2011 Scientific Report
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22001111 SScciieennttiiffiicc RReeppoorrtt What’s IGIER 2011 Activities and Accomplishments What’s IGIER p. 1 Visiting Students Initiative p. 5 Mission p. 1 Governance p. 1 Visiting Scholars Program p. 8 Members and Staff p. 1 Accomplishments p. 1 IGIER Fellows in Editorial Boards p. 9 Research at IGIER p. 2 Honors and Awards to IGIER Scholars p. 10 Sponsored Research: ERC Grants p. 10 IGIER Policy Focus p. 11 2011 Who’s at IGIER Scientific Events 20th Anniversary Conference p. 12 Governance p. 3 Events Co-Organized or Members and Staff p. 3 Hosted by IGIER p. 13 IGIER Seminar Series p. 14 IGIER Policy Seminar p. 14 Research Output Articles in Refereed Journals p. 15 Working Papers Series p. 17 Meet Some IGIER Scholars p. 20 www.igier.unibocconi.it 0 What’s IGIER What’s IGIER Members and Staff Launched in 1990 by Francesco Giavazzi, Mario Today the IGIER community consists of 69 Monti, and Richard Portes as a project of Bocconi people (27 Affiliates, 30 Fellows, 9 Visiting University, the Center for Economic Policy Fellows, 1 IT consultant, and 2 staff members). Research (CEPR) and the National Bureau for Economic Research (NBER), today IGIER is an Accomplishments international research environment in which Since its beginnings in the early 1990s, IGIER has Affiliates and Fellows, who are Bocconi faculty contributed to attract to Italy a pool of talented members, as well as Visiting scholars and European economists working in leading research students, conduct empirical and theoretical universities abroad, who are now Bocconi faculty research in economics and the social sciences. members. Mission Its scholars publish books and articles in top IGIER is committed to support a research journals in demography, economics, finance, and community that shares the values and best political sciences, and belong to the small practices of the international scientific community of highly cited scholars according to a community. To this end, it provides its scholars variety of academic rankings. IGIER scholars with an environment that nurtures frontier and include Fellows of the Econometric Society, past rigorous empirical and theoretical research aiming presidents and current Council members of the to make a major impact in economics and the European Economic Association, as well as social sciences. The center is committed to help members of the editorial boards of leading Bocconi fulfill the mission of hiring and retaining journals. outstanding faculty from the best academic institutions. IGIER fellows are the recipients of prestigious honors and prizes, including the Jahnsson award Governance by the European Economic Association (to the IGIER has a board of six scholars (two appointed best economist in Europe under 45), the Alfred P. by Bocconi, two by CEPR, and two by NBER), a Sloan Research fellowship in the U.S. (to the best President and a Director. eight young economists), and the Carlo Alberto Medal (to the best Italian economist under 40). President Director 1989-1994 Mario Francesco It is noteworthy that IGIER is one of the research Monti Giavazzi centers in economics in Europe whose members 1995-2002 Francesco Guido have won the largest number (seven) of the Giavazzi Tabellini competitive Starting or Advanced ERC grants in 2003-2006 Guido Carlo the past three years. Tabellini Favero 2006-2008 Guido Roberto Three IGIER fellows are also the recent recipient Tabellini Perotti of donor funded chairs. 2008-2010 Francesco Carlo Giavazzi Favero 2011-2013 Carlo Maristella Favero Botticini www.igier.unibocconi.it 1 Research at IGIER IGIER greatly values and promotes interactions Finance: this group of scholars works on a large among Bocconi scholars working in different variety of topics in both asset pricing and fields. Its scholars work on a wide array of topics corporate finance. The team is also committed to that can be sorted into the following seven teams: excellence in teaching and to bring new developments to the classroom (e.g., through the Demography and the Economy: this group MATLAB project it has created a local library of studies the interrelationship between economic routines for the use of graduate students and change, institutions, and population dynamics, the researchers and introduced a new framework for economic consequences of plagues in the teaching applied quantitative finance). medieval and early modern periods, longevity risk, as well as the interplay between changing Labor Economics: this group conducts research age structures and cohort size, the economy, and on labor markets, immigration in Europe, financial markets. economics of education, tax reforms, pensions and social security systems. The team is very active in Development and Economic History: this building and managing innovative datasets (e.g., group studies a variety of topics including labor institutions database, time use by Italian conflict, ethnic fractionalization, racial CEOs database, Italian managers dataset, segregation, the role of media, microcredit and immigration policies database, the citizenships microfinance, human trafficking, land reforms, laws dataset, etc). policy experiments to evaluate the impact of incentive programs on education outcomes, the Macroeconomics: the group studies a wide economic history of the Jews, marriage markets, range of topics in macroeconomic theory, dowries and bride prices in many civilizations of monetary economics, fiscal policy, central the past, and the rise of marine insurance contracts banking, macro-econometrics, economics of the and markets in medieval Europe. family, international finance, and international, trade. The team is actively involved in the policy Economic Theory: this group develops models debate on the recent economic and financial crisis. to study the way individuals make decisions, as well as strategic interactions among individuals, Political Economics: the group studies topics at households, and firms. Some of their findings are the intersection of economics and political being applied to a wide range of fields spanning science, including the role of politicians, the from finance to environmental economics. The political economy of the welfare state and team is also actively involved in testing theories structural reforms, social capital and culture, and through lab experiments conducted in the brand- political institutions. The group is very active in new Experimental Laboratory housed at Bocconi. developing innovative datasets on electoral competitions and outcomes. www.igier.unibocconi.it 2 2011 Who’s at IGIER Governance Members and Staff President Carlo Favero Director Maristella Botticini In 2011, the IGIER community consisted of Board 27 Affiliates Stephen Cecchetti appointed by NBER 30 Fellows Jordi Galì appointed by CEPR 9 Visiting Fellows Franco Peracchi appointed by Bocconi 1 IT consultant Roberto Perotti appointed by Bocconi 2 Staff members Richard Portes President of CEPR James Poterba President of NBER Affiliates and Fellows Alberto Guido Anna Pierpaolo Mascia Francesco Alesina Alfani Battauz Battigalli Bedendo Billari Fellow Affiliate Affiliate Fellow Affiliate Fellow Tito Stefano Maristella Emilio Simone Alessandra Boeri Bonini Botticini Calvano Cerreia-Vioglio Cillo Fellow Affiliate Fellow Affiliate Affiliate Affiliate Paolo Francesco Alfredo Paolo Carlo Viktar Colla Corielli Di Tillio Epifani Favero Fedaseyeu Affiliate Fellow Affiliate Fellow Fellow Affiliate Alessandra Chiara Vincenzo Emilia Francesco Massimo Fogli Fumagalli Galasso Garcia Giavazzi Guidolin Fellow Fellow Fellow Affiliate Fellow Fellow Selim Katja Maria Daniela Nenad Eliana Fabio Gulesci Kaufmann Kolusheva Kos La Ferrara Maccheroni Affiliate Affiliate Affiliate Affiliate Fellow Fellow www.igier.unibocconi.it 3 Andreas Marco Massimo Debrah Mattias Joshua Madestam Maffezzoli Marinacci Meloso Messner Miller Affiliate Fellow Fellow Affiliate Fellow Affiliate Tommaso Tommy Tommaso Fulvio Marco Nicola Monacelli Murphy Nannicini Ortu Ottaviani Pavoni Fellow Affiliate Affiliate Fellow Fellow Fellow Kim Michele Roberto Fabrizio Michele Giovanni Peijnenburg Pellizzari Perotti Perri Polo Puopolo Affiliate Affiliate Fellow Fellow Fellow Affiliate Barbara Luca Linus Anna Guido Claudio Rindi Sala Siming Simoni Tabellini Tebaldi Fellow Fellow Affiliate Affiliate Fellow Affiliate Antonella Fernando Hannes Trigari Vega-Redondo Wagner Fellow Fellow Affiliate Visiting Fellows Alberto Martina Laura Marco Francesco Paolo Bisin Bjorkman Bottazzi Da Rin Daveri Manasse Massimiliano Giovanni Aldo Marcellino Pica Rustichini Staff Marco Laura Silvia Jazzetta Salini Tesauro Computer Project Project Assistant Consultant Administrator www.igier.unibocconi.it 4 2011 Visiting Students Initiative Objective Students are one of Bocconi’s most important assets. To foster mentoring and research interactions between faculty members and students, in 2011 IGIER launched the Visiting Students Initiative, an innovative program to mentor undergraduate and master students. The initiative is organized around a few building blocks to endow students with skills that will be helpful in developing successful academic or professional careers in Italy or abroad. Description The Visiting Student position is for one academic year, renewable upon mutual agreement. Subject to space availability, Visiting Students are assigned desk space in the IGIER offices. Individual mentors chosen among IGIER’s scholars will supervise students’ research activities. Visiting Students are expected to actively participate in the center’s scientific activities