CIRJE特別セミナー/CIRJE Special Seminar 2012







          ※ 2013年4月1日現在 


 

<今年度終了分>



日時

2012年6月1日(金 Friday)9:00-12:00

場所

東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 セミナー室
in Seminar Room on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告

海道宏明 (Hiroaki Kaido) (Boston University)

Estimation and Inference for Partial Identified Models: Recent Developments and Applications

Abstract

 


日時

2012年6月1日(金 Friday)12:15-13:45

場所

東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 セミナー室
in Seminar Room on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告

Michael D. Hurd (RAND)

Consumption Dynamics Following Unemployment and Re-Employment (joint with Susann Rohwedder (RAND) )

Abstract

 


日時

2012年5月31日(木 Thursday)16:40-18:20

場所

東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 セミナー室
in Seminar Room on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告

Robert Willis (University of Michigan)

The Implications of Alzheimer's Risk for Household Financial Decision-Making (joint with Joanne W. Hsu (Federal Reserve Board))

Abstract

 


日時

2012年7月5日(木 Thursday)9:00-12:00

場所

東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 セミナー室
in Seminar Room on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告

Xiaohong Chen (Yale University)

Semi-nonparametric Models and Methods

Abstract

 


 

Special Joint Seminar

Evaluation of Development Assistance:
Perspectives from the World Bank Group and JICA [PDF]

Monday October 8, 2012, 3:00PM-5:15PM

Venue

in Lecture Hall No.1 on the basement floor of the Economics Research Building [Map]

Schedule

Organizers: IEG, World Bank; JICA Research Institute; ESPD project, University of Tokyo

(No Reservation Required)

Evaluation of development assistance is an indispensable, key means to improve development effectiveness. In this seminar, we invite experts from the World Bank Group and JICA Research Institute to learn from their experiences in post-disaster reconstruction, social protection, and other technical assistance.

15:00-15:30 Remarks by Ms. Caroline Heider, Vice President, IEG, World Bank
                 "Improving the Effectiveness of Development Agencies through Independent evaluation"

15:30-16:00 Remarks by Prof. Akio Hosono, Director, JICA Research Institute
               "Resilience and Disaster Risk Management"

16:00-17:15 Panel Discussion
  Akio Hosono
  Caroline Heider  
  Emmanuel Jimenez (IEG Director)
  Yasuyuki Todo (University of Tokyo & JICA RI)
  Yasuyuki Sawada (University of Tokyo & JICA RI)

17:30- Reception


 

特別ジョイントセミナー

開発援助評価を再考する −世界銀行グループとJICAの見地から− [PDF]

2012年10月8日(月 Monday)15:00-17:15

場所

東京大学大学院経済学研究科棟 地下1階 第一教室 [Map]

報告

オーガナイザー: IEG, World Bank; JICA研究所; 東京大学ESPD プロジェクト

(予約は不要です)

開発援助の評価は、援助効果の改善にとっての「鍵」であることは言うまでもありません。今回、世界銀行独立評価局副総裁Caroline Heider氏とJICA研究所細野昭雄所長らをお招きして、世界銀行とJICAの様々な分野における支援の評価、例えば災害復興、社会的保護やその他技術協力などの評価の経験について学び、 議論をしたいと思います。


15:00-15:30
 講演
  世界銀行評価局(IEG)副総裁 Caroline Heider氏
   "Improving the Effectiveness of Development Agencies through Independent evaluation"

15:30-16:00  講演
  JICA研究所所長 細野昭雄教授
   "Resilience and Disaster Risk Management"

16:00-17:15  パネル討論
  細野昭雄
  Caroline Heider
  Emmanuel Jimenez (IEG局長)    
  戸堂康之(東京大学・JICA研究所)
  澤田康幸(東京大学・JICA研究所)

17:30-     懇談会


日時 1) 2012年10月24日(水 Wednesday)14:50-18:20 

2) 2012年10月25日(木 Thursday) 14:00-

場所

1) 東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 セミナー室
in Seminar Room on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

2) 東京大学大学院経済学研究科 学術交流棟 (小島ホール)6階 CIRJE内
in CIRJE office on the 6th floor of the Economics Research Annex (Kojima Hall) [Map]

報告

John Riew (Pennsylvania State University, USA/Short Term Vistor, CIRJE)

アメリカのPh. Dプログラムにおける研究活動に関する特別講義 [PDF]

※ 大学院生・学生向けのセミナーです。

Abstract

phD留学予定・希望の大学院生・学生に向けて、アメリカ留学についてお話し頂く特別講義です。



 

[Job Seminar from January to February 2013]

日時

2013年1月29日(火 Tuesday)12:00-13:30

場所

東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 セミナー室
in Seminar Room on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告

Hitoshi Tsujiyama (University of Minnesota)


Implications of Health Care Reform for Inequality and Welfare [PDF]

Abstract

Among those who are neither eligible for public health insurance nor offered employer-provided insurance in the United States, more than three-fourths are uninsured. This paper examines how upcoming health care reform aiming to increase insurance coverage affects savings and welfare. I develop a heterogeneous-agent life-cycle model of insurance choice in which households face medical expenditure risk in addition to uninsurable income risk. The existence of an uninsured population reflects limited liability in the medical services market and actuarially unfair premiums in the health insurance market. I estimate key structural parameters so that the model broadly replicates the joint distribution of insurance coverage by age, health, earnings and wealth across active participants in the individual insurance market. I then use the model to explore the implications of the Affordable Care Act which prohibits insurers from price-discriminating based on health risk and mandates the purchase of insurance. I find that the health care reform induces wealth accumulation among the uninsured poor who no longer take advantage of limited liability, leading to lower wealth inequality. The reform also generates welfare gains for the rich who are less exposed to risk, but welfare losses for the poor who lose the benefit of access to free emergency care.

日時

2013年2月4日(月 Monday)10:30-12:00  ※時間にご注意下さい。 

※ 以下のセミナーは中止となりました。

報告

Chaehee Shin (University of Chicago)


The Supply Side of Diversi cation: Evidence from Global Entry Patterns of Mutual Fund Families 


日時

2013年2月4日(月 Monday)12:00-13:30 ※会場にご注意下さい。 

場所

東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 第2セミナー室
in Sminar Room No. 2 on the 1st floor of the Economics Research Annex (Kojima Hall)

報告

Xuan Tam (University of Cambridge)


Bankruptcy and Delinquency in a Model of Unsecured Debt [PDF]

Abstract

Limited commitment for the repayment of consumer debt originates from two places: (i) formal bankruptcy laws granting a partial or complete legal removal of debts under certain circumstances, and (ii) informal default and renegotiation, "delinquency." In the US, both channels are used routinely. The usefulness of each of these routes as a way out of debt depends on the costs and benefits available through the other: delinquency exposes a household to collections processes initiated by lenders, while formal bankruptcy appears to carry more visible consequences for future transactions, including restrictions to even secured forms of credit. This paper introduces a model of unsecured consumer credit markets in the presence of both bankruptcy and delinquency. A key feature of our model is to allow lenders to deal with debtors in delinquency by choosing the (implicit) interest rate on debt owed by delinquent borrowers to maximize the market value of these obligations. We show that these two options to default on unsecured debt indeed interact in important ways. We first show that households with a large amount of debt who have received negative income shocks prefer delinquency. As long as their income does not improve, they remain there. This behavior occurs as lenders' optimal behavior is to offer write-offs to households in delinquency, but only when they have very low incomes. As income improves, lenders can extract more from the households that stay delinquent, so the households look to reorganize their financial situation by either repaying the debt or filing for bankruptcy. We also show that stricter control of delinquency, defined by a relatively high ability to garnish wages, increases the risk of bankruptcy and lowers equilibrium credit use, in line with cross-state comparisons in the U.S. From a normative perspective, such policies lower welfare, in part because they encourage excessive use of bankruptcy.


日時

2013年2月5日(火 Tuesday)12:00-13:30

場所

東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 セミナー室
in Seminar Room on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告

Alexis Akira Toda (Yale University)


A Tractable Quantitative Model of Default and Asset-Backed Securities [PDF]

Abstract

Although securitization is widely used in reality, few general equilibrium models
have collateralized lending, default, and asset-backed securities as key elements. In this paper I develop a highly tractable, heterogeneous agent, incomplete markets dynamic stochastic general equilibrium model with these features. In the model, agents who face aggregate and idiosyncratic investment risk can borrow by putting up their investments as collateral. Borrowers can default at any time, with the only penalty being the confiscation of collateral. The debt contracts are pooled, issued as asset-backed securities, and held by agents in equilibrium. I define the equilibrium concept and prove the existence. The equilibrium allocation weakly Pareto dominates the autarky allocation, but strictly Pareto dominates only if there is active default. Assets in zero net supply are irrelevant for risk sharing when agents have a common relative risk aversion. Numerical examples show that as the collateral requirement loosens, borrowing rates and individual welfare (given wealth) increase and inequality decreases. With only one investment technology, economic growth is hurt because more risk sharing induces less precautionary saving. With two or more technologies, however, asset-backed securities typically enhance economic growth because agents allocate more of their capital to the risky but high return technology.



日時

2013年2月8日(金 Friday)12:00-13:30

場所

東京大学大学院経済学研究科 学術交流棟 (小島ホール)1階 セミナー室
in Seminar Room on the 1st floor of the Economics Research Annex (Kojima Hall) [Map]

報告

Annaïg Morin (European University Institute)


Wage Dispersion over the Business Cycle [PDF]

Abstract

In this paper, I establish a positive correlation between wage dispersion and GDP at business cycle frequencies. Moreover, I provide a rationale for the procyclical properties of wage dispersion by studying a dynamic search model with wage-posting in which workers can get multiple job offers each period. I analyze the channels through which the business cycle influences the shape of the wage distribution. The presence of search frictions gives firms monopsony power, i.e. power to impose wage levels on workers, and generates differences in wage policy across firms. The speed at which workers can move to other jobs affects the degree of firms competition over workers and impacts the extent to which firms exploit their monopsony power. Therefore, in booms, the value of workers' outside option goes up as the quantity and the quality of job offers increase, and this, in turn, erodes firms' monopsony power in wage setting. In consequence, firms post more high-paying vacancies. Such strategic reaction of firms thickens the upper tail of the wage distribution, shifts the mass of the wages to the right and, as a result, generates a larger wage dispersion.