Happening @ Michigan https://events.umich.edu/group/3566/rss RSS Feed for Happening @ Michigan Events at the University of Michigan. Effects of Caste-Based Affirmative Action in Governance on Socioeconomic Networks and Resource Provision (March 28, 2024 4:00pm) https://events.umich.edu/event/117999 117999-21840336@events.umich.edu Event Begins: Thursday, March 28, 2024 4:00pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

We study the impacts of political affirmative action for historically disadvantaged caste groups in Bihar, India on village social and economic networks. To estimate the causal impacts of the policy, we conduct surveys in communities around the discontinuity in the state government’s policy assignment rule. We find that the marginal constituency assigned to the reservation policy experiences a drop in cross-caste network links and an increase in homophily. Consistent with increased homophily, reservation leads to less social learning when information is introduced to the community. While reservation is active, we find no change in the salience of caste concerns and no shifts in beliefs about trustworthiness, competence, or work ethic, among others, across caste. Finally, consistent with prior work, reservation improves access to redistribution schemes. Both lower and upper castes benefit, indicating no crowd-out at the expense of upper castes.

This talk is presented by the Economic Development Seminar, sponsored in part by the Department of Economics through a generous gift given by Jay and Beth Rakow. This talk is also sponsored by the International Policy Center at the Ford School.

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Workshop / Seminar Thu, 21 Mar 2024 08:48:06 -0400 2024-03-28T16:00:00-04:00 2024-03-28T17:20:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Effects of Caste-Based Affirmative Action in Governance on Socioeconomic Networks and Resource Provision
Getting Down to Business: Chain Ownership and Fertility Clinic Performance (March 29, 2024 10:00am) https://events.umich.edu/event/118203 118203-21840644@events.umich.edu Event Begins: Friday, March 29, 2024 10:00am
Location: Lorch Hall
Organized By: Department of Economics Seminars

Acquisitions by corporate entities have fueled the growth of chain organizations in healthcare. A chain is a multiunit firm under the same ownership and management providing similar services in different locations. Chain ownership has been credited with boosting firm performance in the retail and service sectors but has been criticized for prioritizing profits over the well-being of patients in the healthcare sector. This paper finds that chain ownership improves healthcare outcomes in the market for In Vitro Fertilization (IVF). Using novel data on U.S. fertility clinics and difference-in-differences methods, we find that IVF cycles increase by 27.2%, and IVF success rates increase by 13.6% after acquisition by a fertility chain. We provide evidence that fertility chains facilitate resource and knowledge transfers needed to enhance quality and expand the IVF market. For example, acquired clinics change IVF processes and procedures to achieve the IVF gold standard of simultaneously reducing higher-risk multiple births and increasing singleton births. We discuss how the fertility sector’s relatively minimal market frictions and information asymmetries may incentivize chain owners to invest in quality.

This talk is presented by the Applied Microeconomics/Industrial Organization Seminar, sponsored by the Department of Economics with generous gifts given through the Jean Coven Speakers Fund in Economics and the Economics Strategic Fund.

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Workshop / Seminar Fri, 16 Feb 2024 14:07:01 -0500 2024-03-29T10:00:00-04:00 2024-03-29T11:20:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Getting Down to Business: Chain Ownership and Fertility Clinic Performance
Multidimensional Screening with Rich Consumer Data (with Mira Frick and Yuhta Ishii) (March 29, 2024 2:30pm) https://events.umich.edu/event/118221 118221-21840664@events.umich.edu Event Begins: Friday, March 29, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

We study multi-good sales by a seller who has access to rich data about a buyer’s valuations for the goods. Optimal mechanisms in such multi-dimensional screening problems are known to in general be complicated and not resemble mechanisms observed in practice. Thus, we instead analyze the optimal convergence rate of the seller’s revenue to the first-best revenue as the amount of data grows large. Our main result provides a rationale for a simple and widely used class of mechanisms—(pure) bundling—by showing that these mechanisms allow the seller to achieve the optimal convergence rate. In contrast, we find that another simple class of mechanisms—separate sales—yields a suboptimal convergence rate to the first-best and thus is outperformed by bundling whenever the seller has sufficiently precise information about consumers.

This talk is presented by the Economic Theory Seminar, sponsored by the Department of Economics with generous gifts given through the Mark Harms Fund and the Economics Strategic Fund.

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Workshop / Seminar Thu, 21 Mar 2024 09:36:11 -0400 2024-03-29T14:30:00-04:00 2024-03-29T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Multidimensional Screening with Rich Consumer Data (with Mira Frick and Yuhta Ishii)
We've Got You Covered: Rebooting American Health Care (April 1, 2024 4:00pm) https://events.umich.edu/event/117366 117366-21839219@events.umich.edu Event Begins: Monday, April 1, 2024 4:00pm
Location: Ross School of Business
Organized By: Department of Economics Seminars

The U.S. health care system spends more per person than anywhere else in the world, but still leaves nearly 30 million without coverage or access to medical care. Join us for a fireside chat with renown health economist and researcher Amy Finkelstein as she discusses ways forward to fix what is broken about America's health care system.


This talk is presented by the Public Finance Seminar, sponsored in part by the Department of Economics with generous gifts given through the Elizalde-Winikates Family Fund in Economics and the Economics Strategic Fund.
This talk is also presented by the Ross School of Business.

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Lecture / Discussion Thu, 14 Mar 2024 09:43:59 -0400 2024-04-01T16:00:00-04:00 2024-04-01T17:00:00-04:00 Ross School of Business Department of Economics Seminars Lecture / Discussion We've Got You Covered: Rebooting American Health Care
Measuring Religion from Behavior: Economic Adversity, State Control and Religious Adherence in Afghanistan (April 2, 2024 1:00pm) https://events.umich.edu/event/118000 118000-21840337@events.umich.edu Event Begins: Tuesday, April 2, 2024 1:00pm
Location: Haven Hall
Organized By: Department of Economics Seminars

Religious adherence has been hard to study in part because it is hard to measure. We develop a new measure of religious adherence, which is granular in both time and space, using anonymized mobile phone logs. We use this measure to shed light on the nature of religious practice in Islamic societies. First, we show that religious adherence rises sharply when districts in Afghanistan fall under Taliban control. Second, when climate shocks create adverse economic conditions, people become more religiously observant -- particularly in unirrigated areas where climate matters most to agricultural production. More broadly, our results indicate that economic and political adversity cause individuals to become more religiously adherent.


This talk is presented jointly by the Political Economy Workshop (PEW) and the Economic Development Seminar, sponsored in part by the Department of Economics through a generous gift given by Jay and Beth Rakow. This talk is also sponsored by the International Policy Center at the Ford School.

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Workshop / Seminar Thu, 21 Mar 2024 12:47:31 -0400 2024-04-02T13:00:00-04:00 2024-04-02T14:30:00-04:00 Haven Hall Department of Economics Seminars Workshop / Seminar Measuring Religion from Behavior: Economic Adversity, State Control and Religious Adherence in Afghanistan
Economic History Seminar- April 2 (April 2, 2024 2:30pm) https://events.umich.edu/event/118214 118214-21840654@events.umich.edu Event Begins: Tuesday, April 2, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Economic History Seminar, sponsored by the Department of Economics with generous gifts given through the Harrison Metal Visiting Scholar Award Fund and the Economics Strategic Fund.

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Workshop / Seminar Tue, 06 Feb 2024 14:02:09 -0500 2024-04-02T14:30:00-04:00 2024-04-02T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Economic History Seminar- April 2
Liquidity and Investment in General Equilibrium (April 3, 2024 11:30am) https://events.umich.edu/event/117989 117989-21840307@events.umich.edu Event Begins: Wednesday, April 3, 2024 11:30am
Location: Lorch Hall
Organized By: Department of Economics Seminars

This paper studies the implications of trading frictions in financial markets for firms’ investment and dividend choices, and their aggregate consequences. When equity shares trade in frictional asset markets, the firm’s problem is time-inconsistent, and it is as if it faces quasi-hyperbolic discounting. The transmission of trading frictions to the real economy crucially depends on the firms’ ability to commit. In a calibrated economy without commitment, larger trading frictions imply lower capital and production. In contrast, if firms can commit, trading frictions affect asset prices but have no aggregate effect on capital and production. Our findings rationalize several empirical regularities on liquidity and investment.

This talk is presented by the Macroeconomics Seminar, sponsored by the Department of Economics with generous gifts given through the Michael Beauregard Fund for Macroeconomics and the Economics Strategic Fund.

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Workshop / Seminar Tue, 26 Mar 2024 16:12:26 -0400 2024-04-03T11:30:00-04:00 2024-04-03T12:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Liquidity and Investment in General Equilibrium
Divorce Law Reforms, Matrimonial Regimes and Family Behaviour (April 3, 2024 2:30pm) https://events.umich.edu/event/117981 117981-21840260@events.umich.edu Event Begins: Wednesday, April 3, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

We study how divorce laws affect household formation, dissolution, and behaviour in Mexico, where (i) couples are able to choose an asset division regime at the time of marriage; (ii) states experienced a staggered adoption of no-fault divorce; and (iii) cohabitation is prevalent. Using linked administrative data and an event study design we show that the shift to unilateral divorce affected couples' partnership choice by increasing cohabitation and the degree of assortative mating. While this shift did not have a significant impact on the choice of asset division regime, the increase in divorce rates were largest among those marriages choosing community property. The same reforms also led to an overall increase in women's leisure time. To rationalize these empirical patterns, we develop an equilibrium limited-commitment model of partnership formation, asset division regime choice, and household dissolution that allows couples to choose between cohabitation and marriage and for spouses to cease cooperation within marriage. We use our model to evaluate the life-time welfare value of divorce laws and asset division regime choice, and also consider the role of a homemaker compensation clause.


This talk is presented by the Labor Economics Seminar, sponsored in part by the Department of Economics with generous gifts given through the Abraham and Thelma Zwerdling Labor Economics Program.

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Workshop / Seminar Wed, 27 Mar 2024 09:30:26 -0400 2024-04-03T14:30:00-04:00 2024-04-03T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Divorce Law Reforms, Matrimonial Regimes and Family Behaviour
Liquid Markets: An Empirical Analysis of a Water Exchange (April 5, 2024 10:00am) https://events.umich.edu/event/118205 118205-21840645@events.umich.edu Event Begins: Friday, April 5, 2024 10:00am
Location: Lorch Hall
Organized By: Department of Economics Seminars

This paper empirically analyzes the performance of one of the world’s most developed water exchanges, which operates as a primitive limit order market. Upon modeling participants’ choice of order price and order type, I identify their latent value distributions from observed orders and trades. The model flexibly allows for dynamics, risk aversion, and default behavior. Counterfactual simulations suggest the observed exchange attains substantially lower trade surplus than the benchmark of periodic uniform-price market clearing. Droughts exacerbate the gap in surplus per unit traded between the observed exchange and the benchmark. I assess the role of volume frictions, price shading, and temporal dispersion in explaining the gap.

This talk is presented by the Applied Microeconomics/Industrial Organization Seminar, sponsored by the Department of Economics with generous gifts given through the Jean Coven Speakers Fund in Economics and the Economics Strategic Fund.

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Workshop / Seminar Tue, 06 Feb 2024 14:13:01 -0500 2024-04-05T10:00:00-04:00 2024-04-05T11:20:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Liquid Markets: An Empirical Analysis of a Water Exchange
Intertemporal Hedging and Trade in Repeated Games with Recursive Utility (April 5, 2024 2:30pm) https://events.umich.edu/event/118222 118222-21840665@events.umich.edu Event Begins: Friday, April 5, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

Two key features distinguish the general class of recursive preferences from the standard model of dynamic choice: (i) agents may care about the intertemporal distribution of risk, and (ii) their rates of time preference, rather than being fixed, may vary with the level of consumption. We investigate what these features imply in the context of a repeated strategic interaction. First, we show that opportunities for intertemporal trade may expand the set of feasible payoffs relative to that in a static interaction. Two distinct sources for such trade are identified: endogenous heterogeneity in the players’ rates of time preference and a hedging motive pertaining to the intertemporal distribution of risk. The set of equilibrium payoffs may on the other hand shrink drastically as many efficient outcomes become unsustainable no matter the level of patience. This “antifolk” result occurs when the players prefer stage outcomes to be positively correlated rather than independent across time. Intuitively, such preferences make it inefficient to offset short-term losses with future gains, while this is needed to ensure that security levels are met on path. We also establish a folk theorem: if security levels are met on path, such play can be sustained in a subgame perfect equilibrium provided that the players are sufficiently patient.

This talk is presented by the Economic Theory Seminar, sponsored by the Department of Economics with generous gifts given through the Mark Harms Fund and the Economics Strategic Fund.

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Workshop / Seminar Fri, 01 Mar 2024 09:11:04 -0500 2024-04-05T14:30:00-04:00 2024-04-05T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Intertemporal Hedging and Trade in Repeated Games with Recursive Utility
Public Finance Seminar- April 8 (April 8, 2024 4:00pm) https://events.umich.edu/event/117367 117367-21839220@events.umich.edu Event Begins: Monday, April 8, 2024 4:00pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Public Finance Seminar, sponsored in part by the Department of Economics with generous gifts given through the Elizalde-Winikates Family Fund in Economics and the Economics Strategic Fund.

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Workshop / Seminar Tue, 06 Feb 2024 13:56:44 -0500 2024-04-08T16:00:00-04:00 2024-04-08T17:20:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Public Finance Seminar- April 8
Economic History Seminar- April 9 (joint with PEW) (April 9, 2024 2:30pm) https://events.umich.edu/event/118215 118215-21840655@events.umich.edu Event Begins: Tuesday, April 9, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Economic History Seminar, joint with the Political Ecology Workshop and sponsored by the Department of Economics with generous gifts given through the Harrison Metal Visiting Scholar Award Fund and the Economics Strategic Fund.

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Workshop / Seminar Tue, 06 Feb 2024 14:03:26 -0500 2024-04-09T14:30:00-04:00 2024-04-09T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Economic History Seminar- April 9 (joint with PEW)
International Economics Seminar- April 11 (April 11, 2024 11:30am) https://events.umich.edu/event/118959 118959-21841950@events.umich.edu Event Begins: Thursday, April 11, 2024 11:30am
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the International Economics Seminar, sponsored by the Department of Economics with generous gifts given through the Economics Strategic Fund.

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Workshop / Seminar Fri, 16 Feb 2024 10:01:19 -0500 2024-04-11T11:30:00-04:00 2024-04-11T12:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar International Economics Seminar- April 11
Bundling to save: Estimating package size choices in South African grocery stores (April 12, 2024 10:00am) https://events.umich.edu/event/118206 118206-21840647@events.umich.edu Event Begins: Friday, April 12, 2024 10:00am
Location: Lorch Hall
Organized By: Department of Economics Seminars

Storable goods such as laundry detergent come in different package sizes with different associated unit prices. Buying larger packages is an opportunity to save, but low-income consumers in African countries often appear to forego this opportunity and buy small packages instead. I investigate the determinants of these choices by estimating a model of dynamic consumer demand using scanner data from all stores of South Africa's leading grocery chain. The estimation accounts for “bundling”: due to temporary sales and non-linear pricing of the product, consumers sometimes find it less expensive to purchase multiple small packages instead of a large package. The results show that this phenomenon is quantitatively important in explaining observed patterns in the data. Counterfactual simulations use the model's findings to evaluate the impact of different package sizes, which is a relevant consideration for the current expansion of small-format chain stores to low-income areas.

This talk is presented by the Applied Microeconomics/Industrial Organization Seminar, sponsored by the Department of Economics with generous gifts given through the Jean Coven Speakers Fund in Economics and the Economics Strategic Fund.

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Workshop / Seminar Mon, 26 Feb 2024 09:41:05 -0500 2024-04-12T10:00:00-04:00 2024-04-12T11:20:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Bundling to save: Estimating package size choices in South African grocery stores
Economic Theory Seminar- April 12 (April 12, 2024 2:30pm) https://events.umich.edu/event/118223 118223-21840667@events.umich.edu Event Begins: Friday, April 12, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Economic Theory Seminar, sponsored by the Department of Economics with generous gifts given through the Mark Harms Fund and the Economics Strategic Fund.

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Workshop / Seminar Tue, 06 Feb 2024 14:14:46 -0500 2024-04-12T14:30:00-04:00 2024-04-12T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Economic Theory Seminar- April 12
Understanding Capital Gains Responses to Taxes Using Transaction-Level Data (April 15, 2024 4:00pm) https://events.umich.edu/event/117368 117368-21839221@events.umich.edu Event Begins: Monday, April 15, 2024 4:00pm
Location:
Organized By: Department of Economics Seminars

We study how individuals’ trading behavior responds to tax incentives using administrative transaction-level data on all taxable sales of broker-traded financial assets between 2011 and 2019. Our empirical design leverages a simple, salient, timing-based tax notch: in the U.S., assets held beyond one year qualify for a 10-20% reduction in capital gains rates. The size and granularity of the data allow us to study how this capital gains tax rate differentiation shapes individuals’ trading behaviors across narrowly defined demographic and income groups. We find that: (1) retiming responses around the tax rate notch are weak in general; (2) individuals make clear misoptimization errors by realizing gains just before the notch; and (3) this pattern can be explained by both heterogeneous capital gains responses by asset type combined with rigidities in individual trading styles. Finally, we use our empirical results to show theoretically that the weak deferral elasticities imply that a revenue-maximizing government would eliminate short- vs long-term tax differentiation.

This talk is presented by the Public Finance Seminar, sponsored in part by the Department of Economics with generous gifts given through the Elizalde-Winikates Family Fund in Economics and the Economics Strategic Fund.

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Workshop / Seminar Thu, 08 Feb 2024 14:23:43 -0500 2024-04-15T16:00:00-04:00 2024-04-15T17:20:00-04:00 Department of Economics Seminars Workshop / Seminar Understanding Capital Gains Responses to Taxes Using Transaction-Level Data
Property Rights for Whom? (April 16, 2024 2:30pm) https://events.umich.edu/event/118825 118825-21841773@events.umich.edu Event Begins: Tuesday, April 16, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Economic History Seminar, sponsored by the Department of Economics with generous gifts given through the Harrison Metal Visiting Scholar Award Fund and the Economics Strategic Fund.

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Workshop / Seminar Thu, 15 Feb 2024 14:54:44 -0500 2024-04-16T14:30:00-04:00 2024-04-16T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Economic History Seminar- April 16
ISR-Zwerdling Seminar in Labor Economics- April 17 (April 17, 2024 2:30pm) https://events.umich.edu/event/117982 117982-21840261@events.umich.edu Event Begins: Wednesday, April 17, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Labor Economics Seminar, sponsored in part by the Department of Economics with generous gifts given through the Abraham and Thelma Zwerdling Labor Economics Program.

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Workshop / Seminar Tue, 06 Feb 2024 14:04:29 -0500 2024-04-17T14:30:00-04:00 2024-04-17T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar ISR-Zwerdling Seminar in Labor Economics- April 17
Michael Beauregard Seminar in Macroeconomics- April 17 (April 17, 2024 2:30pm) https://events.umich.edu/event/117992 117992-21840311@events.umich.edu Event Begins: Wednesday, April 17, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Macroeconomics Seminar, sponsored by the Department of Economics with generous gifts given through the Michael Beauregard Fund for Macroeconomics and the Economics Strategic Fund.

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Workshop / Seminar Wed, 28 Feb 2024 11:52:47 -0500 2024-04-17T14:30:00-04:00 2024-04-17T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Michael Beauregard Seminar in Macroeconomics- April 17
Industrial Organization Seminar- April 19 (April 19, 2024 10:00am) https://events.umich.edu/event/118207 118207-21840648@events.umich.edu Event Begins: Friday, April 19, 2024 10:00am
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Applied Microeconomics/Industrial Organization Seminar, sponsored by the Department of Economics with generous gifts given through the Jean Coven Speakers Fund in Economics and the Economics Strategic Fund.

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Workshop / Seminar Tue, 06 Feb 2024 14:13:38 -0500 2024-04-19T10:00:00-04:00 2024-04-19T11:20:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Industrial Organization Seminar- April 19
Public Finance Seminar- April 22 (April 22, 2024 4:00pm) https://events.umich.edu/event/117369 117369-21839222@events.umich.edu Event Begins: Monday, April 22, 2024 4:00pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Public Finance Seminar, sponsored in part by the Department of Economics with generous gifts given through the Elizalde-Winikates Family Fund in Economics and the Economics Strategic Fund.

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Workshop / Seminar Tue, 06 Feb 2024 13:59:12 -0500 2024-04-22T16:00:00-04:00 2024-04-22T17:20:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Public Finance Seminar- April 22
ISR-Zwerdling Seminar in Labor Economics- April 24 (April 24, 2024 2:30pm) https://events.umich.edu/event/117983 117983-21840262@events.umich.edu Event Begins: Wednesday, April 24, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Labor Economics Seminar, sponsored in part by the Department of Economics with generous gifts given through the Abraham and Thelma Zwerdling Labor Economics Program.

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Workshop / Seminar Tue, 06 Feb 2024 14:04:44 -0500 2024-04-24T14:30:00-04:00 2024-04-24T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar ISR-Zwerdling Seminar in Labor Economics- April 24
Remote Work and City Structure (April 25, 2024 11:30am) https://events.umich.edu/event/118947 118947-21841928@events.umich.edu Event Begins: Thursday, April 25, 2024 11:30am
Location:
Organized By: Department of Economics Seminars

We study the adoption of remote work within cities and its effect on city structure and welfare. We develop a dynamic model of a city in which workers can decide to work in the central business district (CBD) or partly at home. Working in the CBD allows them to interact with other commuters, which enhances their productivity through a standard production externality, but entails commuting costs. Switching between modes of labor delivery is costly, and workers face idiosyncratic preference shocks for remote work. We characterize the parameter set in which the city exhibits multiple stationary equilibria. Within this set, a coordination mechanism can lead to stationary equilibria in which most workers commute or most of them work partially from home. In these cases, large shocks in the number of commuters, like the recent lockdowns and self-isolation generated by the COVID-19 pandemic, can result in dynamic paths that make cities converge to a stationary equilibrium with large fractions of remote workers. Using cell-phone-based mobility data for the U.S., we document that although most cities experienced similar reductions in CBD trips during the pandemic, trips in the largest cities have stabilized at levels that are only about 60% of pre-pandemic levels. In contrast, smaller cities have, on average, returned to pre-pandemic levels. House price panel data by city show consistent changes in house price CBD-distance gradients. We estimate the model for 270 U.S. cities and show that cities that have stabilized at a large fraction of remote work are much more likely to have parameters that result in multiple stationary equilibria. Our results imply welfare losses in these cities that average 2.7%.

This talk is presented by the International Economics Seminar, sponsored by the Department of Economics with generous gifts given through the Economics Strategic Fund.

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Workshop / Seminar Thu, 15 Feb 2024 15:35:17 -0500 2024-04-25T11:30:00-04:00 2024-04-25T12:50:00-04:00 Department of Economics Seminars Workshop / Seminar Remote Work and City Structure
Michael Beauregard Seminar in Macroeconomics- May 1 (May 1, 2024 2:30pm) https://events.umich.edu/event/117996 117996-21840333@events.umich.edu Event Begins: Wednesday, May 1, 2024 2:30pm
Location: Lorch Hall
Organized By: Department of Economics Seminars

This talk is presented by the Macroeconomics Seminar, sponsored by the Department of Economics with generous gifts given through the Michael Beauregard Fund for Macroeconomics and the Economics Strategic Fund.

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Workshop / Seminar Wed, 28 Feb 2024 11:53:14 -0500 2024-05-01T14:30:00-04:00 2024-05-01T15:50:00-04:00 Lorch Hall Department of Economics Seminars Workshop / Seminar Michael Beauregard Seminar in Macroeconomics- May 1