Programme Overview

(All in Malaysia Time)

Programme in Pdf format


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June 24, 2021 (Thursday)
08:00 – 09:30 Sargan Lecture I [Azeem Shaikh, University of Chicago]
21:00 – 22:30 Sargan Lecture II [Azeem Shaikh, University of Chicago]
June 25, 2021 (Friday)
08:00 – 08:30 Opening Ceremony
08:30 – 09:15 Presidential Address [Penny Goldberg, Yale University]
09:15 – 09:30 Coffee/Tea Break
09:30 – 10:15 Keynote Lecture I [Cheng Hsiao, University of Southern California]
10:15 – 10:30 Coffee/Tea Break
10:30 – 12:00 Contributed Sessions (AM04, AM05, AM15, AM22, AM25, AM28, AM34, AM42, AM45)
12:00 – 13:00 Lunch Break
13:00 – 14:30 Contributed Sessions (AS01, AS02, AS14, AS26, AS32, AS36, AZ01)
14:30 – 14:45 Coffee/Tea Break
14:45 – 16:15 Contributed Sessions (AS03, AS04, AS15, AS24, AS37, AS38, AZ02, EU22)
16:15 – 16:30 Coffee/Tea Break
16:30 – 18:00 Contributed Sessions (EU01, EU05, EU07, EU08, EU13, EU19, EU23, EU26)
18:00 – 19:00 Dinner Break
19:00 – 20:30 Contributed Sessions (AS18, AS20, AZ03, EU04, EU09, EU18, EU21)
20:30 – 20:45 Coffee/Tea Break
20:45 – 22:15 Contributed Sessions (AM06, AM07, AM18, AM19, AM23, AM30, AM31, AM38, AM44)
22:15 – 23:00
Coffee/Tea Break
June 26, 2021 (Saturday)
08:30 – 09:15 Keynote Lecture II [Dilip Mookherjee, Boston University]
09:15 – 09:30 Coffee/Tea Break
09:30 – 10:15 Keynote Lecture III [Vincent Crawford, University of Oxford & University of California San Diego]
10:15 – 10:30 Coffee/Tea Break
10:30 – 12:00 Contributed Sessions (AM08, AM11, AM13, AM24, AM27, AM32, AM35, AM39, AM43)
12:00 – 13:00 Lunch Break
13:00 – 14:30 Contributed Sessions (AS05, AS06, AS16, AS19, AS23, AS25, AS33)
14:30 – 14:45 Coffee/Tea Break
14:45 – 16:15 Contributed Sessions (AS07, AS08, AS22, AS31, AS34, AS41, EU10)
16:15 – 16:30 Coffee/Tea Break
16:30 – 18:00 Contributed Sessions (AS09, AS10, AS17, AS30, EU11, EU14, EU15)
18:00 – 19:00 Dinner Break
19:00 – 19:45 Keynote Lecture VI [Serena Ng, Columbia University]
19:45 – 20:00 Coffee/Tea Break
20:00 – 20:45 Keynote Lecture V [Daron Acemoglu, Massachusetts Institute of Technology]
20:45 – 21:00 Coffee/Tea Break
21:00 – 22:30 Contributed Sessions (AM02, AM09, AM12, AM14, AM20, AM26, AM33, AM37, AM40, AM46)
22:30 – 23:00
Coffee/Tea Break
June 27 (Sunday)
08:30 – 09:15 Keynote Lecture VI [Whitney Newey, Massachusetts Institute of Technology]
09:15 – 09:30 Coffee/Tea Break
09:30 – 10:15 Keynote Lecture VII [Guido Imbens, Stanford University]
10:15 – 10:30 Coffee/Tea Break
10:30 – 12:00 Contributed Sessions (AM01, AM03, AM10, AM16, AM17, AM21, AM29, AM36, AM41)
12:00 – 13:00 Lunch Break
13:00 – 14:30 Contributed Sessions (AS11, AS12, AS21, AS27, AS35, AS40, AZ05)
14:30 – 14:45 Coffee/Tea Break
14:45 – 16:15 Contributed Sessions (AS13, AS28, AS39, AZ04, EU03, EU12, EU20)
16:15 – 16:30 Coffee/Tea Break
16:30 – 18:00 Contributed Sessions (AS29, EU02, EU06, EU16, EU17, EU24, EU25)
18:00 – 19:00 Dinner Break
19:00 – 19:45 Keynote Lecture VIII [Bruce Hansen, University of Wisconsin-Madison]
19:45 – 20:00 Coffee/Tea Break
20:00 – 20:45 Chow Lecture [Robert Shiller, Yale University]
20:45 – 21:00 Closing Ceremony


Keynote Lectures and Opening/Closing Ceremonies

June 24, 2021 (Thursday)

8:00 – 9:30 Sargan Lecture I

Inference for Ranks with Applications

Azeem Shaikh, University of Chicago

Chair: Siong Hook Law, Universiti Putra Malaysia


21:00 – 22:30 Sargan Lecture II

Inference for Large-Scale Linear Systems with Known Coefficients

Azeem Shaikh, University of Chicago

Chair: Evan Lau, Universiti Malaysia Sarawak

June 25, 2021 (Friday)

8:00 – 8:30 Opening Ceremony

Pinelopi Koujianou Goldberg (Yale University), President, the Econometric Society

Simon Leunig (Curtin University Malaysia), Pro Vice-Chancellor and President & Chief Executive of Curtin University Malaysia

Dilip Mookherjee (Boston University), Chair of the Asia Regional Standing Committee and Econometric Society Executive Committee member

Chair: Yongmiao Hong, University of Chinese Academy of Sciences


8:30 – 9:15 Presidential Address

Demand-side Constraints in Development: The Role of Market Size, Trade, and (In)equality

Pinelopi Koujianou Goldberg, Yale University

Chair: Yongmiao Hong, University of Chinese Academy of Sciences


9:30 – 10:15 Keynote Lecture I

Panel Interactive Effects Models

Cheng Hsiao, University of Southern California

Chair: Jun Yu, Singapore Management University

June 26 (Saturday)

8:30 – 9:15 Keynote Lecture II

Growth, Automation, and the Long-Run Share of Labor

Dilip Mookherjee, Boston University

Chair: Kong-Pin Chen, Institute of Economics, Academia Sinica


9:30 – 10:15 Keynote Lecture III

Meaningful Theorems: Nonparametric Analysis of Reference-Dependent Preferences

Vincent Crawford, University of Oxford & University of California San Diego

Chair: Farshid Vahid, Monash University


19:00 – 19:45 Keynote Lecture VI

Factor based Imputation of Missing Values

Serena Ng, Columbia University

Chair: Yue Ma, City University of Hong Kong


20:00 – 20:45 Keynote Lecture V

Automation, Tasks and the Future of Labor

Daron Acemoglu, Massachusetts Institute of Technology

Chair: Tadashi Sekiguchi, Kyoto University


June 27 (Sunday)

8:30 – 9:15 Keynote Lecture VI

Automatic Debiased Machine Learning

Whitney Newey, Massachusetts Institute of Technology

Chair: Liangjun Su, Tsinghua University


9:30 – 10:15 Keynote Lecture VII

Causal Panel Data Models

Guido Imbens, Stanford University

Chair: Songnian Chen, The Hong Kong University of Science and Technology


19:00 – 19:45 Keynote Lecture VIII

Developments in Finite Sample and Exact Inference

Bruce Hansen, University of Wisconsin-Madison

Chair: Liyan Yang, University of Toronto


20:00 – 20:45 Chow Lecture

The Economic Impact of Contagious Narratives

Robert Shiller, Yale University

Chair: Penny Goldberg, Yale University


20:45 – 21:00 Closing Ceremony

Pinelopi Koujianou Goldberg (Yale University), President, the Econometric Society

Atsushi Kajii (Kwansei Gakuin University), Secretary of the Asia Regional Standing Committee

Simon Leunig (Curtin University Malaysia), Pro Vice-Chancellor and President & Chief Executive of Curtin University Malaysia

Chair: Yongmiao Hong, University of Chinese Academy of Sciences


Contributed Sessions

(* Presenter)

Macroeconomic Risk
AM01: Macroeconomic Risk (Chair: Aleksei Chernulich)

ROC Approach to Forecasting Recessions using Daily Yield Spreads (355)

Kajal Lahiri*; University at Albany – State University of New York

Cheng Yang; Liaoning University


Using FOMC Meetings Transcripts for Forecasting Federal Funds Rates (521)

Eamon McGinn; University of Technology Sydney

Aleksei Chernulich*; New York University Abu Dhabi

Mengheng Li; University of Technology Sydney


The Credit Channel of Monetary Policy Before and After the ZLB: Evidence from the US Equity Market. (578)

Mira Farka*; California State University, Fullerton


Stock Market/Microstructure/Volatility
AM02: Analysis of Stock Market (Chair: Peter Lerner)

Dual State-Space Model of Market Liquidity: The Chinese Experience 2009-2010 (46)

Peter Lerner*; Wenzhou Kean University (ret.) & Anglo-American University


The good, the bad and the asymmetric: Evidence from a new conditional density model (417)

Dmitry Malakhov; Higher School of Economics

Andreï Kostyrka*; University of Luxembourg


Networks and Business Cycles (599)

Yucheng Yang; Princeton University

Wu Zhu*; University of Pennsylvania


A General Equilibrium Model of Dynamic Reference Dependence (462)

Hyeon Park*; Manhattan College


Development Economics
AM03: Rural Economics (Chair: Serguei Maliar)

Free Power, Irrigation and Groundwater Depletion: Impact of the Farm Electricity Policy of Punjab, India (25)

Disha Gupta*; Delhi School of Economics


Newborns during the Crisis: Evidence from the 1980s’ Farm Crisis (110)

Chan Yu*; University of International Business and Economics


Deep Learning Classification: Modeling Discrete Labor Choice (512)

Lilia Maliar; The Graduate Center, The City University of New York

Serguei Maliar*; Santa Clara University


Selective Accumulation of Ideas: Accounting for the Decline in Entry Rate (415)

Dohyeon Lee*; University of California, Santa Cruz


Applied Econometrics
AM04: Poverty in Rural South Asia (Chair: Nicholas Lawson)

Optimal Basic Income for India (92)

Nicholas Lawson*; Université du Québec à Montréal

Dean Spears; The University of Texas at Austin


Dowries, Resource Allocation, and Poverty (268)

Rossella Calvi; Rice University

Ajinkya Keskar*; Rice University


Enter stage left: immigration and the creative arts in America (325)

Kanatip Winichakul; University of Pittsburgh

Ning Zhang*; University of Pittsburgh


Consequences of Cambodian Refugees (492)

Katsuo Kogure; University of Aizu

Masahiro Kubo*; Brown University


AM05: Identification in Social Interaction (Chair: Ivan Mendieta-Munoz)

Identification and Estimation of Social Interactions in Endogenous Peer Groups (437)

Shuyang Sheng*; University of California, Los Angeles

Xiaoting Sun; Simon Fraser University


Bayesian analysis of structural correlated unobserved components and identification via heteroskedasticity (50)

Ivan Mendieta-Munoz*; University of Utah


Containing the COVID-19 Pandemic: What Determined the Speed of Government Interventions? (442)

Iulia Siedschlag; The Economic and Social Research Institute

Weijie Yan*; The Economic and Social Research Institute


What drives trends in employment to population ratios? (432)

Huiyu Li*; Federal Reserve Bank of San Francisco

Nicolas Petrosky-Nadeau; Federal Reserve Bank of San Francisco


AM06: Social Network and Dependence (Chair: Jiawei Chen)

Diffusion Processes with Private Network Information (551)

Yiran Xie*; University of California, Los Angeles


Home Types, Swinging Construction and Housing Prices (114)

Hongfei Sun; Queen’s University

Shaofeng Xu*; Renmin University of China


Sources of State Dependence in Brand Choices: Learning vs. Switching Costs (129)

Nahyeon Bak;

Daisoon Kim*; North Carolina State University


An Empirical Model of the Effects of “Bill Shock” Regulation in Mobile Telecommunication Markets (223)

Jiawei Chen*; University of California, Irvine

Lai Jiang; University of California, Irvine

Saad Andalib Syed Shah; University of California, Irvine


AM07: Endogeneity and Identification (Chair: Carolina Caetano)

Using Monotonicity Restrictions to Identify Models with Partially Latent Covariates (350)

Minji Bang; University of Pennsylvania

Wayne Gao*; University of Pennsylvania

Andrew Postlewaite; University of Pennsylvania

Holger Sieg; University of Pennsylvania


Correcting for Endogeneity in Models with Bunching (358)

Carolina Caetano*; University of Georgia

Gregorio Caetano; University of Georgia

Eric Nielsen; Federal Reserve Board


Scoring a Touchdown with Variable Pricing: Evidence from a Quasi-Experiment in the NFL Ticket Markets (433)

Hayri Arslan*; University of Texas at San Antonio

Ovunc Yilmaz; University of Colorado Boulder


Competing for Time: A Study of Mobile Applications (531)

Han Yuan*; The University of Arizona


AM08: Trade Issues (Chair: Priyam Verma)

Optimal Infrastructure after Trade Reform in India (17)

Priyam Verma*; University of Houston


Trade Adjustment: Establishment-Level Evidence (318)

Ziho Park*; University of Chicago


Import Competition and Firms’ Internal Networks: An Establishment-level Analysis (351)

Vladimir Smirnyagin*; Yale University


Financial Constraints, Innovation Quality, and Growth (394)

Yu Cao*; World Bank Group


AM09: Social Communication (Chair: Hitoshi Shigeoka)

Individual Choice under Social Influence (130)

Boyao Li*; New York University


Lying Aversion and Vague Communication: An Experimental Study (273)

Guangying Chen; Washington University in St. Louis

Keh-Kuan Sun*; Washington University in St. Louis


Unacknowledged Heterogeneity in Communication (340)

Kyle Chauvin*; Harvard University


Temporal Instability of Risk Preference among the Poor: Evidence from Payday Cycles (535)

Mika Akesaka; Osaka University

Peter Eibich; Max Planck Institute for Demographic Research

Chie Hanaoka; Toyo University

Hitoshi Shigeoka*; Simon Fraser University and NBER


AM10: Firm Level Analysis (Chair: Liuchun Deng)

Robot Adoption at German Plants (119)

Liuchun Deng*; Yale-NUS College

Verena Pluempe, Halle Institute for Economic Research

Jens Stegmaier, Institute for Employment Research


Spillovers and Redistribution through Intra-Firm Networks: The Product Replacement Channel (37)

Jay Hyun*; HEC Montréal

Ryan Kim; Johns Hopkins University


Migration, Housing Constraints, and Inequality: A Quantitative Analysis of China (150)

Min Fang*; University of Rochester


Unilateral Divorce, Assortative Mating, and Household Income Inequality (506)

Sitian Liu*; Queen’s University


AM11: Distributional Approach (Chair: Gloria Gonzalez-Rivera)

Algorithmic Subsampling under Multiway Clustering (288)

Harold Chiang; University of Wisconsin-Madison

Jiatong Li*; Vanderbilt University

Yuya Sasaki; Vanderbilt University


Dispersion in Financing Costs and Development (582)

Tiago Cavalcanti; University of Cambridge

Joseph Kaboski*; University of Notre Dame

Bruno Martins; Banco Central do Brasil

Cezar Santos; Banco de Portugal and FGV EPGE


Distribution-Dependent Value of Money: A Coalition-Proof Approach to Monetary Equilibrium (161)

Suk Lee*; Bank of Korea


Expecting the unexpected: economic growth under stress (347)

Gloria Gonzalez-Rivera*; University of California, Riverside

Vladimir Rodriguez-Caballero; ITAM & CREATES

Esther Ruiz; Universidad Carlos III de Madrid


AM12: Experimental Design and Applications (Chair: Yunus Aybas)

Algorithm is Experiment: Machine Learning, Market Design, and Policy Eligibility Rules (293)

Yusuke Narita*; Yale University

Kohei Yata; Yale University


Global sales, international currencies and the currency denomination of debt (210)

Riccardo Colacito; University of North Carolina at Chapel Hill

Yan Qian*; University of North Carolina at Chapel Hill

Andreas Stathopoulos; University of North Carolina at Chapel Hill


A tale of gold and blood: The unintended consequences of gold-market regulation on local violence (472)

Leila A R Pereira*; Insper
Rafael Pucci; Insper


Persuasion with Coarse Communication (144)

Yunus Aybas*; Stanford University

Eray Turkel; Stanford University


Econometric Theory
AM13: Robust Approach and Applications (Chair: Claudia Moise)

Housing Collateral Reform and Economic Reallocation (511)

Dimas Fazio*; National University of Singapore

Thiago Silva; Central Bank of Brazil


Improved Estimation by Simulated Maximum Likelihood (488)

Kirill Evdokimov; Universitat Pompeu Fabra

Ilze Kalnina*; North Carolina State University


High-Frequency Arbitrage and Market Illiquidity (282)

Claudia Moise*; Duke University, Fuqua School of Business


Do Lenders Still Discriminate? A Robust Approach for Assessing Differences in Menus (384)

David Zhang*; Harvard Business School

Paul Willen; Federal Reserve Bank of Boston


AM14: Nonparametric Regressions and Applications (Chair: Daniel Henderson)

A Note on Endogeneity Resolution in Regression Models for Comparative Studies (39)

Ravi Kashyap*; City University of Hong Kong


Simulation-based estimation with many auxiliary statistics applied to long-run dynamic analysis (542)

Bertille Antoine; Simon Fraser University

Wenqian Sun*; Simon Fraser University


Model free difference-in-differences with confounders (466)

Daniel Henderson*; University of Alabama

Stefan Sperlich; Universite de Geneve


Spatial dynamic differential game models: a leader and followers with multiple activities (524)

Hanbat Jeong*; The Ohio State University

Lung-fei Lee; Ohio State University


AM15: Model Detection and Testing (Chair: Florian Richard)

Why Does Structural Change Accelerate in Recessions? The Credit Reallocation Channel (14)

Cooper Howes*; Federal Reserve Bank of Kansas City


IV Models with Missing Outcomes and Treatments, with Application to Oregon Health Insurance Experiment (235)

Shenshen Yang*; University of Texas at Austin



The Partial Monotonicity Parameter: A Generalization of Regression Monotonicity (345)

Scott Kostyshak*; University of Florida

Ye Luo; University of Hong Kong


Simulation-based multiple testing for many non-nested multivariate models (479)

Lynda khalaf; Carleton University

Florian Richard*; Carleton University


AM16: Estimation and Inferences (Chair: Soonwoo Kwon)

Shape Constrained Kernel PDF and PMF Estimation (67)

Christopher Parmeter*; University of Miami

Jeffrey Racine; McMaster University


Endogeneity in Modal Regression (232)

Tao Wang*; University of California at Riverside


Inference in Regression Discontinuity Designs under Monotonicity (577)

Koohyun Kwon; Yale University

Soonwoo Kwon*; Yale University


Robust Conditional Kurtosis and the Cross-Section of International Stock Returns (502)

Ruifeng Liu*; University of Guelph

Alex Maynard; University of Guelph

Ilias Tsiakas; University of Guelph


Corporate Finance
AM17: Investment and Banking (Chair: Dan Luo)

Financing With Investor Syndicates (392)

Dan Luo*; Stanford University


Group Identity and Agency Frictions: Evidence using Big Data (71)

Jitendra Aswani*; Fordham University


Selling Bubbles (176)

Leifu Zhang*; Washington University in St. Louis


Does the Internet Replace Brick-and-Mortar Bank Branches? (198)

Minhae Kim*; Ohio State University


AM18: Credit and Asset Pricing (Chair: David Rappoport)

NIMBYs and Credit Supply (241)

Seyit Gokmen*; University of Birmingham

Danny McGowan; University of Birmingham

Tianshu Zhao; Birmingham business school


Deep Learning for Conditional Asset Pricing Models (336)

Hongyi Liu*; Washington University in St. Louis


Optimal Design of Funding for Lending Programs (562)

David Arseneau; Federal Reserve Board

David Rappoport*; Federal Reserve Board


Best Laid Plans: Economic Consequences of Shadow Banking Crackdown (427)

Bo Jiang*; George Washington University


Applied Microeconomic Theory
AM19: Contracts and Incentives (Chair: Fernando Ferreira)

The Organization of Innovation: Incomplete Contracts and the Outsourcing Decision (22)

Thomas Jungbauer*; Cornell University

Sean Nicholson; Cornell University

June Pan; VISA

Michael Waldman; Cornell University


The Valuation of Local Government Spending: Gravity Approach and Aggregate Implications (33)

Wookun Kim*; Southern Methodist University


On the Role of Learning, Human Capital, and Performance Incentives for Wages (398)

Braz Camargo; Sao Paulo School of Economics – FGV

Fabian Lange*; McGill University

Elena Pastorino; Stanford University

Estimating Preferences for Neighborhood Amenities Under Imperfect Information (407)

Fernando Ferreira*; The Wharton School, University of Pennsylvania, & NBER

Maisy Wong; University of Pennsylvania


AM20: Discrete Choice and Applications (Chair: David Ovadia)

Information and Communication Technology and Firm Geographic Expansion (416)

Xian Jiang*; Duke University


The Human Side of Cyber Property Rights: Theory and Evidence from Github (423)

Pengfei Zhang*; Cornell University


Deception, Demand, and Social Welfare: A Discrete Choice Approach (507)

David Ovadia*; Federal Trade Commission (USA)


Unity in Diversity: How Norms of Compromise Enable Cooperation (532)

Saumya Deojain*; Washington University in  St Louis


AM21: Game and Applications (Chair: Gregorio Caetano)

Growing Influence (459)

Zheng Gong*; University of Toronto


The effect of advertising on voting & abstention – Analysis using Dirichlet Regression (467)

Osama Khan*; University of Rochester


Gacha Game: Selling a Unit Good to a Prospect Theory Consumer (295)

Tan Gan*; Yale University


A Unified Empirical Framework to Study Segregation (362)

Gregorio Caetano*; University of Georgia

Vikram Maheshri; University of Houston


AM22: Endogeneity and Heterogeneity (Chair:  Francisco Garrido)

Optimal Allocations to Heterogeneous Agents with an Application to the COVID-19 Stimulus Checks (544)

Vegard Nygaard; University of Houston

Bent Sorensen; University of Houston

Fan Wang*; University of Houston


Matching Mechanisms, Justified Envy, and College Admissions Outcomes (584)

Yang Song*; Colgate University


Mergers Between Multi-Product Firms With Endogenous Products: Theory and an Application to the RTE-Cereal Industry (156)

Francisco Garrido*; ITAM


Information Transparency of Firm Financing (587)

Antoine Noël; Queen’s University

Hongfei Sun*; Queen’s University


Financial Market
AM23: Quantile Regression and Applications (Chair: Grakolet Gourène)

Attention Allocation and Uncertainty Contagion (257)

Zu Yao Hong*; University of Maryland, College Park


Are mobile money and financial accounts complementary? Evidence from the WAEMU region (84)

Grakolet Gourène*; Université Jean Lorougnon Guédé


The Tradeoff between Discrete Pricing and Discrete Quantities: Evidence from S.-listed Firms (455)

Sida Li; University of Illinois at Urbana-Champaign

Mao Ye*; University of Illinois at Urbana-Champaign


The Identifying Information in the Forecast Error Variance: an Application to Endogenous and Heterogeneous Uncertainty and its Relationship with Financial Shocks (184)

Alessio Volpicella*; University of Surrey

Andrea Carriero; Queen Mary Univerity of London


AM24: Financial Expectations (Chair: Keisuke Teeple)

Expectation Anchoring and Brownian Motion in Financial Markets (20)

Keisuke Teeple*; University of California Davis


Bank Runs, Bank Competition and Opacity (52)

Toni Ahnert*; Bank of Canada and CEPR

David Martinez-Miera; Universidad Carlos III


The Power of Love: Emotional Support and Financial Hardship (83)

Da Ke*; University of South Carolina


Imperfect Exchange Rate Expectations (197)

Giacomo Candian; HEC Montréal

Pierre De Leo*; University of Maryland


AM25: Financial Network (Chair: Chaoran Chen)

Finance, Endogenous TFP, and Misallocation (49)

Chaoran Chen*; York University

Ashique Habib; IMF

Xiaodong Zhu; University of Toronto


Applications of Markov Chain Approximation Methods to Optimal Control Problems in Economics (406)

Thomas Phelan*; Federal Reserve Bank of Cleveland


Optimally Targeting Interventions in Networks during a Pandemic (356)

Roland Pongou; University of Ottawa

Guy Tchuente; University of Kent

Jean-Baptiste Tondji*; The University of Texas Rio Grande Valley


Network Structure and Efficiency Gain from Mergers: Evidence from the U.S. Freight Railroads (418)

Yanyou Chen*; University of Toronto


AM26: Risk Analysis (Chair: Gergely Horvath)

Private Overborrowing under Sovereign Risk (276)

Fernando Arce Munoz*; University of Minnesota


Kill Zone or Opportunities? Aggregate Impact of Rising Intangibles on Productivity and Innovation (298)

Shihan Shen*; University of California, Los Angeles


The impact of taste-based discrimination and pay transparency on job search behavior: An experimental analysis (97)

Gergely Horvath*; Duke Kunshan University


Expectile Regression Based Decomposition (316)

Abdoul Aziz Ndoye*; University of Orleans- Laboratoire d’Economie d’Orléans


Macroeconomic Dynamics
AM27: Macroeconomic Dynamic and Aggregate Theory (Chair: Tamon Asonuma)

Flattening of the Phillips Curve: Causes and Their Policy Implications (440)

Chen Kan*; University of Rochester


Fiscal Expenditure Consolidation and Sovereign Debt Relief: Front-loaded or Back-loaded (482)

Tamon Asonuma*; International Monetary Fund

Hyungseok Joo; University of Surrey


Innovator Heterogeneity, R&D Misallocation and the Productivity Growth Slowdown (202)

Stephen Ayerst*; International Monetary Fund


A real theory of aggregate demand shortages (405)

Dan Cao; Georgetown University

Ehsan Ebrahimy*; International Monetary Fund


AM28: Macroeconomic Dynamic Analysis (Chair: Yucheng Yang)

Estimating Production Functions in Differentiated-Product Industries with Quantity Information and External Instruments (66)

Nicolás de Roux; Universidad de los Andes

Marcela Eslava; Universidad de Los Andes

Santiago Franco*; University of Chicago

Eric Verhoogen; Columbia University


The Knowledge Graph for Macroeconomic Analysis with Alternative Big Data (596)

Yucheng Yang*; Princeton University


The “Matthew Effect” and Market Concentration: Search Complementarities and Monopsony Power (93)

Jesus Fernandez-Villaverde; University of Pennsylvania

Federico Mandelman*; Federal Reserve Bank of Atlanta

Yang Yu; Shanghai University of Finance and Economics

Francesco Zanetti; University of Oxford


Judicial Quality, Efficiency, and Firm Boundary Decisions (505)

Mengxiao Liu*; Syracuse University


AM29: Macroeconomic Dynamic and Credit (Chair: Yinxi Xie)

Credit Condition, Inflation and Unemployment (280)

Liang Wang*; University of Hawaii Manoa


Consumer Durables and the Distributional Effects of Credit Supply Shocks (369)

Mengli Sha*; the Pennsylvania State University


The Wedge of the Century: Understanding a Divergence between CPI and PPI Inflation Measures (508)

Yinxi Xie*; Bank of Canada


Pulled down by the state: the effect of sovereign shocks on banks’ health in the European sovereign crisis (328)

Caterina Rho*; Banco de Mexico


AM30: Dynamic Production (Chair: Piyush Panigrahi)

Multinational production and global shock propagation during the Great Recession (453)

Haishi Li*; University of Chicago


Sectoral Fiscal Multipliers and Technology in Open Economy (428)

Olivier Cardi*; Lancaster University Management School


Endogenous Spatial Production Networks: Quantitative Implications for Trade and Productivity (108)

Piyush Panigrahi*; University of California, Berkeley


An Essay on Market Concentration and Economic Cyclicality (109)

Ke Chao*; Washington University in St. Louis


Monetary Policy
AM31: Sovereign Debt and Risk (Chair: Massimo Morelli)

Sovereign Debt Sustainability and Redistribution (274)

Monica Tran-Xuan*; University at Buffalo


Private Fiscal Information and Sovereign Default Risk (289)

Siming Liu; Shanghai University of Finance and Economics

Ruoyun Mao*; Grinnell College

Hewei Shen; University of Oklahoma


Diagnostic Expectations and Macroeconomic Volatility (245)

Jean-Paul L’Huillier*; Brandeis University

Sanjay Singh; University of California, Davis

Donghoon Yoo; Osaka University


Complexity and the Reform Process (40)

Dana Foarta; Stanford Graduate School of Business

Massimo Morelli*; Bocconi University


AM32: Monetary Policy and Network (Chair: Patrick Kehoe)

Firm Inattention and the Efficacy of Monetary Policy: A Text-Based Approach (465)

Wenting Song*; University of Michigan

Samuel Stern; University of Michigan


The Effects of the Minimum Wage in the Short and in the Long Run (386)

Erik Hurst; University of Chicago

Patrick Kehoe*; Stanford University

Elena Pastorino; Stanford University

Thomas Winberry; University of Pennsylvania


Distilling network effects from Steam (346)

Jose Tudon*; ITAM


The Rise of a Network: Spillover of Political Patronage and Cronyism to the Private Sector (401)

Terry Moon*; University of British Columbia

David Schoenherr; Princeton University


AM33: Monetary Policy and Uncertainty (Chair: Galip Ozhan)

Interest Rate Uncertainty as a Policy Tool? (118)

Galip Ozhan*; Bank of Canada


Distribution of Market Power and Monetary Policy (499)

Yumeng Gu*; University of California, Davis

Sanjay Singh; University of California, Davis


Loan market power and monetary policy passthrough under low interest rates (368)

Mengbo Zhang*; University of California, Los Angeles


Fiscal and Monetary Policy Interactions in a Model with Low Interest Rates (388)

Jianjun Miao; Boston University

Dongling Su*; Boston University


AM34: Monetary Policy and Risk Transmission (Chair: Gaston Chaumont)

Household Savings and Monetary Policy under Individual and Aggregate Stochastic Volatility (518)

Yuriy Gorodnichenko; University of California, Berkeley

Lilia Maliar*; The Graduate Center, The City University of New York

Serguei Maliar; Santa Clara University

Christopher Naubert; The Graduate Center, The City University of New York


Sovereign Debt, Default Risk, and the Liquidity of Government Bonds (277)

Gaston Chaumont*; University of Rochester


Forecasting the U.S. Dollar in the 21st Century (213)

Charles Engel; University of Wisconsin

Steve Pak Yeung Wu*; University of British Columbia


Bank Risk-Taking and Monetary Policy Transmission: Evidence from China (342)

Xiaoming Li; Shanghai Advanced Institute of Finance

Zheng Liu*; Federal Reserve Bank of San Francisco

Yuchao Peng; Central University of Finance and Economics,

Zhiwei Xu; Shanghai Jiaotong University


Labor Economics
AM35: Labor Issue and Housing Market (Chair: Aram Grigoryan)

Trends in Labor Supply of Older Men and the Role of Social Security (537)

Zhixiu Yu*; University of Minnesota


School Choice and Housing Market (101)

Aram Grigoryan*; Duke University


Peer Effects, Parental Migration and Children’s Human Capital: A Spatial Equilibrium Analysis in China (149)

Zibin Huang*; University of Rochester


AM36: Unemployment Benefits (Chair: Jaya Wen)

Til Dowry Do Us Part: Bargaining and Violence in Indian Families (495)

Rossella Calvi*; Rice University

Ajinkya Keskar; Rice University


The Political Economy of State Employment and Instability in China (61)

Jaya Wen*; Harvard Business School


Do Greater Unemployment Benefits Lead to Better Matches? Evidence from Emergency Unemployment Compensation Programs (62)

Sung Ah Bahk*; American University


Is Gender Destiny? Gender Bias and Intergenerational Educational Mobility in India (63)

Hanchen Jiang*; University of North Texas

Forhad Shilpi; World Bank Group


Treatment Effect
AM37: Treatment Effects and Applications (Chair: Sukjin Han)

Preschool and Child Health: Evidence from China’s Subsidized Child Care Program (566)

Meiqing Ren*; University of Illinois at Chicago


Synthetic Control Method and Stationarity: Estimating the Effect of the Inter-Korean Rapprochement on the Housing Price of a Chinese Border City (189)

Jiaxuan Lu*; University of Southern California


Sharp Bounds on Treatment Effects for Policy Evaluation (366)

Sukjin Han*; University of Bristol

Shenshen Yang; University of Texas at Austin


On Local Projection Based Inference (224)

Ke-Li Xu*; Indiana University


International Finance
AM38: Correlation and Investment (Chair: Jonathan Hoddenbagh)

Lobbying, Trade, and Endogenous Misallocation (565)

Jaedo Choi*; University of Michigan


A New Test of Central Bank Independence & Fiscal Dominance (454)

Jonathan Hoddenbagh*; Johns Hopkins University


Intangible Investment during Sovereign Debt Crisis: Firm-level Evidence (324)

Minjie Deng; Simon Fraser University

Chang Liu*; University of Rochester


Correlation made simple: Applications to Salience and Regret Theory (523)

Giacomo Lanzani*; Massachusettes Institute Technology


Machine Learning
AM39: Machine Learning and Applications (Chair: Andrii Babii)

Binary Choice with Asymmetric Loss in a Data-Rich Environment: Theory and an Application to Racial Justice (15)

Andrii Babii*; University of North Carolina at Chapel Hill


Robust Forecasting (42)

Timothy Christensen; New York University

Hyungsik Roger Moon*; University of Southern California

Frank Schorfheide; University of Pennsylvania


Inference using Nuclear-norm Penalized Estimator and Its Applications (261)

Jungjun Choi*; Rutgers University

Hyukjun Kwon; Rutgers University


After COVID 19, Automation (125)

Alejandro Micco*; University of Chile


Insurance Policies
AM40: Unemployment Insurance (Chair: Bulent Guler)

Supply and Demand Effects of Unemployment Insurance Benefit Extensions: Evidence from U.S. Counties (387)

Klaus-Peter Hellwig*; International Monetary Fund


Do Automatic Stabilizers Really Stabilize? Evidence from Unemployment Insurance Policies and Housing Market (349)

Yavuz Arslan; BIS

Ahmet Degerli; Duke University

Bulent Guler*; Indiana University Bloomington

Gazi Kabas; University of Zurich and Swiss Finance Institute

Burhanettin Kuruscu; University of Toronto


Gender Gaps in Time Use and Entrepreneurship (558)

Lin Shao*; Bank of Canada

Pedro Bento; Texas A&M University

Faisal Sohail; University of Melbourne


Growing Apart: Declining Within- and Across-Locality Insurance in Rural China (256)

Orazio Attanasio; Yale University

Costas Meghir; Yale University

Corina Mommaerts; University of Wisconsin-Madison

Yu Zheng*; Queen Mary University of London


Tax Issues
AM41: Analysis of Tax Issues (Chair: Eva Carceles-Poveda)

Tax Compliance, Payment Choice, and Central Bank Digital Currency (120)

Zijian Wang*; University of Western Ontario


Non Linear Dividend Taxation and Shareholder Disagreement (530)

Alexis Anagnostopoulos; Stony Brook University

Eva Carceles-Poveda*; The State University of New York at Stony Brook

Gabriel Mihalache; The State University of New York at Stony Brook


A Model of Anticipated Consumption Tax Changes (310)

Masashi Hino*; The Ohio State University


Game Theory
AM42: Contract and Bargain (Chair: Lester Chan)

Information Obfuscation (177)

Shuo Xu*; The Ohio State University


Weight-Ranked Divide-and-Conquer Contracts (205)

Lester Chan*; Boston University


Robust Predictions in Coasian Bargaining (220)

Heng Liu*; University of Michigan


A Multi-Agent Model of Misspecified Learning with Overconfidence (373)

Cuimin Ba; University of Pennsylvania

Alice Gindin*; University of Pennsylvania


AM43: Nash Game and Contract (Chair: Christopher Sandmann)

The Crisis of Expertise (248)

Allen Vong*; Yale University


Free-Riding Under Joint Liability (272)

Boli Xu*; Northwestern University


Flows and Performance with Optimal Money Management Contracts (385)

Stefano Pegoraro*; University of Notre Dame


Probabilistic Assortative Matching under Nash Bargaining (400)

Nicolas Bonneton; Toulouse School of Economics

Christopher Sandmann*; Princeton University


AM44: Game and Bargain (Chair: Ming Li)

A unified approach to p-dominance and its generalizations in games with strategic complements and substitutes (469)

Anne-Christine Barthel; West Texas A&M University

Eric Hoffmann; West Texas A&M University

Tarun Sabarwal*; University of Kansas


Collective Decision Through an Intermediary (471)

Yunan Li; City University of Hong Kong

Xingtan Zhang*; University of Colorado Boulder


Mandatory disclosure of conflicts of interest: Good news or bad news? (553)

Ming Li*; Concordia University

Ting Liu; Stony Brook University


The Consensus Bargaining Solution (585)

Xiangliang Li*; Yale University


Time Series Analysis
AM45: Time Series Analysis (Chair: Luiggi Donayre)

Advances in Nowcasting Economic Activity (99)

Juan Antolin-Diaz; London Business School

Thomas Drechsel*; University of Maryland

Ivan Petrella; University of Warwick


Estimation of Short-run Predictive Factor for US Growth using State Employment Data (141)

Arabinda Basistha*; West Virginia University


Hamilton versus Hamilton: Spurious Nonlinearities (204)

Luiggi Donayre*; University of Minnesota – Duluth


Inference for High-Dimensional Exchangeable Arrays (370)

Harold Chiang*; University of Wisconsin-Madison

Kengo Kato; Cornell University

Yuya Sasaki; Vanderbilt University


AM46: Forecasting and Testing (Chair: Mikhail Dmitriev)

Optimal Forecast under Structural Breaks (420)

Tae-hwy Lee, University of California, Riverside

Shahnaz Parsaeian*; University of Kansas

Aman Ullah,  University of California, Riverside


A Time-Varying Endogenous Random Coefficient Model with an Application to Production Functions (142)

Ming Li*; Yale University


Spurious VARs and DSGEs: A Dynamic Test for Economic Models (546)

Manoj Atolia; Florida State University

Mikhail Dmitriev*; Florida State University


Interacting Cascades: An Experiment on Inter-Group Information Spillovers (38)

James Fisher*; United Services Automobile Association

John Wooders; New York University Abu Dhabi


Applied Econometrics
AS01: Innovation Issues and Economic Impact (Chair: Ce Matthew Shi)

Can Soft Law Improve the Welfare of Sexual Minorities? The Case of Same-sex Partnership Policy in Japan (75)

Yuri Sugiyama*; Hitotsubashi University


Research Exemption and Pharmaceutical Innovation: Evidence from China (525)

Ce Matthew Shi*; The Chinese University of Hong Kong

Yucong Zhao; Zhejiang University


Innovation, Corporate Governance and Market Concentration: An Analysis of Indian Manufacturing Firms (284)

Sukhdeep Singh*; Institute of Development Studies Kolkata

Indrani Chakraborty; Institute of Development Studies Kolkata


Economic Impact of the Most Drastic Lockdown During COVID-19 Pandemic—the Experience of Hubei, China (243)

Xiao Ke*; Hubei University of Economics

Cheng Hsiao; University of Southern California


AS02: Evaluation of Social Program (Chair: Wei Jin)

Housing and Consumption Volatility (167)

Wonmun Shin*; Sejong University


Effects of a Per-Bag Trash Collection Fee Program: Evidence from a Synthetic Control Method (569)

Po-Chun Huang*; National Chengchi University


Learning Levels of Children from Short-Term Migrant Families: Evidence from Rural India (5)

Leena Bhattacharya*; Indira Gandhi Institute of Development Research


Do We Still Need Carbon-Intensive Capital When Transitioning to a Green Economy? (573)

Wei Jin*; Tianjin University


AS03: Experimental Design and Supply Chain (Chair: Jonathan Newton)

The Incentive Effect of Coarse and Refined Reporting: Theory and Experiment (131)

Yukihiko Funaki; Waseda University

Edward Halim; Nanyang Technological University

Michiko Ogaku*; Nagasaki University

Yohanes Riyanto; Nanyang Technological University


Social Pressures in the one-shot Prisoner’s Dilemma (231)

Yosuke Hashidate*; Waseda University


Geographic diversity in economic publishing (311)

Simon Angus; Monash University

Kadir Atalay; University of Sydney

Jonathan Newton*; Kyoto University

David Ubilava; University of Sydney


Technology Training, Buyer-Supplier Linkage, and Quality Upgrading in an Agricultural Supply Chain (221)

Sangyoon Park; University of Hong Kong

Zhaoneng Yuan*; University of Hong Kong

Hongsong Zhang; University of Hong Kong


AS04: Social Issues (Chair: Melati Nungsari)

Using Drawings to Understand Entrepreneurial Intention Amongst Youth in Malaysia (579)

Melati Nungsari*; Asia School of Business


Infrastructure Investments, Schooling, and Structural Transformation in Development: Evidence from Multi-Generation Tracking Survey in the Philippines (211)

Soyoung Kim; University of Tokyo

Yuki Higuchi; Sophia University

Kei Kajisa; Aoyama Gakuin University

Yasuyuki Sawada*; Asian Development Bank


Reference Dependence and Monetary Incentives: Evidence from Major League Baseball (305)

Reio Tanji*; Osaka University


Disclosure in Epidemics. (123)

Ju Hu*; Peking University

Zhen Zhou; New York University


AS05: Production and Sale Analysis (Chair: Weixuan Zhou)

The Impact of E-Cigarette Policies on Product Switching and Cessation (53)

Shiqi Wang*; Johns Hopkins University


Indirect Sales with Search Cost (47)

Weixuan Zhou*; Hong Kong University of Science and Technology

Feiting Xu; Hong Kong University of Science and Technology


Measuring Inefficiency of Patent Overlaps: The Case of 3D Printer Industry (517)

Kohei Kawaguchi*; Hong Kong University of Science and Technology Makoto Kadowaki


Strategic Hospital Runs (522)

Wanyi Chen; University of Science and Technology of China

Chao He*; East China Normal University


AS06: Resource Allocation Analysis (Chair: Naijia Guo)

Resource Allocation Among Competing Innovators (26)

Yangguang Huang*; Hong Kong University of Science and Technology


Equilibrium Gerrymandering (491)

Isaac Swift*; Hong Kong Baptist University


Altruistic or Exchange Motive? Evidence on the effect of children’s health shocks on intra-household resource allocation (81)

Naijia Guo*; The Chinese University of Hong Kong

Junsen Zhang; Zhejiang University & Chinese University of Hong Kong


Voluntary versus mandatory public annuity plans: A common framework to understand their pros and cons (90)

Sau-Him Lau; University of Hong Kong

Qilin Zhang*; University of Hong Kong


AS07: Taxation Policy and Trade Issues (Chair: Shu Cai)

The life cycle implications of U.S taxation policy on household consumption and portfolio choices (169)

Xiangling Liu*; Tongji University


Can Microcredit Program Crowd out Informal Financial Networks? Evidence from a Randomized Controlled Trial in China (192)

Shu Cai*; Jinan University


The Formation of Global Free Trade Agreement (215)

Akira Okada; Kyoto University

Yasuhiro Shirata*; Otaru University of Commerce


Cooperation, Quality Heterogeneity and Spatial Agglomeration (260)

Tai-Liang Chen*; Zhongnan University of Economics and Law

Fengning Huan; Zhongnan University of Economics and Law


AS08: Information Spillover (Chair: Wen-Chi Liao)

Haste Makes No Waste: Positive Peer Effects of Classroom Speed Competition on Learning (286)

Hikaru Kawarazaki; University College London

Yasuyuki Sawada; Asian Development Bank

Minhaj Mahmud; Bangladesh Institute of Development Studies

Mai Seki*; Ritsumeikan University


Information Spillover and Welfare in Decentralized Markets (320)

Bingchao Huangfu*; Nanjing Audit University

Heng Liu; University of Michigan


Economic Return of Architecture Awards: Testing Homebuyers’ Motives for Paying More (497)

Wen-Chi Liao*; National University of Singapore

Kecen Jing; Nankai University

Chuan Ying Lee; National University of Singapore


Security-bid Auctions with Information Acquisition (504)

Zongbo Huang; The Chinese University of Hong Kong, Shenzhen

Yunan Li*; City University of Hong Kong


AS09: Spatial and Demographical Analysis (Chair: Gouranga G. Das)

Spatial Competition with Online Platforms: Theory and Evidence from the Wealth Manage ment Product Market (555)

Chao Ma*; Xiamen University


Smart Enforcement and Recidivism: Evidence from Traffic Violations in China (568)

Liang Chen*; Wuhan University


Deploying Skills to Earn: Impact of Skills Training and Market Linkage on Rural Women in Pakistan (571)

Ali Cheema; Institute for Development and Economic Alternatives & Lahore University of Management Sciences

Asim Khwaja; Harvard University

Muhammad Farooq Naseer*; Lahore University of Management Sciences

Jacob Shapiro; Princeton University


Effect of Contract Farming in a Small Open Less-developed Economy: A General Equilibrium Analysis (581)

Gouranga G. Das*; Hanyang University


AS10: Social Economics (Chair: Ching-I Huang)

Inclusive Institutions, Capital Formation, and Origins of Rapid Industrialization: Evidence from the Colonial Commercial Bank Networks in Taiwan (157)

Ching-I Huang*; National Taiwan University

Shao-yu Jheng; Department of Economics, National Taiwan University


The paradox of wealthy nations’ unhappy adolescents (246)

Dirk Bethmann*; Korea University

Robert Rudolf; Korea University


The One-Child Policy, Differential Fertility, and Intergenerational Transmission of Inequality in China (247)

Yewen Yu; Peking University

Yi Fan*; National University of Singapore

Junjian Yi; National University of Singapore


Outcomes of English Education at Elementary Schools in Japan (334)

Mayuko Abe*; Osaka University


AS11: Welfare Analysis and Experimental Design (Chair: David Ong)

Panel Quantile Regression with Time-Invariant Rank (69)

Xin Liu*; University of Missouri


Is women’s competitiveness expressed through their husband’s income? (548)

David Ong*; Jinan University


Consumer preference for durability and energy efficiency: Welfare Analysis of Light Bulb Market (233)

Takeshi Fukasawa*; The University of Tokyo


Necessary Condition for Semiparametric Efficiency of Experimental Designs (166)

Hisatoshi Tanaka*; Waseda University


AS12: Network and Pseudo-Panel Method (Chair: Aljoscha Janssen)

Regional and Sectoral Varieties of VAT Pass Through in Japan (431)

Kazuki Hiraga*; Nagoya CIty University


The nexus between social network and loan repayment performance in India: Establishing causal link on a matched sample (434)

Pallabi Chakraborty*; Indian Institute of Technology, Guwahati, Assam


Expected Inflation and Household Expenditure: Evidence from Pseudo-panel data in Japan (154)

Takeshi Niizeki*; Ehime University

Masahiro Hori; Hitotsubashi University


The Role of Search Costs in the Mutual Fund Industry (344)

Aljoscha Janssen*; Singapore Management University


AS13: Uncertainty Analysis (Chair: Chiaki Moriguchi)

Measuring Structural Transformation of the Indian States: 1983–2018 (126)

Kausik Gangopadhyay; Indian Institute of Management Kozhikode

Thasni T*; Indian Institute of Management Kozhikode


Meritocracy and Its Discontents: Long-run Effects of Repeated School Admission Reforms (152)

Mari Tanaka; Hitotsubashi University

Yusuke Narita; Yale University

Chiaki Moriguchi*; Hitotsubashi University


Investment Plans, Uncertainty, and Misallocation (82)

Ben Charoenwong*; National University of Singapore

Yosuke Kimura; Ministry of Finance, Japan

Alan Kwan; Hong Kong University

Eugene Tan; University of Toronto


Global Impacts of US Monetary Policy Uncertainty Shocks (203)

Povilas Lastauskas*; CEFER


Econometric Theory
AS14: High-Dimensional Issues (Chair: Zhentao Shi)

High-dimensional Distributionally Robust Mean-variance Efficient Portfolio Selection (115)

Zhonghui Zhang*; Nanjing Audit University


Identifying Dynamic Discrete Choice Models with Hyperbolic Discounting (182)

Taiga Tsubota*; The University of Tokyo


High Dimensional Forecast Combinations Under Latent Structures (112)

Zhentao Shi*; The Chinese University of Hong Kong

Liangjun Su; Tsinghua University

Tian Xie; Shanghai University of Finance and Economics


Some Asymptotic Properties of the Maximum Smoothed Partial Likelihood Estimator in the Change Plane Cox Model (193)

Shota Takeishi*


AS15: IV Regression (Chair: Xin Geng)

Harmless and Detectable Manipulations of the Running Variable in Regression Discontinuity Designs: Tests and Bounds (206)

Takuya Ishihara; Waseda University

Masayuki Sawada*; Hitotsubashi University


Wild Bootstrap for Instrumental Variables Regression with Weak Instruments and Few Clusters (304)

Wenjie Wang*; Nanyang Technological University

Yichong Zhang; Singapore Management University


Empirical Decomposition of the IV-OLS Gap with Heterogeneous and Nonlinear Effects (51)

Shoya Ishimaru*; Hitotsubashi University


Estimation of a partially linear seemingly unrelated regressions model: Application to a translog cost system (178)

Xin Geng*; Nankai University

Kai Sun; Shanghai University


AS16: Machine Learning and Quantile Regression (Chair: Xun Lu)

Uniform Inference in Linear Panel Data Models with Two-Dimensional Heterogeneity (314)

Xun Lu*; Chinese University of Hong Kong

Liangjun Su; Tsinghua University


Accurate and (Almost) Tuning Parameter Free Inference in Cointegrating Regressions (352)

Karsten Reichold*; University of Klagenfurt

Carsten Jentsch; TU Dortmund University


Regularized Quantile Regression with Interactive Fixed Effects (251)

Junlong Feng*; Hong Kong University of Science and Technology


Dyadic Machine Learning: with an Application to High-Dimensional Dyadic-Robust Analysis of Determinants of Free Trade Agreements (267)

Harold Chiang; University of Wisconsin-Madison

Yukun Ma*; Vanderbilt University

Yuya Sasaki; Vandervilt University


AS17: Panel Data Analysis (Chair: Sungwon Lee)

Unbalanced Spatial Panel Data Models with Fixed Effects (297)

Xiaoyu Meng*; Singapore Management University


Asymptotic Properties of Approximated Maximum Likelihood Estimator in Markov-Switching State-Space Models (308)

Chaojun Li*; East China Normal University


Nonparametric Identification and Estimation of Panel Quantile Models with Sample Selection (234)

Sungwon Lee*; Sogang University


Do Autocratic Political Leaders Always Hamper Economic Growth? Evidence from Australia (31)

Thomas Emery*; University of Western Australia

Rok Spruk; University of Ljubljana

Nuno Garoupa; George Mason University

David Gilchrist, University of Western Australia


Game Theory
AS18: Mechanism and Agent Problem (chair: Yu Zhou)

Serial Vickrey mechanism (195)

Yu Zhou*; Kyoto University

Shigehiro Serizawa; Osaka University


Managing Reputation in a Principal-Agent Problem (91)

Shahin Baghirov*; Koç University

Levent Kockesen; Koc University


Media Bias under Threat and Blessing (543)

Abhinaba Nandy*, Virginia Tech


The impact of negative links: theory and evidence (435)

Xiannong Zhang*; Washington University in St. Louis


Corporate Finance
AS19: Mechanism and Credit (Chair: Priyanka Kothari)

Are Simple Mechanisms Optimal when Agents are Unsophisticated? (155)

Jiangtao Li*; Singapore Management University

Piotr Dworczak; Northwestern University


Fairness is flexible: A study of competing focal points (291)

Subrato Banerjee; University of Melbourne

Priyanka Kothari*; Indian Statistical Institute

Prabal Roy Chowdhury; Indian Statistical Institute


Sectoral Inflation Dynamics under Fragmentation of Information (379)

Tatsushi Okuda*; Bank of Japan

Tomohiro Tsuruga; International Monetary Fund


Bank Credit, Trade Credit, and Firm Performance during the Global Financial Crisis (303)

Ye Jin Heo*; Korea Energy Economics Institute

Donghoon Yoo; Institute of Social and Economic Research, Osaka University


Applied Microeconomic Theory
AS20: Auction and Uncertainty (Chair: Stephanie Chan)

Royalty auctions with seller ex post input (258)

Dazhong Wang; Sun Yat-sen University

Xinyi Xu*; Sun Yat-Sen University

Xianjie Zeng; Sun Yat-Sen University


Correlation-Robust Auction Design (509)

Wei He*; The Chinese University of Hong Kong

Jiangtao Li; Singapore Management University


The social value of public information when not everyone is privately informed (600)

Stephanie Chan*; Xiamen University


Search and Knightian Uncertainty: Beyond Uncertainty-Aversion (493)

Daiki Kishishita*; Tokyo University of Science


AS21: Matching and Uncertainty (Chair: Jingyi Xue)

Torn between want and should: Self-control and behavioral choices (390)

Abhinash Borah; Ashoka University

Raghvi Garg*; Ashoka University


Uncertainty-Driven Moral Behavior (520)

Yiting Chen*; National University of Singapore

Songfa Zhong; National University of Singapore


Matching with interdependent choices (226)

Taro Kumano; Yokohama National University

Kyohei Marutani*; The University of Tokyo


Local dominance (580)

Emiliano Catonini; Higher School of Economics

Jingyi Xue*; Singapore Management University


AS22: Equillibrium and Game (Chair: Yuval Heller)

Naive Analytics Equilibrium (199)

Ron Berman; Wharton Business School

Yuval Heller*; Bar-Ilan University


International Environmental Agreement as an Equilibrium Choice in a Differential Game (439)

Ken-Ichi Akao*; Waseda University


EPIC Fail: how below-bid pricing backfires in multiunit auctions (552)

Daniel Marszalec*; University of Tokyo

Alexander Teytelboym; University of Oxford

Sanna Laksá; P/F Varðin


Endogenous Productivity Enhancing Signaling: The Joint Signaling Game (227)

Yanan Wu*; Australian National University


AS23: Dynamic and Economic Development (Chair: Wooyoung Lim)

Hurwickz meets Veatch: Principles for deceased-donor organ allocation in the presence of asymmetric information (395)

Edwin Muñoz-Rodriguez*; Kellogg School of Management, Northwestern University


A New Folk Theorem in OLG Games (2)

Chihiro Morooka*; The University of Tokyo


Platform Dynamics and Economic Development (21)

Danxia Xie; Tsinghua University

Buyuan Yang*; Tsinghua University


Tie-breaking and Efficiency in the Laboratory School Choice (36)

Wonki Cho; Korea University

Isa Hafalir; University of Technology Sydney

Wooyoung Lim*; The Hong Kong University of Science and Technology


Financial Market
AS24: Shadow and Digital Banking (Chair: Xin Zheng)

Shadow Bank Funding and the Financial Crisis (242)

Chenxi Wang*; Renmin University of China


Financial Wealth, Investment and Confidence in a DSGE Model for China (10)

Tao Jin; Tsinghua University

Simon Kwok; The University of Sydney

Xin Zheng*; Tsinghua University


Branch Expansion versus Digital Banking: The Dynamics of Growth and Inequality in a Spatial Equilibrium Model (96)

Yan Ji*; Hong Kong University of Science and Technology

Songyuan Teng; Yale University

Robert Townsend; Massachusetts Institute of Technology


Inefficient Credit Cycles (218)

Zehao Li*; The Chinese University of Hong Kong, Shenzhen

Sichuang Xu; The Chinese University of Hong Kong, Shenzhen


AS25: Firm and Market (Chair: Jiahong Gao)

Concentration, Increasing Returns to Scale, and Financial Fragility (94)

Jiahong Gao*; Zhongnan University of Economics and Law

Robert Reed; University of Alabama


Entry Deregulation and Firm Creation: Evidence from China (516)

Hua Cheng*; Nankai University

Yongzheng Liu; Renmin University of China


Decision Making under Time Pressure (239)

Mengke Wang*; University of Sydney


Superstar Firms and Frictional Labor Market (249)

Ji-Woong Moon*; Shanghai University of Finance and Economics


AS26: Financial Cost and Household Finance (Chair: Shuoxun Zhang)

Can Housing Boom Elevate Financing Costs of Financial Institutions? (556)

Shuoxun Zhang*; Xiamen University


Customer Capital and Aggregate Welfare (228)

Jianhuan Xu*; Singapore Management University


Household Balance Sheets and Unconventional Monetary Policy Transmission (162)

Nuobu Renzhi*; Asian Development Bank


Sliding Modes in Renewable Resources Dynamic Problems (171)

Anton Bondarev*; Xi’an Jiaotong-Liverpool University

Thorsten Upmann; Alfred-Wegener-Institut Helmholtz-Zentru


AS27: Credit and Portfolio (Chair: Qian Qi)

Fear Propagation and Return Dynamics (317)

Yulong Sun; International Institute of Finance (IIF), University of Science and Technology of China

Kai Wang*; Central University of Finance and Economics (CUFE)


Who Anchors on Credit Spreads (554)

Yang Wang*; Hong Kong Polytechnic University


A trading strategy using double exponential jump-diffusion model: empirical evidence from Malaysia (538)

Satrajit Mandal*; Indian Institute of Technology Kharagpur


Dynamic Patent Portfolio Management (486)

Qian Qi*; Peking University


AS28: Risk and Return Predictability (Chair: Yun Dai)

China Markets and Global Stock Return Predictability (55)

Yulong Sun*; International Institute of Finance (IIF), University of Science and Technology of China


Earnings Management in IPOs: Moral Hazard or Signaling? (65)

Yun Dai*; Sun Yat-Sen University

Jiahua Zhu;  School of Social Science, Nanyang Technological University

Te Bao; Nanyang Technological University


Tail Risk and Expectations (253)

Yeow Hwee Chua*; National University of Singapore

Zu Yao Hong; University of Maryland, College Park


Dynamic Transparency and Rollover Risk (278)

Xu Wei; Central University of Finance and Economics

Zhen Zhou*; Tsinghua University


Macroeconomic Dynamics
AS29: Structural Model and Dynamics (Chair: Hung-Ju Chen)

Skill Choice and Dynamic Efficiency (151)

Hung-Ju Chen*; National Taiwan University


Growing through Competition: The Reduction of Entry Barriers among Chinese Manufacturing Firms (135)

Helu Jiang*; Shanghai University of Finance and Economics

Yu Zheng; Queen Mary University of London

Lijun Zhu; Peking University


SOEs Reform and Capital Efficiency in China: A Structural Analysis (484)

Sarah Tang*; Suffolk University


Search, Infection, and Government Policy (539)

Kee-Youn Kang; Yonsei university

Xi Wang*; Peking University


AS30: Competition Dynamics (Chair: Travis Ng)

Multi-Product Firms and Misallocation (545)

Wenya Wang; School of Finance, Shanghai University of Finance and Economics

Ei Yang*; Shanghai University of Finance and Economics


Direct Distribution, Multilateral Contracting, and Complete Foreclosure (28)

Cong Pan*; Kyoto Sangyo University


Resale Price Maintenance on Gasoline (180)

Gabrielle Lee; London School of Economics

Wenzheng Mao; Tongji University

Travis Ng*; The Chinese University of Hong Kong


Platform Competition and Price Discrimination (361)

Neaketa Chawla*; Indian Institute of Technology


AS31: Empirical Macroeconomics (Chair: Tetsugen Haruyama)

Wealth Inequality, Aggregate Consumption, and Macroeconomic Trends Under Incomplete Markets (321)

Byoungchan Lee*; Hong Kong University of Science and Technology


Structural Gravity and the Gains from Trade under Imperfect Competition (496)

Benedikt Heid*; University of Adelaide

Frank Stähler; University of Tübingen


International Kuznets Curve: A Schumpeterian Model of the World Economy (536)

Tetsugen Haruyama*; Kobe University


Increasing Returns, Monopolistic competition, and Optimal Unemployment (567)

Pavel Molchanov*; Aix-Marseille University


AS32: Abnormality in Empirical Macroeconomic Analysis (Chair : Mohammed Ait Lahcen)

Nonlinear Unemployment Effects of the Inflation Tax (264)

Mohammed Ait Lahcen*; Qatar University and University of Basel

Garth Baughman; Federal Reserve Board

Stanislav Rabinovich; University of North Carolina – Chapel Hill

Hugo van Buggenum; Tilburg University


Tax enforcement, revenue and informality (540)

Prakriti Joshi*; IIT Delhi


Asymmetric Information, Credit Allocation and the Optimal Regulation of Name Market (333)

Yibo Sun*; The University of Hong Kong

Bo Wang; Zhejiang Gongshang University


Comparative Ambiguity Aversion for Smooth Utility Functions (285)

Chiaki Hara*; Kyoto University


AS33: Macroeconomic Dynamics and Tax (Chair: Yiyuan Zhou)

Voting over Selfishly Optimal Income Tax Schedules with Tax-Driven Migrations (549)

Darong Dai*; Shanghai University of Finance and Economics

Guoqiang Tian; Texas A & M University


Attention Discrimination in Retail Lending (122)

Bo Huang; School of Finance, Renmin University

Jiacui Li; University of Utah

Tse-Chun Lin; University of Hong Kong HKU Business School

Mingzhu Tai; The University of Hong Kong

Yiyuan Zhou*; The University of Hong Kong


Multi-Product Plants, Product Switching and Macroeconomic Dynamics (179)

Masashige Hamano*; Waseda University


Stamping Out Stamp Duty: Property or Consumption Taxes? (326)

Yunho Cho*; Jinan University

Shuyun Li; University of Melbourne

Lawrence Uren; University of Melbourne


Monetary Policy
AS34: Analyzing Monetary Policy (Chair: Shiv Dixit)

Bank Coordination and Monetary Transmission: Evidence from India (563)

Shiv Dixit*; Indian School of Business


Analysing monetary policy statements of the Reserve Bank of India (159)

Aakriti Mathur; The Graduate Institute of International and Development Studies

Rajeswari Sengupta*; IGIDR, India


Monetary Policy under Data Uncertainty: Interest-Rate Smoothing from a Cross-Country Perspective (529)

Saiah Lee*; Ulsan National Institute of Science and Technology


The Redistributive Effects of Monetary Policy in an Overlapping Generation Model (300)

Seungjun Baek*; Sejong University


Treatment Effect
AS35: Heterogeneity and Endogeneity in Treatment Effects (Chair: Galina Besstremyannaya)

Does Education Reduce Fertility in a Low Income Country? Evidence based on Fuzzy Regression Discontinuity Design in Tanzania (474)

Hisahiro Naito*; University of Tsukuba


How effective is community quarantine in the Philippines? A quasi-experimental analysis (160)

Marjorie Pajaron*; University of the Philippines


Identification of multi-valued treatment effects with unobserved heterogeneity (170)

Koki Fusejima*; The University of Tokyo


Heterogeneous effect of Japanese hospital financing reform: a quantile regression approach with endogeneity (147)

Galina Besstremyannaya*; National Research University Higher School of Economics, Russian Federation


International Finance
AS36: Trade and Economic Integration (Chair: Luping Yu)

The Effect of the China Connect (13)

Chang Ma; Fanhai International School of Finance, Fudan University

John Rogers; Federal Reserve Board

Sili Zhou*; Fudan University


Gains from trade or from catching-up? Value creation and distribution in the era of China’s WTO accession (483)

Xiaodan Yu*; University of Nottingham Ningbo China


Global Share Repurchases Over the Business Cycle (381)

Zigan Wang; The University of Hong Kong

Qie Ellie Yin; Hong Kong Baptist University

Luping Yu*; University of Hong Kong


Economic Integration and Agglomeration of Multinational Production with Transfer Pricing (309)

Hayato Kato*; Osaka University

Hirofumi Okoshi; University of Munich


AS37: Trade and Finance (Chair: Chang Ma)

Germs, Roads and Trade: Theory and Evidence on the Value of Diversification in Global Sourcing (592)

Hanwei Huang*; City University of Hong Kong, CEP


International Equity and Debt Flows to Emerging Market Economies: Composition, Crises, and Controls (12)

Chang Ma*; Fanhai International School of Finance, Fudan University


Fragmentation and Gains from Trade (132)

Edwin Lai*; Hong Kong University of Science and Tech

Han (Steffan) Qi; Hong Kong Baptist University


Market Uncertainty and International Trade (111)

Haichao Fan; Fudan University

Guangyu Nie*; Shanghai University of Finance and Economics

Zhiwei Xu; Shanghai Jiao Tong University


Labor Economics
AS38: Education Economics (Chair: Kazuhiro Yuki)

The Persistence of Unemployment and the Role of Unemployment Insurance History (209)

Similan Rujiwattanapong*; Waseda University


Persistent legacy of the 1075-1919 Vietnamese imperial examinations in contemporary quantity and quality of education (59)

Tien Vu*; Miyazaki International College

Hiroyuki Yamada; Keio University


Language education and economic outcomes in a bilingual society (250)

Kazuhiro Yuki*; Kyoto University


Who Benefits from Private Schools in India? (29)

Tanmoy Majilla*; Indian Institute of Management Ahmedabad


AS39: Working Environment and Labor Supply (Chair: Natsuki Arai)

Workplace Environment and Worker Sorting: Evidence from Advertised Corporate Culture (183)

Jungho Lee*; Singapore Management University


Does Working with a Future Executive Make Junior Employees More Likely to Be Promoted? (501)

Natsuki Arai*; National Chengchi University

Nobuhiko Nakazawa; Hitotsubashi University


Board Gender Diversity and Firm’s Environmental Risks (237)

William Mingyan Cheung*; Waseda University


Skill Loss during Unemployment and the Scarring Effects of the COVID-19 Pandemic (121)

Paul Jackson*; National University of Singapore

Victor Ortego-Marti; University of California Riverside


AS40: Labor Migration and Labor Market (Chair: Jipeng Zhang)

Effects of Childcare Availability on Fertility and Maternal Labor Supply (216)

Ryo Sakamoto*; Osaka university


Gender Divergence in Premarket Skill Acquisition and Wage Inequality (323)

Sunha Myong*; Singapore Management University


Mobility Barrier and Labor Migration in China (448)

Jipeng Zhang*; Southwestern University of Finance and Economics


The Ins and Outs of Employment: Labor Market Adjustments to Carbon Taxes (73)

Chi Man Yip*; The Hong Kong Polytechnic University


AS41: Gender Issue in Labor Market (Chair: Songtao Yang)

The Effects of Education on Parenting Styles: Quasi-Experimental Evidence from Compulsory Schooling Reforms (102)

Songtao Yang*; South China University of Technology


Racial Gaps in the Early Careers of Two Cohorts of American Men (230)

Sai Luo*; Shanghai University of Finance and Economics


Female Labor Supply and Jobless Recovery (348)

Pubali Chakraborty*; Ashoka University


Identifying Knowledge Spillovers from Universities: Quasi-experimental Evidence from Urban China (41)

Jing Li; Singapore Management University

Shimeng Liu; Jinan University

Yifan Wu*; Singapore Management University


Applied Econometrics
AZ01: Spillover Effects in Social Economics (Chair: Ou Yang)

Spillover effects of culturally and linguistically diverse (CALD) students at primary schools (165)

Thao Nguyen*; The University of Melbourne


Do cost reminders lead to healthier decisions? Experimental evidence on the use of nudges to reduce tobacco intake in rural Bangladesh (191)

Adnan Fakir*; University of Western Australia


Self-control and Vulnerability to Food Insecurity: Exploring Impacts and Pathways (452)

Stefan Meyer; Monash University

Paulo Santos*; Monash University


Socioeconomic status, access to invasive coronary angiography, and mortality of acute myocardial infarction patients (133)

Vijaya Sundararajan; La Trobe University

Ou Yang*; The University of Melbourne

Jongsay Yong; University of Melbourne


AZ02: COVID-19 and Related Issues (Chair: Jiaqi Li)

The Role of Labor Unions in Response to Pandemics: The case of COVID-19 (436)

Peyman Firouzi Naeim*; University of New South Wales

Golnoush Rahimzadeh; Georgia State University


Better out than in? Regional disparity and heterogeneous income effects of the euro (593)

Sang-Wook (Stanley) Cho*; University of New South Wales

Sally Wong; Reserve Bank of Australia


Predicting the Demand for Central Bank Digital Currency (477)

Jiaqi Li*; Bank of Canada


Bitcoin and Gold as Hedging Instruments under COVID-19 Pandemic (595)

Rubaiyat Bhuiyan*; Curtin University Malaysia

Afzol Husain; Curtin University Malaysia

Changyong Zhang; Curtin University Malaysia


AZ03: Health and Labor Economics (Chair: Aaron Barkley)

Realized Drift (601)

Sebastien Laurent; Aix-Marseille University

Roberto Reno; University of Verona

Shuping Shi*; Macquarie University


A stochastic dominance test under survey nonresponse with an application to comparing trust levels in Lebanese public institutions (190)

Ali Fakih; Lebanese American University

Paul Makdissi; University of Ottawa

Walid Marrouch; Lebanese American University

Rami Tabri*; The University of Sydney

Myra Yazbeck; University of Ottawa


The Human Cost of Collusion: Health Effects of a Mexican Insulin Cartel (307)

Aaron Barkley*; University of Melbourne


The Impact of Child Work on Cognitive Development: Results from Four Low to Middle Income Countries (107)

Michael Keane*; University of New South Wales

Sonya Krutikova; Institute for Fiscal Studies

Timothy Neal; University of New South Wales


Macroeconomic Dynamics
AZ04: Macroeconomics in Asia (Chair: Reshad Ahsan)

Are bank bailouts welfare improving? (424)

Malik Shukayev*; University of Alberta

Alexander Ueberfeldt; Bank of Canada


Long-Term Economic Consequences of Factious Tensions: Evidence from Lebanon (7)

Thomas Emery; University of Western Australia

Rok Spruk*; University of Ljubljana


The Resilience of Global Value Chains During the Pandemic: Evidence from Bangladesh (86)

Reshad Ahsan*; University of Melbourne


Job Application Portfolios and University Selectivity: Evidence and A Theory (457)

Ruitian Lang; The Australian National University

Kailing Shen*; Australian National University


Financial Market
AZ05: Asset Pricing and Consumption (Chair: Sander Heinsalu)

Extrapolative Asset Pricing (45)

Kai Li*; Macquarie University
Jun Liu; University of California, San Diego


Infection arbitrage (263)

Sander Heinsalu*; Australian National University


Modeling and Backtesting Systemic Risk Measures: the Case of CoES (575)

Zaichao Du*; Fudan University

Liheng Lei; University of Illinois at Urbana-Champaign


The Consumption Response to Universal Payments under the COVID-19 Pandemic: Case of South Korea (292)

Seungjun Baek; Sejong University

Seongeun Kim*; Sejong University

Tae-hwan Rhee; Sejong University

Wonmun Shin; Sejong University


Financial Market
EU01: Asset Pricing and Market Value Analysis (Chair: Simon Finster)

Private Assets and Self-Fulfilling Prophecies (266)

Hugo van Buggenum*; Tilburg University


The Market Value of Public Interventions in the Corporate Sector: Evidence from Covid19 (572)

Francois Koulischer*; University of Luxembourg

Diane Pierret; University of Luxembourg

Roberto Steri; University of Luxembourg


Selling Multiple Complements with Packaging Costs (143)

Simon Finster*; University of Oxford


Weak (Proxy) Factors Robust Hansen-Jagannathan Distance For Linear Asset Pricing Models (164)

Lingwei Kong*; University of Groningen


EU02: Crytocurrency and Asset Pricing (Chair: Goutham Gopalakrishna)

The Cross-Section of Cryptocurrency Returns (240)

Nicola Borri; LUISS University

Kirill Shakhnov*; University of Surrey


Measures of Model Risk in Continuous-time Finance Models (294)

Emese Lazar; University of Reading

Shuyuan Qi*; ICMA Centre

Radu Tunaru; University of Sussex


A Macro-Finance model with Realistic Crisis Dynamics (339)

Goutham Gopalakrishna*; Ecole Polytechnique Federal de Lausanne (Swiss Finance Institute)

Generalized Transform Analysis for Asset Pricing and Parameter Estimation (353)

Yannick Dillschneider*; Goethe University Frankfurt


EU03: Asset Pricing and Investment (Chair: Andreas Brøgger)

Corporate Asset Pricing (441)

Andreas Brøgger*; Copenhagen Business School


Firm Heterogeneity in Production-Based Asset Pricing: The Role of Habit Sensitivity and Lumpy Investment (9)

Zhiting Wu*; University of St Andrews


Overconfidence and Correlated Information Structures (100)

Junghum Park*; University of Essex


Stimulating Investment or Creating Asset Bubbles: Lessons from Bank of Japan’s Corporate ETFs Purchases (136)

Lior Cohen*; University of Barcelona


EU04: Modeling Risk and Financial Innovation (Chair: Rodrigo Hizmeri)

Level-k Reasoning with Heterogeneous Information Signals (422)

Xiangguo Zhang*; University of Birmingham


Financial Innovation, Macro-prudential Policies and Leverage Cycles (485)

Lingsi Wei*; University of Bath


Competing with Security Design (217)

Yue Yuan*; London School of Economics


Bolstering the Modelling and Forecasting of Realized Covariance Matrices using (Directional) Common Jumps (24)

Rodrigo Hizmeri*; Lancaster University

Marwan Izzeldin; Lancaster University

Ingmar Nolte; Lancaster University


Decision Theory
EU05: Information and Mechanism (Chair: Caroline Liqui Lung)

Acquisition, (Mis)use and Dissemination of Information: The Blessing of Cursedness and Transparency (404)

Franz Peter Ostrizek*; briq

Elia Sartori; Università degli Studi di Napoli Federico II


Pick-an-object Mechanisms (148)

Inácio Bó*; China Center for Behavioral Economics and Finance – SWUFE

Rustamdjan Hakimov; University of Lausanne


On the Origin and Persistence of Identity-Driven Choice Behavior (188)

Caroline Liqui Lung*; Paris School of Economics


Loss Aversion, Moral Hazard, and Stochastic Contracts (594)

Hoa Ho*; Ludwig Maximilian University of Munich


Applied Econometrics
EU06: Treatment Effects (Chair: Christoph Heinzel)

Face mask use and physical distancing before and after mandatory masking: Evidence from public waiting lines (104)

Jana Friedrichsen; Humboldt-Universität zu Berlin

Gyula Seres*; Humboldt University of Berlin


Learning in a Small/Big World (4)

Benson Tsz Kin Leung*; University of Cambridge


Robustness of Inferences in Risk and Time Experiments to Lifecycle Asset Integration (430)

AJ Bostian; University of Tampere

Christoph Heinzel*; INRAE


Evidence Aggregation for Treatment Choice (153)

Takuya Ishihara*; Tohoku University

Toru Kitagawa; University College London


EU07: Education Economics and Financial Risk (Chair: Kevin Pallara)

Effects of educational subsidies and pay-as-you-go pensions on long-run growth under an endogenous growth model (281)

Koichi Miyazaki*; Hiroshima University


A Simple Model Correction for Modelling and Forecasting (Un)Reliable Realized Volatility (103)

Rodrigo Hizmeri; Lancaster University

Marwan Izzeldin*; Lancaster University

Mike Tsionas; Lancaster University Management School


School Grants and Educational Outcomes: The Impacts of the Non-Salary Budget Reform in Punjab Pakistan (399)

Kafeel Sarwar*; Heidelberg University

Min Xie; Heidelberg University


Fiscal space and the size of the Fiscal Multiplier (338)

Kevin Pallara*; University of Lausanne

Luca Metelli; Bank of Italy


EU08: Experimental Effects (Chair: Jonathan Benchimol)

Do Expert Experience and Characteristics Affect Inflation Forecasts? (412)

Jonathan Benchimol*; Bank of Israel

Makram El-Shagi; Henan University

Yossi Saadon; Bank of Israel


Constant Pass-Through (421)

Kiminori Matsuyama; Northwestern University

Philip Ushchev*; HSE University


Who Should Get Vaccinated? Individualized Allocation of Vaccines Over SIR Network (124)

Toru Kitagawa; University College London

Guanyi Wang*; University College London


Fixed Effects Binary Choice Models with Three or More Periods (185)

Xavier D’Haultfoeuille; Centre de Recherche en Economie et Stati

Laurent Davezies; CREST and ENSAE Paris and Institut Polyt

Martin Mugnier*; Center For Research in Economics and Statistics (CREST)


EU09: Trade and Rational Expectation (Chair: Stefan Hubner)

Equilibrium existence in Krugman’s trade model: necessary and sufficient conditions (269)

Sergey Kokovin*; National Research University Higher School of Economics

Fyodor Slepov

Alexander Konovalov; Higher School of Economics


Identification of Unobserved Distribution Factors and Preferences in the Collective Household Model (343)

Stefan Hubner*; University of Bristol


Rationalizing Rational Expectations: Deviations (429)

Xavier D’Haultfoeuille; CREST

Christophe Gaillac*; TSE and CREST

Arnaud Maurel; Department of Economics


Effects of Choice of Early Childhood Education and Care on Cognitive and Non-Cognitive Ability in Japan (296)

Hideo Akabayashi; Keio University

Tim Ruberg*; University of Hohenheim

Chizuru Shikishima; Teikyo University

Jun Yamashita; Japan Women’s University


EU10: Economic Impact of Events (Chair: Yue Huang)

Home Sweet Home: Working from home and employee performance during the COVID-19 pandemic in the UK (335)

Sumit Deole; TU Dortmund University

Max Deter; Bergische Universität Wuppertal

Yue Huang*; IAAEU, Trier University


The impact of public export credit supports on firm performance: Evidence from Korea (365)

Haeyeon Yoon*; University of Bristol

Jung Hur; Sogang University


The Impact of Services Liberalization on Education: Evidence from India (468)

Enrico Nano*; IHEID

Gaurav Nayyar; World Bank

Stela Rubínová; World Trade Organization

Victor Stolzenburg; World Trade Organization


Ability-discounted refugees’ wait-and-see job-seeking strategy: Copula-based evidence of negative selection (287)

Seonho Shin*; Korea Labor Institute & University of Frankfurt


EU11: Economy in Developing Countries (Chair: Heinrich Nax)

Automation and Manufacturing Performance in a Developing Country (137)

Giorgio Presidente*; Oxford Martin School, Oxford University

Massimiliano Calì; World Bank


Impact of Pollution from Coal on the Anemic Status of Children and Women: Evidence from India (1)

Pushkar Maitra*; Monash University

Nidhiya Menon; Brandeis University


House Prices, Collateral Effects and Sectoral Output Dynamics in Emerging Market Economies (77)

Berrak Bahadir; Florida International University

Inci Gumus*; Sabanci University


Deep and shallow thinking in the long run (315)

Heinrich Nax*; University of Zurich

Jonathan Newton; Kyoto University


Econometric Theory
EU12: Treatment Effects and Robustness (Chair: Shosei Sakaguchi)

Robust Estimation of Integrated Volatility (72)

Merrick Li*; University of Cambridge

Oliver Linton; University of Cambridge


The speed of adjustment to target capital structure in US firms (181)

Yan-Ting Chen*; The University of York


Constrained Classification and Policy Learning (127)

Toru Kitagawa; University College London

Shosei Sakaguchi*; University College London

Aleksey Tetenov; University of Geneva


Cross-Fitting and Averaging for Machine Learning Estimation of Heterogeneous Treatment Effects (48)

Daniel Jacob*; Humboldt-Universität zu Berlin


EU13: Inference and Estimation (Chair: Andreas Joseph)

Gaussian Transforms Modeling and the Estimation of Distributional Regression Functions (74)

Richard Spady; Johns Hopkins University

Sami Stouli*; University of Bristol


Loss Function-based Change Point Detection in Risk Measures (105)

Emese Lazar; University of Reading

Shixuan Wang; University of Reading

Xiaohan Xue*; University of Reading


Parametric inference with universal function approximators (410)

Andreas Joseph*; Bank of England


A Powerful Subvector Anderson Rubin Test in Linear Instrumental Variables Regression with Conditional Heteroskedasticity (419)

Patrik Guggenberger; Pennsylvania State University

Frank Kleibergen; University of Amsterdam

Sophocles Mavroeidis*; Oxford University


EU14: Test and EIV Issues (Chair: Julien Monardo)

Johansen test with Fourier-type smooth non-linear trends in cointegrating relations (283)

Takamitsu Kurita; Fukuoka University

Mototsugu Shintani*; University of Tokyo


Measuring Substitution Patterns with a Flexible Demand Model (312)

Julien Monardo*; Telecom Paris


Score-Driven Asset Pricing: Predicting Time-Varying Risk Premia based on Cross-Sectional Model Performance (403)

Dennis Umlandt*; University of Trier


Errors-In-Variables in Large Nonlinear Panel and Network Models (444)

Kirill Evdokimov*; Universitat Pompeu Fabra

Andrei Zeleneev; University College London


Macroeconomic Dynamics
EU15: Modeling Economic Function (Chair: Paola Di Casola)

Modeling and forecasting serially dependent yield curves (331)

Hao Li*; University of Amsterdam


Global Disinflation: Cyclical or Downward Trend? (480)

Andreas Freitag*; University of Basel

Weicheng Lian; International Monetary Fund

Xiaohui Sun; International Monetary Fund


Covid-19 Supply Chain Disruptions (463)

Matthias Meier*; University of Mannheim

Eugenio Pinto; Federal Reserve Board


Technology news, creative destruction and economic fluctuations (490)

Paola Di Casola*; Sveriges Riksbank

Spyridon Sichlimiris; Sveriges Riksbank


EU16: Macroeconomic Dynamics and Implications (Chair: Robert Kollmann)

The Macroeconomics of Rising Returns to Scale: Customer Acquisition, Markups, and Dynamism (375)

Andrea Chiavari*; Pompeu Fabra University


Liquidity Traps in a World Economy (252)

Robert Kollmann*; Universite Libre de Bruxelles & CEPR


The Mutable Geography of Firms’ International Trade: Evidence and Macroeconomic Implications (374)

Lu Han*; University of Liverpool


Bubble-Driven Business Cycles (354)

Benjamin Larin*; University of St.Gallen

EU17: Macroeconomic Network (Chair: Federico Mandelman)

Diffusion on a Sorted Network (391)

Robert Shimer; University of Chicago

Liangjie Wu*; Einaudi Institute for Economics and Finance


Endogenous Production Networks and Learning-by-Networking (87)

Nuriye Melisa Bilgin*; Koc University


The “Matthew Effect” and Market Concentration: Search Complementarities and Monopsony Power (93)

Jesus Fernandez-Villaverde; University of Pennsylvania

Federico Mandelman*; Federal Reserve Bank of Atlanta

Yang Yu; Shanghai University of Finance and Economics

Francesco Zanetti; University of Oxford


The Evolution of Ineptitude (98)

Alvaro Sandroni*; Northwestern University


Labor Economics
EU18: Education and Labor Issue (Chair: Anushka Chawla)

Parental involvement in spouse choice and marriage outcomes: Evidence from India (60)

Anushka Chawla*; Aix-Marseille University


Emperors without Scepters: Early Colonial Leaders’ Personality and Civil Conflicts (473)

Quoc-Anh Do*; Northwestern University & Sciences Po

Sacha Dray; The London School of Economics

Elise Huillery; University Paris-Dauphine

Jean-Louis Keene; EBRD


Paying (and paving) my way: the impacts of extra class participation on primary school pupils in Vietnam (23)

Quynh Huynh*; University of Padova


Television and Gender Stereotypes (68)

Sven Hartmann*; IAAEU – Trier University


EU19: Health and Human Capital (Chair: Thierry Kamionka)

Firm-specific Human Capital Accumulation: Evidence from Brazil (85)

Tiago Pires; Deceased

Arkadiusz Szydlowski; University of Leicester

Shuai Zhao*; University of Leicester


The Dynamics of Health, Employment and Working Hours (313)

Thierry Kamionka*; CREST and CNRS

Pauline Leveneur; ENSAE


Rethinking the Welfare State (322)

Nezih Guner; CEMFI

Remzi Kaygusuz*; Sabanci University

Gustavo Ventura; Arizona State University


Rally Post-Terror (299)

Shuai Chen*; Luxembourg Institute of Socio-Economic Research (LISER)


Corporate Finance
EU20: Behavior Finance (Chair: Nataliya Gerasimova)

Crime and Punishment? The Curious Case of Russian Banks Anticipating and Coping with Global Financial Sanctions (494)

Mikhail Mamonov*; CERGE-EI

Steven Ongena; University of Zurich

Anna Pestova; CERGE-EI, MGIMO


The Effect of Female Leadership on Contracting from Capitol Hill to Main Street (106)

Nataliya Gerasimova*; Norwegian School of Economics

Maximilian Rohrer; Norwegian School of Economics


Do financially constrained firms engage in opportunistic and risky behavior? Evidence from the oil and gas production sector (139)

Mariia Kosar; CERGE-EI

Sergei Seleznev; INECO CAPITAL LTD

Veronika Selezneva*; CERGE-EI


Effects of Information Quality on Signaling through Sovereign Debt Issuance (168)

Hyungseok Joo*; University of Surrey

Yoon-Jin Lee; Kansas State University

Young-Ro Yoon; Wayne State University


Tax Issues
EU21: Tax Reform (Chair: Pavel Brendler)

Capital Tax Reforms With Policy Uncertainty (414)

Pavel Brendler*; University of Bonn

Eva Carceles-Poveda; The State University of New York at Stony Brook


Optimal Taxation of Automation (279)

Ozlem Kina*; European University Institute


The Impact of Deposit Insurance on Bank Risk and Competition: Bank level analysis (461)

Apinyapon Seingyai*; Insper Institute of Education and Research

Marco Bonomo; Insper

Klenio Barbosa; SKEMA Business School


Debt Covenants, Investment, and Monetary Policy (262)

Ozgen Ozturk*; European University Institute


Applied Microeconomic Theory
EU22: Experimental Mechanism and Applications (Chair: Raul Bajo-Buenestado)

Craving for Money? Empirical Evidence from the Laboratory and the Field (43)

Elise Payzan-LeNestour*; University of New South Wales

James Doran; University of New South Wales


Market for Information and Selling Mechanisms (89)

David Bounie; Telecom Paris

Antoine Dubus*; ECARES, Université Libre de Bruxelles

Patrick Waelbroeck; Telecom ParisTech


Are There "Ratatouille" Restaurants? On Anticorrelation of Food Quality and Hygiene (140)

Hisayuki Yoshimoto*; University of Glasgow

Andy Zapechelnyuk; University of St Andrews


Market competition and the adoption of clean technology: evidence from the taxi industry (201)

Raul Bajo-Buenestado*; University of Navarra


EU23: Information Sources and Applications (Chair: Patrick Moran)

The “double trap” in China – Multiple equilibria in institutions and income and their causal relationship (302)

Linda Glawe*; University of Hagen

Helmut Wagner; FernUniversität in Hagen


Incentives, Penalties, and Rural Air Pollution: Evidence from Satellite Data (341)

Yongwei Nian*; Bocconi University


Elections under Selective Media Exposure (359)

Junze Sun*; European University Institute


Flexibility vs. Commitment: The Effect of Home Equity Withdrawal on Consumption, Saving and Welfare (363)

Agnes Kovacs; University of Manchester

Patrick Moran*; University of Copenhagen & IFS


EU24: Political Policy and Economy (Chair: Apurav Yash Bhatiya)

Crime dynamics in and out of lockdowns (389)

Ruben Poblete-Cazenave*; Erasmus School of Economics


Price Competition under Search with Inaccurate Recommendations (408)

Peerawat Samranchit*; Tilburg University


Do Enfranchised Immigrants Affect Political Behaviour? (396)

Apurav Yash Bhatiya*; University of Warwick


Mechanism Design with Narratives (574)

Matthias Lang*; Ludwig Maximilian University of Munich


International Finance
EU25: Trade and Currency (Chair: Martyna Marczak)

Emerging Influence of the RMB on Currency Markets in a Transpiring Tri-Polar International Monetary System (271)

Peijie Wang*; University of Plymouth and Fudan University

Ping Wang; university of Birmingham


The Effects of Mutual Recognition Agreements on Firm-Level International Trade (367)

Thomas Prayer*; University of Cambridge


Competitiveness at the Country-Sector Level: New Measures Based on Global Value Chains (357)

Martyna Marczak*; University of Hohenheim

Thomas Beissinger; University of Hohenheim


Self-Harming Trade Policy? Protectionism and Production Networks (128)

Alessandro Barattieri*; ESG UQAM

Matteo Cacciatore; HEC Montreal


Game Theory
EU26: Conflict and Incentive (Chair: Thomas Daske)

The strategy of conflict and cooperation (214)

Mehmet Ismail*; King’s College London


How to Win the Super Bowl: An evolutionary View on Game Preparation (377)

Marius Gramb*; University of Cologne


Efficient Incentives in Social Networks: Gamification and the Coase Theorem (64)

Thomas Daske*; Technical University of Munich


The Effects of Entry in a Model of Sales (11)

Evangelos Rouskas*; Agricultural University of Athens

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