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X-WR-CALDESC:Events for CREST
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DTSTART:20220327T010000
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DTSTART:20221030T010000
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DTSTART;TZID=Europe/Helsinki:20221215T103000
DTEND;TZID=Europe/Helsinki:20221215T233000
DTSTAMP:20260718T231537
CREATED:20221202T055547Z
LAST-MODIFIED:20221202T055547Z
UID:14357-1671100200-1671147000@crest.science
SUMMARY:Christian GOURIEROUX (Univ. of Toronto\, TSE\, and CREST) "Structural Modelling of Dynamic Networks and Identifying Maximum Likelihood"
DESCRIPTION:The Financial Econometrics Seminar: \nTime: 10:30 pm\nDate: 15th of December 2022\nRoom 3001 \nChristian GOURIEROUX (Univ. of Toronto\, TSE\, and CREST) “Structural Modelling of Dynamic Networks and Identifying Maximum Likelihood” \nAbstract : This paper considers nonlinear dynamic models where the main parame-ter of interest is a nonnegative matrix characterizing the network (contagion) effects. This network matrix is usually constrained either by assuming a lim-ited number of nonzero elements (sparsity)\, or by considering a reduced rank approach for nonnegative matrix factorization (NMF). We follow the latter approach and develop a new probabilistic NMF method. We introduce a new Identifying Maximum Likelihood (IML) method for consistent estimation of the identified set of admissible NMF’s and derive its asymptotic distribution.\nMoreover\, we propose a maximum likelihood estimator of the parameter ma-trix for a given non-negative rank\, derive its asymptotic distribution and the associated efficiency bound. \nJoint work : Joan JASIAK (York University). \n  \nOrganizers:\n\nJean-Michel ZAKOIAN  (CREST) \nSponsors:\nCREST \n
URL:https://crest.science/event/christian-gourieroux-univ-of-toronto-tse-and-crest-structural-modelling-of-dynamic-networks-and-identifying-maximum-likelihood/
CATEGORIES:Finance-Insurance,Financial Econometrics
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DTSTART;TZID=Europe/Helsinki:20221215T113000
DTEND;TZID=Europe/Helsinki:20221215T123000
DTSTAMP:20260718T231537
CREATED:20221202T055232Z
LAST-MODIFIED:20221202T134357Z
UID:14356-1671103800-1671107400@crest.science
SUMMARY:Guillaume ROUSSELLET  (Mcgill University) "What do Bond Investors Learn from Macroeconomic News?
DESCRIPTION:The Financial Econometrics Seminar: \nTime: 11:30 pm\nDate: 15th of December 2022\nRoom 3001 \nGuillaume ROUSSELLET (Mcgill University) “What do Bond Investors Learn from Macroeconomic News?” \nAbstract : Macroeconomic data releases drive US bond yields primarily through the term premium instead of the expectation channel. The evidence exploits a monthly specification for yields embedding the impacts of news identified from high-frequency data. To match the facts\, we develop and calibrate a no-arbitrage model where investors use data releases with imperfect information to learn about future monetary policy. If macro news carry perfect information\, the model predicts that the bonds’ Sharpe ratio decreases and the term premium declines by half for every maturity\, suggesting that central bank’s communication can lower the term premium and financing costs across the economy. \nOrganizers:\n\nJean-Michel ZAKOIAN  (CREST) \nSponsors:\nCREST \n
URL:https://crest.science/event/guillaume-roussellet-mcgill-university-t-b-a/
CATEGORIES:Finance-Insurance,Financial Econometrics
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DTSTART;TZID=Europe/Helsinki:20221215T120000
DTEND;TZID=Europe/Helsinki:20221215T131500
DTSTAMP:20260718T231537
CREATED:20221125T122138Z
LAST-MODIFIED:20221214T052010Z
UID:14336-1671105600-1671110100@crest.science
SUMMARY:Gundula ZOCH (University of Oldenburg) « Motherhood penalties in job tasks ? Longitudinal evidence from Germany »
DESCRIPTION:Sociology Seminar: Thursdays\nTime: 12:00 pm – 1:15 pm – \nDate: 15th of December 2022\nPlace: ZOOM – https://zoom.us/j/96643235231?pwd=WHVUTVNTR2hKL0FtNWxhNU1Bc2xZdz09 \nGundula ZOCH (University of Oldenburg & LIfBi – Leibniz Institute for Educational Trajectories) « Motherhood penalties in job tasks ? Longitudinal evidence from Germany » \nAbstract : Women with children tend to earn less\, have lower status and fewer chances for career progression than childless women. Yet\, it remains unclear whether all women are influenced by the transition to motherhood in equal measure. The more to lose perspective suggests that highly educated women suffer a larger motherhood penalty than less educated women. Women with more education have higher returns to experience; child birth may hence cause larger decreases in skill use\, which is related to wages and career progression. Others expect fewer disadvantages following child birth for highly educated mothers because their privileges allow them to compensate for consequences of career disruptions. Empirical results thus far are mixed; one reason may be that most studies focus on the motherhood penalty in labor market outcomes such as wages and status. There is a lack of studies that directly assess variations by education in changes to mothers’ skill use. \nWe use data from the adult cohort of the German National Education Panel Study (NEPS-SC6\, 2008-2020) to examine the motherhood penalty in skill use. First\, we investigate whether skill use is affected by motherhood and whether these changes vary by mothers’ educational level. Second\, in order to scrutinize possible mechanisms\, we examine whether the penalty varies by interruption duration\, pre-birth careers and employment transition after re-entry. We therefore analyze repeated measures of work skill use that are based on the task approach presuming that skills can only be productive and rewarded if they are put to use. Disruptions to productivity caused by motherhood hence should be visible in changes in skill use. First results of fixed-effects models indicate a consistent negative impact of childbirth on mother’s skill use\, most pronounced for analytical\, manual\, and routine skills. Additional analyses suggest larger changes for mothers with lower levels of educational attainment and those with occupational change. Conversely\, tasks that are associated with new content\, problems or managerial skills increase sharply\, particularly for those with higher levels of education. \n  \nJoint work with : Wiebke Schulz (University of Bremen) \n  \nHadrien LE MER\, Etienne OLLION\, Patrick PRÄG (Pôle de Sociologie du CREST) \nSponsors :\nCREST \n
URL:https://crest.science/event/gundula-zoch-university-of-oldenburg-motherhood-penalties-in-job-tasks-longitudinal-evidence-from-germany-2/
CATEGORIES:Sociology
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