Academic SeminarsAcademic seminar – May 27, 2013, presenter: O. Talavera
15:30, room 207
On Monday, May 27, prof. Oleksandr Talavera presented the latest article of two prominent EERC/KSE graduates - prof. Yuriy Gorodnichenko and prof. Oleksandr Talavera titled "Price settings in online markets: Basic facts, international comparisons, and cross-border integration".
Abstract. This paper documents basic facts about prices in online markets in the U.S. and Canada which is a rapidly growing segment of the retail sector. While less rigid than prices in brick-and-mortar stores, online price exhibit significant stickiness (price spells can be as high as one month of average) and significant dispersion of prices even for identical goods within and across countries. The paper shows that for online markets price differentials across countries are adjusted faster (half-life of about 2- 2.5 months) and the pass-through of nominal exchange rate is similar (approx. 30%) when compared to the corresponding counterparts of goods sold in regular stores. Degree of competition, stickiness of prices, synchronization of price changes, reputation of sellers, and returns to search effort are important determinants of pass-through and speed of price adjustment for international price differentials.
Academic seminar – April 29, 2013, presenter: T. Dybovyk
12:00, room 206
On Monday, Apr 29, at 12:00 (room 206) Tetyana Dybovyk will present her paper titled "Macroeconomic Aspects of Italian Pension Reforms of 1990s."
Abstract. In 1990s, several pension reforms had been adopted to insure financial sustainability of Italian retirement system. Two main features of Amato and Dini reforms are considered: (i) adoption of notional defined contributions formula; (ii) price indexation of benefits as compared to wage indexation prior to 1992. This paper studies household decisions and welfare consequences of the reforms using general equilibrium overlapping generations framework with special focus on time allocation and human capital accumulation decisions of transition generations. The economic and demographic structure of the economy is calibrated to Italian macroeconomic variables in 1992 and observed earnings profile.
Academic seminar – April 16, 2013, presenter: I. Eremenko
15:30, room 207
On Tuesday, Apr 16, at 15:30 (room 207) Igor Eremenko will present a paper entitled "Computable General Equilibrium Modeling and Some Applications to International Trade Issues in Ukraine."
Abstract: It is both vital and difficult to measure complex policy issues, such as becoming a part of Custom Union, implementing pension reform or supporting renewable energy. There are so many parties involved and all of then are interrelated. This presentation will talk about one method that allows to get quantitative estimations of such issues: Computable General Equilibrium models. First part of presentation will talk about methodology of CGE modelling, second part will discuss several CGE models that concern Ukraine's international trade.
Academic Seminar – January 30, 2013, presenter: V.Vakhitov
15:30, room 207
On Wednesday, Jan 30, at 15.30 (room 207), Volodymyr Vakhitov will present his paper (joint with Oleksandr Shepotylo) entitled "Wage inequality and trade reform: productivity channel."
Abstract: We explore the productivity channel of rising wage inequality within manufacturing industries. To solve the endogeneity problem, we use the trade and services liberalization episode in Ukraine in 2001-2007 as a source of exogenous variation. We confirm the main predictions of new models that link productivity and wages. First, firms that use liberalized goods and services more extensively have higher gains in productivity and and are more likely to export. These gains in turn result in heterogeneous growth in wages and higher wage inequality. Second, extensive margins of trade non-linearly influence industry inequality of wages. The share of exporters within an industry increases wage inequality when the share of exporters is low and reduces wage inequality when the share of exporters is close to 1.
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