair: Hessami, Zohal Level 4, Sharma

11 - 11:30 am

Slonimczyk, Fabian (NRU Higher School of Economics, Russia; [email protected]) Yurko, Anna V. (NRU Higher School of Economics, Russia)

Assessing the impact of the maternity capital policy in Russia using a dynamic stochastic model of fertility

and employment

11:30 am - 12 pm

Choi, Jin-Young (Boston College, USA; [email protected])

Are twins the same?: heavily censored semiparametric quantile estimation with fixed effects

12 - 12:30 pm Morita, Hiroshi (Hitotsubashi University, Japan; [email protected])

Empirical analysis on the macroeconomic effects of fiscal policy and rule-of-thumb households

12:30 - 1 pm Hessami, Zohal (University of Konstanz, Germany; [email protected])

Direct mayor elections and intergovernmental

transfers: quasi-experimental evidence from German municipalities

39

Parallel Sessions Sunday, 4 August, 2 - 4 pm

39

Social choice and cooperative game theory Organizer: Chun, Youngsub; Chair: Salonen, Hannu Level 2, Veranda 1

2 - 2:30 pm

Ju, Yuan (University of York, UK; [email protected]) Van den Brink, Rene (Vrije Universiteit, Netherlands) Chun, Youngsub (Seoul National University, Korea)

Auctioning and selling positions: a non-cooperative

approach to queueing conflicts

2:30 - 3 pm Juarez, Ruben (University of Hawaii, USA; [email protected]) Jandoc, Karl (University of Hawaii, USA)

Stable coalitions with power accumulation

3 - 3:30 pm Salonen, Hannu (University of Turku, Finland; [email protected])

Aggregating and updating information

Public goods and taxation Chair: Mondal, Debasis

Level 2, Veranda 2

2 - 2:30 pm Poyago-Theotoky, Joanna (La Trobe University, Australia; [email protected])

Green technology and optimal emissions taxation

2:30 - 3 pm Miyakoshi, Tatsuyoshi (Hosei University, Japan; [email protected])

Existence, uniqueness and algorithm for identifying free-riders in multiple public good games:

replacement correspondence approach

3 - 3:30 pm Mondal, Debasis (IIT-Delhi, India; [email protected])

Private provision of public good and immiserizing growth

3:30 - 4 pm

Borges, Ana Pinto (University of Lusiada, Portugal; [email protected]) Sarmento, Paula (University of Porto, Portugal) Laussel, Didier (GREQAM, France) Resende, Joana (University of Porto, Portugal)

Compulsory versus open enrollment health insurance

Recent development in matching theory Organizer: Kim, Jinwoo and Kojima, Fuhito

Level 2, Veranda 3

2 - 2:30 pm

Kim, Jinwoo (Seoul National University, Korea; [email protected]) Che, Yeon-Koo (Columbia University, USA) Kojima, Fuhito (Stanford University, USA)

Stable matching in large markets

2:30 - 3 pm Kurino, Morimitsu (WZB, Germany; [email protected]) Kesten, Onur (Carneigie Mellon University, USA)

Do outside options matter in school choice? A new perspective on the efficiency vs. strategy-proofness

trade-off

3 - 3:30 pm Koh, Youngwoo (Columbia University, USA; [email protected]) Che, Yeon-Koo (Columbia University, USA)

Decentralized college admissions

3:30 - 4 pm Manjunath, Vikram (Université de Montréal, Canada; [email protected]) Sprumont, Yves (Université de Montréal, Canada)

Learning before matching

Macroeconomic dynamics II Chair: Polemarchakis, Herakles

Level 3, Paradiso

2 - 2:30 pm Polemarchakis, Herakles (University of Warwick, UK; [email protected]) Peiris, Udara (University of Warwick, UK)

Quantitative easing in an open economy

2:30 - 3 pm

Massaro, Domenico (University of Amsterdam, Netherlands; [email protected]) Hommes, Cars (University of Amsterdam, Netherlands) Cornea, Adriana (University of Exeter, UK)

Behavioral heterogeneity in U.S. inflation dynamics

3 - 3:30 pm Tonogi, Akiyuki (Hitotsubashi University, Japan; [email protected])

The relation between inventory investment and price

dynamics in a distributive firm

3:30 - 4 pm Böhm, Volker (Bielefeld University, Germany; [email protected]) Claas, Oliver (Universität Bielefeld, Germany)

Rational expectations dynamics under efficient

bargaining

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Behavioral, experimental and biological economics I Organizer: Chew, Soo Hong and Zhong, Songfa Level 3, Swallow

2 - 2:30 pm

Christopoulos, Georgios (Nanyang Technological University, Singapore; [email protected]) King-Casas, Brooks (Virginia Tech Carilion Research Institute, USA)

Behavioural and biological components of moral

hazard in a principal-agent problem: between envy and guilt

2:30 - 3 pm Houser, Daniel (George Mason University, USA; [email protected])

Sign me up: a model and field experiment on

volunteering

3 - 3:30 pm

Zhong, Songfa (National University of Singapore, Singapore; [email protected]) Chark, Chi Hang Robin (National University of Singapore, Singapore) Chew, Soo Hong (National University of Singapore, Singapore) Hsu, Ming (University of California at Berkeley, USA)

Dissociable neural responses to distributional inequity

and responsibility in third-party norm enforcement

Experimental asset markets: the role of experience, information, expectation and regulation Organizer: Riyanto, Yohanes Eko Level 3, Lyrebird

2 - 2:30 pm

Hanaki, Nobuyuki (Aix-Marseille University, CNRS, EHESS and IUF, France; [email protected]) Akiyama, Eizo (University of Tsukuba, Japan) Ishikawa, Ryuichiro (University of Tsukuba, Japan)

Strategic uncertainty in an experimental asset market

2:30 - 3 pm

Ong, Qiyan (Nanyang Technological University, Singapore; [email protected]) Theseira, Walter E (Nanyang Technological University, Singapore)

When do women compete with men? Gender differences in competitive behaviour in an investment

decision experiment

3 - 3:30 pm

Riyanto, Yohanes Eko (Nanyang Technological University, Singapore; [email protected]) Halim, Edward (Nanyang Technological University, Singapore)

Asset markets with insider traders and insider trading regulations: an experiment

3:30 - 4 pm

Bao, Te (University of Amsterdam, Netherlands; [email protected]) Anufriev, Mikhail (University of Technology Sydney, Australia) Sutan, Angela (Burgundy School of Business, France) Tuinstra, Jan (University of Amsterdam, Netherlands)

A simple experiment on fee structure and mutual fund choice

Mathematical finance I Organizer: Koo, Hyeng Keun and Won, Dongchul Level 3, Falcon

2 - 2:30 pm Koo, Jung Lim (Xiamen University, China; [email protected])

Optimal retirement and portfolio selection when

leisure is a luxury

2:30 - 3 pm Yoo, Jane (Ajou University, Korea; [email protected])

Delinquency over the life cycle

3 - 3:30 pm Won, Dongchul (Ajou University, Korea; [email protected]) Hahn, Guangsug (POSTECH, Korea)

Robust survival and equilibrium in incomplete markets

3:30 - 4 pm Koo, Byung Lim (Xiamen University, China; [email protected])

Optimal locking-in strategies

Hypothesis testing Chair: Gandhi, Amit Level 4, Kingfisher

2 - 2:30 pm Rao, Yao (University of Liverpool, UK; [email protected])

An analysis of the performance of structural change

tests in OLS regressions

2:30 - 3 pm Wang, Xuexin (Xiamen University, China; [email protected])

An improved consistent conditional moment test for

regression models in the presence of heteroskedasticity of unknown form

3 - 3:30 pm Sriananthakumar, Sivagowry (RMIT University, Australia; [email protected])

A new MMC based approximate point optimal test of a composite null hypothesis

3:30 - 4 pm Song, Xiaojun (Universidad Carlos III de Madrid, Spain; [email protected])

Significance testing in nonparametric autoregression

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Auctions: theory and experiment Organizer: Wang, Ruqu; Chair: Ratan, Anmol Level 4, Pelican

2 - 2:30 pm

Liu, Bin (National University of Singapore, Singapore; [email protected]) Lu, Jingfeng (National University of Singapore, Singapore) Wang, Ruqu (Queen's University, Canada) Zhang, Jun (Shanghai University of Finance and Economics, China)

Optimal contest design with incomplete information

2:30 - 3 pm Wei, Lijia (Wuhan University, China; [email protected]) Shachat, Jason (Xiamen University, China)

Discrete heterogeneity and learning in private value auctions: withering rationality and gender differences

3 - 3:30 pm Azacis, Helmuts (Cardiff University, UK; [email protected])

Information disclosure by a seller in a sequential first

price auction

3:30 - 4 pm Ratan, Anmol (Monash University, Australia; [email protected])

Reference-dependent preferences in auctions: theory

and experiment

Dynamic programming Organizer: Kamihigashi, Takashi and Stachurski, John

Level 4, Toucan

2 - 2:30 pm Yao, Masayuki (Keio University, Japan; [email protected])

Convergence of value iteration with upper semicontinuous returns

2:30 - 3 pm Kamihigashi, Takashi (Kobe University, Japan; [email protected])

Elementary results on solutions to the bellman equation of dynamic programming: existence,

uniqueness, and convergence

3 - 3:30 pm Carpio, Ronaldo (University of Business and International Economics, China; [email protected])

Discounted dynamic programming in the space of

Fenchel transforms

3:30 - 4 pm

Stachurski, John (Australian National University, Australia; [email protected]) Kikuchi, Tomoo (National University of Singapore, Singapore) Kazuo, Nishimura (Kobe University, Japan)

Coase meets Tarski: new insights from Coase's theory

of the firm

Trade Chair: Lai, Tat-kei Level 4, Oriole

2 - 2:30 pm

Lai, Tat-kei (Copenhagen Business School, Denmark; [email protected]) Choy, Siu-Kai (Shanghai University of Finance and Economics, China) Ng, Travis (Chinese University of Hong Kong, Hong Kong)

Do treasure islands create firm value?

2:30 - 3 pm Zhang, Guoxiong (Shanghai Jiao Tong University, China; [email protected])

Trade liberalization and capital flows: a perspective of comparative advantage and heterogeneous firms

3 - 3:30 pm Luo, Zijun (Colgate University, USA; [email protected])

Transportation costs and trade imbalance: theory and

evidence

Nonatomic games Organizer: Rath, Kali and Yu, Haomiao Level 4, Canary 1

2 - 2:30 pm Sagara, Nobusumi (Hosei University, Japan; [email protected]) Khan, M. Ali (Johns Hopkins University, USA)

The purification and bang-bang principles in infinite

dimensions: additional characterizations of the saturation property

2:30 - 3 pm Noguchi, Mitsunori (Meijo University, Japan; [email protected])

Cooperative equilibria of finite games with incomplete information

3 - 3:30 pm Qiao, Lei (National University of Singapore, Singapore; [email protected]) Yu, Haomiao (Ryerson University, Canada)

On large strategic games with traits

3:30 - 4 pm

Rath, Kali P. (University of Notre Dame, USA; [email protected]) Khan, M. Ali (Johns Hopkins University, USA) Yu, Haomiao (Ryerson University, Canada) Zhang, Yongchao (Shanghai University of Finance and Economics, China)

Strategic representation of large distributional games

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R&D implementation, disclosure and monitoring Organizer: Bag, Parimal Level 4, Canary 2

2 - 2:30 pm Xu, Haibo (Washington University in St. Louis, USA; [email protected])

A model of dynamic information disclosure

2:30 - 3 pm

Wang, Peng (National University of Singapore, Singapore; [email protected]) Bag, Parimal (National University of Singapore, Singapore)

Input or output monitoring in teams?

3 - 3:30 pm Shan, Yaping (University of Adelaide, Australia; [email protected])

Incentives for research agents: optimal contracts and

implementation

3:30 - 4 pm Chan, Jimmy (Shanghai University of Finance and Economics, China; [email protected])

Spying-free equilibrium in repeated games with

private monitoring and communication

Repeated games Organizer: Takahashi, Satoru

Level 4, Bluebird

2 - 2:30 pm

Fujiwara-Greve, Takako (Keio University, Japan; [email protected]) Okuno-Fujiwara, Masahiro (Musashino University, Japan)

Diverse behaviors in a symmetric world with voluntary partnerships

2:30 - 3 pm Yang, Chun-Lei (Academia Sinica, Taiwan; [email protected])

On optimal social convention in voluntary continuation prisoner’s dilemma games

3 - 3:30 pm Obayashi, Shinya (Tohoku University, Japan; [email protected])

Reciprocal exchange systems by overlapping generations of players: based on empirical and game

theoretic approaches

3:30 - 4 pm Awaya, Yu (Pennsylvania State University, USA; [email protected])

Communication in a dynamic prisoner's dilemma with

incomplete information

Topics in economic theory I Chair: Stinchcombe, Maxwell Level 4, Nightingale

2 - 2:30 pm Stinchcombe, Maxwell (University of Texas at Austin, USA; [email protected])

Finite approximations for infinite extensive form games: examples

2:30 - 3 pm Saran, Rene (Yale-NUS College, Singapore; [email protected])

Robust implementation under complete information

3 - 3:30 pm Salcedo, Bruno (Pennsylvania State University, USA; [email protected])

Implementation without commitment in moral hazard environments

3:30 - 4 pm

Bidner, Chris (University of New South Wales, Australia; [email protected]) Anderson, Siwan (University of British Columbia, Canada)

Property rights over marital transfers

Empirical economics II Chair: Yim, Andrew Level 4, Sharma

2 - 2:30 pm Yim, Andrew (City University London, UK; [email protected])

Mixture and continuous 'Discontinuity' hypotheses: an

earnings management model with auditor-required adjustment

2:30 - 3 pm Maki, Atsushi (Keio University, Japan; [email protected])

Estimating price elasticity of demand using micro-data set of cross sectional household budgetary survey

3 - 3:30 pm Niizeki, Takeshi (Economic and Social Research Institute, Japan; [email protected])

Capacity utilization and the effect of energy price

shock in Japan

3:30 - 4 pm Goel, Rajeev K. (Illinois State University, USA; [email protected])

Whistleblower laws and exposed corruption: evidence

from American states

43

Parallel Sessions Sunday, 4 August, 4:30 - 6:30 pm

43

Environment Chair: Sung, Yusen Level 2, Veranda 1

4:30 - 5 pm Kitano, Taiju (Hitotsubashi University, Japan; [email protected])

Disguised protectionism? Environmental policy in the

Japanese car market

5 - 5:30 pm Aoki, Reiko (Hitotsubashi University, Japan; [email protected])

Nuclear accident, liability rules and regulated

monopoly

5:30 - 6 pm Sung, Yusen (National Taiwan University, Taiwan; [email protected])

Costly pollution control technology diffusion under

proportional liability rule Topics in public economics Chair: Sng, Tuan Hwee Level 2, Veranda 2

4:30 - 5 pm Naraparaju, Karthikeya (IGIDR-India, India; [email protected]) Motiram, Sripad (IGIDR-India, India)

Unemployment spells and the welfare cost of unemployment: theory and evidence from India

5 - 5:30 pm Yuan, Haishan (University of Maryland, College Park, USA; [email protected])

National representation and local public expenditure:

a natural experiment from Japan

5:30 - 6 pm Jain, Ritika (IGIDR-India, India; [email protected])

Determinants of disinvestment in India: An analysis of

central public sector enterprises

Auction theory Organizer: Wang, Ruqu; Chair: Kotowski, Maciej H. Level 2, Veranda 3

4:30 - 5 pm Kotowski, Maciej H. (Harvard University, USA; [email protected])

First-price auctions with budget constraints

5 - 5:30 pm Morimoto, Shuhei (Kobe University, Japan; [email protected]) Serizawa, Shigehiro (Osaka University, Japan)

Strategy-proofness and efficiency with nonquasi-linear preferences: a characterization of minimum

price Walrasian rule

5:30 - 6 pm Topinskiy, Valeriy (NRU Higher School of Economics, Russia; [email protected]) Izmalkov, Sergei (New Economic School, Russia)

Optimal reserve prices in anonymous asymmetric

auctions

6 - 6:30 pm

Hu, Audrey (University of Bonn, Germany; [email protected]) Matthews, Steven A. (University of Pennsylvania, USA) Zou, Liang (University of Amsterdam, Netherlands)

English auctions with ensuing risks and heterogeneous bidders

Forecasting Chair: Abeysinghe, Tilak

Level 3, Paradiso

4:30 - 5 pm Tsyplakov, Alexander (Novosibirsk State University, Russia; [email protected])

Evaluation of probabilistic forecasts: proper scoring rules and moments

5 - 5:30 pm Xu, Jiawen (Boston University, USA; [email protected]) Perron, Pierre (Boston University, USA)

A new approach to forecasting in the presence of in and out of sample breaks

5:30 - 6 pm

Liu, Chu-An (National University of Singapore, Singapore; [email protected]) Kuo, Biing-Shen (National Chengchi University, Taiwan)

Model averaging in predictive regressions

6 - 6:30 pm Leoni, Patrick (EUROMED Management; [email protected])

Non-parametric spectral tests for forecast accuracy

Behavioral, experimental and biological economics II Organizer: Chew, Soo Hong and Zhong, Songfa Level 3, Swallow

4:30 - 5 pm

Chew, Soo Hong (National University of Singapore, Singapore; [email protected]) Chark, Chi Hang Robin (National University of Singapore, Singapore) Zhong, Songfa (National University of Singapore, Singapore)

Is there a favorite-longshot bias? Evidence from a

large-stake experiment

5 - 5:30 pm Kouwenberg, Roy (Mahidol University, Thailand; [email protected]) Dimmock, Stephen G. (Nanyang Technological

Ambiguity attitudes and economic behavior

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44

University, Singapore) Mitchell, Olivia S. (University of Pennsylvania, USA) Peijnenburg, Kim (Bocconi University, Italy)

5:30 - 6 pm Guo, Liang (Hong Kong University of Science and Technology, Hong Kong; [email protected])

Contextual deliberation and preference construction

6 - 6:30 pm Li, King King (Shanghai University of Finance and Economics, China; [email protected])

The dominated candidate effect in elections

Firms and technology Chair: Sun, Juliana Yu

Level 3, Lyrebird

4:30 - 5 pm Kwon, Chul-Woo (Kyungpook National University, Korea; [email protected])

Technology transfer without the spillover effect from a multinational in strategic competition

5 - 5:30 pm Bach, Thang Ngoc (University of Queensland, Australia; [email protected])

Dynamics of entry and exit and its contributions to

aggregate productivity growth in Vietnamese manufacturing

5:30 - 6 pm

Sun, Juliana Yu (Singapore Management University, Singapore; [email protected]) Samaniego, Roberto (George Washington University, USA)

Stages of diversification and industry productivity differences

6 - 6:30 pm Pokrovsky, Dmitry (NRU Higher School of Economics, Russia; [email protected])

Market size, productivity, entrepreneurship and income inequality in a model a'la Melitz

Mathematical finance II Organizer: Koo, Hyeng Keun and Won, Dongchul Level 3, Falcon

4:30 - 5 pm

Wong, Wing-Keung (Hong Kong Baptist University, Hong Kong; [email protected]) Bai, Zhidong (Northeast Normal University, China and National University of Singapore, Singapore) Li, Hua (Chang Chun University, China, and National University of Singapore, Singapore)

The best estimation for high-dimensional Markowitz

mean-variance optimization

5 - 5:30 pm Shin, Yong Hyun (Sookmyung Women's University, Korea; [email protected]) Shim, Gyoocheol (Ajou University, Korea)

An optimal consumption, leisure, investment and job

switching problem

5:30 - 6 pm

Jo, Joong Lee (Ajou University, Korea; [email protected]) Koo, Hyeng Keun (Ajou University, Korea) Tang, Shanjian (Fudan University, China)

Optimal consumption and investment when wealth enters utility directly

6 - 6:30 pm

Lim, Byung Hwa (University of Suwon, Korea; [email protected]) Choi, Kyoung Jin (University of Calgary, Canada) Koo, Hyeng Keun (Ajou University, Korea)

A continuous-time consumption and investment problem under endogenous liquidity constraints

Identification and instrumental variable Chair: Gao, Zhengyuan Level 4, Kingfisher

4:30 - 5 pm Liang, Xin (McGill University, Canada; [email protected]) Dufour, Jean-Marie (McGill University, Canada)

Necessary and sufficient conditions for partial point

identification

5 - 5:30 pm Botosaru, Irene (Toulouse School of Economics, France; [email protected]) Gutierrez, Federico H (Vanderbilt University, USA)

Difference-in-differences when treatment status is observed in only one period

5:30 - 6 pm Gao, Zhengyuan (University of Iowa, USA; [email protected])

A mixing instrumental method

6 - 6:30 pm

Marmer, Vadim (University of British Columbia, Canada; [email protected]) Feir, Donna (University of British Columbia, Canada) Lemieux, Thomas (University of British Columbia, Canada)

Weak identification in fuzzy regression discontinuity designs

45


45

Housing markets Chair: Ouyang, Min Level 4, Pelican

4:30 - 5 pm

Ouyang, Min (Tsinghua University, China; [email protected]) Li, Qi (Texas A&M University, USA) Bai, Chong-En (Tsinghua University, China)

Property taxes and home prices: a tale of two cities

5 - 5:30 pm Peng, Tao (Southwestern University of Finance and Economics, China; [email protected]) Minetti, Raoul (Michigan State University, USA)

Housing demand shocks, keeping up with the Zhangs

and housing price dynamics in China

5:30 - 6 pm

Lu, Zudi (University of Adelaide, Australia; [email protected]) Alsulami, Dawlah (University of Adelaide, Australia) Zhu, Jun (University of Wisconsin at Madison, USA)

Spatio-temporal autoregressive partially linear models with application to the USA housing price index

analysis

6 - 6:30 pm

Chao, Ching-Hsiang (National Central University, Taiwan; [email protected]) Yeh, Jin-Huei (National Central University, Taiwan) Chang, Chuang-Chang (National Central University, Taiwan)

The role of anchoring bias in the real estate market:

evidence from Taiwan

Economic growth II Chair: Thangavelu, Shandre M. Level 4, Toucan

4:30 - 5 pm Ganioglu, Aytul (Central Bank of Turkey, Turkey; [email protected]) Yalcin, Cihan (Central Bank of Turkey, Turkey)

Domestic savings-investment gap and growth: a cross-country panel study

5 - 5:30 pm Chatterjee, Arpita (University of New South Wales, Australia; [email protected])

Globalization and monetary policy: an empirical analysis

5:30 - 6 pm Dang, Hai-Anh (World Bank; [email protected]) Measuring poverty dynamics with synthetic panels based on cross-sections

International trade Chair: Cheong, Juyoung Level 4, Oriole

4:30 - 5 pm Chen, Xiaoping (Nanyang Technological University, Singapore; [email protected])

Effective endowment, trade and wages

5 - 5:30 pm Tran, Duong Lam Anh (Hitotsubashi University, Japan; [email protected])

An analysis of changes in wealth distribution upon the

entrance of foreign direct investment firms

5:30 - 6 pm

Cheong, Juyoung (University of Queensland, Australia; [email protected]) Kwak, Do won (University of Queensland, Australia) Tang, Kam Ki (University of Queensland, Australia)

WTO trade effects and structural properties of the

memberships

6 - 6:30 pm Yun, Kwan Koo (State University of New York at Albany, USA; [email protected])

Production fragmentation, outsourcing and factor price equalization

Topics in economic theory II Organizer: Chen, Yi-Chun and Ely, Jeffrey

Level 4, Canary 1

4:30 - 5 pm Pai, Mallesh (University of Pennsylvania, USA; [email protected]) Deb, Rahul (University of Toronto, Canada)

Symmetric auctions

5 - 5:30 pm

Mueller-Frank, Manuel (IESE Business School, USA; [email protected]) Arieli, Itai (Technion - Israel Institute of Technology, Israel)

Non-sequential cascading

5:30 - 6 pm Hashimoto, Tadashi (Stanford University, USA; [email protected])

The generalized random priority mechanism with budgets

6 - 6:30 pm Arieli, Itai (Technion - Israel Institute of Technology, Israel; [email protected]) Mueller-Frank, Manuel (IESE Business School, USA)

Inferring beliefs from actions

46


46

Matching and market design Chair: Strulovici, Bruno Level 4, Canary 2

4:30 - 5 pm Zeng, Chloe Qianzi (University of Oxford, UK; [email protected])

Matching with contracts: an efficient marriage

market?

5 - 5:30 pm Wu, Qinggong (University of Michigan, USA; [email protected])

Marriage games

5:30 - 6 pm Kasuya, Yusuke (Northwestern University, USA; [email protected])

Anti-bullying school choice mechanism design

6 - 6:30 pm Adachi, Tsuyoshi (Waseda University, Japan; [email protected])

Robust and secure implementation: equivalence

theorems

Contract theory and leadership games Organizer: Bag, Parimal Level 4, Bluebird

4:30 - 5 pm

Zhang, Yi (Singapore Management University, Singapore; [email protected]) Wang, Huan (Chinese Academy of Social Sciences, China) Zhang, Juyan (South Western University of Finance and Economics, China)

Can ex post destruction solve the hold-up problem?

5 - 5:30 pm

Pepito, Nona (ESSEC Business School, Singapore and France; [email protected]) Bag, Parimal (National University of Singapore, Singapore)

Leadership by obfuscation

5:30 - 6 pm Hori, Kazumi (Ritsumeikan University, Japan; [email protected])

Contracting for multiple goods under asymmetric

information

6 - 6:30 pm

Qian, Neng (National University of Singapore, Singapore; [email protected]) Bag, Parimal (National University of Singapore, Singapore)

Subjective performance evaluation in teams and

discrimination

Matching and search Chair: Chou, Eric Szu-Wen


4:30 - 5 pm Ahn, Taehyun (Sogang University, Korea; [email protected])

Locus of control and job turnover

5 - 5:30 pm

Chou, Eric Szu-Wen (National Tsing Hua University, Taiwan; [email protected]) Tang, Jenn-Hong (National Tsing-Hua University, Taiwan)

A general equilibrium foundation for property rights theory

5:30 - 6 pm Sim, Seung-Gyu (Andrew) (University of Tokyo, Japan; [email protected])

On-the-job training: from Acemoglu to Becker?

Empirical economics III Chair: Song, Changcheng Level 4, Sharma

4:30 - 5 pm Ko, Jun-Hyung (Aoyama Gakuin University, Japan; [email protected])

Fiscal sustainability and regime shifts in Japan

5 - 5:30 pm Tuteja, Divya (University of Delhi, India; [email protected])

A Markov switching analysis of Indian, Japanese, E.U.

and U.S. stock markets and exchange rates

5:30 - 6 pm Mori, Tomoharu (Osaka University, Japan; [email protected]) Jitsophon, Sarunyu (Osaka University, Japan)

The hidden costs of control in the field

6 - 6:30 pm

Li, Yingzhu (Nanyang Technological University, Singapore; [email protected]) Alba, Joseph Dennis (Nanyang Technological University, Singapore) Chia, Wai Mun (Nanyang Technological University, Singapore)

What moves the U.S. real exchange rate in the long

run?

47

Organizers/Chairs and Speakers

47

Abeysinghe, Tilak, 43

Adachi, Tsuyoshi, 46

Agarwal, Sumit, 26

Ahn, Taehyun, 46

Ahsan, Reshad, 35

Amaya, Kenichi, 35

An, Xudong, 13

Anderson, Robert, 24

Aney, Madhav S., 33

Aoki, Reiko, 43

Arai, Koki, 17

Arai, Yoichi, 12

Arieli, Itai, 45

Armstrong, Timothy, 16

Asai, Manabu, 28

Au, Pak Hung, 25

Awaya, Yu, 42

Azacis, Helmuts, 41

Bach, Thang Ngoc, 44

Bag, Parimal, 42, 46

Banerji, Sanjay, 37

Bao, Te, 40

Bas, Maria, 35

Baskaran, Thushyanthan, 34

Bidian, Florin, 24

Bidner, Chris, 42

Bodenstein, Martin, 18

Böhm, Volker, 34, 39

Bonaldi, Pietro, 31

Bonev, Petyo, 10

Bonhomme, Stephane, 10, 21

Borges, Ana Pinto, 39

Botosaru, Irene, 44

Cao, Zhigang, 33

Carbajal, Juan Carlos, 31

Carpio, Ronaldo, 41

Carro, Jesús, 21

Catonini, Emiliano, 14

Chan, Hock Peng, 16

Chan, Jimmy, 15, 42

Chan, Marc K., 30

Chang, Chia-Ying, 23

Chang, Pao-Li, 13

Chao, Ching-Hsiang, 45

Chatterjee, Arpita, 45

Chatterji, Shurojit, 33

Chen, Been-Lon, 22

Chen, Hung-Ju, 12

Chen, Jia, 15

Chen, Le-Yu, 12

Chen, Shu-Hua, 12

Chen, Stacey H., 16

Chen, Xiaohong, 5

Chen, Xiaoping, 45

Chen, Yi-Chun, 23, 28, 45

Chen, Yu, 37

Cheong, Juyoung, 45

Chew, Soo Hong, 40, 43

Chiong, Khai Xiang, 11

Cho, Sungjin, 25

Choi, Eleanor Jawon, 22

Choi, Hyun-Soo, 10

Choi, Jin-Young, 38

Choo, Eugene, 31

Chor, Davin, 31, 36

Chou, Eric Szu-Wen, 46

Christopoulos, Georgios, 40

Chu, Ba, 10

Chuang, Hongwei, 24

Crawford, Vincent, 5

Dai, Min, 32

Daitoh, Ichiroh, 29

Dang, Hai-Anh, 45

Dasgupta, Kunal, 36

Dau, Nam Huong, 13

De Castro, Luciano, 27

Deb, Rahul, 30

DeLeire, Thomas, 10

Delgado, Michael S., 28

Deng, Yongheng, 10

Detering, Nils, 21

Dong, Baomin, 26

Dong, Yingying, 16

Duan, Jin-Chuan, 30

Effraimidis, Georgios, 15

Fabinger, Michal, 31

Fan, Haichao, 36

Feng, Qu, 27

Fesselmeyer, Eric, 18

Fidrmuc, Jarko, 24

Friedenberg, Amanda, 14

Fu, Haifeng, 33, 37

Fu, Qiang, 23

Fu, Yuming, 18

Fujiwara-Greve, Takako, 42

Fukuda, Katsufumi, 11

Fung, Herbert, 17

Furusawa, Taiji, 31

Gandhi, Amit, 31, 40

Ganioglu, Aytul, 45

Gao, Zhengyuan, 44

Gentry, Matthew, 31

Gerasimou, Georgios, 35

Ghosh, Sugata, 38

Goel, Rajeev K., 42

Gong, Qiang, 23

Green, Edward, 14, 18

Griffen, Drew, 15

Groeger, Joachim, 31

Gunji, Hiroshi, 37

Guo, Jang-Ting, 12

Guo, Liang, 44

Guo, Naijia, 16

Ham, John, 14, 20

Han, Li, 32

Hanaki, Nobuyuki, 40

Hara, Chiaki, 13

Hara, Hiromi, 22

Hashimoto, Tadashi, 45

Hashmi, Aamir Rafique, 21

Hayakawa, Hitoshi, 29

Hayakawa, Kazuhiko, 17

Hayashi, Takashi, 18

He, Jia, 10

He, Wei, 27

He, Xuedong, 32

Hendren, Nathaniel, 22

Hernandez Vega, Marco Aurelio, 19

Hessami, Zohal, 38

Hirano, Tomohiro, 12

Ho, Anson T. Y., 16

Ho, Teck-Hua, 5

Ho, Wai-Hong, 37

Honda, Toshiki, 13

Hong, Han, 5, 16

Hördahl, Peter, 35

Hori, Kazumi, 46

Houser, Daniel, 40

Hsiao, Yu-Ling Cody, 30

Hsieh, Chih-Sheng, 11

Hsieh, Yu-wei, 32

Hsu, Minchung, 17

Hsu, Wen-Tai, 13, 18, 31

Hsu, Yu-Chin, 22

Hu, Albert, 11

Hu, Audrey, 43

Hu, Tai-Wei, 20, 38

Hu, Weiwei, 10

Hu, Xu, 32

Huang, Ching-I, 21

Huang, Darien, 30

Hussain, Syed Muhammad, 34

Ichimura, Hidehiko, 12, 17, 22

In, Younghwan, 33

Ishikawa, Ryuichiro, 38

Iwasa, Kazumichi, 11

Jackson, Matthew, 5

Jain, Ritika, 43

Jain, Tarun, 35

Jiang, Yajing, 20

Jiao, Qian, 32

Jin, Sainan, 17

Jinnai, Yusuke, 10

Jo, Joong Lee, 44

Jochmans, Koen, 17

Ju, Biung-Ghi, 33

Ju, Jiandong, 13

Ju, Yuan, 39

Juarez, Ruben, 39

Jung, Hanjoon Michael, 38

Kaido, Hiroaki, 12

Kamihigashi, Takashi, 41

Kan, Kamhon, 16, 20

Kaneko, Mamoru, 38

Kano, Shigeki, 14

Kaplan, David, 27

Kapur, Basant, 11, 19

Karakas, Leyla D., 30

Kashiwagi, Masanori, 35

Kasuya, Yusuke, 46

Kato, Kengo, 12

Kawagoe, Toshiji, 10

Kawaguchi, Daiji, 12

Ke, Rongzhu, 20

Ke, Shaowei, 32

48


48

Keppo, Jussi, 32

Kikuchi, Tomoo, 12, 18, 23

Kim, Bo Min, 14

Kim, Jin Yeub, 33

Kim, Jinwoo, 39

Kim, Kyungmin, 35

Kim, Minho, 36

Kitagawa, Toru, 22

Kitano, Taiju, 43

Kiviet, Jan F., 13

Kiyotaki, Nobuhiro, 5

Klimova, Anastasia, 30

Kline, Jeffrey, 38

Kniesner, Thomas J., 10

Ko, Chiu Yu, 37

Ko, Giovanni, 26

Ko, Jun-Hyung, 46

Kóczy, László, 14

Koh, Dongya, 34

Koh, Youngwoo, 39

Kojima, Naoki, 20

Kokovin, Sergey, 20

Komatsubara, Takashi, 25

Kong, Yu-Chien, 16

Koo, Byung Lim, 40

Koo, Hyeng Keun, 21, 40

Koo, Jung Lim, 40

Kotowski, Maciej H., 43

Kou, Steven, 5, 32

Kouwenberg, Roy, 43

Kucuksenel, Serkan, 20

Kumar, Dushyant, 23

Kumru, Cagri, 17

Kunimoto, Takashi, 28

Kunitomo, Naoto, 28

Kurino, Morimitsu, 39

Kwon, Chul-Woo, 44

Lai, Hung-Pin, 25

Lai, Tat-kei, 41

Lai, Zhenyu, 21

Laibson, David, 5

Lazzati, Natalia, 35

Lee, David, 26

Lee, Gea M., 33

Lee, Jihong, 31

Lee, Jungmin, 26

Lee, Myoung-jae, 21

Lee, Sanghoon, 18

Lee, SangMok, 31

Lee, Wen-Chieh, 30

Leong, Chee Kian, 11

Leoni, Patrick, 43

Leung, Tin Cheuk, 11

Li, Bei, 27

Li, Bing, 17

Li, Degui, 10

Li, Huailu, 26

Li, Jia, 28

Li, Jianpei, 15

Li, Kai, 13

Li, King King, 44

Li, Li, 20

Li, Tong, 5, 21, 31

Li, Wei, 15

Li, Yi, 37

Li, Yingzhu, 46

Liang, Guo, 44

Liang, Meng-Yu, 38

Liang, Xin, 44

Liao, Jen-Che, 20

Liao, Junmin, 28

Liao, Wen-Chi, 26

Lien, Jaimie, 20

Lim, Byung Hwa, 44

Lin, Chang-Ching, 25

Liu, Bin, 41

Liu, Chu-An, 43

Liu, Haoming, 10, 15

Liu, Jia, 25

Liu, Shew Fan, 28

Liu, Xin, 10

Liu, Yan, 24

Liu-Evans, Gareth David, 28

Loertscher, Simon, 37

Lu, Chia-Hui, 12

Lu, Jingfeng, 23, 37

Lu, Xun, 22

Lu, Yi, 35

Lu, Zudi, 45

Lukyanov, Georgy Andreevich, 32

Luo, Xiao, 23, 28

Luo, Zijun, 41

Ma, Chenghu, 37

Macho-Stadler, Ines, 32

Maekawa, Jun, 12

Magnusson, Leandro Maschietto, 28

Maki, Atsushi, 42

Manjunath, Vikram, 39

Manopimoke, Pym, 17

Mariano, Roberto S., 16, 21

Marmer, Vadim, 44

Martins-Filho, Carlos, 16

Maskin, Eric, 5

Massala, Otso, 36

Massaro, Domenico, 39

Matsui, Akihiko, 36

Matsushima, Hitoshi, 12

McKenzie, Colin R, 36

Melo, Luis F., 17

Meng, Juanjuan, 21

Misaki, Hiroumi, 14

Mishra, Ajit, 25

Mishra, Debasis, 33

Mitra, Manipushpak, 33

Miyakoshi, Tatsuyoshi, 39

Mo, Pak-Hung, 26

Mohnen, Pierre, 11

Molnar, Jozsef, 17

Mondal, Debasis, 39

Mori, Tomoharu, 46

Mori, Tomoya, 18

Morimoto, Keiichi, 23

Morimoto, Shuhei, 43

Morita, Hiroshi, 38

Mueller-Frank, Manuel, 45

Murata, Yasusada, 13

Murayama, Kota, 14

Mutlu, Gulseren, 35

Nagamachi, Kohei, 29

Naghavi, Alireza Jay, 13

Nahata, Babu, 14

Nakabayashi, Masaki, 36

Nakata, Hiroyuki, 37

Nandeibam, Shasikanta, 38

Naraparaju, Karthikeya, 43

Nguyen, Quang, 20

Nguyen, Viet Hoang, 19

Niizeki, Takeshi, 42

Ning, Cathy, 16

Nishimura, Kazuo, 11

Niu, Linlin, 15

Noguchi, Mitsunori, 41

Noy, Ilan, 12

Obayashi, Shinya, 42

Oh, Catherine, 22

Oka, Tatsushi, 27

Ong, EeCheng, 16

Ong, Qiyan, 40

Ouyang, Min, 45

Ozaki, Hiroyuki, 27

Pai, Mallesh, 45

Pal, Sarmistha, 15

Pan, Jessica, 20, 26

Pantano, Juan, 16

Park, Albert, 32

Park, JungJae, 18

Parker, Thomas, 27

Parreiras, Sergio O., 23

Pavan, Alessandro, 5

Peng, Shin-Kun, 13, 18

Peng, Tao, 45

Peng, Xianhua, 32

Pepito, Nona, 46

Pérez-Castrillo, David, 23

Pistolesi, Nicolas, 16

Png, Ivan, 11

Pokrovsky, Dmitry, 44

Poldermans, Rutger, 13

Polemarchakis, Herakles, 39

Polisson, Matthew, 35

Poyago-Theotoky, Joanna, 39

Qian, Jiwei, 22

Qian, Neng, 46

Qian, Wenlan, 10

Qiao, Lei, 41

Qin, Cheng-Zhong, 33

Quah, Euston, 26

Quah, John, 30, 35

Rabin, Matthew, 5

Rambaldi, Alicia N., 28

Rao, Yao, 40

Ratan, Anmol, 41

Rath, Kali P., 41

Resende, Joana, 14

Rhee, Ki-Eun, 33

Rhodes, Andrew Jonathan, 36

Riyanto, Yohanes Eko, 40

Roberts, Joanne, 22

Rodriguez-Poo, Juan M., 27

Roger, Guillaume F., 36

Romalis, John, 31

49


49

Rong, Kang, 32

Rosato, Antonio, 31

Rosen, Adam, 21

Sagara, Nobusumi, 41

Saha, Anuradha, 28

Saha, Mimika, 38

Saijo, Tatsuyoshi, 36

Salcedo, Bruno, 42

Salonen, Hannu, 39

Salvo, Alberto, 38

Sano, Ryuji, 37

Sarafidis, Vasilis, 27

Saran, Rene, 42

Sasaki, Masaru, 12

Sasaki, Yuya, 17

Sawada, Yasuyuki, 32

Segev, Ella, 23

Shachat, Jason, 20

Shan, Yaping, 42

Shao, Lei, 12

Shao, Ran, 18

Shen, Bo, 25

Sheng, Shuyang, 11

Shimotsu, Katsumi, 12

Shin, Yong Hyun, 44

Shrestha, Slesh, 26

Shum, Matthew, 5, 11, 26, 31

Siddiqui, Martin, 15

Sidorov, Alexander, 24

Sikdar, Shiva, 26

Siklos, Pierre L., 17

Sim, Nicholas, 15

Sim, Seung-Gyu (Andrew), 46

Slonimczyk, Fabian, 38

Sng, Tuan Hwee, 26, 43

Sohn, Sung Bin, 35

Song, Changcheng, 36, 46

Song, Xiaojun, 40

Song, Zheng Michael, 30

Sriananthakumar, Sivagowry, 40

Srisuma, Sorawoot, 29

Stachurski, John, 41

Stern, Steven, 10

Stinchcombe, Maxwell, 42

Strulovici, Bruno, 30, 46

Su, Liangjun, 27

Su, Tong, 14

Sun, Juliana Yu, 44

Sun, Xiang, 18

Sun, Yeneng, 5, 18

Sun, Yifei, 28

Sunakawa, Takeki, 28

Sung, Yusen, 43

Suzuki, Keishun, 11

Suzuki, Yutaka, 30

Takahashi, Satoru, 42

Tamer, Elie, 5

Tan, Chorh Chuan, 5

Tang, Qianfeng, 23

Tang, Yang, 18

Thangavelu, Shandre M., 45

Theseira, Walter E, 25

Tkachenko, Denis, 17

Toh, Mun Heng, 15

Tonogi, Akiyuki, 39

Topinskiy, Valeriy, 43

Tourky, Rabee, 27

Tran, Duong Lam Anh, 45

Tsay, Wen-Jen, 25

Tsuruga, Takayuki, 23

Tsyplakov, Alexander, 43

Tuteja, Divya, 46

Ueng, Shyh-Fang, 28

Ushchev, Philip, 25

Uto, Nobuyuki, 36

Vachadze, George, 18

Von Ehrlich, Maximilian, 34

Vu, Tuan Khai, 19

Wan, Jing, 27

Wan, Yuanyuan, 10

Wang, Ben, 23

Wang, Cheng, 32

Wang, Chien-Ho, 20

Wang, Hung-Jen, 25

Wang, Jin, 23

Wang, Jinjing, 35

Wang, Liang Choon, 32

Wang, Luhang, 35

Wang, Peng, 42

Wang, Ping, 30

Wang, Qing, 15

Wang, Ruixin, 22

Wang, Xuexin, 40

Wang, Yin-Chi, 30

Wang, Yong, 37

Wang, Zhi, 26

Warusawitharana, Missaka, 28

Wasser, Cédric, 37

Watanabe, Naoki, 33

Wee, Shu Lin, 20

Wei, Lijia, 41

Weng, Xi, 15

Wieland, Elisabeth, 24

Wittmann, Nils, 22

Wolak, Frank, 5

Won, Dongchul, 40, 44

Wong, Chi Leung Adam, 15

Wong, Wei-Kang, 20

Wong, Wing-Keung, 44

Wright, Julian, 5, 17, 33

Wu, Guiying (Laura), 15

Wu, Qinggong, 46

Xia, Chun, 37

Xiong, Wei, 5

Xiu, Dacheng, 30

Xu, Haibo, 42

Xu, Haiqing, 20

Xu, Jiawen, 43

Xu, Shaofeng, 13

Xu, Zhiwei, 32

Xue, Jingyi, 23

Yamamoto, Yohei, 19

Yan, Yang, 21

Yanagawa, Noriyuki, 18

Yang, Cheng-Chen, 17

Yang, Chih-Chun, 23

Yang, Chun-Lei, 42

Yang, Nan, 21

Yang, Yi-You, 38

Yang, Youzhi, 32

Yang, Zhenlin, 13

Yao, Masayuki, 41

Yao, Zhiyong, 37

Yeh, Chun-Hsien, 38

Yen, Yu-Min, 21

Yew, Siew Ling, 27

Yim, Andrew, 42

Yip, Chong K., 30

Yoo, Jane, 40

Yoo, Seung Han, 25

Yoon, Jungmo, 27

Yu, Haomiao, 30, 41

Yu, Jun, 16

Yuan, Haishan, 43

Yuan, Jia, 25

Yuki, Kazuhiro, 22

Yun, Kwan Koo, 45

Zeng, Chenhang, 25

Zeng, Chloe Qianzi, 46

Zeng, Jinli, 27

Zhang, Guoxiong, 41

Zhang, Jane, 32

Zhang, Jianlin, 36

Zhang, Jie, 27

Zhang, Junsen, 11

Zhang, Min, 22

Zhang, Pengfei, 18

Zhang, Rui, 18

Zhang, Xiaolan, 24

Zhang, Yahong, 22

Zhang, Yi, 46

Zhang, Yichong, 14

Zhang, Yongchao, 32, 37

Zhao, Xiaojian, 31

Zheng, Jie, 37

Zheng, Yu, 37

Zhong, Songfa, 40, 43

Zhou, Hao, 28

Zhou, Junjie, 30

Zhu, Shenghao, 17

Zimran, Ariell, 26

Zlate, Andrei, 18

Zudenkova, Galina, 25

50

Maps

50

National University of Singapore, 2 College Avenue West, Singapore 138607

51

Maps

51

Grand Copthorne Waterfront Hotel, 392 Havelock Road, Singapore 169663

52

Maps

52

53

Maps

53

Chui Huay Lim Club, 190 Keng Lee Road, Singapore 308409

54

We acknowledge the support from the following sponsors:

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2 - 4 AUGUST 2013, SINGAPORE · Grand Copthorne Waterfront Hotel Session 1 8:30 - 10:30 am Session 2 11 am - 1 pm Veranda 1 Investors and households behavior Organizer: Deng, Yongheng