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DTSTART:20250330T010000
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DTSTART;TZID=Europe/Helsinki:20251127T100000
DTEND;TZID=Europe/Helsinki:20251127T230000
DTSTAMP:20260710T134713
CREATED:20251104T080303Z
LAST-MODIFIED:20251104T080303Z
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SUMMARY:Armon REZAI (Institute for Political Economy of Public Policy ) "Intergenerational welfare effects of emissions targets in small open economies"
DESCRIPTION:Quantitative Sustainable Economics and Finance \nTime: 10.00 am\nDate:27th of November 2025\nRoom 3001 \nArmon REZAI (Institute for Political Economy of Public Policy ) “Intergenerational welfare effects of emissions targets in small open economies” \nAbstract : A small open economy model with overlapping generations\, endogenous labour supply\, government debt\, and current account dynamics is formulated to analyse the effects of a cap on cumulative emissions on intergenerational welfare and macroeconomic outcomes. First\, we contrast implementation of the cap via a constant carbon price with a Hotelling rule for the carbon price when revenue is fully rebated. Second\, the potential role of government debt is analysed for these two policy options. Third\, the importance of judicially rebating carbon tax revenue in the presence of a distortionary on labour income is analysed. In all cases\, the effects on intergenerational welfare\, employment\, capital flight\, and the current account are highlighted. \nJoint work : Frederick Van Der Ploeg \nOrganizers:  Patricia Crifo\, Emmanuel Gobet\, Peter Tankov\, Gauthier Vermandel\, and Olivier David Zerbib \nSponsors:\nCREST-CMAP \n
URL:https://crest.science/event/armon-rezai-institute-for-political-economy-of-public-policy-intergenerational-welfare-effects-of-emissions-targets-in-small-open-economies/
CATEGORIES:Finance-Insurance,Quantitative Sustainable Economics and Finance,Seminars
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DTSTART;TZID=Europe/Helsinki:20251127T110000
DTEND;TZID=Europe/Helsinki:20251127T120000
DTSTAMP:20260710T134713
CREATED:20251121T080713Z
LAST-MODIFIED:20251121T080713Z
UID:18540-1764241200-1764244800@crest.science
SUMMARY:Hens THORSTEN (UZH ) "Shareholder Engagement in an ESG-CAPM with Incomplete Markets: Much ado about nothing?"
DESCRIPTION:Quantitative Sustainable Economics and Finance \nTime: 11.00 am\nDate:27th of November 2025\nRoom 3001 \nHens THORSTEN (UZH ) “Shareholder Engagement in an ESG-CAPM with Incomplete Markets: Much ado about nothing?” \nAbstract : We give a general equilibrium model of incomplete asset markets in which investors care not only about risk and returns but also ESG consequences. On the firm’s objective\, we consider two notions of equilibrium\, a market value maximization equilibrium and a Dreze criterion maximization equilibrium. The market value is calculated under the representative investor’s utility gradient\, while the Dreze criterion is calculated under the weight average of the shareholders’ utility gradients\, where the weights are proportional to shareholdings. In a Dreze criterion maximization equilibrium shareholders express their views on the decision of the firm. Thus\, we interpret it as an equilibrium with shareholder engagement\, and take the difference in social welfare between the two equilibria as the consequence of shareholder engagement. We establish the existence of these equilibria. We give an equivalent condition for the two to coincide\, which means that shareholder engagement makes no difference in social welfare. We show\, moreover\, that the difference in social welfare between the Dreze and the market value equilibrium is positive but at most of second order\, hence negligible\, in a sense that can be made precise \nOrganizers:  Patricia Crifo\, Emmanuel Gobet\, Peter Tankov\, Gauthier Vermandel\, and Olivier David Zerbib \nSponsors:\nCREST-CMAP \n
URL:https://crest.science/event/hens-thorsten-uzh-shareholder-engagement-in-an-esg-capm-with-incomplete-markets-much-ado-about-nothing/
CATEGORIES:Finance-Insurance,Quantitative Sustainable Economics and Finance,Seminars
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DTSTART;TZID=Europe/Helsinki:20251127T120000
DTEND;TZID=Europe/Helsinki:20251127T133000
DTSTAMP:20260710T134713
CREATED:20250903T085813Z
LAST-MODIFIED:20251127T103048Z
UID:18321-1764244800-1764250200@crest.science
SUMMARY:Oscar STUHLER (Northwestern University) - "Agency Expressions in Organizational Communication"
DESCRIPTION:Sociology Seminar \nTime: :12:00 pm – 13:30 pm \nDate: 27th of November\nRoom : 3049 \n  \nOscar STUHLER (Northwestern University) – “Coordinating futures in organizational communication” \n  \nAbstract :  \n“Future projections are critical devices for the coordination of organizational action. Yet while scholars have studied high-level\, institutionalized forms of planning (five-year plans\, strategic visions\, R&D roadmaps\, decarbonization targets)\, little attention has been paid to how individuals project futures to construct social order in everyday interaction. Building on theories of temporality and action\, this paper presents the first systematic empirical analysis of how futures are coordinated in inner-organizational communication. We introduce a novel computational framework for detecting and interpreting temporal expressions. This allows us to measure the future horizons expressed in 17 million internal messages exchanged in a mid-sized non-profit organization. Our analysis first maps out core distributional properties of future horizons\, finding that they are heavily right-skewed (with a mean and median of 51 and 4.2 days\, respectively). We then investigate four structuring principles of horizons: First\, organizational rhythms dictate contractions and expansions in horizons. Second\, individuals differ in how far they typically project into the future\, with senior leaders having longer-term horizons. Third\, networks structure horizons\, with hierarchical and personal communication being prone to constructing shorter-term futures. Fourth\, events\, at both the individual and organizational levels\, provoke shifts in individuals’ future horizons. By uncovering these principles\, our study lays empirical foundations for the study of how futures are coordinated in organizations..” \nLien Zoom : https://zoom.us/j/97795024459?pwd=eejToJkXjUiBsa6kWUF19mlbVe7GLz.1 \n  \nOrganizers:\nPaola TUBARO (Pôle sociologie CREST) \nPatrick PRÄG (Pôle sociologie CREST) \nJulia NICOLAS  (Pôle sociologie CREST) \nSponsors:\nCREST \n
URL:https://crest.science/event/https-oscarstuhler-org/
CATEGORIES:Seminars,Sociology
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