Thursday, January 3, 2008

Jan. 3, 6:30 pm

ASE/NEA/IAFFE/URPE

Inequality, Democracy, and the Economy (D6)

Presiding: JOHN B. DAVIS, University of Amsterdam and Marquette University

DEAN BAKER, Center for Economic and Policy Research

WILLIAM J. DARITY, JR., Duke University

LOURDES BENERIA, Cornell University

Friday, January 4, 2008

Jan. 4, 8:00 am

AAEA

The Economics of More Flexible Approaches to Simultaneously Meeting Competing Water Demands of Irrigated Agriculture, Cities, and the Environment (Q2)

Presiding: JOHN LOOMIS, Colorado State University

FRANK WARD, New Mexico State University, MARY JO KEALY, CH2M-Hill, LEAH MANNING, Lower Colorado River Authority, and GARY GUY, San Antonio Water System--Least Cost Conservation Measures in Irrigated Agriculture to Sustain Urban and Environmental Water Demands

JAMES PRITCHETT and JENNIFER THORVALDSON, Colorado State University--Water as a Crop: An Investigation into Farmers' Willingness to Adopt Limited Irrigation Practices and Participate in Water Leasing

EDNA LOEHMAN, Purdue University, and JOHN LOOMIS, Colorado State University--Economic Efficiency Conditions for Balancing Optimum Instream Flow as a Public Good and Agricultural Uses of Water

Discussant: RONALD GRIFFIN, Texas A&M University

Jan. 4, 8:00 am

AEA

Firm Heterogeneity and International Trade

Presiding: KALA KRISHNA, Pennsylvania State University

ANDRES RODRIGUEZ CLARE, Pennsylvania State University, and SVETLANA DEMIDOVA, University of Georgia--Trade Policy, Endogenous Variety and Heterogenous Productivity

BEE-YAN ROBERTS, MARK ROBERTS, Pennsylvania State University, and DANIEL XU, New York University--Firm Heterogeneity and Export Activity: Investments in R&D of Taiwanese Firms

HIAU LOOI KEE, World Bank, and KALA KRISHNA, Pennsylvania State University--Trade Policy Differences and Firm Characteristics: Evidence from Bangladesh

Discussants: RICHARD BALDWIN, Graduate Institute of International Studies, Geneva

JAMES TYBOUT, Pennsylvania State University

JOSEPH FRANCOIS, Erasmus University Rotterdam

Jan. 4, 8:00 am

AEA

Better Living through Economics: I

Presiding: JOHN J. SIEGFRIED, Vanderbilt University

CHARLES PLOTT, California Institute of Technology--Using Economic Research to Improve the World We Live In

Discussants: DAN NEWLON, National Science Foundation

DANIEL HAMERMESH, University of Texas-Austin

ALAN BLINDER, Princeton University

Jan. 4, 8:00 am

AEA

The Economic Effects of Informal Care around the World (J2)

Presiding: COURTNEY VAN HOUTVEN, Duke University

NORMA COE, Tilburg University, and COURTNEY VAN HOUTVEN, Duke University--The Effect of Parental Caregiving on Adult Children's Health and Wealth

LAURA CRESPO, Centro de Estudios Monetarios y Financieros (CEMFI)--Caring for Parents and Employment Status of European Mid-Life Women

PIERRE-CARL MICHAUD, RAND Corporation, and AXEL HEITMUELLER, London Business School and Prime Minister's Strategy Unit--Informal Care and Employment in England: Evidence from the British Household Panel Survey

BERNARD VAN DEN BERG, Free University of Amsterdam, DENZIL FIEBIG, and JANE HALL, University of New South Wales--The Impact of Providing Informal Care on Self-Reported Well-Being

Discussants: LILIANA PEZZIN, Medical College of Wisconsin

GEMA ZAMARRO, Tilburg University

STEVEN STERN, University of Virginia

EDWARD C. NORTON, University of North Carolina-Chapel Hil

Jan. 4, 8:00 am

AEA

Relational Contracts and Transactional Efficiency (L1)

Presiding: CLAUDE MENARD, ATOM - University of Paris Pantheon - Sorbonne

ROBERT GIBBONS and REBECCA HENDERSON, Massachusetts Institute of Technology--What Do Managers Do? Suggestive Evidence and Potential Theories about Building and Managing Relational Contracts

CLAUDE MENARD, ATOM - University of Paris Pantheon-Sorbonne--The Governance of Interfirm Agreements: A Relational Contract Perspective

ESHIEN CHONG, CLAUDINE DESRIEUX, and STÉPHANE SAUSSIER, University Paris XI Sud--Relational Contracts in Public-Private Partnerships: A Point of View from Multi-Market Contacts

RICARD GIL, University California-Santa Cruz, and JEAN-MICHEL OUDOT, ATOM - University Paris Pantheon-Sorbonne--Contractual Completeness and Ex-post Efficiency: Trade-Offs between Ex-Ante and Ex-Post Costs in Contract Design

Discussants: SCOTT MASTEN, University of Michigan

STEVEN TADELIS, University of California-Berkeley

RICARD GIL, University of California-Santa Cruz

ERIC BROUSSEAU, University of Paris Nanterre

Jan. 4, 8:00 am

AEA

Technology Adoption in Developing Countries (O3)

Presiding: DEAN YANG, University of Michigan

TAVNEET SURI, Massachusetts Institute of Technology--Selection and Comparative Advantage in Technology Adoption

XAVIER GINE, World Bank, NAVA ASHRAF, Harvard University, and DEAN KARLAN, Yale University--Technology Adoption and Network Formation: Evidence from a Horticultural Credit and Export Program in Kenya

DEAN YANG, University of Michigan, and XAVIER GINE, World Bank--Insurance, Credit, and Technology Adoption: Field Experimental Evidence from Malawi

Discussants: HOYT BLEAKLEY, University of Chicago

RICHARD AKRESH, University of Illinois-Ubana-Champaign

REBECCA THORNTON, University of Michigan

Jan. 4, 8:00 am

AEA

Dynamic Tradeoffs in Health Care Decisions (I1)

Presiding: HANMING FANG, Yale University

JEROME ADDA, University College London, UK--Social Smoking versus Addiction

JOHN CAWLEY and FENG LIU, Cornell University--The Impact of Unemployment on Health Investments and Risky Behaviors

HANMING FANG and ALESSANDRO GAVAZZA, Yale University--Dynamic Inefficiencies in Health Care Markets

AHMED KHWAJA, Duke University, DAN SILVERMAN, University of Michigan, and FRANK SLOAN, Duke University--Time Preference, Time Discounting, and Smoking Decisions

Discussants: To be announced.

Jan. 4, 8:00 am

AEA

Asset Prices with Learning (G1)

Presiding: KLAUS ADAM, European Central Bank

TIMOTHY COGLEY, University of California-Davis, and THOMAS J. SARGENT, New York University--The Market Price of Risk and the Equity Premium: A Legacy of the Great Depression?

ATHANASIOS ORPHANIDES and MIN WEI, Federal Reserve Board--Evolving Macroeconomic Perceptions and the Term Structure of Interest Rates

AVIK CHAKRABORTY, University of Tennessee, and GEORGE EVANS, University of Oregon--Can Perpetual Learning Explain the Forward Premium Puzzle?

KLAUS ADAM, European Central Bank, ALBERT MARCET, CREI, Pompeu Fabra, IAB, and JUAN PABLO NICOLINI, Universidad Torcuato di Tella--Stock Market Volatility and Learning

Discussants: To be announced.

Jan. 4, 8:00 am

AEA

Marriage Markets: Theory and Empirics (J1)

Presiding: CHRISTOPHER FLINN, New York University

MARISTELLA BOTTICINI, Collegio Carlo Alberto, University of Torino, and Boston University--Social Norms and Demographic Shocks: Marriage Markets and Dowries in Medieval Tuscany

ZVIKA NEEMAN, ANDREW NEWMAN, and CLAUDIA OLIVETTI, Boston University--Are Working Women Good for Marriage?

EUGENE CHOO, University of Toronto, SHANNON SEITZ, Boston College, and ALOYSIUS SIOW, University of Toronto

DANIELA DEL BOCA, University of Torino, and CHRISTOPHER FLINN, New York University--Household Time Allocation and Modes of Behavior: A Theory of Sorts

Discussants: SHANNON SEITZ, Boston College

META BROWN, University of Wisconsin-Madison

DANIELA DEL BOCA, University of Torino

WILBERT VAN DER KLAAUW, Federal Reserve Bank of New York

Jan. 4, 8:00 am

AEA

The Economic Geography of Trade and Production (R1)

Presiding: STEPHEN REDDING, London School of Economics

GILLES DURANTON, University of Toronto, PIERRE-PHILIPPE COMBES, University of Aix-Marseille, LAURENT GOBILLON, Institut National d'Etudes Démographiques, DIEGO PUGA, Universitat Pompeu Fabra, and SÉBASTIEN ROUX, Institut National de la Statistique et des Etudes Economiques--The Productivity Advantages of Large Cities: Distinguishing Agglomeration from Firm Selection

STEPHEN REDDING, DANIEL STURM, London School of Economics, and NIKOLAUS WOLF, University of Warwick--History and Industry Location: Evidence from German Airports

GUY MICHAELS, London School of Economics--The Long-Term Consequences of Resource Based Specialization

ELEANOR DOYLE, University College Cork, Ireland, and IMMACULADA MARTINEZ-ZARZOSO, Universitaet-Goettingen, Germany--Productivity, Trade, and Institutional Quality: A Panel Analysis

Discussants: GIOVANNI PERI, University of California-Davis

DONALD DAVIS, Columbia University

JAMES HARRIGAN, Federal Reserve Bank of New York

Jan. 4, 8:00 am

AEA

New Evidence on the Great Moderation of U.S. Business Cycle Volatility (E3)

Presiding: GIORGIO PRIMICERI, Northwestern University

LUCA BENATI, European Central Bank, and PAOLO SURICO, Bank of England--VAR Analysis and the Great Moderation

JONAS FISHER, Federal Reserve Bank of Chicago, and MARTIN GERVAIS, University Western Ontario--First Time Home Buyers and Residential Investment Volatility

ZHENG LIU, Emory University, DANIEL WAGGONER, and TAO ZHA, Federal Reserve Bank of Atlanta--Macroeconomic Volatility and Monetary Policy Regimes

JESUS FERNANDEZ-VILLAVERDE, University of Pennsylvania, and JUAN RUBIO-RAMIREZ, Duke University--How Structural are Structural Parameters? Time-Varying Parameters and the Great Moderation

Discussants: MARC GIANNONI, Columbia University

JEFFREY CAMPBELL, Federal Reserve Bank of Chicago

MATTEO IACOVIELLO, Boston College

BENOIT MOJON, Federal Reserve Bank of Chicago

Jan. 4, 8:00 am

AEA

Neural Foundations of Simple Economic Decision Making (D1)

Presiding: ANTONIO RANGEL, Caltech

BRIAN KNUTSON, Stanford University, SCOTT RICK, Carnegie Mellon University, ELLIOTT WIMMER, Stanford University, DRAZEN PRELEC, Massachusetts Institute of Technology, and GEORGE LOEWENSTEIN, Carnegie Mellon University--Neural Predictors of Purchases

HILKE PLASSMAN, JOHN O'DOHERTY, and ANTONIO RANGEL, Caltech--The Neural Basis for the Computation of Decision Values in Simple Economic Choice

CRAIG FOX, SABRINA TOM, CHRISOPHER TREPEL, and RUSSELL POLDRACK, University of California-Los Angeles--Losses Loom Larger Than Gains on the Brain: The Neural Basis of Loss Aversion in Decision Making under Risk

DAVID LAIBSON, Harvard University, SAMUEL MCCLURE, Princeton University, DAN ARIELY, Massachusetts Institute of Technology, and JONATHAN COHEN, Princeton University--Neural Mechanisms Underlying Temptation and Control

Discussants: ALDO RUSTICHINI, University of Minnessota

Jan. 4, 8:00 am

AEA

Understanding School Performance (I2)

Presiding: RICHARD MURNANE, Harvard University

ERIC HANUSHEK, Stanford University, and STEVEN RIVKIN, Amherst College--School Quality and the Black-White Achievement Gap

TIMOTHY BESLEY, London School of Economics, and STEPHEN MACHIN, University College London--Are Public Sector CEOs Different? Leadership Wages and Performance in Schools

ANDREAS AMMERMUELLER, Centre for European Economic Research (ZEW), Germany, and PETER DOLTON, Royal Holloway College--Pupil-Teacher Gender Interaction Effects on Scholastic Outcomes in England and the USA

WIJI ARULAMPALAM, JEREMY SMITH, and ROBIN NAYLOR, University of Warwick--Student Performance and Class Attendance

Discussants: RICHARD MURNANE, Harvard University

Others to be announced.

Jan. 4, 8:00 am

AEA

A Historical Perspective on Money and Payment Systems (E4)

Presiding: NATHAN SUSSMAN, Hebrew University

STEPHEN QUINN, Texas Christian University, and WILLIAM ROBERDS, Federal Reserve Bank of Atlanta--The Evolution of Checks as a Means of Payment: A Historical Survey

ISABEL SCHNABEL, University of Mainz, and BONN HYUN SONG SHIN, Princeton University--The "Kipper- und Wipperzeit" and the Origin of Central Banks

VINCENT BIGNON, University of Paris 10 at Nanterre & Sciences-Po, and RICHARD DUTU, University of Waikato, New Zealand--Moneychangers and the Quality of Money

Discussants: To be announced.

Jan. 4, 8:00 am

AEA

Macroeconomic News and Financial Markets (E4)

Presiding: SAMUEL REYNARD, Swiss National Bank

PAOLO PASQUARIELLO, University of Michigan, and CLARA VEGA, Federal Reserve Board--The On-the-Run Liquidity Phenomenon

MAGNUS ANDERSSON, European Central Bank--Using Intraday Data to Gauge Financial Market Responses to Fed and ECB Monetary Policy Decisions

JOSHUA HAUSMAN, University of California-Berkeley, and JON WONGSWAN, Barclays Global Investors--Global Asset Prices and FOMC Announcements

ANGELO RANALDO and SAMUEL REYNARD, Swiss National Bank--Monetary Policy, Effectgs on Long-Term Rates and Stock Prices

Discussants: JEREMY GRAVELINE, University of Minnesota

ALAIN CHABOUD, Federal Reserve Board

MARCEL FRATZSCHER, European Central Bank

MICHAEL FLEMING, Federal Reserve Bank of New York

Jan. 4, 8:00 am

AEA

Job and Occupational Mobility

Presiding: GIUSEPPE MOSCARINI, Yale University

ILLOONG KWON, State University of New York-Albany, and EVA MEYERSSON MILGROM, Stanford University--Firm vs. Occupation in Labor Markets: A Cross Analysis of Wage, Mobility, and Promotion

ANA RUTE CARDOSO, IZA Bonn--Big Fish in Small Pond or Small Fish in Big Pond? An Analysis of Job Mobility

IOANA MARINESCU, University of Chicago--Separation Costs and Stochastic Productivity in a Matching Model of Job Turnover

GIUSEPPE MOSCARINI, Yale University, and FRANCIS VELLA, Georgetown University--Occupational Mobility and the Business Cycle

Discussants: FABIEN POSTEL-VINAY, University of Bristol

GUEORGUI KAMBOUROV, University of Toronto

Jan. 4, 8:00 am

AEA

Taxes and Factor Mobility

Presiding: ALICIA MENENDEZ, University of Chicago

PAUL BEAUDRY, University of British Columbia, CHARLES BLACKORBY, University of Warwick, and DEZSOE SZALAY, University of Warwick--Taxes and Employment Subsidies in Optimal Redistribution Programs

ROBERT CHIRINKO, University of Illinois-Chicago, and DANIEL WILSON, Federal Reserve Bank of San Francisco--Tax Competition and Factor Mobility: Evidence from the 50 U.S. States

MARCELLO ESTEVAO, International Monetary Fund--Institutions, Informality, and Wage Flexibility

DONALD ROBBINS, University of Antioquia, and DANIEL SALINAS, Dison Ruiz--The Impact of Payroll Taxes upon Employment, Wages, the Unemployment Rate and Informality: Theory and Simulations for Colombia

Discussants: JAMES HINES, University of Michigan

DAVID WILDASIN, University of Kentucky

Jan. 4, 8:00 am

AEA

Marriage and Motherhood in Developing Countries

Presiding: NANCY QIAN, Brown University

JORGE AGUERO and MINDY MARKS, University of California-Riverside--Motherhood and Female Labor Force Participation: Evidence from Infertility Shocks

MANISHA SHAH and RAJ ARUNACHALAM, University of Melbourne--Prostitutes and Brides

ADRIANA COMACHO, University de los Andes--Low Birth Weight and Pre-Term Babies: An Indirect Effect of Terrorist Attacks in Columbia

RAJEEV DEHEJIA, Tufts University and NBER, KATHLEEN BEEGLE, World Bank, and ROBERTA GATTI, World Bank and CPER--Bride Price and Child Labor: A Higher Price for Girls Who Work More?

Discussants: MARCUS RANGEL, University of Chicago

MICHELE TERTILT, Stanford University

ADRIANA LLERAS-MUNEY, Princeton University

ERIC EDMONDS, Dartmouth College

Jan. 4, 8:00 am

AEA

Assessment of Economics in U.S. High Schools and Undergraduate Programs

Presiding: WENDY A. STOCK, Montana State University

WILLIAM WALSTAD, University of Nebraska-Lincoln, and STEPHEN BUCKLES, Vanderbilt University--Major Findings from the First National Assessment of Educational Progress (NAEP) in Economics

WILLIAM WALSTAD, University of Nebraska-Lincoln, and KENNETH REBECK, St. Cloud State University--A New Edition and National Norming Data for the Test of Understanding in College Economics (TUCE)

GEORG SCHAUR, University of Tennessee-Knoxville, and WILLIAM BECKER, Indiana University--Assessment Practices and Trends in Undergraduate Economics Courses

Discussants: ALAN KRUEGER, Princeton University

WENDY A. STOCK, Montana State University

TISHA L. N. EMERSON, Baylor University

Jan. 4, 8:00 am

AFA

Private Security Issuance and the Going Private Decision

Presiding: HEITOR ALMEIDA, New York University

MATTHEW T. BILLETT, University of Iowa, MARK J. FLANNERY, University of Florida, and JON A. GARFINKEL, University of Iowa--Long-Run Underperformance Following External Finance Issues?

GORDON M. PHILLIPS, University of Maryland, and ARMANDO R. GOMES, Washington University-St. Louis--Why Do Public Firms Issue Private and Public Securities?

ARNOUD W.A. BOOT, University of Amsterdam, RADHAKRISHNAN GOPALAN, and ANJAN V. THAKOR, Washington University-St. Louis--Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?

SREEDHAR T. BHARATH and AMY K. DITTMAR, University of Michigan-Ann Arbor--
To Be Or Not to Be (Public)

Discussants: CHARLES HADLOCK, Michigan State University
MICHAEL HERTZEL, Arizona State University
DANIEL FERREIRA, London School of Economics & Political Science
EKKEHART BOEHMER, Texas A&M University

Jan. 4, 8:00 am

AFA

Risks and Risk Compensation in Asset Markets

Presiding: RAVI BANSAL, Duke University

RAVI JAGANNATHAN, Northwestern University, HITOSHI TAKEHARA, University of Tsukuba, and YONG WANG, Hong Kong Polytechnic University--Calendar Cycles, Infrequent Decisions and the Cross Section of Stock Returns

GIL SADKA, Columbia University, RONNIE SADKA, University of Washington, and RAY BALL, University of Chicago--Aggregate Earnings and Asset Prices

HUAFENG (JASON) CHEN, MARCIN T. KACPERCZYK, and HERNAN ORTIZ-MOLINA, University of British Columbia--Labor Unions and Expected Stock Returns

ROBERT D. ARNOTT, JASON C. HSU, Research Affiliates, LLC, JUN LIU, and HARRY MARKOWITZ, University of California-San Diego--Does Noise Create Size and Value Effects?

Discussants: DANA KIKU, University of Pennsylvania
ROBERT DITTMAR, University of Michigan-Ann Arbor
HENGJIE AI, Duke University
AMIR YARON, University of Pennsylvania

Jan. 4, 8:00 am

AFA

Corporate Fraud

Presiding: ANIL SHIVDASANI, University of North Carolina-Chapel Hill

XIAODING LIU and JAY R. RITTER, University of Florida--
Corporate Executive Bribery: an Empirical Analysis

JONATHAN M. KARPOFF, University of Washington, D. SCOTT LEE, and GERALD S. MARTIN, Texas A&M University--The Consequences to Managers for Financial Misrepresentation

JOHN M. BIZJAK, Portland State University, MICHAEL L. LEMMON, University of Utah and RYAN J. WHITBY, Texas Tech University--Option Backdating and Board Interlocks

Discussants: MICHELLE LOWRY, Pennsylvania State University
ADAIR MORSE, University of Chicago
URS PEYER, INSEAD

Jan. 4, 8:00 am

AFA

Bank Capital Requirements and the Business Cycle

Presiding: VIRAL ACHARYA, London Business School

RAFAEL REPULLO and JAVIER SUAREZ, Centro de Estudios Monetarios y Financieros (CEMFI)--The Procyclical Effects of Basel II

DIANA HANCOCK, Federal Reserve Board, JOE PEEK, University of Kentucky, and JAMES A. WILCOX, University of California-Berkeley--The Repercussions on Small Banks and Small Businesses of Procyclical Bank Capital and Countercyclical Loan Guarantees

CHRISTOPHE PERIGNON, HEC Paris, and DANIEL R. SMITH, Simon Fraser University--The Level and Quality of Value-at-Risk Disclosure by Commercial Banks

EBERHARD FEESS, University of Applied Sciences and Technology Aachen (RWTH Aachen), and ULRICH HEGE, HEC Paris--The Basel II Accord: Internal Ratings and Bank Differentiation

Discussants: ANDREW WINTON, University of Minnesota-Twin Cities
PHILIP STRAHAN, Boston College
ANTHONY SAUNDERS, New York University
TANJU YORULMAZER, New York University

Jan. 4, 8:00 am

AFA

Advances in Portfolio Theory

Presiding: JESSICA WACHTER, University of Pennsylvania

JAKSA CVITANIC, California Institute of Technology, LEVON GOUKASIAN, Pepperdine University, and FERNANDO ZAPATERO, University of Southern California--Optimal Risk Taking With Flexible Income

ANDREA BURASCHI, Imperial College London, PAOLO PORCHIA, and FABIO TROJANI, University of St. Gallen--Correlation Risk and Optimal Portfolio Choice

PETER C. SCHOTMAN and FRANK LUTGENS, University of Maastricht--Predictability-Robust Dynamic Portfolio Choice

HONG LIU, Washington University-St. Louis, and MARK LOEWENSTEIN, University of Maryland--Optimal Portfolio Selection with Transaction Costs and 'Event Risk'

Discussants: VICKY HENDERSON, University of Warwick
MICHAEL JOHANNES, Columbia University
ZHENYU WANG, Federal Reserve Banks
FRANCIS LONGSTAFF, University of California-Los Angeles

Jan. 4, 8:00 am

AREUEA

Mortgage Risk Valuation (G1)

Presiding: JAMES R. FOLLAIN, James R. Follain LLC

MAN CHO, KDI School, CHRISTIAN DERITIS, and ERIC ROSENBLATT, Fannie Mae--Appraisal Bias and Loan Performance: New Evidences

JAMES FOLLAIN, James R. Follain LLC, and MIKE SKLARZ, New City Technology LLC--Evaluating Mortgage Performance with Public Records Data: Why, What, and How

RAPHAEL BOSTIC, University of Southern California, KATHLEEN ENGEL, Cleveland State University, PATRICIA MCCOY, University of Connecticut, and ANTHONY PENNINGTON-CROSS, Marquette University--State and Local Anti-Predatory Lending Laws: The Effects of Assignee Liability and Legal Remedies

KERRY D. VANDELL, University of California-Irvine--Subprime Lending and the Housing Bubble: Tail Wags Dog?

Discussants: TYLER YANG, IFE Group
MARK BEARDSELL, Citigroup
KAREN PENCE, Federal Reserve Board
JESSE ABRAHAM, Wells Fargo Home Mortgage

Jan. 4, 8:00 am

AREUEA

Urban Areas (R0)

Presiding: JANET KOHLHASE, University of Houston

MORRIS DAVIS and FRANCOIS ORTALO-MAGNE, University of Wisconsin--Amenities as TFP and the Factor of Four

JOEL A. ELVERY, Bureau of Labor Statistics--City Size and Skill Intensity

YAN CHANG and NELA RICHARDSON, Freddie Mac--Determinants of Equity Extraction

STUART S. ROSENTHAL, Syracuse University, and WILLIAM C. STRANGE, University of Toronto--Female Entrepreneurship, Agglomeration, and a New Spatial Mismatch

Discussants: ELENA SAFIROVA, Resources for the Future
ALBERT SAIZ, University of Pennsylvania
NANCY WALLACE, University of California-Berkeley
JOHN QUIGLEY, University of California-Berkeley

Jan. 4, 8:00 am

AREUEA

Commercial Real Estate Finance (G2)

Presiding: TIMOTHY J. RIDDIOUGH, University of Wisconsin-Madison

ANTHONY SANDERS, Ohio State University, YONGHENG DENG, University of Southern California, and STUART GABRIEL, University of California-Los Angeles--Commercial Real Estate CDOs and the Pricing of CMBS

DANNY BEN-SHAHAR, Technion - Israel Institute of Technology, EYAL SULGANIK, and EFRAT TOLKOWSKY, Tel Aviv University--Recourse and Non-recourse Mortgage Loans: A Theoretical Analysis Under Asymmetric Information

JUN CHEN, Property & Portfolio Research, Inc.--What Drives Commercial Mortgage Termination?--A Multi-State Transition Approach

XIAOQING ELEANOR XU, Seton Hall University--What Drives the Return on Commercial Mortgage-Backed Securities?

Discussants: TIMOTHY J. RIDDIOUGH, University of Wisconsin-Madison
ABDULLAH YAVAS, Pennsylvania State University
WILLIAM WHEATON, Massachusetts Institute of Technology
JAMES SHILLING, DePaul University

Jan. 4, 8:00 am

ACES

Understanding Foreign Direct Investment (F2)

Presiding: NAURO CAMPOS, Brunel University, UK

BRUNO MERLEVEDE and KOEN SCHOORS, Ghent University, Belgium--FDI and the Consequences: Towards More Complete Capture of Spillover Effects

CHRISTIAN ARNDT and ANSELM MATTES, Institute for Applied Economic Research, Germany--The Impact of Inward FDI and Foreign Ownership on Performance of German Multinational Firms

NAURO F. CAMPOS and YUKO KINOSHITA, International Monetary Fund--Foreign Direct Investment, Institutional Dynamics and Structural Reforms

YURIY GORODNICHENKO, JAN SVEJNAR, and KATHERINE TERRELL, University of Michigan--FDI Spillovers and Innovation

Discussants: KOEN SCHOORS, Ghent University, Belgium

NAURO CAMPOS, Brunel University, UK

Jan. 4, 8:00 am

AFEE

Institutional Evolution and Change (B5)

Presiding: KLAUS NIELSEN, Roskilde University and Birkbeck College, University of London

JOHN F. HENRY, University of Missouri-Kansas City--Hobbes, Seabright and our Ancestors: Institutionalist Theory and the Writing of Pre-History

WILLIAM H. REDMOND, Indiana State University--Formal Institutions in Historical Perspective

ANNE MAYHEW, University of Tennessee--Idle Curiosity and Play: Veblen and Evolutionary Biology

WILLIAM GANLEY, Buffalo State College--Is Institutional Economics an Evolutionary Science?

ANNA KLIMINA, St. Thomas Moore College, University of Saskatchewan--The Veblenian Concept of Habit and Its Manifestation in the Model of Ingrained Equilibrium: The Case of Oligarchic Transition

Discussant: DAVID DEQUECH, University of Campinas

Jan. 4, 8:00 am

AERE

Extensions and New Applications of the Hotelling Model (Q3)

Presiding: JANIE CHERMAK, University of New Mexico

ROBERT H. PATRICK, Rutgers University, and JANIE M. CHERMAK, University of New Mexico--Irreconcilable Differences: Tests of the Theory of Exhaustible Resources

MICHAEL R. CAPUTO, University of Central Florida--A Nearly Complete Test of a Vertically Integrated, Capital Accumulating, Nonrenewable Resource Extracting Model of the Competitive Firm

UJJAYANT CHAKRAVORTY, University of Central Florida and University of Toulouse, MICHEL MOREAUX, University of Toulouse, and MABEL TIDBALL, University of Montpellier--Ordering the Extraction of Polluting Nonrenewable Resources

PETER HARTLEY and KENNETH B. MEDLOCK III, Rice University--A Model of the Operation and Development of a National Oil Company

Discussants: PETER BERCK, University of California-Berkeley

SCOTT FARROW, University of Maryland-Baltimore County

STEPHEN HOLLAND, University of North Carolina-Greensboro

DENISE YOUNG, University of Alberta

Jan. 4, 8:00 am

Behavioral Choice Theory (D0)

Presiding: JAWWAD NOOR, Boston University

LARRY G. EPSTEIN, University of Rochester--Living with Risk

KAREEN ROZEN, Yale University--Foundations of Intrinsic Habit Formation

SIMON GRANT, Rice University, and BEN POLAK, Yale University--Absolute Ambiguity Aversion and Mean-Dispersion Preferences

JAWWAD NOOR, Boston University--Hyperbolic Discounting and the Standard Model

Jan. 4, 8:00 am

Contracts and Communication (D8)

Presiding: SHAN ZHAO, GREMAQ

DAVID RAHMAN, Universidad Carlos III de Madrid, and ICHIRO OBARA, University of California-Los Angeles--Secret Contracts for Efficient Partnerships

JIAYIN SUN, Boston University--Disclosing Multiple Product Attributes

WIOLETTA DZIUDA, Northwestern University--Strategic Argumentation

SHAN ZHAO, GREMAQ and University of Toulouse--Policy Persistence in Repeated Common Agency Game

Jan. 4, 8:00 am

Organizations and Compensation (J3)

Presiding: DEREK NEAL, University of Chicago

LUIS GARICANO, University of Chicago, and THOMAS N. HUBBARD, Northwestern University--Hierarchies and Earnings Inequality Among U.S. Lawyers, 1977-92

MARKO TERVIÖ, University of California-Berkeley--Difference That CEOs Make: An Assignment Model Approach

ANTONIO FALATO, Federal Reserve Board--Superstars or Superlemons? Top Executive Pay and Corporate Acquisitions

ALEX EDMANS, University of Pennsylvania, XAVIER GABAIX, New York University and NBER, and AUGUSTIN LANDIER, New York University--A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

Discussants: MARIO MACIS, University of Michigan

DEREK NEAL, University of Chicago

Jan. 4, 8:00 am

Political Economy (P1)

Presiding: NICOLAS SAHUGUET, HEC Montreal

SANTIAGO OLIVEROS, University of California-Berkeley--Who Abstains in Equilibrium?

ARIANNA DEGAN, UQAM, and ANTONIO MERLO, University of Pennsylvania--Do Voters Vote Sincerely?

ORIOL CARBONELL-NICOLAU, Rutgers University--A Positive Theory of Income Taxation

NICOLAS SAHUGUET, HEC Montréal, and BENOIT CRUTZEN, Erasmus University, Rotterdam--Redistributive Politics with Distortionary Taxation

Jan. 4, 8:00 am

Developments in Econometrics (C1)

Presiding: VICTOR CHERNOZHUKOV, Massachusetts Institute of Technology

VADIM MARMER and ARTYOM SHNEYEROV, University of British Columbia--Quantile-Based Nonparametric Inference for First-Price Auctions

SOKBAE LEE, University of College London, OLIVER LINTON, London School of Economics, and YOON-JAE WHANG, Seoul National University--Testing For Stochastic Monotonicity

SHINICHI SAKATA, University of British Columbia--Testing Parameter Constancy Across Many Groups

STANISLAV ANATOLYEV, New Economic School--Inference In Linear Regression Models With Many Regressors

Jan. 4, 8:00 am

Public Finance (H2)

Presiding: CHE-LIN SU, Northwestern University