10 11 12lacealames2016.eafit.edu.co/Documents/book-lacea-lames-2016.pdf · 2 WELCOME We are very...

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WELCOMEWe are very pleased and honored to welcome you to the Annual

Meetings of the Latin American and Caribbean Economic Association

(LACEA) and the Latin American Meetings of the Econometric Society

(LAMES)!. Universidad EAFIT and the Banco de la República de

Colombia are proud to open their doors to the international experts

that will join us for the different events that are part of these important

meetings. We have been always interested in fostering the generation

of knowledge in a broad range of economics fields, and that is why this

is the second time, after the 2010 LACEA meeting, that Universidad

EAFIT and the Banco de la República de Colombia join efforts to

organize this important conference.

We have more than 360 contributed papers and over

100 invited papers covering all areas of economics. We are very

glad to have this year some of the most renowned economists of

the world, including two Nobel Laureates, Professor Finn E. Kydland

and Professor Edmund S. Phelps. Several other leading economists

such as Orazio Attanasio, Abhijit Banerjee, Andrew Chesher, Eddie

Dekel, Esther Duflo, Ricardo Haussman, Matthew O. Jackson, Larry

Samuelson, and Elie Tamer who along with many other participants,

are bringing to the conference the frontier developments in their fields.

We would also like to congratulate Professor Orazio Attanasio who is

being awarded this year the Diaz-Alejandro Prize.

We are sure that the academic work presented this year at

the meetings, and the participation of policy makers and representatives

from different multilateral organizations, will set an ideal environment

not only for providing new insights to your academic work, but also for

bridging it to policy relevant applications.

We would like to thank Eduardo Lora, President of LACEA,

Eddie Dekel, President of the Econometric Society and Eduardo Engel,

Chair of the Latin American Standing Committee of the Econometric

Juan Luis Mejía ArangoPresidentUniversidad EAFIT

José Darío Uribe EscobarGovernorBanco de la República de Colombia

Society, as well as, to the members of the Executive Committees of

both associations, for inviting us to organize the meetings this year.

In addition, our special recognition to Alejandro Piedrahita Borrero,

president of the LACEA-LAMES 2016 executive committee, Juan

Felipe Mejia Mejia Dean of the School of Economics and Finance of

Universidad EAFIT, Carlos Alberto Medina Durango Regional Manager

of Banco de la República de Colombia, Carlos Enrique Piedrahita

Arocha, Professor, Universidad EAFIT and Gustavo Canavire-

Bacarreza, Director of the Center for Research on Economics and

Finance (CIEF), who led the work teams that made the meetings

possible for you, distinguished visitors.

Our gratitude also goes to Gustavo Canavire Bacarreza

and Carlos Medina (Program Chairs of LACEA), and Myrna Wooders

(Vanderbilt University), Sergio Firpo (Insper), and Gustavo Canavire

Bacarreza (Program Chairs of LAMES), and all members of both

Program Committees, that worked diligently on the selection of

more than 1300 submissions of the highest scientific quality. We

cannot forget to thank the members of the Logistics Committee, Lina

Cardona Sosa (Banco de la República de Colombia), Catalina Gómez

Toro, Andrés Mora Cuartas, Natalia Ortiz Gómez and Alejandro

Torres Garcia (Universidad EAFIT) for their excellent support, and

acknowledge Universidad EAFIT and the Banco de la República de

Colombia administrative staff and the students who helped us in

coordinating every detail so that LACEA LAMES 2016 is a pleasant

meeting. Finally, a special mention should be made to our sponsors.

They joined this collaborative work that allows us to hold this important

event in Medellin and enjoy both the activities of the Meeting and the

city.

Welcome! It is now time to start enjoying LACEA-LAMES 2016!

Make yourself at home in the city of eternal spring!

Unidad de Vida Articulada (UVA)del Barrio Versalles(Manrique)

Photo: Robinson Henao

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FOREWORDIt truly is an honor for us to welcome the nearly 800 visitors who

will attend the annual meetings of the Latin American and Caribbean

Economic Association (LACEA), and the Latin American Meetings of

the Econometric Society (LAMES). It is also an honor that challenges

us as a University and as a city.

An important selection of lectures of the highest quality is

presented in this program. A significant number of academic activities

have been scheduled, in which professor Finn Kydland; and professor

Edmund Phelps, Nobel Price Laureates 2004 and 2006, respectively, will

take part. In addition, these meetings will be a valuable opportunity that

will allow us to interact with foreign colleagues, the people from Medellin

and the Universidad EAFIT community. It will also be a chance to visit

some of the many interesting places Medellín has to offer, such as the

Museum of Modern Art (MAMM) or the Orquideorama (orchid theatre) in

the Botanical Garden, where some of the social events will take place.

Hosting this event again six years after the LACEA 2010 Annual

Meetings is a vote of confidence that reflects the development and

growth promoted by our university, our city and our country.

Make yourself at home and please do not hesitate to

approach our logistics staff to answer any of your questions. They will

be ready to provide you with timely solutions.

I honestly hope that your participation in LACEA LAMES

2016 will be pleasant and enriching.

Juan Felipe Mejía MejíaDeanSchool of Economics and Finance Universidad EAFITConference Chairman LACEA – LAMES 2016


CONTENTS3568

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WelcomeForeword ContentsOrganizing Committee

Local organizing committee

Program CommitteeLACEA Program committee LAMES Program committee

Organizing Institutions Banco de la RepúblicaEscuela de Economía y Finanzas Universidad EAFITCenter or research on Economics and Finance (CIEF)

Latin American and Caribbean Economic Association (LACEA) and The Econometric Society (LAMES)

Latin American and Caribbean Economic AssociationThe Econometric Society

Past meetings SponsorsGeneral informationMapParallel Events

Econometric Society Conference on the Economics of Networks Latin American and Caribbean Economic Association New Latin American Economic History Network

Keynote SpeakersConference Program

Photo: Juan Carlos Tinjaca / Shutterstock.com

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ORGANIZING COMMITTEELOCAL ORGANIZING COMMITTEE

CONFERENCE CHAIRMANJuan Felipe Mejía Mejía Dean of the School of Economics and Finance, Universidad EAFIT LACEA LAMES 2016 EXECUTIVE COMMITTEEAlejandro Piedrahíta Borrero, CFO, Grupo Argos

Juan Luis Mejía Arango President, Universidad EAFIT

Carlos Enrique Piedrahita Arocha Professor, Universidad EAFIT

Juan Felipe Mejía Mejía Dean of the School of Economics and Finance, Universidad EAFIT

Carlos Medina Manager, Banco de la República de Colombia, Medellín Branch

LOGISTICS COMMITTEECatalina Gómez Toro Universidad EAFIT

Andrés Mora Cuartas Universidad EAFIT

Natalia Ortiz GómezUniversidad EAFIT

Maria Paola Roldán Universidad EAFIT

Alejandro Torres Garcia Universidad EAFIT

Lina Marcela Cardona Sosa Banco de la República de Colombia Lina GranadosGrupo Logístico

PROGRAM COMMITTEELACEA PROGRAM COMMITTEE

CO-CHAIRSGustavo Canavire-Bacarreza, Universidad EAFIT

Carlos Medina, Manager, Banco de la República de Colombia,

Medellín Branch

PROGRAM COMMITTEE Sebastian Acevedo, International Monetary Fund

Achyuta Adhvaryu, University of Michigan

Diego A. Agudelo, Universidad EAFIT

Laura Alfaro, Harvard University

Kartik B. Athreya, Federal Reserve Bank of Richmond

Juan David Barón, The World Bank

Felipe Barrera-Osorio, Harvard University

Jorge Barrientos Marín, Universidad de Antioquia

Samuel Berlinski, Inter-American Development Bank

Eric Bettinger, Stanford University

Prashant Bharadwaj, UC San Diego

Hoyt Bleakley, University of Michigan

Jaime Bonet, Banco de la República de Colombia

Mariano Bosh, Inter-American Development Bank

Irene Brambilla, Universidad Nacional de La Plata

Theodore Breton, Universidad EAFIT

Oscar Calvo-Gonzalez, The World Bank

Juan Camilo Cardenas, Universidad de Los Andes

Lina Cardona Sosa, Banco de la República de Colombia

Juan Esteban Carranza, Banco de la República de Colombia

Andrés Carvajal, University of California, Davis

Matias Cattaneo, University of Michigan

Juan Camilo Chaparro, University of Minnesota

Laura Chioda, The World Bank

Tommaso Ciarli, University of Sussex

Patricia Cortés, Boston University

Ana Diaz, Pontificia Universidad Javeriana

Rafael DiTella, Harvard University

Andrew Dustan, Vanderbilt University

Federico Echenique, California Institute of Technology

Sebastián Edwards, University of California, Los Angeles

Raquel Fernández, New York University

Claudio Ferraz, PUC-Rio de Janeiro

María Marta Ferreyra, The World Bank

Christopher Flinn, New York University

Juan Miguel Gallego, Universidad del Rosario

Camilo García Jimeno, University of Pennsylvania

John Jairo Garcia, Universidad EAFIT

Thomas Goda, Universidad EAFIT

Wilman Gómez, Universidad de Antioquia

Alexander Gotthard, Pontificia Universidad Javeriana

Franz Hamann, Banco de la República de Colombia

Rema Hanna, JFK School of Government, Harvard University

Gonzalo Hernández, Pontificia Universidad Javeriana

Marc Herny, Penn State University

John Kennan, University of Wisconsin

Sonya Krutikova, Institute for Fiscal Studies

Maurice Kugler, IMPAQ International

Daniel Lederman, The World Bank

Eduardo Levy-Yeyati, Harvard University

Jean-Paul L’Hullier, Einaudi Institute for Economics and Finance

Carlos Machicado, Instituto de Estudios Avanzados en

Desarrollo (INESAD)

Federico Mandelman, Federal Reserve Bank of Atlanta

Sebastian Martinez, Inter-American Development Bank

Jorge Martinez-Vazquez, Georgia State University

Rosa Liliana Matzkin, University of California, Los Angeles (UCLA)

Costas Meghir, Yale University

Juan Felipe Mejia-Mejia, Universidad EAFIT

Angel Melguizo, OECD

Mieke Meurs, American University

Leonardo Morales, Banco de la República de Colombia

Andres Neumeyer, Banco Central de Argentina

Hugo Ñopo, GRADE

Daniel Ortega, CAF-Development Bank of Latin Ameri-

ca-Development Bank of Latin America


Monica Ospina, Universidad EAFIT

Ugo Panizza, The Graduate Institute

Ricardo Perez-Truglia, University of California, Los Angeles

Jennifer Poole, American University

Christian Posso, Banco de la República de Colombia

Andrew Powell, Inter-American Development Bank

Paulina Restrepo-Echavarria, Federal Reserve Bank of St Louis

Felix Rioja, Georgia State University

Fernando Rios-Avila, Levy Institute

Juan Rubio-Ramirez, Emory University

Isabel Ruíz, Oxford University

Juan Esteban Saavedra, University of Southern California

Pedro Silos, Temple University

Emmanuel Skoufias, The World Bank

Gustavo Suárez, Federal Reserve Board

Mery Tamayo, Universidad EAFIT

César E. Tamayo, Inter-American Development Bank

Rusty Tchernis, Georgia State University

Erdal Tekin, American University

Alejandro Torres García, Universidad EAFIT

Miguel Urquiola, Columbia University

Sergio Urzúa, University of Maryland

Juan Fernando Vargas, CAF-Development Bank of Latin Ameri-

ca-Development Bank of Latin America

Rodrigo Velez, Texas A&M University

Gustavo Ventura, Arizona State University

Marcos Vera, University College London

Diego Vilán, Federal Reserve Board

LAMES PROGRAM COMMITTEE

CO-CHAIRSMyrna Wooders, Vanderbilt University

Sergio Firpo, Insper

Gustavo Canavire-Bacarreza, Universidad EAFIT

PROGRAM COMMITTEERabah Amir, University of Iowa

Sebastien Van Bellegen, Universite catholique de Louvain

(CORE)

Marc Bellemare, University of Minnesota

Raquel Bernal, Universidad de Los Andes

Dan Bernhardt, University of Illinois and University of

Warwick

Carmen Beviá, Universidad de Alicante

Prashant Bharadwaj, UC San Diego

Hoyt Bleakley, University of Michigan

Stephane Bonhomme, The University of Chicago

Marco Bonomo, Insper

Fernando Borraz, Banco Central del Uruguay

Sebastian Calonico, University of Miami

Paul Carrillo, George Washington University

Edward Cartwright Cartwright, University of Kent

Carlos V. de Carvalho, Central bank of Brazil PUC-Rio

Matias Cattaneo, University of Michigan

Xiaohong Chen, Yale University

Andrew Chesher, University College London

Bernard Cornet, Paris School of Economics and University of Kansas

Carlos Eugenio da Costa, Fundação Getulio Vargas

German Cubas, University of Houston

Amrita Dhillon, King’s College London

Rafael Dix-carneiro, Duke University

Juan Dubra, University of Montevideo

Juan Carlos Duque, Universidad EAFIT

Christopher Ellis, University of Oregon

Eduardo Engel, Universidad de Chile Juan Carlos Escanciano, Indiana University

Marcela Eslava, Universidad de Los Andes

Emilio Espino, Universidad Torquato Di Tella

Fernanda Estevan, Universidade de São Paulo,

Claudio Ferraz, Pontificia Universidade Católica do Rio de Janeiro

Nicolás Figueroa, Pontificia Universidad Católica de Chile

Francisco Gallego, Pontificia Universidad Católica de Chile

John Gibson, Georgia State University

Alexander Gotthard, Pontificia Universidad Javeriana

Marc Herny, Penn State

Gonzalo Hernandez, Pontificia Universidad Javeriana

Kim Huyin, Bank of Canada

João Victor Issler, Fundaçao Getulio Vargas

David Jacho-Chavez, Emory University

Jhon Kennan, University of Wisconsin

Dan Kovenock, Economic Science Institute, Chapman University

Subal Kumbhakar, State University of New York at Binghamton

Jeanne Lafortune, Pontificia Universidad Católica de Chile

Carlos Lamarche Gatton, University of Kentucky

Arthur Lewbel, Boston College

Tong Li, Vanderbilt University

Oliver Linton, University of Cambridge

Ignacio Lobato, Instituto Tecnológico Autónomo de México

Cecilia Machado, EPGE- Fundaçao Getulio Vargas

César Martinelli, George Mason University

Carlos Medina, Banco de la República

Juan Felipe Mejia-Mejia, Universidad EAFIT

Flavio Menezes, University of Queensland Juan Jose Miranda, The World Bank

Juan-Pablo Montero, Pontificia Universidad Católica de Chile

Marcelo Moreira, FGV/EPGE

Humberto Moreira, Fundaçao Getulio Vargas

Jesus Otero, Universidad del Rosario

Chris Parmeter, University of Miami

Andrés Ramírez-Hassan, Universidad EAFIT

Tomas Rau, Pontificia Universidad Católica de Chile

Diego Restrepo, Universidad EAFIT

Agnieszka Rusinowska, Paris School of Economics

Rodrigo Soares, Sao Paulo School of Economics-FGV

Biagio Speciale, Paris School of Economics

Xun Tang, Rice University, Department of Economics

Jose Tessada, Pontificia Universidad Católica de Chile

Rocio Titiunik, University of Michigan

Carlos Urrutia, Intituto Tecnólógio Autónomo de México

Anne van den Nouweland, University of Oregon

Cuong Le Van, Paris School of Economics

Michael Weber, University of Chicago



BANCO DE LA REPÚBLICA DE COLOMBIAThe Banco de la República is an entity established as the Central Bank of Colombia

on the 25th of July 1923 by means of Law 25. The 1991 Colombian Constitution

gave it administrative, patrimonial and technical autonomy, and assigned it the

precept of preserving the internal value of the national currency and ensuring

stable output growth near its long-term trend. The Board of Directors of Banco

de la República (BDBR) was established as the main authority of the country for

monetary, foreign exchange and credit policies. Monetary policy in Colombia is

based on inflation targeting, by announcing inflation targets for the current year

and the next. BDBR policy initiatives are designed to meet each year’s target and

to provide for long-term inflation at around 3.0%. The Banco de la República,

in addition to guaranteeing the issue, circulation and regulation of the national

currency, regulates the foreign exchange, the country’s credit and international

reserves. It is also the lender of last resort, the bank of credit institutions, and fiscal

agent for the government. Finally, the Banco de la República has been an important

agent of the country’s cultural activity.

The generation of academic knowledge is actively promoted at Banco de

la República. Different areas, in different cities of the country, produce research on

a broad range of topics: financial, monetary and exchange markets, international

economics, industrial organization, economic development, growth, labor markets,

labor economics, regional economics, etc. Today, the Bank has a Research Unit in

Bogotá, a Center of Regional Economic Studies (CEER) in Cartagena, a Regional

Division of Labor and Applied Microeconomic Studies in Medellín, and the Center of

Studies on Industrial Organization and International Economics (CEEII) in Cali. By 2016,

the Bank was ranked fifth (second) among all institutions in South America according

to RePec, and it was the first (first) Colombian institution in that ranking (W. Rank).

SCHOOL OF ECONOMICS AND FINANCE OF EAFIT UNIVERSITY The School of Economics and Finance of EAFIT University includes the

Departments of Economics and Finance. They serve the undergraduate

program in Economics, Specializations in Finance and Management of Small

and Medium Enterprises (SMEs) and Masters programs in Economics,

Finance, and Financial Administration.

The School seeks to offer under-graduate and graduate programs that

are recognized nationally and internationally for the academic excellence of their

professors and researchers. The school participates actively in governmental

policy-making and in public discussions within Colombia related to economic

and financial topics.

As stated by the Dean of the School of Finance and Economics, Dr.

Juan Felipe Mejía, economics and finance have an academic connection because

while economics is a social science that studies production, distribution and the

consumption of goods and services, finance is the branch of economics that

studies monetary management, credit, banking, and investment. The two subjects

are connected from both an academic and a thematic point of view. As examples,

there are many similarities in the quantitative methods utilized, in the subjects

analyzed, in the common lines of research, and additionally, in the literature, where

there are international publications (journals) of Economics and Finance.

ORGANIZING INSTITUTIONS

Bogotá Gold Museum at the Banco de la República de ColombiaPhoto: posztos / Shutterstock.com

School of Economics and Finance. Building 26 EAFITPhoto: Robinson Henao


THE CENTER FOR RESEARCH ON ECONOMICS AND FINANCE

LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION

The Center for Research on Economics and Finance (CIEF) is fed from

the scientific production of the Department of Economics and Finance,

and comprises three very important research groups. The Economics and

Firm Group conducts research in the areas of macroeconomic analysis,

economic conditions, public sector economics, and education economics,

labor economics, impact evaluation, industrial organization and economic

regulation. The Research in Spatial Economics (RISE) group leads research

in spatial economics, urban economics, and development of quantitative

methods for spatial analysis, georeferencing and spatial econometrics.

Finally, the Finance and Banking group performs research in corporate

finance, financial engineering, financial markets, microfinance, firm valuation

and derivatives, risk and investment management.

In addition to having a great support from the University, the center

is underpinned by several institutions that foster scientific production.

The Center for Research on Economics and Finance (CIEF), within the

Universidad EAFIT’s internationalization goals framework, contributes to

the positioning of the university through agreements with universities from

abroad as well as with various international organizations. Likewise, CIEF’s

researchers have lectured in international conferences such as the American

Economic Association Conference, Latin American and Caribbean Economic

Association Conference or the World Finance Conference among others and

in internal and external seminars. The researchers’ scientific production can

be found in working papers, as well as in national and international scientific

journals. Aiming at expanding knowledge, not only for Universidad EAFIT

researchers but also researchers in general, the CIEF publishes the “Ecos de

Economía” a Latin American Journal of Applied.

The Latin American and Caribbean Economic Association

was founded in July 1992, to encourage greater professional

interaction and foster increased dialogue among researchers

and practitioners whose work focuses on the economies of

Latin America and the Caribbean. Since its inception LACEA has

grown to an organization with an annual average of 1000 active

members. Starting from 1996, the association has held annual

meetings in Mexico City, Bogotá, Buenos Aires, Santiago, Rio de

Janeiro, Montevideo, Madrid, Puebla, San José Costa Rica and

Paris. Beginning in 2006, these meetings have been organized

jointly with the Latin American Chapter of the Econometric

Society (LAMES). LACEA is also part of the Allied Social Sciences

Association (ASSA).

To help promote the interaction of young and seasoned

economists, as well as social scientists and development

practitioners, LACEA also sponsors eight research networks: the

Network on Inequality and Poverty (NIP); the Political Economy

Group (PEG); the Trade, Integration and Growth Network

(TIGN); the Impact Evaluation Network (IEN); the Workshop on

LATIN AMERICANAND CARIBBEAN ECONOMIC ASSOCIATION AND THE ECONOMETRIC SOCIETY

International Economics and Finance (IE&F); the America Latina

Crime and Policy Network (AL CAPONE), the Labor Network (LN);

and since July 2016 the Economic History Network (EH). Besides

from 2001 to 2009 LACEA sponsored the Regional Integration

Network (RIN). Also, since 2000, LACEA has been publishing its

own Journal Economic, that has recently released its thirty-third

(33rd) issue. The journal has consistently published articles from

some of the world’s leading economists, as well as from many of

today’s rising Latin American economists.

LACEA has increasingly evolved to a funding allocation

on the basis of a competitive process, under which funds are

allocated to the various activities based both on quality standards

and capacity-building criteria. LACEA funding has been used to

reach out to minorities, and economists of under-represented

countries of Latin America and the Caribbean, as well as to bring

policy-makers closer to the association’s activities.

More information about LACEA’s history, bylaws, activities, and

membership can be found at www.lacea.org


LACEA COMMITTEE

2016 OFFICERS

EXECUTIVE COMMITTEE

2016 MEMBERS

PresidentEduardo LoraVice-PresidentSantiago Levy

Eduardo Engel, Universidad de Chile, Chair João Victor Issler,Getulio Vargas Foundation, Secretary Marilda Sotomayor, Universidade de São Paulo, Past Chair of the Regional Standing Committee Denisard Alves,Past Chair LAMES-LACEA, Universidade de São Paulo, São Paulo Humberto Moreira, Past LAMES Program Co-Chair, Universidade de São Paulo, São Paulo Rafael Costa Lima,Past LAMES Program Co-Chair, Universidade de São Paulo, São Paulo

Adriana KuglerEric VerhoogenFrancisco GallegoClaudia MartínezClaudio FerrazIrene BrambillaLaura AlfaroMarcela EslavaMiguel UrquiolaRaquel BernalSergio UrzúaSuzanne Duryea

SecretariatFedesarrollo

SecretaryAna María Diaz

TreasurerSergio Schmukler

THE ECONOMETRIC SOCIETYRagnar Frisch is at the origin of the Econometric Society. He organized

a group of like-minded economists who wanted to promote “economic

theory in its relation to statistics and mathematics.” Joseph Schumpeter

chaired the December 1930 meeting which founded the Econometric

Society and elected Irving Fisher as its first President. The first

annual meeting of the Econometric Society took place in Lausanne in

September 1931. After Alfred Cowles offered funding for a journal, the

Society launched Econometrica in 1933, with Ragnar Frisch as its Editor.

Econometrica is now one of the “top five” journals in economics.

In 2009, the Society decided to publish two open-access

journals, Theoretical Economics and Quantitative Economics.

The Society now has more than 5,000 individual members.

It organizes annual scientific meetings in six regions: Africa, Asia,

Australasia, Europe, Latin America and North America; as well as a

World Congress every five years.

PAST MEETINGS

SPONSORS

YEAR LOCATION HOST INSTITUTION

1996 Ciudad de México, México Instituto Tecnológico Autónomo de México (ITAM)

1997 Bogotá, Colombia Fedesarrollo and Universidad de los Andes

1998 Buenos Aires, Argentina Universidad Torcuato Di Tella

1999 Santiago, Chile Pontificia Universidad Católica de Chile and Universidad de Chile

2000 Río de Janeiro, Brazil Pontificia Universidad Católica de Río de Janeiro

2001 Montevideo, Uruguay Ceres Universidad ORT

2002 Madrid, España Centro de Estudios Monetarios y Financieros

2003 Puebla, México Universidad de las Américas

2004 San José, Costa Rica Universidad de Costa Rica INCAE

2005 Paris, France The American University in Paris

2006 Ciudad de México, México Instituto Tecnológico Autónomo de México (ITAM)

2007 Bogotá, Colombia Fedesarrollo and Universidad de los Andes

2008 Río de Janeiro, Brazil Fundação Getulio Vargas

2009 Buenos Aires, Argentina Universidad Torcuato Di Tella

2010 Medellín, Colombia Banco de la República, Centro de Pensamiento, Universidad EAFIT and Universidad de Antioquía

2011 Santiago, Chile Universidad Adolfo Ibáñez

2012 Lima, Perú Universidad del Pacífico

2013 Ciudad de México, México El Colegio de México A.C

2014 São Paulo, Brazil Universidad de São Paulo

2015 Santa Cruz, Bolivia Sociedad Economistas de Bolivia, INESAD

PERMANENT SPONSORSInter-American Development Bank

CAF-Development Bank of Latin America-

Development Bank of Latin America

World Bank Group

Bank of International Settlements

International Monetary Fund

Banco de España

Fondo Latinoamericano de Reservas

Banco Central de Chile

PLATINUM SPONSORSComfama

Grupo Bancolombia

ALLIESAci Medellín (Agencia de Cooperación e

Inversión de Medellín y el Área Metropolitana)

Alcaldía de Medellín

Cámara de Comercio de Medellín para

Antioquia

SPONSORSAlcaldía de Rionegro

Consejo Nacional Profesional de Economía

Fundación Éxito

Isagen

Universidad del Rosario

Avianca

Muma

Matiz

Sociedad colombiana de Orquideología

RIDGE

Bernardo Guimarães, FGV Sao Paulo [2016] Raquel Bernal,Universidad de los Andes [2016] Sergio Firpo, INSPER [2016] Juan Pablo Montero, Universidad Católica, Chile [2016] César Martinelli, Instituto Tecnológico Autónomo de México [2016] Carlos Urrutia,Intituto Tecnólógio Autónomo de México, [2016] Francisco Gallego Universidad Católica,Chile [2017],Joao Victor Issler,Fundaçao Getulio Vargas, [2017] Emilio Espino, Universidad Torcuato Di Tella [2017] Nicolas Figueroa, Universidad Católica, Chile, [2018] Ignacio Lobato, Instituto Tecnológico Autónomo de México [2019] Marcelo Moreira, Getulio Vargas Foundation, [2019]

LATIN AMERICAN STANDING

COMMITTEE

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GENERAL INFORMATION Colombia, the host country

Colombia offers unique and authentic travel experiences, magical and unforgettable experiences, tourists from all over the world are beginning to discover Colombia in its fullness, Colombia is well connected to the international community with over 900 flights per week, impressive mountains, beautiful villages, walls, castles, colonial squares and places inspired by flowers which are transformed into perfect settings full of magic realism.

LOCATIONMedellin, is the second-largest city in Colombia and the capital of the

state of Antioquia, the home of colorful flowers and exquisite tropical

fruits. It is surrounded by mountains with wonderful yearlong spring

weather with an average temperature ranging from 18 to 28 Celsius

(64 to 82 degrees Fahrenheit).

Medellin has undergone a cultural, social, and economic

transformation in recent years that led to this bustling metropolis being

chosen, for example, as the host city for the World Urban Forum and

the 4th World Bike Forum in 2014 and 2015, respectively.

The Medellin metropolitan area, which comprises 10

municipalities located in the Aburra Valley, 15 currently home

to roughly 3,800,000 people. This urban conglomerate in

northwestern Colombia (nestled amid the Andes’ Cordillera Central

range) hosts world-class events such as the Flower Festival, the

international Poetry Festival, the Medellin Book and Culture Festival,

Colombiamoda, and Colombiatex. The city is a permanent invitation

to delight in the diverse local, national, and international cuisine; and

exceptional hotels in three sectors.

INFORMATION DESKThe information Desk is located in front of the Auditorio Fundadores

It will be open throughout the conference from 8:00 to 19:30

If you need help or any assistance, please visit us there.

ACCESS TO THE CONFERENCEConference participants are required to show their badges at all times

in order to have access to the university, the conference rooms, lunch,

and social events.

SOCIAL EVENTSWelcome CocktailNovember 09, 19:00 – 21:00Centro de Artes, Universidad EAFIT

Opening ReceptionNovember 10, 19:00 – 21:00

Museo de Arte Moderno

LACEA LAMES Colombian DinnerNovember 11, 20:00 – 12:00

Jardín Botánico, Orquideorama

MEDICAL ASSISTANCE, HOSPITALSPlease contact the information desk if you need medical assistance

during the conference hours.

LUNCH AND COFFEE BREAKSLunch will be served next to the Auditorio Funndadores coffee stations

will be available in the buildings where the conference will be held.

SHUTTLE BUSESBuses will be provided from the recommended hotels to the conference

venue throughout the 3-day-event organized by the logistics personnel

in the University.

TAXIS Please visit the information desk if you would like to be picked up by a

taxi at the Conference Center

INTERNET AND COMPUTERSWireless internet service for your laptop is available throughout

the University.

User: LACEA

Pasword:lacealames2016

For those who need a computer, Computer Rooms will be available in

the building 18- 315

LACEA LAMES 2016 APPNow you can download our app for your IOS and Android device.

Please search for Lacea Lames.

SUGGESTED RESTAURANTSEl Herbario - New generation

Ocio - Colombian and Asian

Paralelo 17 - Vietnamese and Thai

Hatoviejo - Antioqueña

Ferro - Beff

Sinko - European bar

Rocoto - Peruvian

El Cielo – New generation

Carmen - International

IL Forno - Italian

IL Castello - Italian

In China - Chinese

Sushi Light - Japanese

La Provincia – French and Mediterranean.

Cuzco - Peruvian

Fenicia - Arabic

CURRENCY EXCHANGE AND TRAVEL AGENCYYou can exchange US dollars in to Colombian pesos in Bancolombia Office

(Building 18) and the travel agency is located in Building 7 Swiss Andina. Please

note that due to Colombian regulations a copy to your passport is required.

PAPER PRESENTATIONSAll session rooms will be completely equipped (computers, cables,

screen, projectors etc.) for electronic presentations. Remember to

bring your presentation in a USB memory stick.

Chairs and presenters shall arrive 5 minutes before the session begins

to allow time to upload the presentations.

Photo: Robinson Henao Photo: Robinson Henao


PARALLEL EVENTS

KEYNOTE SPEAKERS

ECONOMETRIC SOCIETY CONFERENCE ON THE ECONOMICS OF NETWORKS

LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATIONLATIN AMERICAN ECONOMIC HISTORY NETWORK

Directors: Aureo de Paula (University College of London) and Sanjeev Goyal (Cambridge)Local Organizers: Juan Felipe Mejía and Gustavo Canavire-Bacarreza Date: November, 8th - 9th, 2016Time: 8:00 a.m. to 6:00 p.m Venue: Universidad EAFIT, Auditorium 38-110

Academic Organizers: Luis Bértola, Luis Ignacio Jácome and José Antonio OcampoLocal Organizers: Universidad EAFIT and Banco de la República de ColombiaDate: November, 9th, 2016Time: 8:30-:4:00 p.m Venue: Universidad EAFIT, Auditorium 38-110

Finn E. KydlandNobel Prize in Economics 2004University of California, Santa Barbara

Edmund S. PhelpsNobel Prize in Economics 2006Columbia University.

Orazio Attanasio Jeremy Bentham. Professor of EconomicsUniversity College London.

Abhijit BanerjeeFord Foundation International Professor of Economic Massachusetts Institute of Technology.

Andrew ChesherWilliam Stanley Jevons. Professor of Economics and Economic MeasurementUniversity College London.

Eddie DekelWilliam R. Kenan, Jr. Professor of EconomicsNorthwestern University.

Esther DufloAbdul Latif Jameel Professor of Poverty Alleviation and Development Economics Massachusetts Institute of Technology.

Ricardo HausmannProfessor of the Practice of Economic Development,Director of Center for International DevelopmentHarvard University.

Matthew O. JacksonWilliam D. Eberle. Professor of EconomicsStanford University.

Larry SamuelsonA. Douglas Melamed. Professor of EconomicsYale University.

Elie TamerProfessor of EconomicsHarvard University.

.

CONFERENCE PROGRAM

THURSDAY NOVEMBER 10th •2016



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WEDNESDAY NOVEMBER 9TH

19:00 to 21:00 COCKTAIL RECEPTIONUNIVERSIDAD EAFIT

THURSDAY NOVEMBER 10TH

7:00 to 7:45 BUSES DEPART FROM HOTELS

7:30 to 8:30 REGISTRATION AUDITORIO FUNDADORES

8:30 to 9:45 OPENING CEREMONY AUDITORIO FUNDADORES

9:45 to 10:00 COFFEE BREAK

10:00 to 11:00 KEYNOTE LECTURE 1This session is sponsored by LACEA and the Consejo Nacional de EconomistasSession Chair: Juan Felipe Mejia

TWO KINDS OF ECONOMIC LIFEEdmund Phelps (Columbia University)

AUDITORIO FUNDADORES

10:00 to 11:00 KEYNOTE LECTURE 2This session is sponsored by LAMESSession Chair: Myrna Wooders

GOSSIP: IDENTIFYING CENTRAL INDIVIDUALS IN NETWORKSMatthew Jackson (Stanford University)

ROOM 38-110

11:05 to 12:35 INVITED SESSION 1

POVERTY AND INEQUALITY: A SESSION IN HONOR OF CARLOS VELEZThis session is sponsored by the Banco de la República de ColombiaSession Chair: Carlos Medina (Banco de la República de Colombia)

José Darío Uribe (Banco de la República de Colombia)Mauricio Cárdenas (Ministry of Finance, Colombia) (TBC)Alejandro Gaviria (Ministry of Health, Colombia) (TBC)Eduardo Lora (LACEA and Harvard University)Francisco Ferreira (World Bank)Closing remarks: Luz Estela Lopez and Daniel Velez Lopez

ROOM 38-110

SORTING AND MATCHING IN LABOR AND MARRIAGE MARKETS This session is sponsored by LACEASession Chair: Paulina Restrepo-Echavarria

ASSORTATIVE MATCHING WITH LARGE FIRMS Jan Eeckhout (Barcelona GSE – UPF, University College of London) Co-authors:Phillip Kircher (University of Edinburgh)

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SORTING ON-LINE AND ON-TIMEBenjamin Villena (Universidad de Chile) Co-authors: Stefano Banfi (Banco Central de Chile), Sekyu Choi (University of Bristol)

TARGETED SEARCH IN MATCHING MARKETSPaulina Restrepo-Echavarria (Federal Reserve Bank of St. Louis)Co-authors:Anton Cheremunkhin (Federal Reserve Bank of Dallas), Antonella Tutino (Federal Reserve Bank of Dallas)

FIRMS AND DEVELOPMENTThis session is sponsored by the Journal Economia - LACEASession Chair: Marcela Eslava Mejia

FIRM SIZE AND DEVELOPMENTHugo Hopenhayn (University of California, Los Angeles)

THE MICRO-D CLASSIFICATION: A NEW APPROACH TO IDENTIFYING DIFFERENTIATED EXPORTS Juan Carlos Hallak (Universidad de San Andres)Co-authors:Federico Bernini (Universidad de San Andrés), Julia Gonzalez (University of Illinois at Urbana-Champaign), Alejandro Vicondoa (European University Institute)Comments: Marcela Eslava Mejia (Universidad de Los Andes)

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EARLY CHILDHOOD DEVELOPMENTThis session is sponsored by Fundación Éxito Session Chair: Costas Meghir

THE EFFECT OF CHILDCARE QUALITY ON DEVELOPMENTAL OUTCOMES FOR CHILDREN 6-24 MONTHS OF AGE IN PERUNorbert Schady (Inter-American Development Bank)Co-authors:Caridad Araujo (Inter-American Development Bank), Marta Dormal (Inter-American Development Bank)

ROOM 38-101

THE AEIOTU RANDOMIZED TRIAL: THE EFFECTS OF HIGH-QUALITY CENTER-BASED CARE IN COLOMBIARaquel Bernal (Universidad de Los Andes)Co-authors: Milagros Nores (Rutgers University)

HOME VISITING AT SCALE: THE EVALUATION OF PERU’S CUNA MAS PROGRAMMarta Rubio Codina (Institute for Fiscal Studies)Co-authors:Caridad Araujo (Inter-American Development Bank), Sally Grantham-McGregor (University College of London), Fabiola Lazarte and Norbert Schady (Inter-American Development Bank)

ESTIMATING THE PRODUCTION FUNCTION FOR HUMAN CAPITAL: RESULTS FROM A RANDOMIZED CONTROL TRIAL IN COLOMBIACostas Meghir (Yale University)Co-authors:Orazio Attanasio (University College of London), Sarah Cattan (Institute for Fiscal Studies), Emla Fitzsimons (Institute for Fiscal Studies), Marta Rubio-Codina (Institute for Fiscal Studies)


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IMPROVING EFFICIENCY This session is sponsored by LAMES Session Chair: Nicholas Yannelis

REGRESSIVE TAX SUBSIDY TO EMPLOYEE HEALTH INSURANCE AND ENTREPRENEURIAL TALENT ALLOCATION Anne Villamil (University of Iowa) Co-authors:Zhigang Feng (University of Illinois)

AMBIGUITY IN ECONOMICSNicholas Yannelis (Univeristy of Iowa)

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SLOW GROWTH AND EXTERNAL AND FISCAL ADJUSTMENT IN LATIN AMERICA AND THE CARIBBEAN: WHAT’S TO BE DONE?This session is sponsored by the Inter-American Development Bank and the World Bank Session Chair: Santiago Levy

Mauricio Cardenas Santa Maria (Ministry Of Finance, Colombia)Ricardo Hausmann (Harvard University)José Juan Ruiz (Inter-American Development Bank)Augusto de La Torre (World Bank)


VIOLENCE AND CRIMEThis session is sponsored by ALCAPONE - LACEA Session Chair: Juan Vargas

MONOPOLIZING VIOLENCE IN UNGOVERNED SPACES: EVIDENCE FROM THE ACIFICATION OF RIO’S FAVELAS Claudio Ferraz (Pontificia Universidade Catolica do Rio de Janeiro)Co-authors:Joana Monteiro (Fundacao Getulio Vargas), Bruno Ottoni (Fundacao Getulio Vargas)

PREDICTABLE VIOLENCE? EVIDENCE FROM MACHINE LEARNING IN INDONESIAChristopher Blattman (University of Chicago)Co-authors:Samuel Bazzi (Boston University), Robert Blair (Brown University), Matthew Gudgeon (Boston University), Richard Peck (Northwestern University)

HOW TO MAKE A CRIMINALJuan F. Vargas (CAF-Development Bank of Latin America-Development Bank of Latin America)Co-authors:Mariana Blanco (Universidad del Rosario), Daniel Houser (George Mason University)

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PENSIONSThis session is sponsored by the Labor Network - LACEA Session Chair: Sergio Urzua CHALLENGES OF PENSIONS SYSTEMS IN LATIN AMERICA AND THE CARIBBEAN.Mariano Bosch (Inter-American Development Bank)Co-authors:Solange Berstein (Inter-American Development Bank), Laura Oliveri (Inter-American Development Bank)

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GLOBAL DEMOGRAPHIC TRENDS, CAPITAL MOBILITY, SAVING AND CONSUMPTION IN LATIN AMERICA AND CARIBBEAN (LAC)Orazio Attanasio (University College of London)Co-authors: Andrea Bonfatti (University of Padua), Sagiri Kitao (City University of New York,), Guglielmo Weber (xUniversity of Padua, CEPR and IFS) CHALLENGES FOR THE COLOMBIAN PENSION SYSTEM.Santiago Montenegro (Asofondos) INTRODUCING A NEW DATASET FOR PENSION REFORM IN THE AMERICASLucia Madrigal (Inter-American Development Bank)

12:35 to 14:00 LUNCH

14:00 -15:30 CONTRIBUTED SESSION 1

LACEA: HIGHER EDUCATION ASSORTATIVE MATCHING AND COMPLEMENTARITIES IN COLLEGE MARKETSEvan Riehl (Columbia University)

INCREASING HIGHER EDUCATION COVERAGE: STUDENT SORTING AND SUPPLY EXPANSION IN COLOMBIAMaría Marta Ferreyra (The World Bank)Co-authors: Juan Esteban Carranza (Banco de la República de Colombia)

WHAT TO STUDY?: COLLEGE EDUCATION PERTINENCE IN COLOMBIAFabiola Saavedra-Caballero (Universidad EAFIT)Co-authors: Monica Ospina (Universidad EAFIT)

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LAMES: HEALTH NON-CONTRIBUTORY HEALTH INSURANCE AND HOUSEHOLD LABOR SUPPLY: EVIDENCE FROM MEXICORenata Narita (University of São Paulo)

BENEFIT PLANS, INSURER COMPETITION, AND PHARMACEUTICAL PRICES: EVIDENCE FROM COLOMBIAMauricio Romero (University of California, San Diego)

THE COSTS OF LOCK-IN IN HEALTH CARE MARKETS: EVIDENCE FROM HOSPITAL CHOICE IN URUGUAYSebastian Fleitas (University of Arizona)

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LAMES: INEQUALITY INCOME HIDING AND INFORMAL REDISTRIBUTION: A LAB-IN-THE-FIELD EXPERIMENT IN SENEGALMarie Boltz (University of Namur, Pontificia Universidad Javeriana)Co-authors: Paola Villar (Paris School of Economics, INED) Karine Marazyan (IEDES)

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INEQUALITY, FINANCE, AND GROWTHPatricio Valenzuela (Universidad de Chile)Co-authors: Matias Braun (Universidad Adolfo Ibanez) Francisco Parro (Universidad Adolfo)

A TIME SERIES ANALYSIS OF HOUSEHOLD INCOME INEQUALITY IN BRAZIL 1977-2013Emerson Marcal (Sao Paulo School of Economics-FGV)Co-authors: Enlinson Mattos (São Paulo School of Economics (EESP-FGV)) Marcel Caparoz (RC Consultores)

LAMES: NETWORKSNETWORK CENTRALITY IN LABOR MARKETS AND WAGE DYNAMICSRicardo Freguglia (Federal University of Juiz de Fora)Co-authors: Marcelo Arbex (University of Windsor) Rafael Siano (Federal University of Juiz de Fora) A BELIEF-BASED THEORY OF HOMOPHILYAlvaro Sandroni (Kellogg School of Management/Northwestern University)Co-authors: Willemien Kets (Kellogg School of Management/Northwestern University) IMPERFECT PRICE COMPETITION IN NETWORKSEmerson Melo (Indiana University)

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LAMES: ECONOMETRICS CO-INTEGRATION RANK DETERMINATION IN PARTIAL SYSTEMS USING INFORMATION CRITERIALuca De Angelis (University Of Bologna)Co-authors: Giuseppe Cavaliere (University of Bologna) Luca Fanelli (University of Bologna) ASYMPTOTIC AND FINITE SAMPLE BEHAVIOR OF ECR TESTS FOR COINTEGRATION USING GLS DETRENDED DATAGabriel Rodríguez (Pontificia Universidad Católica del Perú)

FREQUENCY DOMAIN MINIMUM DISTANCE INFERENCE FOR POSSIBLY NONINVERTIBLE AND NONCAUSAL ARMA MODELSIgnacio Lobato (Instituto Tecnológico Autónomo de México)Co-authors: Carlos Velasco (UC3M)

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LAMES: TOPICS ON INDUSTRIAL ORGANIZATIONTHE ROLE OF NONLINEAR PRICING AND RESALE PRICE MAINTENANCE ON NOMINAL PRICE STABILITY: EMPIRICAL EVIDENCE FROM THE READY-TO-EAT CEREAL INDUSTRYJorge Florez Acosta (Universidad del Rosario)

ON THE MICROECONOMIC FOUNDATIONS OF LINEAR DEMAND FOR DIFFERENTIATED PRODUCTS Rabah Amir (University of Lowa)Co-authors: Jim Jin (University of Saint Andrews) Phil Erickson (University of Iowa)

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BEHIND THE SCENES OF MERGERS: STRATEGIC EFFECTS, ORGANIZATIONAL CHANGE, AND QUALITY PROVISION IN THE U.S. AIRLINE INDUSTRYJulia Gonzalez (University of Illinois, Urbana-Champaign)Co-authors: Jorge Lemus (University of Illinois, Urbana-Champaign) Guillermo Marshall (University of Illinois, Urbana-Champaign)

LAMES: INTERNATIONAL ECONOMICSVERTICAL INTEGRATION AND RELATIONAL CONTRACTS: EVIDENCE FROM THE COSTA RICA COFFEE CHAINJosepa Miquel-Florensa (Toulouse School of Economics)Co-authors: Rocco Macchiavello (University of Warwick)

BAD BAD CONTAGION Juan M. Londono (Federal Reserve Board)

TRADE CREDIT IN PRODUCTION CHAINSLin Shao (Bank of Canada)

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LAMES: ECONOMETRICSNEW GOODNESS-OF-FIT DIAGNOSTICS FOR CONDITIONAL DISCRETE RESPONSE MODELSIgor Kheifets (ITAM)

ROBUST LINEAR STATIC PANEL DATA MODELS USING EPSILON-CONTAMINATIONGuy Lacroix (Laval University)Co-authors: Badi Baltagi (Syracuse University)Georges Bresson (Université Paris II) Anoop Chaturvedi (University of Allahabad)

ESTIMATING UNKNOWN MATRIX BY SINGULAR OLSRolando Morales (Ciess-Econométrica)

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LACEA - LAMES: TOPICS ON FISCAL POLICYHETEROGENOUS HOUSEHOLD FINANCES AND THE EFFECT OF FISCAL POLICYCristina Fuentes-Albero (Federal Reserve Bank)Co-authors: Javier Andres (Universitat de Valencia) Javier Ferri (Universitat de Valencia) Jose Bosca (Universitat de Valencia)

TAXING TO REDUCE OBESITYArturo Aguilar (ITAM)Co-authors: Emilio Gutierrez (ITAM) Enrique Seira (ITAM)

THE DISTRIBUTIONAL IMPLICATIONS OF FISCAL CONSOLIDATION IN DEVELOPING COUNTRIESMarina Tavares (International Monetary Fund)

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LAMES: TOPICS ON MACROECONOMICSCORPORATE INVESTMENT IN EMERGING MARKETS: FINANCING VS. REAL OPTIONS CHANNELNicolas Magud (International Monetary Fund)Co-authors: Fabian Valencia (International Monetary Fund) Delong Li (John Hopkins University)

TRADE, RELATIVE PRICES, AND THE CANADIAN GREAT DEPRESSIONPedro Amaral (Federal Reserve Bank of Cleveland)Co-authors: James Macgee (Western University)

SHORT-TERM MOMENTUM AND LONG-TERM REVERSAL IN GENERAL EQUILIBRIUM: LIMITED COMMITMENT AND BELIEF HETEROGENEITYEmilio Espino (Universidad Torquato Di Tella)Co-authors: Pablo Beker (University of Warwick)

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LACEA: TOPICS ON MACROECONOMICS - COMMODITIESSHARING SHARING A RIDE ON THE COMMODITIES ROLLER. COMMON FACTORS IN BUSINESS CYCLES OF EMERGINGAndres Fernandez (Inter-American Development Bank)Co-authors: Andres Gonzalez Gomez (International Monetary Fund) Diego Rodriguez (Banco de la república de Colombia)

MACROECONOMIC EFFECTS OF COMMODITY BOOMS AND BUSTS: THE ROLE OF FINANCIAL FRICTIONSSamer Shousha (Board of Governors of the Federal Reserve System)

MINING AND ENERGY BOOM, DUTCH DISEASE AND INFORMALITY IN COLOMBIA: A DSGE APPROACHCarlos Ballesteros (Universidad EAFIT)

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LACEA: LABOR LONG-TERM DIRECT AND SPILLOVER EFFECTS OF VOCATIONAL TRAINING: EXPERIMENTAL EVIDENCE FROM COLOMBIAAdriana Kugler (Georgetown University)Co-authors: Maurice Kugler (MPAQ) Juan Esteban Saavedra (University of Southern California) Luis Omar Herrera-Prada (Inter-American Development Bank)

THE BARRIERS TO WORKER’S SAFETY IN SMES: LESSONS LEARNED FROM A SET OF RCTSJose Tessada (Pontificia Universidad Catolica de Chile)Co-authors: Francisco Brahm (Pontificia Universidad Catolica de Chile and University of Cambridge) Jeanne Lafortune (Pontificia Universidad Catolica de Chile) PEER EFFECTS ON THE ADOPTION OF A YOUTH EMPLOYMENT SUBSIDY IN CHILEClaudio Mora (Pontificia Universidad Javeriana)Co-authors: Tomas Rau (Pontificia Universidad Catolica de Chile)

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LACEA - LAMES: SKILLSCOGNITION AND RISKY BEHAVIOUR: AN INTERNATIONAL STUDYSergio Urzúa (University of Maryland)Co-authors: Ricardo Espinoza (University of Maryland) Miguel Sarzosa (Purdue) Koji Miyamoto (OECD - Organisation for Economic Co-operation and Development)

THE ROLE OF BELIEFS IN PARENTAL INVESTMENTS IN CHILDREN AND CHILD DEVELOPMENTItalo Lopez Garcia (RAND Corporation)Co-authors: Pedro Carneiro (University College London) Emanuela Galasso (The World Bank, DECRG) Miguel Cordero (University of Bristol) Paula Bedregal (Pontificia Universidad Catolica de Chile)

DESTRUCTION OF COGNITIVE AND NONCOGNITIVE SKILLS ON ADULTHOODNelson Oviedo (Universidad del Pacífico)Co-authors: Pablo Lavado (Universidad del Pacífico)

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LACEA: CHILD LABORPERVERSE CONSEQUENCES OF WELL INTENTIONED REGULATION: EVIDENCE FROM INDIA’S CHILD LABOR BANPrashant Bharadwaj (UC San Diego)

HOW WELL DO WE MEASURE CHILD LABOR? EXPERIMENTAL EVIDENCE FROM FAIR TRADE COOPERATIVESAna Dammert (Carleton University)

DOES CHILD LABOR HURT PARENTS? EVIDENCE FROM SUBJECTIVE DATAOlivier Bargain (Aix-Marseille University)Co-authors: Delphine Boutin (CERDI)

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LACEA: RISKY BEHAVIOR LEGALIZE IT? THE EFFECTS OF CALIFORNIA’S MEDICAL MARIJUANA LAW ON VIOLENT CRIMEGustavo Albuquerque (PUC-Rio/ Climate Policy Initiative)

EXPOSURE TO VIOLENT CRIME AND POPULATION HEALTH: IMPACT OF THE MEXICAN WAR ON DRUGS ON BLOOD PRESSURERyan Brown (University of Colorado Denver)Co-authors: Elizabeth Frankenberg (Duke University) Duncan Thomas (Duke University) Jessica Ho (Duke University) Andrea Velasquez (University of Colorado Denver) Arun Karlamangla (University of California, Los Angeles (UCLA)) Teresa Seeman (University of California, Los Angeles (UCLA))

GENDER DIFFERENCES ON SEXUAL BEHAVIOUR AND SCHOOL INPUTS: EVIDENCE FROM BOGOTAAndrea Carolina Atencio De León (Universidad del Rosario)Co-authors: Darwin Cortes (Universidad del Rosario) Juan Miguel Gallego (Universidad del Rosario)

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LAMES: TOPICS ON CENTRAL BANKINGA DIRECT TEST OF THE SCAPEGOAT MODEL OF EXCHANGE RATESBarbara Sadaba (Bank of Canada)

INCENTIVE-DRIVEN INATTENTIONJoão Victor Issler (Fundacao Getulio Vargas)Co-authors: Wagner Gaglianone (Banco Central do Brasil)Raffaella Giacomini (UCL) Vasiliki Skreta (UCL)

MANAGED TRADE AND ENVIRONMENTAL POLICY UNDER IMPERFECT COMPETITIONAlberto Gallegos David (Universidad Anáhuac México)

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LACEA: Education SIGNALING VS. HUMAN CAPITAL: EVIDENCE FROM A CURRICULUM REFORM AT COLOMBIA’S TOP UNIVERSITYCarolina Arteaga (University of California, Los Angeles (UCLA)

IT IS NOT WHAT YOU KNOW BUT WHO YOU KNOW: HETEROGENOUS PEER EFFECTS IN EDUCATIONIgnacio Penagos (Pontificia Universidad Javeriana)Co-authors: Ana Diaz (Pontificia Universidad Javeriana)

ESTIMATING THE RETURNS TO EDUCATION USING A PARAMETRIC CONTROL FUNCTION APPROACH: EVIDENCES FOR A DEVELOPING COUNTRYEduardo Zylberstajn (Fundacao Getulio Vargas - Sao Paulo School of Economics)Co-authors: Andre Souza (Fundacao Getulio Vargas)

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LACEA: CONDITIONAL CASH TRANSFERS DO CONDITIONAL CASH TRANSFERS REDUCE HOUSEHOLD VULNERABILITY IN RURAL MEXICO?Naoko Uchiyama (Kobe University)

TARGETING THE EXTREMELY DEPRIVED IN CONDITIONAL CASH TRANSFER PROGRAMS: A MULTIDIMENSIONAL CES INDEX APPROACHMarcos Agurto (Universidad de Piura - Virginia Tech)Co-authors: César Calvo (Universidad de Piura) Miguel Ángel Carpio (Universidad de Piura)

CAN A CONDITIONAL CASH TRANSFER PROGRAM CHANGE PARENTS’ UNDERLYING BEHAVIOURAL PARAMETERS AND HOPES FOR THEIR CHILDREN?Diana Contreras Suarez (Monash University)Co-authors: Lisa Cameron (Monash University)

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LAMES: TOPICS ON AUCTIONS AND THEORY DYNAMIC BIDDING IN SECOND PRICE AUCTIONMaryam Saeedi (Carnegie-Mellon University)Co-authors: Hugo Hopenhayn (University of California, Los Angeles (UCLA))

EQUILIBRIUM AND OPTIMAL RESERVE PRICES IN SEQUENTIAL AUCTIONSAlfonso Finot (CEA-DII, Universidad de Chile)Co-authors: Nicolas Figueroa (Pontificia Universidad Catolica de Chile)

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TAKE-IT-OR-LEAVE-IT CONTRACTS IN MANY-TO-MANY MATCHING MARKETSMatteo Triossi (Universidad de Chile)Co-authors: Antonio Romero-Medina (Universidad Carlos III de Madrid)

MALTHUSIAN STAGNATION IS EFFICIENTJuan Cordoba (Iowa State university)

LAMES: CRIMETHE REAL WINNER’S CURSEJuan Vargas (CAF-Development Bank of Latin America-Development Bank of Latin America)Co-authors: Leopoldo Fergusson (Universidad de Los Andes) Pablo Querubin (New York University) Nelson Ruiz (London School of Economics)

THE EFFECT OF COMMUNITY TRAUMATIC EVENTS ON STUDENT ACHIEVEMENT: EVIDENCE FROM THE BELTWAY SNIPER ATTACKSErdal Tekin (American University, IZA & NBER)Co-authors: Seth Gershenson (American University and IZA)

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PRISON OVERCROWDING AND RECIDIVISM: EVIDENCE FROM AN EXPANSION IN PRISON CAPACITYSantiago Tobon (Universidad de Los Andes)


15:50 – 17:20INVITED SESSION 2

ROUND TABLE: SOCIAL SECURITY SYSTEMS This session is sponsored by COMFAMA Session Chair: Juan Felipe Mejia Mejia

Ricardo Hausman (Harvard University)Alejandro Gaviria (Ministry of Health, Colombia)Mariano Bosh (Inter-American Development Bank)

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EXPERIMENTAL ECONOMICS AND BEHAVIORAL FINANCEThis session is sponsored by Bancolombia Session Chair: Diego Agudelo

LOCATION CHOICE, PORTFOLIO CHOICEHarrison Hong (Columbia University)

THE NEURAL MECHANISMS OF FINANCIAL DECISION MAKINGMonica Capra (Claremont Graduate University)

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LAMES ECONOMETRICS This session is sponsored by LAMES Session Chair: Sergio Firpo

NONLINEAR RANDOM COEFFICIENTS AND PREFERENCE HETEROGENEITYArthur Lewbel (Boston College)

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SPILLOVERS IN SOCIAL PROGRAMME PARTICIPATION: EVIDENCE FROM CHILEAureo de Paula (University College of London)

CAF-Development Bank of Latin America FLAGSHIP: SKILLS FOR WORK AND LIFE: THE ROLE OF FAMILY, SCHOOL, WORK AND HABITATThis session is sponsored by CAF-Development Bank of Latin America Session Chair: Pablo Sanguinetti

Lucila Bernniell (CAF-Development Bank of Latin America)Comments: Orazio Attanasio (University College of London), Sergio Urzua (University of Maryland)

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SOVEREIGN DEBT This session is sponsored by LACEA Session Chair: Cesar Tamayo

SOVEIGN DEBT CRISES, MATURITY STRUCTURE, AND SENIORITY: THE LONG AND THE SHORT OF ITRaquel Fernandez (New York University) Co-authors:Alberto Martin (Centre de Recerca en Economia Internacional)

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FISCAL MULTIPLIERS AND THE HOME BIAS OF SOVEREIGN DEBTAlberto Martin (Centre de Recerca en Economia Internacional)Co-authors:Fernando Broner (Centre de Recerca en Economia Internacional), Daragh Clancy (European Stability Mechanism), Aitor Erce (European Stability Mechanism)

ALLOCATING TALENT AND MATCHING PEOPLE This session is sponsored by LAMES Session Chair: Leonardo Morales

TEAM-BASED COMPENSATION CONTRACTS AND CAREER CONCERNSEvangelia Chalioti (Yale University)

MATCHING SOULMATESMyrna Wooders (Vanderbilt University)Co-authors:Martin Van der Linden (Vanderbilt University), Greg Leo (Vanderbilt University), Juan Lou (Vanderbilt University) and Yevgeniy Vorobeychik (Vanderbilt University)

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WORLD BANK FLAGSHIP REPORT: TOWARDS A RENEWAL OF ECONOMIC INTEGRATION IN LATIN AMERICA AND THE CARIBBEANThis session is sponsored by The World BankSession Chair: Augusto de La Torre

Samuel Pienknagura (World Bank)Comments: Juan Carlos Hallak (Universidad de San Andres) and Guillermo Perry (Universidad de los Andes)


ECONOMICS OF NETWORKS This session is sponsored by Universidad EAFIT and LAMES Session Chair: Gustavo Garcia SHARING SEQUENTIAL VALUES IN A NETWORK Mihai Manea (MIT)

INFORMATION RESALE IN NETWORKSRuben Juarez (University of Hawaii)

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MACROECONOMIC IMPLICATIONS OF RISING INEQUALITY AND STAGNATION: HETERODOX PERSPECTIVES This session is sponsored by Universidad EAFIT and LACEA Session Chair: Alejandro Torres Garcia

INEQUALITY AND STAGNATION AS THE RESULT OF ECONOMIC POLICY: THE HYPOTHESIS MAINSTREAM ECONOMISTS REFUSE TO CONSIDER Thomas Palley (Economic Policy Adviser, AFL-CIO)

COLONIZING THE FUTURE: AN ALTERNATIVE VIEW OF FINANCIALIZATION AND OF INEQUALITY AS IT’S DRIVING FORCE Photis Lysandrou (City, University of London)

ABSOLUTE INCOME INEQUALITY AND RISING HOUSING PRICESThomas Goda (Universidad EAFIT)Co-authors:Christ Stewart (Kingston University) and Alejandro Torres Garcia (Universidad EAFIT)

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17:25 to 18:25 KEYNOTE LECTURE 3This session is sponsored by LACEASession Chair: Gustavo Canavire-Bacarreza

FOSTERING ENTREPRENEURSHIP AMONG THE POORAbhijit Banerjee (MIT)


KEYNOTE LECTURE 4This session is sponsored by LAMESSession Chair: Sergio Firpo

SENSITIVITY ANALYSIS IN STRUCTURAL MODELSElie Tamer (Harvard University)

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WELCOME COCKTAILBuses depart from Universidad EAFIT

MUSEO DE ARTE MODERNO MAMM

FRIDAY NOVEMBER 11th •2016



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8:00 to 9:30 CONTRIBUTED SESSION 2

LAMES: LABORPROGRESSIVE TAXATION AND RISKY CAREER CHOICESPedro Silos (Temple University)Co-authors: German Cubas (University of Houston)

REMITTANCES AND THE INFORMAL ECONOMYSantanu Chatterjee (University of Georgia)Co-authors: Stephen Turnovsky (University of Washington) THE EFFECTS OF THE APPRENTICES REGULATED QUOTAS ON COLOMBIAN MANUFACTURING FIRM PERFORMANCE.Carlos Ospino (Universidad de Los Andes)

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LACEA: EARLY CHILDHOODTHE OPPORTUNITY COST OF EARLY CHILDHOOD EDUCATION: FORMAL, INFORMAL, AND MATERNAL CAREAndrés Hojman (University of Chicago)Co-authors: Joshua Shea (University of Chicago) Jorge García (University of Chicago)

INTEGRATING EARLY-LIFE SHOCKS AND HUMAN CAPITAL FORMATION: EVIDENCE FROM COLOMBIAFabio Sánchez Torres (Universidad de Los Andes)Co-authors: Valentina Duque (University of Michigan) Maria Rosales-Rueda (University of California, Irvine)

THE EFFECT OF CHILDCARE QUALITY ON DEVELOPMENTAL OUTCOMES FOR CHILDREN 6-24 MONTHS OF AGE IN PERUNorbert Schady (Inter-American Development Bank)Co-authors: M. Caridad Araujo (Inter-American Development Bank) Marta Dormal (Inter-American Development Bank)

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LAMES: HIGHER EDUCATIONSUBJECTIVE COMPLETION BELIEFS AND THE DEMAND FOR POST-SECONDARY EDUCATIONKevin Staub (The University of Melbourne)Co-authors: Johannes Kunz (University of Zurich)

PEER EFFECTS AND ACADEMIC PERFORMANCE IN HIGHER EDUCATION - A REGRESSION DISCONTINUITY DESIGN APPROACHJose Carvalho (Federal University of Ceará)Co-authors: Diego André (Federal University of Ceará)

DO YOU LIKE ME ENOUGH? THE IMPACT OF RESTRICTING PREFERENCES RANKING IN A UNIVERSITY MATCHING PROCESSJeanne Lafortune (Pontificia Universidad Catolica de Chile)Co-authors: Nicolas Figueroa (Pontificia Universidad Catolica de Chile) Alejandro Saenz (Pontificia Universidad Catolica de Chile)

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LACEA - LAMES: HEALTHSANITATION AND CHILD HEALTH IN INDIABritta Augsburg (The Institute for Fiscal Studies)Co-authors: Paul Rodriguez Lesmes (University College London)

A THEORY OF EDUCATION, HEALTH AND LONGEVITYTitus Galama (University of Southern California)Co-authors: Hans Van Kippersluis (Erasmus University Rotterdam)

WHAT DRIVES INDIVIDUAL DEMAND FOR HEALTH INSURANCE? EXPLORING THE CHILEAN EXPERIENCEJuan Gabriel Fernandez (Universidad de los Andes Chile)

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LAMES: LABOR INEQUALITYUNDERSTANDING SOURCES OF WAGE INEQUALITY: ADDITIVE DECOMPOSITION OF THE GINI COEFFICIENT USING QUANTILE REGRESSIONCarlos Hurtado (University of Illinois)

USING MINIMUM WAGES TO IDENTIFY THE LABOR MARKET EFFECTS OF IMMIGRATIONHillel Rapoport (Paris School of Economics)Co-authors: Anthony Edo (Centre d’Etudes Prospectives et d’Informations Internationales) PAVING THE WAY TO DEVELOPMENT: COSTLY MIGRATION AND LABOR MARKET INTEGRATIONJaqueline Oliveira (Cole)Co-authors: Melanie Morten (Stanford University)

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LAMES: GAME THEORYMANAGING STRATEGIC BUYERS: SHOULD A SELLER BAN RESALE?Joaquin Coleff (CEDLAS-UNLP)Co-authors: Juan Beccuti (University of Bern)

IN DIFFERENCE WE TRUST: HETEROGAMOUS MARRIAGES AND CULTURAL TRANSMISSIONGiampaolo Lecce (Università Bocconi)

A REPRESENTATION THEOREM FOR GENERAL REVEALED PREFERENCEMikhail Freer (George Mason University)Co-authors: Cesar Martinelli (George Mason University)

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LAMES: MONETARY POLICYMONETARY POLICY THROUGH PRODUCTION NETWORKS: EVIDENCE FROM THE STOCK MARKETMichael Weber (University of Chicago)

REDICTION OF FEDERAL FUNDS TARGET RATE: A DYNAMIC LOGISTIC BAYESIAN MODEL AVERAGING APPROACHHernán Alzate (Bancolombia S.A.)Co-authors: Andrés Ramírez-Hassan (Universidad EAFIT)

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MONETARY POLICY WHEN HOUSEHOLDS HAVE DEBT: NEW EVIDENCE ON THE TRANSMISSION MECHANISMClodomiro Ferreira (London Business School)Co-authors: James Cloyne (Bank of England) Paolo Surico (London Business School)


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LAMES: INTERNATIONAL ECONOMICSPOPULATION DIVERSITY, DIVISION OF LABOR AND COMPARATIVE DEVELOPMENTÖmer Özak (Southern Methodist University)Co-authors: Emilio Depetris-chauvin (Pontificia Universidad Catolica de Chile)

THE ROLE OF PRODUCTIVITY, TRANSPORTATION COSTS, AND BARRIERS TO INTERSECTORAL MOBILITY IN STRUCTURAL TRANSFORMATIONMihaela Pintea (Florida International University)Co-authors: Cem Karayalcin (Florida International University)

HOW LONG DO CORPORATES BORROW? EVIDENCE FROM GLOBAL BOND AND LOAN ISSUANCESSergio Schmukler (The World Bank)Co-authors: Juan Cortina Lorente (The World Bank)Tatiana Didier (The World Bank)

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LACEA: AGRICULTURALADOPTION OF IMPROVED SEEDS AND LAND ALLOCATION, EVIDENCE FROM DRC.Margaux Vinez (Paris School of Economics)Co-authors: Karen Macours (Paris School of Economics) Sylvie Lambert (Paris School of Economics) Tanguy Bernard (UNIVERSITY OF BORDEAUX/ IFPRI)

FUELLING DEVELOPMENT: SUGARCANE EXPANSION IMPACTS IN BRAZILPriscila Souza (Pontifícia Universidade Católica do Rio de Janeiro)Co-authors: Juliano Assunção (Pontifícia Universidade Católica do Rio de Janeiro)Breno Pietracci (Pontifícia Universidade Católica do Rio de Janeiro)

WHEN THE STATE GIVES BACK: TRUST AND TRUSTWORTHINESS AFTER A LAND RESTITUTION PROGRAMFrancesco Bogliacino (Universidad Nacional de Colombia)Co-authors: Gianluca Grimalda (Universidad Jaume I, Cristiano Codagnone (Università degli studi di Milano) Laura Jimenez (Universidad Nacional de Colombia) Daniel Reyes (Open Evidence)

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LACEA: GENDER AND CRIMEINTIMATE PARTNER VIOLENCE AND FEMALE EMPLOYMENT: EVIDENCE FROM COLOMBIAJohanna Fajardo-Gonzalez (University of Minnesota)

HAPPILY EVER AFTER? DOMESTIC VIOLENCE AND WOMEN’S EMPOWERMENT AFTER CCTSCatherine Rodriguez (Universidad de los Andes)Co-authors: Adriana Camacho (Universidad de los Andes)

THE IMPACT OF GRADE RETENTION ON JUVENILETatiana Reyes (Universidad de Chile)Co-authors: Juan Diaz (Harvard University)Nicolas Grau (Universidad de Chile) Jorge Rivera (Universidad de Chile)

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LAMES: POLITICAL ECONOMYPARTY EXPERTISE, CAMPAIGN DONATION AND GOVERNMENT CONTRACTS: EVIDENCE FROM AN ELECTORAL QUASI-EXPERIMENTKlenio Barbosa (Sao Paulo School of Economics-FGV)Co-authors: Paulo Arvate (Fundacao Getulio Vargas) Eric Fuzitani (BrUsed)

DECENTRALIZED AID AND DEMOCRACYJoaquin Morales (Universidad Privada Boliviana)

WEAK PARTY VOTING IN SIMPLE PLURALITY ELECTIONSEmekcan Yucel (University of Maryland)

MEET THE OLIGARCHS: BUSINESS LEGITIMACY, STATE CAPACITY AND REGULATIONJuan Dubra (Universidad de Montevideo)Co-authors: Rafael DiTella (Harvard University) Alejandro Lagomarsino (Harvard University)

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LACEA: LABORDEPENDENCE OR CONSTRAINTS? CASH TRANSFERS AND LABOR SUPPLYDiego Vera Cossio (University of California, San Diego)

LABOR SUPPLY ELASTICITIES: EVIDENCE FOR LATIN AMERICAOlivier Bargain (Aix-Marseille University)Co-authors: Joana Silva (The World Bank) STARTING WITH THE RIGHT FOOT?: MOBILITY AND WAGES OF YOUNG WORKERS IN BRAZILDaniel Alonso-Soto (Inter-American Development Bank)Co-authors: Marina Bassi (Inter-American Development Bank)

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LACEA - LAMES: POVERTY AND EDUCATIONLABOR EARNINGS, MISALLOCATION AND THE RETURNS TO EDUCATION IN MEXICOLuis-Felipe López-Calva (The World Bank)Co-authors: Santiago Levy (Inter-American Development Bank)

HAS VULNERABILITY TO POVERTY BEEN INCREASING IN CHILE?: A DISTRIBUTIONAL ANALYSIS OF HOUSEHOLD INCOME 1990-2013Amanda Telias (University of Manchester)

MEASURING POVERTY DYNAMICS WITH SYNTHETIC PANELS BASED ON REPEATED CROSS-SECTIONSHai-Anh Dang (The World Bank)

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LAMES: TREATMENT EFFECTSON THE ESTIMATION OF TREATMENT EFFECTS WITH ENDOGENOUS MISREPORTINGRusty Tchernis (Georgia State University)Co-authors: Pierre Nguimkeu (Georgia State University) Augustine Denteh (Georgia State University)

IDENTIFYING TREATMENT EFFECTS WITH DATA COMBINATION AND UNOBSERVED HETEROGENEITYGonzalo Rivera (The World Bank)Co-authors: Pablo Lavado (Universidad del Pacífico)

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TREATMENT EFFECTS DUE TO A SUBSIDIZED HEALTH INSURANCE PROGRAM: A BAYESIAN ORDERED POTENTIAL OUTCOME ANALYSISRosember Guerra (Universidad EAFIT)Co-authors: Andrés Ramírez-Hassan (Universidad EAFIT)

LACEA: INDUSTRIAL ORGANIZATIONLEARNING, PRICES, AND FIRM DYNAMICSDaniel Dias Federal Reserve Board (Boar)

ADAPTATION AND SURVIVAL IN THE BREWING INDUSTRY DURING PROHIBITIONCarlos Eduardo Hernandez (School of Management, Universidad de los Andes)

RESOURCE MANAGEMENT UNDER ENDOGENOUS RISK OF EXPROPRIATIONMauricio Rodriguez Acosta (Universidad del Rosario)

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LACEA: EDUCATIONSKIPPING QUESTIONS IN SCHOOL EXAMS: THE ROLE OF NON-COGNITIVE SKILLS ON EDUCATIONAL OUTCOMESMonica Hernandez (Tulane University)

IMPROVING LEARNING OUTCOMES THROUGH SOCIAL ASSISTANCE: REGRESSION-DISCONTINUITY EVIDENCE FROM BRAZILRafael Proenca (The World Bank)Co-authors: Joana Silva (The World Bank)Flavio Cireno (Ministry of Social Development)

THE HETEROGENEOUS EFFECT OF INFORMATION ON STUDENT PERFORMANCE: EVIDENCE FROM A RANDOMIZED CONTROL TRIAL IN MEXICORafael De Hoyos (The World Bank)Co-authors: Ciro Avitabile (University of Surrey)

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LAMES: FISCAL POLICYENDOGENOUS DISCOUNTING, WARINESS AND EFFICIENT CAPITAL TAXATIONJuan Pablo Gama (IMPA)Co-authors: Aloisio Araujo (IMPA/FGV) Rodrigo Novinski (Faculdades Ibmec) Mario Rui Pascoa (University of Surrey)

TAXATION OF COUPLES: A MIRRLEESIAN APPROACH FOR NON-UNITARYCarlos Eugenio da Costa (EPGE-FGV)

FEAR OF TAXESJulio Leal (Banco de Mexico)Co-authors: Javier Madujano (ITAM)

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LACEA: CONFLICT ONE TEAM, ONE NATION: FOOTBALL, ETHNIC IDENTITY, AND CONFLICT IN AFRICAEmilio Depetris Chauvin (Pontificia Universidad Catolica de Chile)Co-authors: Ruben Durante (Sciences Po)

TAKE WHAT YOU CAN: PROPERTY RIGHTS, CONTESTABILITY AND CONFLICTThiemo Fetzer (University of Warwick)

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POLARIZATION OF EDUCATION AND CIVIL WARSAlejandra Montoya (Universidad EAFIT)Co-authors: Gustavo Canavire-Bacarreza (Universidad EAFIT) Michael Jetter (University of Western Australia)

LACEA: TOPICS ON MACROECONOMICS-COMMODITIESTERMS OF TRADE VOLATILITY, REAL EXCHANGE RATE VOLATILITY AND GROWTH: EVIDENCE FROM COMMODITY TERMS OF TRADE SHOCKSDaniel Riera-Crichton (Bates College)Co-authors: Thorsten Janus (University of Wyoming)

COMMODITY BOOM AND LATIN AMERICAN ECONOMIC GROWTH: WAS THIS TIME REALLY DIFFERENT?Roberto Alvarez (Universidad de Chile)Co-authors: Sebastián Edwards (University of California, Los Angeles (UCLA)) Juan Marcos Wlasiuk (Universidad Adolfo Ibanez)

CAPITAL ALLOCATION ACROSS REGIONS, SECTORS AND FIRMS: EVIDENCE FROM A COMMODITY BOOM IN BRAZILJacopo Ponticelli (The University of Chicago)Co-authors: Paula Bustos (CEMFI) Gabriel Garber (Banco Central do Brasil)

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LACEA: LABORTHE DECLINE IN LABOR INCOME INEQUALITY IN LATIN AMERICA: TAKING STOCK OF ITS DETERMINANTSCarlos Rodriguez-Castelan (The World Bank)Co-authors: Luis-Felipe López-Calva (The World Bank) Nora Lustig (Tulane University) Daniel Valderrama (The World Bank) INPUT ALLOCATION, WORKFORCE MANAGEMENT AND PRODUCTIVITY SPILLOVERS: EVIDENCE FROM PERSONNEL DATAMiguel Martinez (Universidad de Piura)Co-authors: Francesco Amodio (McGill University) EARNINGS INEQUALITY AND THE MINIMUM WAGE: EVIDENCE FROM BRAZILNiklas Engbom (Princeton University)Co-authors: Christian Moser (Princeton University)

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LACEA: POVERTY AND HAPPINESS MEASURING POVERTY IN LATIN AMERICA AND THE CARIBBEAN:METHODOLOGICAL CONSIDERATIONS WHEN ESTIMATING AN EMPIRICAL REGIONAL POVERTY LINELeonardo Lucchetti (The World Bank)

THE HALF-LIFE OF HAPPINESS: HEDONIC ADAPTATION IN THE SUBJECTIVE WELL-BEING OF POOR SLUM DWELLERS TO A LARGE IMPROVEMENT IN HOUSINGRaimundo Undurraga (New York University)Co-authors: Sebastian Galiani (University of Maryland) Paul Gertler (University of California, Berkeley) DO CONTEXTUAL FACTORS AFFECT SOCIAL POLICIES? EMPIRICAL EVIDENCE FROM AN ANTI-POVERTY POLICY IN BRAZIL.Daniele Malerba (University of Manchester)

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LACEA: TOPICS ON MACROECONOMICSUNEMPLOYMENT AND GROSS CREDIT FLOWS IN A NEW KEYNESIAN FRAMEWORKDavid Florian (Banco Central de Reserva del Peru)Co-authors: Johanna Francis (Fordham University)

PRICE PROMOTIONS AND NOMINAL RIGIDITIESPablo Cuba (Federal Reserve Board)Co-authors: Daniel Hernaiz (Inter-American Development Bank)

“REMITTANCES, ENTREPRENEURSHIP AND EMPLOYMENT DYNAMICS OVER THE BUSINESS CYCLE”Federico Mandelman (Federal Reserve Bank of Atlanta)

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LACEA - LAMES: EVALUATING THE EFFECTS OF THE REFORM TO PAYROLL AND INCOME TAXES IN COLOMBIA 1TAXING WHERE YOU SHOULD: FORMAL EMPLOYMENT AND CORPORATE INCOME . PAYROLL TAXES IN THE COLOMBIAN 2012 TAX REFORMRaquel Bernal (Universidad de Los Andes)Co-authors: Marcela Eslava (Universidad de los Andes) Marcela Meléndez (ECONESTUDIO and Universidad de los Andes)

THE IMPACT OF LOWERING THE PAYROLL TAX ON INFORMALITY IN COLOMBIACristina Fernández (Fedesarrollo)Co-authors: Leonardo Villar (Fedesarrollo)

IMPACTOS DE LA LEY 1607 SOBRE EL EMPLEO FORMAL EN COLOMBIAAdriana Kugler (Georgetown University)Co-authors: Maurice Kugler (IMPAQ International)

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LAMES: BANKRUPCY BANKRUPTCY EQUILIBRIUM: EFFICIENCY AND CONTAGIONJavier Mauricio villalba morales (IMPA)Co-authors: Aloisio Araujo (IMPA)

BANKRUPTCY CHOICE WITH ENDOGENOUS FINANCIAL CONSTRAINTSCésar E. Tamayo (Inter-American Development Bank)

DOES BANKRUPTCY PROTECTION AFFECT RISK-TAKING IN HOUSEHOLD PORTFOLIOS?Mariela Dal Borgo (Banco de Mexico)

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LAMES: TOPICS ON BANKING AND FINANCIAL MARKETSHETEROGENEOUS CREDIT UNION PRODUCTION TECHNOLOGIES WITH ENDOGENOUS SWITCHING AND CORRELATED EFFECTSDiego Restrepo-Tobon (Universidad EAFIT)Co-authors: Emir Malikov (Auburn University) Subal Kumbhakar (State University of New York at Binghamton)

INFORMATIONAL EXTERNALITIES AND INEFFICIENT CONSUMER CREDIT BOOMS: THEORY AND EMPIRICSDaniel Osorio (Banco de la república de Colombia)

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CHOQUET PRICING FOR FINANCIAL MARKETS WITH FRICTIONSBernard Cornet (University of Kansas and Paris School of Economics)Co-authors: Alain Chateauneuf (Paris School of Economics, Université Paris 1 Panthéon-Sorbonne)

SEMI-PARAMETRIC ENTROPIC ESTIMATION OF STATE PRICE DENSITIES IMPLICIT IN INTEREST RATE DERIVATIVESRafael Azevedo (Federal University of PernambucoCo-authors: Caio Almeida (Fundacao Getulio Vargas)

LAMES: FINANCIAL ECONOMICSPUBLIC DEVELOPMENT BANKS AND CREDIT MARKET IMPERFECTIONSMarcela Eslava (Universidad de Los Andes)Co-authors: Xavier Freixas (Universitat Pompeu Fabra)

DO YOU WANT SOME CASH-BACK? ASSESSING THE DEMAND FOR A NO-CLAIM REBATE LIFE-INSURANCE PRODUCTFrancisco Galarza (Universidad del Pacífico)Co-authors: Ingo Outes (University of Oxford)

CREDIT, MISALLOCATION AND PRODUCTIVITY GROWTH: A DISAGGREGATED ANALYSISCarlos Urrutia (ITAM)Co-authors: Sangeeta Pratap (City University of New York) Felipe Meza (ITAM)

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9:50 – 11:20 INVITED SESSION 3

INTER-AMERICAN DEVELOPMENT BANK FLAGSHIP REPORT: SAVING FOR DEVELOPMENT: HOW LATIN AMERICA AND THE CARIBBEAN CAN SAVE MORE AND BETTERThis session is sponsored by the Inter-American Development Bank Session Chair: Jose Juan Ruiz

Eduardo Cavallo (Inter-American Development Bank)Tomás Serebrisky (Inter-American Development Bank)

Comments: Orazio Attanasio (University College of London), Augusto de la Torre (World Bank), Santiago Levy (Inter-American Development Bank)


URBAN ECONOMICS This session is sponsored by CAF-Development Bank of Latin America Session Chair: Juan Vargas

DO FIRMS REDLINE WORKERS? A CONTROLLED EXPERIMENT IN BOGOTÁAna Maria Diaz (Universidad Javeriana) Co-authors:Luz Magdalena Salas (Universidad Javeriana)

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EXPLORING THE POTENTIAL OF MACHINE LEARNING FOR CLASSIFICATION ON VHR IMAGERY FOR AUTOMATIC SLUM IDENTIFICATIONJuan Carlos Duque (Universidad EAFIT )Co-authors:Jorge Patiño (Universidad EAFIT) and Alejandro Betancourt (Eindhoven University of Technology)

SLUM GROWTH IN BRAZILIAN CITIESGuillermo Alves (Brown University)

ECONOMETRICS This session is sponsored by LAMES Session Chair: David Jacho-Chavez

NONLINEAR PANEL DATA RANDOM COEFFICIENT MODELSStephan Hoderlein (Boston College )

PARAMETRIC AND NONPARAMETRIC RESTRICTIONS FOR NONSEPARABLE MODELSRosa Matzkin (University of California, Los Angeles)

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CHALLENGES FOR CENTRAL BANKING: PERSPECTIVES FROM LATIN AMERICA This session is sponsored by International Monetary Fund Session Chair: Nicolas Magud

CENTRAL BANKING IN LATIN AMERICALuis Jacome (International Monetary Fund)Comments: Carlos Vegh (Johns Hopkins University) and Guillermo Perry (Universidad de Los Andes)

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FISCAL POLICY AND INEQUALITY This session is sponsored by LACEA Session Chair: Gustavo Canavire-Bacarreza

THE DYNAMICS OF INEQUALITY IN LAC: THE ROLE OF LABOR AND NON-LABOR INCOMELuis Felipe Lopez-Calva (World Bank) Co-authors:Nora Lustig (Tulane University), Carlos Rodriguez-Castelan (World Bank)

FISCAL POLICY AND THE EMERGING MIDDLE CLASS IN LATIN AMERICA: AN ANALYSIS BASED ON THE COMMITMENT TO EQUITYAngel Melguizo (OECD )Co-authors:Christian Daude (OECD), Nora Lustig (Tulane University), Jose Ramon Perea (World Bank)

TAXES, EXPENDITURES, POVERTY AND INCOME DISTRIBUTION IN ARGENTINA. AN ANALYSIS FROM CEQ PERSPECTIVEDario Rossignolo (Universidad de Buenos Aires and Tulane)

THE IMPACT OF TAXES AND TRANSFERS ON INEQUALITY AND POVERTY IN COLOMBIAMarcela Melendez (ECONESTUDIO y Universidad de los Andes)Co-authors:Arturo Harker (Universidad de los Andes), Nora Lustig (Tulane University) y Valentina Martínez (Inter-American Development Bank)

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LAMES THEORYThis session is sponsored by LAMES Session Chair: Lina Cardona Sosa

COLLUSION THROUGH COMMUNICATION IN AUCTIONSLeeat Yariv (California Institute of Technology) Co-authors:Marina Agranov (California Institute of Technology)

MATCHING AUCTIONSAlessandro Pavan (Northwestern University)Co-authors:Daniel Freshtman (Northwestern University)

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RECENT DEVELOPMENTS ON THE ECONOMICS OF CRIME Mayor’s Office of Medellín is an ally of this sessionSession Chair: Gustavo Canavire-Bacarreza

THE DIRECT AND DISPLACEMENT EFFECTS OF HOTSPOT POLICING AND STREET CLEANUP: EXPERIMENTAL EVIDENCE FROM BOGOTAChristopher Blattman (University of Chicago)Co-authors:Donald Green (Columbia University), Daniel Mejia (Universidad de Los Andes), Daniel Ortega (CAF-Development Bank of Latin America), Santiago Tobon (Universidad de Los Andes). LOCAL ECONOMIC SHOCKS AND CRIME: EVIDENCE FROM THE BRAZILIAN TRADE LIBERALIZATION Rodrigo Soares (Columbia University)Co-authors:Rafael Dix-Carneiro (Duke University) and Gabriel Ulyssea (Pontificia Universidade do Rio de Janeiro).

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11:25 to 12:25 KEYNOTE LECTURE 5This session is sponsored by LAMESSession Chair: Myrna Wooders

PRESIDENTIAL ADDRESS ECONOMETRIC SOCIETY: HARD EVIDENCE IN MECHANISM DESIGN AND IN GAMESEddie Dekel (Northwestern University)

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12:25 to 14:00 LUNCH

14:00 to 15:30 LACEA: CORPORATE FINANCE| ROOM: 27-101ALL IN THE FAMILY? CEO SUCCESSION AND FIRM ORGANIZATIONDaniela Scur (University of Oxford)Co-authors: Renata Lemos (University of Cambridge)

INVESTMENT CLIMATE AND BUSINESS PERFORMANCE: AN EMPIRICAL ANALYSIS OF LATIN AMERICAErick Ariel Gonzales Rocha (Kobe University)

FAMILY FIRMS AND CONTRACTUAL INSTITUTIONSLeonardo Iacovone (The World Bank)Co-authors: William F. Maloney (The World Bank) Nick Tsivanidis (University of Chicago)

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ACTIONS THAT IMPROVE FIRM PERFORMANCE AND THE BOARD’S CHARACTERISTICS RELATED Sandra Gaitan (Universidad EAFIT)Co-authors: Hernan Herrera-Echeverri (Universidad EAFIT) Luis Antonio Orozco (Universidad Externado de Colombia) Nidia Soto-echeverry (Superintendencia de Sociedades de Colombia)

LACEA: NATURAL RESOURCESNATURAL RESOURCES AND EDUCATION: EVIDENCE FROM CHILEDamián Vergara (Universidad de Chile)Co-authors: Roberto Alvarez (Universidad de Chile)

FROM TELEGRAPHS TO SPACE: THE RONDON AMAZONIAN EXPEDITIONHumberto Laudares (The Graduate Institute for International and Development Studies, Geneva)

WINNING THE OIL LOTTERY: THE IMPACT OF NATURAL RESOURCE EXTRACTION ON GROWTHDaniel Da Mata (Institute for Applied Economic Research)Co-authors: Tiago Cavalcanti (University of Cambridge and EESP/FGV) Frederik Toscani (IMF)

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LACEA: POLITICAL ECONOMYTHREAT OF REVOLUTION, PEASANT MOVEMENT AND REDISTRIBUTION. THE COLOMBIAN CASE, 1957-1975Maria Lopez-Uribe (London School of Economics)

THE POLITICS OF POLARIZING POLICIESLucas Siga New york universityCo-authors: S. Nageeb Ali (Pennsylvania State University)Max Mihm (New York University)

(YOU GOTTA) STRIKE IF THE RIGHT (IS THE PARTY!): STRIKE PETITIONS AND THE ELECTORAL CYCLE IN MEXICOHector Gutierrez Rufrancos (University of Sussex)

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LACEA: LABOR WHY WAIT? A CENTURY OF EDUCATION, MARRIAGE TIMING AND GENDER ROLESJeanne Lafortune (Pontificia Universidad Catolica de Chile)Co-authors: Murat Iyigun (University of Colorado)

SOURCES OF GENDER WAGE GAPS IN LATIN AMERICAN COUNTRIESMauricio Tejada (Universidad Alberto Hurtado)Co-authors: Marcela Perticará (Universidad Alberto Hurtado

CHILDREN AND PARENTS TIME USE: EVIDENCE FROM A WELFARE PROGRAM IN RURAL COLOMBIADiana Lopez-Avila (International Initiative for Impact Evaluation)Co-authors: Alice Mesnard (City University London)

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DO THE UNEMPLOYED PAY LOWER PRICES? A REASSESMENT OF THE VALUE OF UNEMPLOYMENT INSURANCERodolfo Campos (Banco de España)Co-authors: Iliana Reggio (Universidad Carlos III de Madrid)

LAMES: LABORGETTING AWAY FROM 9 TO 5: WORK-FAMILY TIMING AND THE GENDER WAGE GAPGerman Cubas (University of Houston)Co-authors: Pedro Silos (Temple University) Chinhui Juhn (University of Houston)

MANAGEMENT PRACTICES IN MEXICO: WHICH MEASURE EXPLAINS MICROENTERPRISES’ PERFORMANCE BETTER?Leonardo Iacovone (The World Bank)Co-authors: Mariana Pereira-López (The World Bank)

DO THE UNEMPLOYED PAY LOWER PRICES? A REASSESMENT OF THE VALUE OF UNEMPLOYMENT INSURANCERodolfo Campos (Banco de España)Co-authors: Lliana Reggio (Universidad Carlos III de Madrid)

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LACEA: CRIMEPROSPERITY AND VIOLENCE IN ILLEGAL MARKETSDorothy Kronick (University of Pennsylvania)

WOMEN-ONLY SUBWAY CARS, SEXUAL HARASSMENT, AND PHYSICAL VIOLENCE: EVIDENCE FROM MEXICO CITYEmilio Gutierrez (ITAM)Co-authors: Arturo Aguilar (ITAM) Paula Soto (Universidad autonoma Metropolitana)

A SPATIAL ANALYSIS TO PERMANENT INCOME AS DETERRENT OF HOMICIDES: THE CASE OF MEDELLIN CITYJoaquin A. Urrego (The World Bank)Co-authors: Catalina Gomez (Universidad EAFIT) Hermilson Velasquez (Universidad EAFIT)

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LACEA: ENVIRONMENTAL ECONOMICSGONE WITH THE WIND: ESTIMATING HURRICANE AND CLIMATE CHANGE COSTS IN THE CARIBBEANSebastian Acevedo (International Monetary Fund)

LOCAL PREFERENCES FOR WATER QUALITY IMPROVEMENTS, RECREATION, AND GOVERNANCE: A CHOICE MODEL OF LAKES RESTORATION IN BRAZILWilliam Vásquez (Fairfield University)Co-authors: Carlos De Rezende (Universidade Estadual do Norte Fluminense)

THE EFFECT OF EXTREME HYDRO-METEOROLOGICAL EVENTS ON LABOR MARKET OUTCOMES: EVIDENCE FROM THE COLOMBIAN CARIBBEANMaria Acevedo (Inter-American Development Bank)

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LACEA - LAMES: Treatment EffectsPUBLIC VS. PRIVATE MENTAL ACCOUNTS:EXPERIMENTAL EVIDENCE FROM SAVINGS GROUPS IN COLOMBIALuz Magdalena Salas (Pontificia Universidad Javeriana)

CAUSAL EFFECTS OF UNIVERSAL HEALTH INSURANCE: EVIDENCE ON CHILD HEALTH IN MEXICOAndrea Velasquez (University of Colorado Denver)Co-authors: Gina Turrini (Duke University) Gabriela Farfan (The World Bank) Maria Genoni (The World Bank) Duncan Thomas (Duke University)

EVALUATING THE EFFECTS OF LENGTHS OF PARTICIPATION IN THE WORKFORCE INVESTMENT ACT ADULT PROGRAM VIA DECOMPOSITION ANALYSISSebastian Calonico (University of Miami)

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LAMES: TOPICS ON CENTRAL BANKING FED’S INTEREST RATE NORMALIZATION: DOES IT MATTER WHO BORROWS FROM ABROAD IN EME?Victoria Nuguer (Banco de Mexico)

WHEN THE CENTRAL BANK MEETS THE FINANCIAL AUTHORITY: STRATEGIC INTERACTIONS AND INSTITUTIONAL DESIGNJessica Roldán (Banco de Mexico)Co-authors: Julio Carrillo (Banco de Mexico) Victoria Nuguer (Bank of Mexico) Enrique Mendoza (University of Pennsylvania)

UNCONVENTIONAL MONETARY POLICY NORMALIZATION IN THE U.S: EFFECTS ON EMERGING MARKET CAPITAL FLOWSTatjana Dahlhaus (Bank of Canada)Co-authors: Garima Vasishtha (Bank of Canada)

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LAMES: ECONOMETRICS A PANEL QUANTILE APPROACH TO ATTRITION BIAS IN BIG DATA: EVIDENCE FROM A RANDOMIZED EXPERIMENTCarlos Lamarche (University of Kentucky)Co-authors: Matthew Harding (Duke University)

DYNAMIC NONLINEAR RATIONAL QUANTILE MODELSLuciano de Castro (University of Iowa)Co-authors: Antonio Galvao (University of Iowa) Locally Robust Semiparametric EstimationJuan Carlos Escanciano (Indiana University)

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LACEA: TOPICS ON MICROECONOMICS REWARDING SAFER SEX: CONDITIONAL CASH TRANSFERS FOR HIV/STI PREVENTIONDamien de Walque (The World Bank)Co-authors: William Dow (University of California, Berkeley) Rose Nathan (Ifakara Health Institute)

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BELOW REPLACEMENT: RECENT TRENDS IN CHILEAN FERTILITY AND PARENTAL LEAVE REFORMSerafima Chirkova (Universidad de Santiago de Chile)

LABOR SHARE AND MONETARY POLICYCristiano Cantore (University of Surrey)

LACEA: CREDITON CORPORATE BORROWING, CREDIT SPREADS AND ECONOMIC ACTIVITY IN EMERGING ECONOMIES: AN EMPIRICAL INVESTIGATIONJulian Caballero (Inter-American Development Bank)Co-authors: Andres Fernandez (Inter-American Development Bank) Jongho Park (University of Maryland)

PRIVATE CREDIT AND INEQUALITYRonald Fischer (CEA-DII, Universidad de Chile)Co-authors: Diego Huerta (Banco Central de Chile) Patricio Valenzuela Universidad de Chile) ARE CAPITAL (AND EARNINGS) INCENTIVES EFFECTIVE FOR LOAN LOSS PROVISIONS?Ricardo Schechtman (Banco Central do Brasil)Co-authors: Tony Takeda (Banco Central do Brasil)

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LACEA: TOPICS ON MACROECONOMICS ARE SUPPLY SHOCKS CONTRACTIONARY AT THE ZLB? EVIDENCE FROM UTILIZATION-ADJUSTED TFP DATAJulio Garin (University of Georgia)Co-authors: Robert Lester (Colby College) Eric Sims (University of Notre Dame)

THE IMPACT OF MACROPRUDENTIAL POLICIES AND THEIR INTERACTION WITH MONETARY POLICY: AN EMPIRICAL ANALYSIS USING CREDIT REGISTRY DATAAndres Murcia (Banco de la república de Colombia)Co-authors: Leonardo Gambacorta (Bank for International Settlements)

MACROPRUDENTIAL POLICY EVALUATION USING CREDIT REGISTRY DATA: ARGENTINA, 2009-2014Horacio Aguirre (Banco Central de la República Argentina)Co-authors: Gastón Repetto (Banco Central de la República Argentina)

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LACEA: EARLY CHILDHOODEXPLAINING THE URBAN-RURAL GAP IN COGNITIVE ACHIEVEMENT IN PERU: THE ROLE OF EARLY CHILDHOOD AND SCHOOL INFLUENCESJuan Castro (Universidad del Pacífico)

THE IMPACT OF EARLY CHILDHOOD PROGRAMS IN DEVELOPING NON-COGNITIVE SKILLS, THE EFFECTS ON FUNCTIONAL AND MONO PARENTAL FAMILIES: THE CASE OF BUEN COMIENZO ANTIOQUIAJuan Fernando Henao Duque (Universidad EAFIT)Co-authors: Gustavo Canavire-Bacarreza (Universidad EAFIT)

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CONCURRENT VALIDITY AND FEASIBILITY OF SHORT TESTS CURRENTLY USED TO MEASURE EARLY CHILDHOOD DEVELOPMENT IN LARGE SCALE STUDIESMarta Rubio-Codina (Inter-American Development Bank)Co-authors: M. Caridad Araujo (Inter-American Development Bank) Orazio Attanasio (University College London) Sally Grantham-McGregor (University College London)

LACEA: EDUCATION TEACHINGLABOR MARKET CONDITIONS OF PUBLIC SECTOR TEACHERS: CAUSAL EVIDENCE FROM COLOMBIA DARÍO MALDONADO (UNIVERSIDAD DE LOS ANDES)Co-authors: Juan Saavedra (University of Southern California) Lucrecia Santibañez (Claremont Graduate University) Mariana Alfonso (Inter-American Development Bank) Luis Omar Herrera-Prada (Inter-American Development Bank) UNDER THE “CLOAK OF INVISIBILITY”: GENDER BIAS IN TEACHING PRACTICES AND LEARNING OUTCOMESMarina Bassi (Inter-American Development Bank)Co-authors: Mercedes Mateo (Inter-American Development Bank) Rae Blumberg (University of Virginia)

THROUGH THE LOOKING GLASS: CAN CLASSROOM OBSERVATION AND COACHING IMPROVE TEACHER PERFORMANCE IN BRAZIL?Nina Menezes Cunha (Stanford University)Co-authors: Barbara Bruns (Center For Global Development) Leandro Costa (The World Bank)

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LACEA: INTERNATIONAL TRADE BACK TO THE FUTURE: TRADE COSTS AND THE TWO GLOBALIZATIONSJules Hugot (Pontificia Universidad Javeriana)Co-authors: Michel Fouquin (Centre d’Etudes Prospectives et d’Informations Internationales)

QUALITY AND NON CONVERGENCE OF PRICES IN TRADELeandro Zipitria (Universidad de la República Departamento de Economía)Co-authors: Fernando Borraz (Banco Central del Uruguay)

TRADE LIBERALIZATION IN TIME OF RISING FOOD PRICES : EVIDENCE FROM INDONESIA DURING THE 2000SJérémie Gignoux (Paris School of Economics)Co-authors: Marta Menendez (Paris-Dauphine University) Akiko Suwa-eisenmann (Paris School of Economics)

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LACEA: URBAN ECONOMICS LOCATION-ALLOCATION OF PUBLIC SERVICES – CITIZEN ACCESS, TRANSPARENCY AND MEASUREMENTAnders Fredriksson (University of São Paulo)

BIG DATA AND A SPATIAL HEDONIC APPROACH: ADDRESSING THE LAND MARKET INFORMATION GAP AND ESTIMATING LAND PRICES DETERMINANTS IN METROPOLITAN REGIONS FROM DEVELOPING COUNTRIES.Cynthia Goytia (Univerisdad Torcuato Di Tella,)Co-authors: Guadalupe Dorna (Univerisdad Torcuato Di Tella,)

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SHELTER FROM THE STORM: UPGRADING HOUSING INFRASTRUCTURE IN LATIN AMERICAN SLUMSRaimundo Undurraga (New York University)Co-authors: Sebastian Galiani (University of Maryland) Paul Gertler (University of California, Berkeley) Ryan Cooper (Cientifika) Sebastian Martinez (Inter-American Development Bank) Adam Ross (Gates Foundation)

LACEA - LAMES: EARLY CHILDHOODTHE EFFECTS OF MATERNITY LEAVE ON CHILDREN’S ABILITIES AND MOTHER’S OUTCOMES. EVIDENCE FROM A MATERNITY LEAVE REFORM IN CHILEPinjas Albagli (Pontificia Universidad Catolica de Chile)Co-authors: Tomas Rau (Pontificia Universidad Catolica de Chile)

MEN, WOMEN AND CAPITAL: ESTIMATING SUBSTITUTION PATTERNS USING A SIZE AND GENDER-DEPENDENT CHILDCARE POLICY IN CHILEJose Tessada (Pontificia Universidad Catolica de Chile)Co-authors: Diego Escobar (Poverty Action Lab LAC)Jeanne Lafortune (Pontificia Universidad Catolica de Chile)

HELPING CHILDREN CATCH UP: EARLY LIFE SHOCKS AND THE PROGRESA EXPERIMENTTeresa Molina (University of Southern California)Co-authors: JORGE ANDRES TAMAYO (UNIVERSITY OF SOUTHERN) Achyuta Adhvaryu (University of Michigan) Anant Nyshadham (Boston College)

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LACEA: HIGHER EDUCATIONJOB MISMATCH: DETERMINANTS AND EFFECTS OF THE ASSIGNMENT PROCESS IN THE LABOR MARKETMonica Ospina (Universidad EAFIT)Co-authors: Juan Jose Estrada (Universidad EAFIT)

THE EXPANSION OF HIGHER EDUCATION IN COLOMBIA: BAD STUDENTS OR BAD PROGRAMS?Julián Messina (Inter-American Development Bank)Co-authors: Adriana Camacho (Universidad de los Andes) Juan Pablo Uribe (University of Brown)

ACCESSING HIGHER-EDUCATION IN DEVELOPING COUNTRIES:PANEL DATA ANALYSIS FROM INDIA, PERU, AND VIETNAMAlan Sanchez (Grupo de Análisis para el Desarrollo - GRADE)Co-authors: Abhijeet Singh (UCL)

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LACEA: GROWTH AND DEMOCRACYDEMOCRACY DOES NOT CAUSE GROWTH: THE IMPORTANCE OF ENDOGENEITY ARGUMENTSGuillermo Vuletin (Inter-American Development Bank)Co-authors: Julia Ruiz Pozuelo (The Brookings Institution)Amy Slipowitz (Columbia University)

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FIRM DYNAMICS IN THE NEOCLASSICAL GROWTH MODELOmar Licandro (University of Nottingham)

MICROECONOMIC SOURCES OF AGGREGATE PRODUCTIVITY GROWTHAlvaro Garcia Marin (Universidad de Chile)Co-authors: Ana Paula Cusolito (The World Bank) William F. Maloney (The World Bank)

LACEA: POLITICAL ECONOMY THE LIMITS OF PROPAGANDA: EVIDENCE FROM CHAVEZ’S VENEZUELAAna tribin (Banco de la república de Colombia)Co-authors: Brian Knight (Brown University) SHARING OIL RENTS, AND POLITICAL VIOLENCE: THEORY AND EVIDENCETito Cordella (The World Bank)Co-authors: Harun Onder (The World Bank)

NATIONAL INSTITUTIONS AND REGIONAL DEVELOPMENT AT BORDERS: EVIDENCE FROM THE AMERICASFrancisco Gallego (Pontificia Universidad Catolica de Chile)Co-authors: Cristobal Otero (London School of Economics) Alejandro Saenz (Pontificia Universidad Catolica de Chile)

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LACEA: LABOR NATURAL RESOURCES, REDISTRIBUTION AND HUMAN CAPITAL FORMATIONCarlos Balcazar (The World Bank)Co-authors: Jorge Aguero (University of Connecticut) Stanislao Maldonado (Universidad del Rosario) Hugo Ñopo (GRADE) THE EFFECT OF THE KANGAROO MOTHER CARE PROGRAM (KMC) ON WAGES: A STRUCTURAL MODELDarwin Cortes (Universidad del Rosario)Co-authors: Orazio Attanasio (University College London) Juan Miguel Gallego (Universidad del Rosario) Darío Maldonado (Universidad de Los Andes) Paul Rodriguez (University College London) FEAR OF LABOR RIGIDITIES: THE ROLE OF EXPECTATIONS ON EMPLOYMENT GROWTH IN PERUPablo Lavado (Universidad del Pacífico)Co-authors: Gustavo Yamada (Universidad del Pacífico) Gonzalo Rivera (The World Bank)

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LACEA - LAMES: FISCAL POLICY OPTIMAL TAXATION WITH TIME-INCONSISTENT AGENTSPei Cheng Yu (University of Minnesota)

MONETARY UNION WITH UNSTABLE FISCAL RULESJoao Paulo Valente (BBM Investiments)Co-authors: Tiago Berriel (PUC-Rio)

REASSESSING FISCAL POLICY THROUGH THE LENS OF THE FINANCIAL AND THE COMMODITY PRICE CYCLESEnrique Alberola (Bank for International Settlements)Co-authors: Ricardo Sousa (Bank for International Settlements)

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LAMES: INTERNATIONAL TRADEBANK LINKAGES AND INTERNATIONAL TRADEJulian Caballero (Inter-American Development Bank)Co-authors: Galina Hale (Federal Reserve Bank of San Fransico) Chris Candelaria (Stanford University)

INTERNATIONAL RELOCATION OF PRODUCTION AND GROWTHFrancisco Alcalá (Universidad de Murcia)Co-authors: Marta Solaz (Universitat de Valencia)

FINANCIAL FRICTIONS AND EXPORT DYNAMICS IN LARGE DEVALUATIONSDavid Kohn (Universidad Torcuato Di Tella)

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LACEA - LAMES: EVALUATING THE EFFECTS OF THE REFORM TO PAYROLL AND INCOME TAXES IN COLOMBIA 2 ASSESSING THE EFFECT OF PAYROLL TAXES ON FORMAL EMPLOYMENT: THE CASE OF THE 2012 TAX REFORM IN COLOMBIAFabio Morales (Banco de la República de Colombia)Co-authors: Carlos Medina (Banco de la República de Colombia) EVALUACIÓN DEL IMPACTO DE LA REFORMA TRIBUTARIA DE 2012 A TRAVÉS DE EQUILIBRIO GENERALRoberto Steiner (Fedesarrollo)Co-authors: David Forero (Fedesarrollo)

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LACEA: MIGRATIONUNEMPLOYED, NOW WHAT?: THE EFFECT OF IMMIGRATION ON UNEMPLOYMENT TRANSITIONS OF NATIVE WORKERS IN THE USFernando Rios-Avila (Levy Economics Institute)Co-authors: Gustavo Canavire-Bacarreza (Universidad EAFIT)

HETEROGENEOUS CLIMATE PREFERENCES OF MIGRANTS: BOILING PHOENIX OR SHIVERING BOSTON?Antonia Schwarz (University of Sussex)

ON THE IMPLICATIONS OF IMMIGRATION POLICY RESTRICTING CITIZENSHIP: EVIDENCE FROM THE DOMINICAN REPUBLICCatalina Amuedo-Dorantes (San Diego State University)Co-authors: Susan Pozo (Western Michigan Universtiy) Carlos Manuel Gratereaux-Hernández (Dominican Republic Central Bank)

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15:50 to 17:20 INVITED SESSION 4BANK RISK, MACRO-PRUDENTIAL POLICY AND MICRO DATAThis session is sponsored by the Bank for International Settlements Session Chair: Enrique Alberola

MACROPRUDENTIAL POLICY AND BANK RISKLeonardo Gambacorta (Bank for International Settlements) Co-authors:Yener Altunbas (ECB and Central Bank of Turkey), Mahir Binici (University of Wales)

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EFFECTOS OF MACROPRUDENTIAL POLICIES ON BANK RISK TAKINGFabrizio Lopez Gallo (Banco de Mexico)Co-authors:Gabriel Levin (Banco de Mexico), Calixto Lopez (Banco de Mexico)

MACROPRUDENTIAL POLICY AND BANKS’ RISK TAKING: THE COLOMBIAN EXPERIENCE Esteban Gomez (Banco de la República de Colombia)Co-authors: Angelica Lizarazo (Banco de la República de Colombia), Juan Carlos Mendoza (Banco de la República de Colombia), Andres Murcia (Banco de la República de Colombia)

EDUCATION QUALITY IN DEVELOPING COUNTRIESThis session is sponsored by the World Bank and the Inter-American Development Bank Session Chair: Maria Marta Ferreyra

MAINSTREAMING AND EFFECTIVE INTERVENTION: EVIDENCE FROM RANDOMIZED EVALUATIONS OF “TEACHING AT THE RIGHT LEVEL” IN INDIAEsther Duflo (MIT) Co-authors: Abhijit Banerjee (MIT), Rukmini Banerji (ASER Centre and Pratham), James Berry (Cornell University), Harini Kannan (JPAL), Shobhini Mukerji (JPAL), Marc Shotland (MIT), and Michael Walton (Harvard) MULTIDIMENSIONAL SCHOOL QUALITYMiguel Urquiola (Columbia Univeristy)

CLASSROM EFFECTS ON CHILD LEARNING: MAGNITUDE, DEPRECIATION, AND COMPLEMENTARITIESNorbert Schady (Inter-American Development Bank )Co-authors: Pedro Caneiro (University College of London) and Yyannu Cruz-Aguayo (Inter-American Development Bank)


INNOVATION AND PRODUCTIVITY IN LAC: WHAT HAVE WE LEARNT?This session is sponsored by the innovation network (Universidad del Rosario, Inter-American Development Bank and Universidad EAFIT) Session Chair: Jose Miguel Benavente

FIRM INNOVATION AND PRODUCTIVITY IN LAC THE ENGINE OF ECONOMIC DEVELOPMENT Matteo Grazzi (Inter-American Development Bank) and Carlo Pietrobelli (Inter-American Development Bank)INNOVATION EFFORTS AND PRODUCTIVITY DYNAMICS: EVIDENCE FROM COLOMBIA MANUFACTURING FIRMSJuan Miguel Gallego (Universidad del Rosario)

Comments: Eric Verhoogen (Columbia University)

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FISCAL POLICY This session is sponsored by LAMES – LACEASession Chair: Christian Posso

DEBT OVERHANG AND FISCAL SPACE ACROSS COUNTRIES AND TIMEJoshua Aizenman (University of Southern California) Co-authors:Yothin Jinjarak (Victoria University of Wellington)

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NON-LINEAR EFFECTS OF TAX CHANGES ON OUTPUTS: A WORLDWIDE NARRATIVE APPROACHCarlos Vegh (Johns Hopkins University)Co-authors:Samara Gunter (Colby College), Daniel Riera-Crichton (Bates College), Guillermo Vuletin (Inter-American Development Bank)

LAMES SIMOENSEN LECTURE This session is sponsored by LAMESSession Chair: Sergio Firpo

DEMOGRAPHICS, REAL INTEREST RATES AND MONETARY POLICYCarlos Vianha de Carvalho (Central Bank of Brazil and PUC-Rio)

HETEROGENEOUS FIRMS: SKILLED-LABOR PRODUCTIVITY AND THE DESTINATION OF EXPORTSIrene Brambilla (Universidad de La Plata)Co-authors:Jorge Balat (Johns Hopkins University), Yuya Sasaki (Johns Hopkins University).

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BAYESIAN METHODS FOR ECONOMETRICSThis session is sponsored by Universidad EAFIT and LAMESSession Chair: Andres Ramirez Hassan

A FRAMEWORK FOR ELICITING, INCORPORATING, AND DISCIPLINING IDENTIFICATION BELIEFS IN LINEAR MODEL Francis Ditranglia (University of Pennsylvania) Co-authors:Camilo Garcia-Jimeno (University of Pennsylvania)

OBJECTIVE PRIORS FOR MODEL SELECTION AND HYPOTHESIS TESTING: THE INTRINSIC PRIOR APPROACH Raul Perichi (Universidad de Puerto Rico)Co-authors:Elias Moreno (Universidad de Granada)

FOCUSED ECONOMETRIC ESTIMATION: THE INTERPLAY BETWEEN THE BAYESIAN AND THE FREQUENTIST APPROACHES Andres Ramirez Hassan (Universidad EAFIT)

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DOLLAR CYCLES, EXCHANGE RATE PASS-THROUGH, AND CORPORATE VULNERABILITIES | Session Chair: Nicolas Magud

COLLATERAL DAMAGE: DOLLAR STRENGTH AND EMERGING MARKETS GROWTHNicolas E. Magud (International Monetary Fund)Co-authors:Pablo Druck (International Monetary Fund), Rodrigo Mariscal (International Monetary Fund)Discussant: Alberto Martin (CREI)

EXCHANGE RATE PASS-THROUGH: FIRST- VS. SECOND-ROUND EFFECTSBertrand Gruss (International Monetary Fund)Co-authors:Yan Carriere-Swallow (International Monetary Fund), Nicolas E. Magud (International Monetary Fund), Fabian Valencia (International Monetary Fund)Discussant: Andrew Powell (Inter-American Development Bank)

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UNDERSTANDING CORPORATE VULNERABILITIES IN LATIN AMERICACarlos Caceres (International Monetary Fund)Co-authors:Fabiano Rodrigues-Bastos (Inter-American Development Bank)Discussant: Sergio Schmukler (World Bank)

INFORMATION AND POLITICS IN AN ONLINE WORLDSession Chair: Omar Licandro

MOBILE PHONES, SOCIAL MEDIA, AND THE BEHAVIOR OF POLITICIANS: EVIDENCE FROM BRAZILPedro Souza (PUC-Rio) Co-authors:Claudio Ferraz (PUC-Rio)

SOCIAL MEDIA AND COLLECTIVE ACTIONLeopoldo Ferguson (Universidad de Los Andes)Co-authors:Carlos Molina (Universidad de Los Andes)

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17:25 to 18:25 KEYNOTE LECTURE 6This session is sponsored by LACEASession Chair: Carlos Medina

THE ECONOMIST AS PLUMBER: LAYING THE PIPES, FIXING THE LEAKSEsther Duflo (MIT)

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17:25 to 18:25 KEYNOTE LECTURE 7This session is sponsored by LAMESSession Chair: Gustavo Canavire-Bacarreza

ECONOMIC POLICY AND GROWTHFinn Kydland (University of California, Santa Barbara)


20:00 to 24:00 DINNER ORQUIDEORAMABuses depart from Universidad EAFIT


SATURDAY NOVEMBER 12th•2016



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8:00 to 9:30 CONTRIBUTED SESSION 4

LACEA: FINANCIAL ECONOMICSINFORMED TRADING IN BUSINESS GROUPS, OWNERSHIP CONCENTRATION, AND MARKET LIQUDITYAlvaro Pedraza (The World Bank)Co-authors: Miguel Leaño (The World Bank)

WHO KNOWS BETTER IN AN EMERGING MARKET? PERFORMANCE OF INSTITUTIONS, FOREIGNERS AND INDIVIDUALSDiego A. Agudelo (Universidad EAFIT)Co-authors: Paula A. Yepes-Henao (Universidad EAFIT) James Byder (Universidad EAFIT)

FISCAL RULES AND FINANCIAL SYSTEMS: COMPLEMENTS OR SUBSTITUTES?Francisco Parro (Universidad Adolfo Ibanez)Co-authors: Juan Gabriel Fernandez (Universidad de los Andes Chile)

MITIGATING THE RISKS OF FINANCIAL INCLUSION WITH LOAN CONTRACT TERMSDiego Jimenez Hernandez (Stanford University)Co-authors: Enrique Seira (ITAM) Aprajit Mahajan (University of California, Berkeley) Sarah Castellanos (Banco de Mexico)

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LACEA: FINANCIAL ECONOMICSPONZI SCHEMES AND THE FINANCIAL SECTOR: DMG AND DRFE IN COLOMBIAMarc Hofstetter (Universidad de Los Andes)Co-authors: Daniel Mejia (Security Secretariat from Bogota & Universidad de los Andes) Miguel Urrutia (Universidad de Los Andes)

MAKING THE TOUGH CHOICES: DELEGATION AND TEAM SELECTION IN ORGANIZATIONSMiguel Martinez (Universidad de Piura)Co-authors: John Hamman (Florida State University)

SOCIAL STATUS, REPUTATION, FINANCING, AND COMMITMENTRogério Mazali (Catholic University of Brasilia)Co-authors: José Alvaro Rodrigues-Neto (Australian National University)

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LACEA: TOPICS ON FOREIGN EXCHANGEFOREIGN EXCHANGE INTERVENTION UNDER INFLATION TARGETING:A DOUBLE-THRESHOLD GARCH MODELMarco Morales (Universidad Diego Portales)Co-authors: Erwin Hansen (Universidad de Chile)

USING EXCHANGE RATES TO IDENTIFY PRODUCTION-FUNCTION COEFFICIENTSEric Verhoogen (Columbia University)Co-authors: Marcela Eslava (Universidad de Los Andes) Nicolas De Roux (Columbia University)

FOREIGN EXCHANGE INTERVENTION AND THE DUTCH DISEASERuy Lama (International Monetary Fund)

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LACEA: PENSIONSPENSION INCENTIVES AND FORMAL-SECTOR LABOR SUPPLY:EVIDENCE FROM COLOMBIAOscar Becerra (University of British Columbia)

PENSIONS FOR THE POOR: THE EFFECTS OF NON-CONTRIBUTORY PENSIONSIN EL SALVADORSebastian Martinez (Inter-American Development Bank)Co-authors: Luis Tejerina (Inter-American Development Bank)Michelle Perez (Inter-American Development Bank)

GONE WITH THE WIND: DEMOGRAPHIC TRANSITIONS AND DOMESTIC SAVINGPatricio Valenzuela (Universidad de Chile)Co-authors: Eduardo Cavallo (Inter-American Development Bank)Gabriel Sanchez (Inter-American Development Bank)

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LACEA: RISKDOES INFORMAL RISK SHARING INDUCE LOWER EFFORTS?EVIDENCE FROM LAB-IN-THE-FIELD EXPERIMENTS IN RURAL MEXICOJosepa Miquel-Florensa (Toulouse School of Economics)Co-authors: Ingela Alger (Toulouse School of Economics) Laura Juarez (Banco de Mexico) Miriam Juarez Torres (Banco de Mexico)

RISK SHARING WITH HETEROGENOUS PREFERENCESElisa Cavatorta (King’s College London)Co-authors: Orazio Attanasio (University College London)Bansi Malde (Institute for Fiscal Studies)

A HISTORY OF VIOLENCE: THE IMPACT OF EARLY VIOLENCE EXPOSUREON FINANCIAL RISK PREFERENCESMateo Uribe-Castro (University of Maryland)Co-authors: James Byder (Universidad EAFIT)Diego A. Agudelo (Universidad EAFIT)

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LACEA: POLITICAL ECONOMYLOCAL POLITICS AND THE (MIS)ALLOCATION OF PUBLIC SECTOR JOBSEmanuele Colonnelli (Stanford University)Co-authors: Mounu Prem (Stanford University) Edoardo Teso (Harvard University)

COLLECTIVE ACTION AND REPRESENTATION IN AUTOCRACIES:EVIDENCE FROM RUSSIA’S GREAT REFORMSPaul Castañeda Dower (Florida International University)Co-authors: Evgeny Finkel (George Washington University)Scott Gehlbach (University of Wisconsin-Madison) Steve Nafziger (Williams College)

VOTE BUYING OR CAMPAIGN PROMISES? ELECTORAL STRATEGIESWHEN PARTY CREDIBILITY IS LIMITEDRazvan Vlaicu (Inter-American Development Bank)Co-authors: Philip Keefer (Inter-American Development Bank)Marek Hanusch (The World Bank)

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LACEA: INEQUALITY AND GROWTHDYNAMIC RELATIONSHIP BETWEEN INCOME INEQUALITY ANDECONOMIC GROWTH IN URUGUAYLuciana Méndez Errico (Universidad de la República)Co-authors: Bibiana Lanzilotta (Universidad de la República)Juan Gabriel Brida (Universidad de la República)

POLICY RENT SEEKING , GROWTH AND INEQUALITY IN A MODELWITH VORACITY AND HETEROGENEOUS GROUPSPeter Claeys (Vrije Universiteit Brussel)Co-authors: Alessandro Maravalle (Banque de France)

TECHNOLOGICAL CHANGE AND WAGE INEQUALITY IN COLOMBIA: 1984-2014Carmina Vargas (Banco de la república de Colombia)

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LAMES: ENVIRONMENTALWHEN POWER PLANTS LEAVE TOWN: ENVIRONMENTAL QUALITY ANDTHE HOUSING MARKET IN CHINAManuel Hernandez (IFPRI)Co-authors: Guoying Deng (Sichuan University)Shu Xu (Southwestern University of Finance and Economics)

WHAT’S THE COST OF REGULATING THE ENVIRONMENT?AGGREGATE IMPLICATIONS OF CAP-AND-TRADE PROGRAMSEvangelina Dardati (Universidad Alberto Hurtado)Co-authors: Meryem Saygili (University of Texas, Tyler)

HOW GREEN IS SUGARCANE ETHANOL?Marcelo Sant’Anna (Yale University)

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LAMES: ECONOMETRICS SHADOW DIRECTIONAL DISTANCE FUNCTIONS WITH BADS: GMM ESTIMATIONOF OPTIMAL DIRECTIONS AND EFFICIENCIESScott Atkinson (University of Georgia)Co-authors: Mike Tsionas (Lancaster University Management School)

THE TRIANGULAR MODEL WITH RANDOM CEOFFICIENTSStefan Hoderlein (Boston College)

BOOTSTRAPPING DSGE MODELSGiuseppe Cavaliere (University of Bologna)Co-authors: Luca Fanelli (University of Bologna)Giovanni Angelini (University of Bologna)

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LAMES: PRODUCTIVITYBANKRUPTCY AND CROSS-COUNTRY DIFFERENCES IN PRODUCTIVITYJulian Neira (University of Exeter)

THE MACROECONOMIC CONSEQUENCES OF REMITTANCESThomas Lebesmuehlbacher (Miami University)Co-authors: Santanu Chatterjee (University of Georgia)Berrak Bahadir (Özyegin University)

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EXPROPRIATION RISK, MISALLOCATION AND AGGREGATE PRODUCTIVITYJOSE IGNACIO LOPEZ (HEC Paris)Co-authors: Virginia Olivella (Banque de France)

LACEA: LABORREDISTRIBUTION WITHOUT DISTORTION: EVIDENCE FROM AN AFFIRMATIVE ACTION PROGRAM AT A LARGE BRAZILIAN UNIVERSITYLouis-Philippe Morin (University of Ottawa)Co-authors: Thomas Gall (University of Southampton)Fernanda Estevan (University of São Paulo)

CHINESE IMPORT COMPETITION EFFECTS ON DOMESTIC FIRMS:DISENTANGLING THE ROLE OF FIRMS ON LABOR MARKETSRoman David Zarate Vasquez (University of California, Berkeley)

FIRMS AND THE DECLINE IN EARNINGS INEQUALITY IN BRAZILJorge Alvarez (Princeton University)Co-authors: Christian Moser (Princeton University)Niklas Engbom (Princeton University)Felipe Benguria (University of Kentucky.)

WAGE INEQUALITIES, PATTERNS OF SKILL PREMIA, AND ELASTICITIES OFSUBSTITUTION IN DEVELOPING COUNTRIESMarcio Cruz (The World Bank)Co-authors: Emmanuel Milet (University of Geneva)

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LACEA: BANKINGCURRENCY MISMATCH IN THE BANKING SECTOR IN LATIN AMERICAAND THE CARIBBEANMartín Tobal (Banco de Mexico)

DOES LIQUIDITY RISK PREMIUM AFFECT OPTIMAL PORTFOLIO HOLDINGS OF U.S TREASURY SECURITIES?Karoll Gomez (Universidad Nacional de Colombia)

RECLASSIFICATION RISK IN THE SMALL GROUP HEALTH INSURANCE MARKETSebastian Fleitas (University of Arizona)Co-authors: Gautam Gowrisankaran (University of Arizona) Anthony LoSasso (University of Illinois, Chicago)

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LACEA - LAMES: TOPICS ON LABOR ECONOMICSENFORCEMENT OF LABOR MARKET REGULATIONS: HETEROGENEOUS COMPLIANCE AND ADJUSTMENT ACROSS GENDERMariana Viollaz (CEDLAS-UNLP)

BRIGHT MINDS, BIG RENT: GENTRI CATION AND THE RISING RETURNS TO SKILLCecilia Machado (EPGE-FGV)Co-authors: Lena Edlund (Columbia University)Maria Micaela Sviatschi (Columbia University)

THE SOFT PART OF WAGES: PANEL DATA EVIDENCE FOR CHILEIsidora Palma (Universidad de Chile)Co-authors: Dante Contreras (Universidad de Chile) Jorge Lira (Universidad de Chile)

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LACEA - LAMES: TOPICS ON CENTRAL BANKINGIDENTIFYING THE STANCE OF MONETARY POLICY AT THE ZERO LOWER BOUND: A MARKOV-SWITCHING ESTIMATION EXPLOITING MONETARY-FISCAL POLICY INTERDEPENDENCEManuel Gonzalez (Federal Reserve Board)

MONETARY POLICY CREDIBILITY AND THE COMOVEMENT BETWEEN STOCKRETURNS AND INFLATIONEurilton Araújo (Banco Central do Brasil)

THE RISK CHANNEL OF UNCONVENTIONAL MONETARY POLICYDejanir Silva (MIT)

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LAMES: INDUSTRIAL ORGANIZATIONOPTIMAL DEFENSIVE PATENT INSURANCE CONTRACTSJorge Lemus (University of Illinois, Urbana-Champaign)Co-authors: Emil Temnyalov (UTS) John L Turner (University of Georgia)

THE JOY OF FLYING: EFFICIENT AIRPORT PPP CONTRACTSRonald Fischer (Universidad de Chile)Co-authors: Eduardo Engel (Universidad de Chile)Alexander Galetovic (Universidad de Los Andes)

VAGUENESS IN MULTIDIMENSIONAL PROPOSALSQiaoxi Zhang (California Institute of Technology)

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LACEA - LAMES: HIGHER EDUCATIONA PASSAGE TO AMERICA: UNIVERSITY FUNDING AND INTERNATIONAL STUDENTSGaurav Khanna (University of Michigan)Co-authors: John Bound (University of Michigan)Breno Braga (Urban Institute) Sarah Turner (University of Virginia)

THE EECTS OF STUDENT LOANS ON THE PROVISION ANDDEMAND FORHIGHER EDUCATIONDavid Zarruk (University of Pennsylvania)Co-authors: Rodrigo Azuero Melo (University of Pennsylvania)

GENDERED SELECTION OF STEM SUBJECTS FOR MATRICULATIONSusan Mendez (The University of Melbourne)Co-authors: Moshe Justman (Ben Gurion)

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LACEA: FISCAL POLICYFISCAL RULES AND SOVEREIGN DEFAULTLaura Alfaro (Harvard University)Co-authors: Fabio Kanczuk (University of São Paulo)

ELECTRONIC VOTING AND SOCIAL SPENDING: THE IMPACT OF ENFRANCHISEMENTON MUNICIPAL PUBLIC SPENDING IN BRAZILMauricio Bugarin (University of Brasilia, UnB)Co-authors: Rodrigo Shneider (University of Illinois)Diloá Athias (University of Illinois)

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INFRASTRUCTURE AND THE OPTIMAL LEVEL OF PUBLIC DEBTJohn Gibson (Georgia State University)Co-authors: Santanu Chatterjee (University of Georgia)Felix Rioja (Georgia State University)

LACEA - LAMES: CRIMEACUTE EFFECT OF NEIGHBORHOOD VIOLENCE ON CHILDREN SOCIAL ANDEMOTIONAL OUTCOMES: EVIDENCE FROM URBAN SETTINGS IN COLOMBIAArturo Harker (Universidad de Los Andes)Co-authors: Andres Molano (Universidad de Los Andes)Juan Camilo Cristancho (Universidad de Los Andes)

EFFECTS OF CHILDHOOD EXPOSURE TO ILLEGAL LABOR MARKETS:KINDLING CRIMINAL PATHSMaria Micaela Sviatschi (Columbia University)

SEPARATING STATE DEPENDENCE, EXPERIENCE, AND HETEROGENEITY INA MODEL OF YOUTH CRIME AND EDUCATIONSalvador Navarro (University of Western Ontario)Co-authors: Antonella Mancino (University of Western Ontario)David Rivers (University of Western Ontario)

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LACEA: INNOVATIONPOST-CONTRACTUAL OPPORTUNISTIC BEHAVIOR AS A BARRIER TO INNOVATION:THE CASE OF CHILEAN FIRMSAlexia Lee González Fanfalone (Toulouse School of Economics)Co-authors: Vicente Lagos (Toulouse School of Economics)Angela Maria Muñoz Acevedo (Microeconomix Economic Consulting)

THE EFFECT OF FIRM TURNOVER ON INNOVATION STRATEGIES: PANEL DATA EVIDENCEPedro Mendi (Universidad de Navarra)Co-authors: Alex Armand (Universidad de Navarra)

QUALITY MANAGEMENT SYSTEM, INNOVATION AND PRODUCTIVITY IN AN EMERGING ECONOMY. THE CASE OF COLOMBIAN MANUFACTURING INDUSTRIESJuan Miguel Gallego (Universidad del Rosario)Co-authors: Luis Gutierrez (Universidad del Rosario)

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LACEA: INDUSTRIAL ORGANIZATIONDYNAMIC EFFECTS OF PRICE PROMOTIONS: A LARGE-SCALE FIELD EXPERIMENTCarlos Noton (University of Chile)Co-authors: Andres Elberg (Universidad Diego Portales)Pedro Gardete (Stanford University) Rosario Macera (Pontificia Universidad Catolica de Chile)

PRICE DISCRIMINATION IN ADVANCE-PURCHASE DISCOUNTS WITH FOCAL POINTSFOR TACIT COLLUSION: REGRESSION-DISCONTINUITY EVIDENCE FROM AIRLINESDiego Escobari (The University of Texas RGV)Co-authors: Nicholas Rupp (East Carolina University)Joseph Meskey (East Carolina University)

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PRICES AND COMPETITION: EVIDENCE FROM A SOCIAL PROGRAMFernando Borraz (Banco Central del Uruguay)Co-authors: Joaquin Saldain (Banco Central del Uruguay)Pablo Blanchard (MIDES) Emilio Aguirre Imbriaco (MGAP)

LACEA: LABORAFFECTIVE NEUROSCIENCE MEETS LABOR ECONOMICS:ASSESSING NON-COGNITIVE SKILLS ON LATE STAGE INVESTMENT ON AT-RISK YOUTHPablo Egana del Sol (Columbia University)

LABOR SUPPLY RESPONSES TO ANTICIPATED INCOME SHOCKSAND CREDIT CONSTRAINTSBenjamin Thompson (University of Michigan)

LIKE FATHER, LIKE SON: OCCUPATIONAL CHOICE AND INTERGENERATIONAL PERSISTENCESalvatore Lo Bello (Universidad Carlos III de Madrid)

INNOVATOR OR SURVIVOR: TWO TALES OF THE SELF-EMPLOYEDJuan Herreño (Columbia University)Co-authors: Sergio Ocampo (University of Minnesota)

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LACEA: EDUCATIONBULLYING IN TEENAGERS: THE ROLE OF COGNITIVE AND NON-COGNITIVE SKILLSSergio Urzúa (University of Maryland)Co-authors: Miguel Sarzosa (Purdue)

MEDIUM TERM EDUCATIONAL CONSEQUENCES OF ALTERNATIVE CONDITIONALCASH TRANSFER DESIGNS: EXPERIMENTAL EVIDENCE FROM COLOMBIAFelipe Barrera-Osorio (Harvard University)Co-authors: Leigh Linden (University of Texas, Austin)Juan Saavedra (University of Southern California)

PEER EFFECTS IN THE DEVELOPMENT OF CAPABILITIES IN ADOLESCENCEAna Balsa (Universidad de Montevideo)Co-authors: Nestor Gandelman (Universidad ORT Uruguay)Flavia Roldan (Universidad ORT Uruguay)

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LACEA: TOPICS ON MACROECONOMICSDEMAND SHOCKS AND ENDOGENOUS UNCERTAINTYDiego Vilán (Federal Reserve Board)

UNEMPLOYMENT, SOVEREIGN DEBT, AND FISCAL POLICY IN A CURRENCY UNIONIgnacio Presno (Federal Reserve Board)Co-authors: Javier Bianchi (Federal Reserve Bank of Minneapolis)Pablo Ottonello (University of Michigan)

ILLIQUIDITY IN SOVEREIGN DEBT MARKETSJuan Passadore (Einaudi Institute)

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9:50 to 11:20 INVITED SESSION 5

PANEL: POLICY AND RESEARCH CHALLENGES FOR CENTRAL BANKS This session is sponsored by Bank of International SettlementsSession Chair: Enrique Alberola

Andres Neumeyer (Banco Central de Argentina)Jose Toro (Banco de la República de Colombia) Carlos Viana de Carvalho (Banco Central do Brazil and PUC-Rio)Jessica Roldan (Banco de Mexico)

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AUCTIONS: THEORY AND EMPIRICS This session is sponsored by LAMESSession Chair: Juan Camilo Chaparro

IDENTIFICATION AND ESTIMATION IN FIRST-PRICE AUCTIONS WITH RISK-AVERSE BIDDERS AND SELECTIVE ENTRYTong Li (Vanderbilt University) Co-authors:Matthew Gentry (London School of Economics)Jingfeng Lu (National University of Singapore)

COMMUNICATION AND COOPERATION IN REPEATED GAMESVijay Krishna (Penn State University)Co-authors:Yu Awaya (University of Rochester)

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POLITICAL ECONOMY OF CLIENTELISM AND CORRUPTION This session is sponsored by LACEA-LAMESSession Chair: Leopoldo Ferguson

VULNERABILITY AND CLIENTELISMGustavo Bobonis (University of Toronto) Co-authors:Marco Gonzales Navarro (University of Toronto)Paul Gertler (University of California, Berkeley)Someon Nichter (University of California, San Diego).

DO GOVERNMENT AUDITS REDUCE CORRUPTION Claudio Ferraz (Ponticia Universidade do Rio de Janeiro)Co-authors:Frederico Finan (Univesity of California, Berkeley)

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THE ECONOMICS OF PRODUCTIVITY This session is sponsored by CAF-Development Bank of Latin AmericaSession Chair: Fernando Alvarez

THE DRIVERS OF POST-ENTRY GROWTH: FTPQ VS DEMAND AND INPUT COSTS Marcela Eslava (Universidad de Los Andes)Co-authors:John Haltiwanger (University of Maryland)

INFORMALITY AND PRODUCTIVITY: THE ROLE OF UNEMPLOYMENT INSURANCE SCHEMES Emilio Espino (Universidad Torcuato Di Tella)

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KEY SECTORS IN ECONOMIC DEVELOPMENT: A PERSPECTIVE FROM INPUT-OUTPUT LINKAGES AND CROSS-SECTOR MISALLOCATION Julio Leal (Banco Central de Mexico )

HIGH DIMENSIONAL MODELS This session is sponsored by Universidad EAFIT and LAMESSession Chair: Monica Ospina

INSTRUMENTAL VARIABLE ESTIMATION IN FUNCTIONAL LINEAR MODELSSebastien Van Bellegem (Universite Catholique de Louvain)Co-authors:Jean-Pierre Florens (Toulouse School of Economics) Inference on social effects when the network is sparse and unknownEric Gauthier (Toulouse School of Economics)Co-authors:Chris Rose (Toulouse School of Economics)

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RISK AND GLOBAL BANKING: AN ASSESSMENT OF RECENT RESEARCH MODELS This session is sponsored by Banco de EspañaSession Chair: José Manuel Marqués

RISK-TAKING, MONETARY POLICY AND BANK BUSINESS MODELSLeonardo Gambacorta (Bank for International Settlements) INTERNATIONAL TRANSMISSION OF RISK THROUGH GLOBAL BANKING Galina Hale (Federal Reserve Bank of San Francisco) MAIN CHANGES ON GLOBAL BANKING FUNDING Adrian Van Rixtel (Banco de España)

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RETHINKING SOCIETY FOR THE 21ST CENTURYThis session is sponsored by the International Panel on Social ProgressAndré Portela de Souza (FGV – Sao Paolo) Doris Tarchopulos Raul Delgado-Wise (Universidad de Zacatecas)

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11:25 to 12:25 KEYNOTE LECTURE 8This session is sponsored by LACEASession Chair: Carlos medina

THE ACCUMULATION AND DIFFUSION OF KNOWHOWRicardo Hausmann (Harvard University)

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11:25 to 12:25 KEYNOTE LECTURE 9This session is sponsored by LAMESSession Chair: David Jacho-Chavez

21ST CENTURY IVAndrew Chesher (University College of London)

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12:25 to 14:00 LUNCH

14:00 to 15:30 Contributed Session 5

LAMES: GROWTHTHE BOUNTY OF THE SEA AND LONG-RUN DEVELOPMENTPablo Selaya (University of Copenhagen)Co-authors: Anne Sofie Beck Knudsen (University of Copenhagen)Carl-johan Dalgaard (University of Copenhagen)

IS THE OUTPUT GROWTH RATE IN NIPA A WELFARE MEASURE?Omar Licandro (University of Nottingham)

PUBLIC DEBT AND ECONOMIC GROWTH: TESTS OF THE REINHART-ROGOFF HYPOTHESISOctavio Tourinho (Universidade do Estado do Rio de Janeiro (UERJ))Co-authors: Rafael Sangoi (Universidade do Estado do Rio de Janeiro (UERJ))

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LACEA: TOPICS ON EDUCATIONTEACHER QUALITY AND LEARNING OUTCOMES IN KINDERGARTENYyannu Cruz Aguayo (Inter-American Development Bank)Co-authors: Norbert Schady (Inter-American Development Bank)Pedro Carneiro (University College London) M. Caridad Araujo (Inter-American Development Bank)

NEW TEACHERS FOR COLOMBIA: IS QUALITY CONTROL WORKING?Zelda Brutti (European University Institute)Co-authors: Fabio Sánchez Torres (Universidad de Los Andes)

DOES REWARDING PEDAGOGICAL EXCELLENCE KEEPS TEACHERS IN THE CLASSROOM? EVIDENCE FROM A VOLUNTARY AWARD PROGRAMAlejandra Ramos (Universidad Autonoma de Barcelona)Co-authors: Samuel Berlinski (Inter-American Development Bank)

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LAMES: EDUCATIONTHE EFFECT OF THE INCREASING DEMAND FOR ELITE SCHOOLS ON STRATIFICATIONRicardo Estrada (European University Institute)

THE EFFECT OF SELECTIVE SCHOOLS: SEPARATING CLASS PRODUCTIVITY FROM CLASS COMPOSITIONPilar Alcalde (Universidad de los Andes Chile)

LEAVE THEM KIDS ALONE! THE POSITIVE EFFECTS OF ABOLISHING GRADE RETENTION ON PUPILS’ DROPOUT RATES: EVIDENCE FROM A POLICY CHANGEFrancisco Cabrera (Centro de Investigación y Docencia Económicas

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LACEA: International TradeTHE PARADOX OF MEXICO´S EXPORT BOOM WITHOUT GROWTH: A DEMAND-SIDE EXPLANATIONLeopoldo Gómez-Ramírez (Universidad del Norte)Co-authors: Joao Paulo de Souza (Middlebury College)

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LAMES: DEBTINCOMPLETE INTEGRATION AND CONTAGION OF DEBT DISTRESS IN ECONOMIC UNIONSCem Karayalcin (Florida International University)Co-authors: Harun Onder (The World Bank)

DEBT FINANCING IN PRIVATE AND PUBLIC FIRMSKim Huynh (Bank of Canada)Co-authors: Teodora Paligorova (Bank of Canada)Robert Petrunia (Lakehead University)

LEARNING ABOUT DEBT CRISESRadek Paluszynski (University of Minnesota)

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LACEA - LAMES: BAYESIAN ECONOMETRICSPROFITING FROM THE ENGLISH PREMIER LEAGUE: OBJECTIVE PREDICTIVE ELICITATION, THE KELLY CRITERION AND BLACK SWANSMateo Graciano (Universidad EAFIT)Co-authors: Andrés Ramírez-Hassan (Universidad EAFIT)

DECENTRALIZATION EFFECTS IN PORTUGUESE ECOLOGICAL FISCAL TRANSFERS – A BAYESIAN STRUCTURAL TIME SERIES APPROACHNils Droste (UFZ - Helmholtz Centre for Environmental Research)Co-authors: Claudia Becker (Martin-Luther University Halle-Wittenberg)Irene Ring (UFZ - Helmholtz Centre for Environmental Research)Rui Santos (Universidade Nova de Lisboa)

WHAT DO LATIN AMERICAN INFLATION TARGETERS CARE ABOUT? A COMPARATIVE BAYESIAN ESTIMATION OF CENTRAL BANK PREFERENCESAntonio Pompa Rangel (Banco de Mexico)Co-authors: Alexander Mihailov (University of Reading)Stephen Mcknight (El Colegio de México)

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LACEA - LAMES: INTERNATIONAL TRADE THE ROLE OF TRADE COSTS IN THE SURGE OF TRADE IMBALANCESRicardo Reyes-Heroles (Princeton University)

THE NOT SO GENERALIZED EFFECTS OF NONRECIPROCAL TRADE AGREEMENTSMarcos Ritel (sao paulo school of economics-fgv)Co-Authors: Emanuel Ornelas (Sao Paulo School of Economics-FGV)

LOCAL EXPORT SPILLOVERS IN A DEVELOPING COUNTRYJorge Chavez (University Of Warwick)

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LACEA - LAMES: Environmental Climate changeCLIMATE CHANGE ADAPTATION THROUGH RESOURCE CONSERVING TECHNOLOGIESMaria Bernedo Del Carpio (Georgia State University)Co-authors: Paul Ferraro (John Hopkins University)

WEATHER, VIOLENCE AND AGRICULTURE IN MEXICO: DISTINGUISHING ECONOMIC AND PSYCHOLOGICAL MECHANISMSAleister Montfort (University of California, San Diego)Co-authors: Gordon McCord (University of California, San Diego)

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THE VARIATION OF EXPORT PRICES ACROSS AND WITHIN FIRMSAsier Minondo (Deusto Business School)Co-authors: Juan De Lucio (Pontificia Universidad de Comillas)Raúl Mínguez (Cámara de España)Francisco Requena (Universidad de Valencia)

THE IMPACT OF RESTRICTIONS ON EXPORTS ON PRODUCTION: A SYNTHETIC CONTROLS APPROACHRodolfo Stucchi (Inter-American Investment Corporation)Co-authors: Ezequiel Garcia Lembergman (University of California, Berkeley)Martín Rossi (Universidad de San Andrés)

LACEA: FISCAL POLICYTOLERANCE OF TAX EVASIONAlvaro Forteza (Universidad de la República)Co-authors: Cecilia Noboa (Universidad de la República)

THE IMPACT OF LOW-COST INTERVENTION ON TAX COMPLIANCE: REGRESSION DISCONTINUITY EVIDENCEGonzalo Sanchez (Escuela Superior Politécnica del Litoral)

OBSERVING TAX EVASION: LOCAL INCENTIVES AND ILLEGAL MININGSantiago Saavedra (Stanford University)Co-authors: Mauricio Romero (UC San Diego)

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LACEA: HEALTHLONG-TERM EFFECTS OF TEMPORARY INCENTIVES ON MEDICAL CARE PRODUCTIVITYPablo Celhay (Pontificia Universidad Catolica de Chile)Co-authors: Paul Gertler (University of California, Berkeley)Paula Giovagnoli (The World Bank) Christel Vermeersch (The World Bank)

ALTERNATIVE SERVICE DELIVERY IN HEALTHCARE: EVIDENCE FROMPHARMACY-ADJACENT DOCTORS’ OFFICES IN MEXICOAdrian Rubli (Brown University)

THE IMPACT OF SUBSIDIZED HEALTH CARE ON FOOD EXPENDITURE AND FOOD INSECURITY: EVIDENCE FROM COLOMBIACamilo Bohorquez Penuela (University of Minnesota)

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LACEA: INDUSTRIAL ORGANIZATIONMULTIPRODUCT RETAILING AND BUYER POWER: THE EFFECTS OF PRODUCT DELISTING ON CONSUMER SHOPPINGDaniel Herrera (Paris School of Economics)Co-authors: Jorge Florez Acosta (Universidad del Rosario)

EFFECTIVENESS OF MERGER REMEDIES: THE CASE OF CHILEAN GASOLINE RETAIL MARKETSVicente Lagos (Toulouse School of Economics)

COMPETITION IN TWO-PART TARIFFS BETWEEN ASYMMETRIC FIRMSJorge Andres Tamayo (University of Southern California and Central Bank of Colombia)Co-authors: Guofu Tan (University of Southern California)

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INTERACTION OF CAPITAL AND PRIVATE INFORMATION IN THE ALLOCATION OF EMISSION PERMITSNicolas Figueroa (Pontificia Universidad Catolica de Chile)Co-authors: Caroline Laplace (Pontificia Universidad Catolica de Chile)

FOODS AND FADS: THE WELFARE IMPACTS OF RISING QUINOA PRICES IN PERUJohanna Fajardo-Gonzalez (University of Minnesota)Co-authors: Marc Bellemare (University of Minnesota) Seth Gitter (Towson University)

LACEA: TOPICS ON CENTRAL BANKINGON CREDIBLE MONETARY POLICIES UNDER MODEL UNCERTAINTYAnna Orlik (Federal Reserve Board)Co-authors: Ignacio Presno (Federal Reserve Board)

MONETARY POLICY UNDER FINANCIAL EXCLUSIONRajesh Singh (Iowa State university)Co-authors: Amartya Lahiri (University of British Columbia)

MONETARY POLICY IN BRAZIL AND ITS TIME-VARYING EFFECTS ON DISAGGREGATE INFLATION DYNAMICSLeonardo Nogueira Ferreira (Banco Central do Brasil)

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LACEA: FISCAL POLICYFISCAL POLICY AND LABOR MARKETS IN LOW INCOME ECONOMIESNathalie Gonzalez Prieto (International Monetary Fund)Co-authors: Alan Finkelstein Shapiro (Tufts University)

LIMITED GOVERNMENT AND FISCAL CAPACITY: EVIDENCE FROM BOURBON MEXICOFrancisco Garfias (Stanford University)

THE WELFARE EFFECTS OF INFRASTRUCTURE INVESTMENT IN A HETEROGENOUS AGENTS ECONOMYFelix Rioja (Georgia State University)Co-authors: John Gibson (Georgia State University)

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LACEA: TOPICS ON INFORMALITY AND RURAL ECONOMICSINFORMAL SECTOR MISALLOCATIONBernabe Lopez Martin (Banco de Mexico)

UNDERSTANDING THE USE OF CREDIT BY COLOMBIAN RURAL HOUSEHOLDSJaime A. Urrego (London School of Economics)

AGGLOMERATION ECONOMIES IN THE PRESENCE OF AN INFORMAL SECTOR. THE COLOMBIAN CASEGustavo A. Garcia (Universidad EAFIT)

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LACEA: LaborHETEROGENEOUS RETURNS TO JOB TRAINING: THE CASE OF CHILEFernando Saltiel (University of Maryland)Co-authors: Sergio Urzúa (University of Maryland)Jorge Rodriguez (The University of Chicago / Princeton University)

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CURSE OF ANONYMITY OR TYRANNY OF DISTANCE? THE IMPACTS OF JOB-SEARCH SUPPORT IN URBAN ETHIOPIAStefano Caria (University of Oxford)Co-authors: Girum Abebe (Ethiopia Development Research Institute)Paolo Falco (OECD)Simon Franklin (London School of Economics) Simon Quinn (University of Oxford)Marcel Fafchamps (Stanford University)

CAN WE LEARN MUCH FROM THE IMPACT EVALUATIONS OF YOUTH TRAINING PROGRAMS? A COMPARISON OF SEVERAL PROGRAMS IN LATIN AMERICA AND THE CARIBBEANOscar Mitnik (Inter-American Development Bank)Co-authors: Laura Ripani (Inter-American Development Bank)David Rosas-Shady (Inter-American Development Bank)

LACEA - LAMES: HIGHER EDUCATIONENDOGENOUS MARKET FORMATION: THEORY AND EVIDENCE FROM CHILEAN COLLEGE ADMISSIONRicardo Espinoza (University of Maryland)Co-authors: Soohyung Lee (University of Maryland)Hector Lopez (University of Maryland)

JUST MAKING THE ADMISSION CUT-OFF: THE IMPACT OF THE OFFER OF ADMISSION TO, AND ENROLLMENT IN, A MORE COMPETITIVE SCHOOL ON THE GRADUATION OUTCOMES OF UPPER-SECONDARY APPLICANTS IN MEXICO CITYMaria Elena Ortega Hesles (ITAM)

EDUCATION AND DECISION-MAKINGFrancisco Perez-Arce (University of Southern California)

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LAMES: PRODUCTIVITYFROM FIRM PRODUCTIVITY DYNAMICS TO AGGREGATE EFFICIENCYBernabe Lopez Martin (Banco de Mexico)

ACCESS TO LONG-TERM CREDIT AND PRODUCTIVITY OF SMALL AND MEDIUM FIRMS:A CAUSAL EVIDENCEPaulo Vaz (Federal University of Pernambuco (UFPE))Co-authors: Tiago Cavalcanti (University of Cambridge and EESP/FGV)

STRUCTURAL CHANGE AND LABOR PRODUCTIVITY IN THE INDUSTRIAL SECTOR. A GLOBAL SCOPE ANALYSISRaúl Vázquez López (Universidad Nacional Autonoma de Mexico)

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LAMES: TOPICS ON CENTRAL BANKINGTHE TRANSMISSION OF MONETARY POLICY SHOCKSGiovanni Ricco (University of Warwick)Co-authors: Silvia Miranda-Agrippino (Bank of England)

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THE ROLE OF CAPITAL REQUIREMENTS AND CREDIT COMPOSITION INTHE TRANSMISSION OF MACROECONOMIC AND FINANCIAL SHOCKSOscar Valencia (Central Bank of Colombia)Co-authors: Daniel Osorio (Central Bank of Colombia)

SIGNALING IN MONETARY POLICY NEAR THE ZERO LOWER BOUNDSergio Salas (Pontificia Universidad Catolica de Valparaiso)

LAMES: RISKADVERSE SELECTION, RISK SHARING AND BUSINESS CYCLESMarcelo Veracierto (Federal Reserve Bank of Chicago)

SOCIALLY CLOSE AND DISTANT CONNECTIONS IN RISK SHARINGBansi Malde (Institute for Fiscal Studies)

ROLLOVER RISK AND THE SOCIAL VALUE OF CREDIBILITYAna Elisa Pereira (Sao Paulo School of Economics-FGV)

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LACEA: CRIMECRIME AND DURABLE GOODSFederico Weinschelbaum (Universidad de San Andres)

MIGRATION AND CRIME: MUNICIPAL HOMICIDE RATES IN BRAZIL 2005-2010Eva-Maria Egger (University of Sussex)

AMBIENT LIGHT AND HOMICIDESBreno Sampaio (Federal University of Pernambuco)Co-authors: Weily Toro Machado (Universidade do Estado de Mato Grosso)Robson Tigre (University of Bologna)

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LACEA - LAMES: INNOVATION AND GROWTHTECHNOLOGICAL DIVERSIFICATION, VOLATILITY AND INNOVATIONMauricio Calani (University of Pennsylvania)

A TALE OF TWO SECTORS: WHY IS MISALLOCATION HIGHER IN SERVICESTHAN IN MANUFACTURING?Daniel Dias (Board of Governors of the Federal Reserve System)Co-authors: Carlos Marques (Bank of Portugal)Christine Richmond (IMF)

PYRAMID CAPITALISM: CRONYISM, REGULATION AND EMPLOYMENT GROWTHMarc Schiffbauer (The World Bank)Co-authors: Philip Keefer (Inter-American Development Bank)Ishac Diwan (Universite Paris-Dauphine)

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LAMES: GAME THEORYTHE HOLD-UP PROBLEM AND COMPETITION IN DELEGATED COMMON AGENCYGuillem Roig (Universidad del Rosario)

FOCALITY AND ASYMMETRY IN MULTI-BATTLE CONTESTSDan Kovenock (Chapman University)Co-authors: Subhasish M. Chowdhury (University of East Anglia)David Rojo Arjona (University of Leicester)Nathaniel T. Wilcox (Chapman University)THE SUBGAME PERFECT COREMyrna Wooders (Vanderbilt University)Co-authors: Parkash Chander (Jindal School of Government and Public Policy O.P. Jindal Global University)

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LACEA: INNOVATIONMEASURING SPILLOVERS IN TECHNOLOGY ADOPTION PROGRAMS:A TWO-STAGE RANDOMIZED CONTROL TRIAL IN THE DOMINICAN REPUBLICAlessandro Maffioli (Inter-American Investment Corporation)Co-authors: Julian Aramburu (Inter-American Development Bank)Lina Salazar (Inter-American Development Bank)

IN SERCH OF LARGER PER CAPITA INCOMES: HOW TO PRIORITIZE ACROSS PRODUCTIVITY DETERMINANTS?Alejandro Izquierdo (Inter-American Development Bank)Co-authors: Jose Juan Ruiz (Inter-American Development Bank)Jimena Llopis (Columbia University)Umberto Muratori (Georgetown University)

PRODUCTIVITY MEASURES FOR THE COLOMBIAN MANUFACTURING INDUSTRYCamila Casas (Banco de la República de Colombia)Co-authors: Alejandra González (Banco de la República de Colombia)

ROOM38-110

LACEA: CAPITAL FLOWSOUTPUT GAPS AND POLICY STABILISATION IN LATIN AMERICA. THE EFFECT OF COMMODITY AND CAPITAL FLOWS CYCLESEnrique Alberola (Bank for International Settlements)Co-authors: Rocio Gondo (Bank for International Settlements)Marco Lombardi (Bank for International Settlements)Diego Urbina (Bank for International Settlements)

THE SECOND WAVE OF GLOBAL LIQUIDITY: WHY ARE FIRMS ACTING LIKE FINANCIAL INTERMEDIARIES?Andrew Powell (Inter-American Development Bank - Research Dept.)Co-authors: Julian Caballero (Inter-American Development Bank - Research Dept.)Ugo Paniza (The Graduate Institute for International and Development Studies, Geneva)

FDI BEHAVIOR AND THE SUBPRIME CRISIS: AN EMPIRICAL ANALYSIS FOR LATIN AMERICAN AND ASIAN COUNTRIESPriscila Castro (Instituto Federal de Mato Grosso (IFMT) / UFV)Co-authors: Antônio Campos (Universidade Federal de Viçosa (UFV))

ROOM38-101


78

SATU

RDAY

NOVE

MBE

R 1

2TH 2

016

15:50 to 16:50 KEYNOTE LECTURE 8This session is sponsored by LACEASession Chair: Eduardo Lora

INVESTMENT IN HUMAN CAPITAL AND INEQUALITY: AN OPPORTUNITY AND A CHALLENGE FOR POLICY MAKERSCarlos Diaz Alejandro PrizeOrazio Attanasio (University College of London)

AUDITORIOFUNDADORES

15:50 to 16:50KEYNOTE LECTURE 9This session is sponsored by LAMESSession Chair: Leonardo Morales

THE IMPLEMENTATION DUALITYLarry Samuelson (Yale University)

AUDITORIO38-101

Photo: Luis Echeverri Urrea / Shutterstock.com

80

SCHEDULEDAY / TIME NOVEMBER 10 DAY / TIME NOVEMBER 11 DAY / TIME NOVEMBER 12

7:30-8:00Registration 8:00 -9:30 CONTRIBUTED SESSIONS 2 8:00 -9:30 CONTRIBUTED SESSIONS 4

8:00-8:30

8:30-9:45 Opening Ceremony 9:30- 9:50 Coffee Break 9:30- 9:50 Coffee Break

9:45- 10:00 Coffee Break 9:50- 11:20 INVITED SESSIONS 3 9:50- 11:20 INVITED SESSIONS 5

10:00 -11:00

PLENARY SESSIONS 1LACEA: Edmund Phelps

(Conalpe Sponsored Session) LAMES: Mathew

Jackson

11:20-11:25 11:20-11:25

11:00 - 11:05 11:25: 12:25PLENARY SESSION 3

Presidential Address ES Eddie Dekel

11:25: 12:25PLENARY SESSIONS 5

LACEA: Ricardo Hausman LAMES: Andrew Chesser

11:05 -12:35 INVITED SESSIONS 1 12:25-14:00 Lunch 12:25-14:00 Lunch

12:35 -14:00 Lunch 14:00- 15:30 CONTRIBUTED SESSIONS 3 14:00- 15:30 CONTRIBUTED SESSIONS 5

14:00 -15:30 CONTRIBUTED SESSIONS 1 15:30 -15:50 Coffee Break 15:30 -15:50 Coffee Break

15:30-15:50 Coffee Break 15:50 - 17:20 INVITED SESSIONS 4 15:50 - 16:50

PLENARY SESSIONS 6LACEA: Orazio Attanasio

(Carlos Diaz Alejandro Prize) LAMES: Larry Samuelson

15:50 -17:20 INVITED SESSIONS 2 17:20- 17:25

17:20 -17:25 17:25- 18:25PLENARY SESSIONS 4 LACEA: Esther DufloLAMES: Finn Kydland

17:25- 18:25PLENARY SESSIONS 2LACEA: Abihidit Banerje

LAMES: Ellie Tamer20:00 - 24:00 Dinner- Orquideorama

19:00 - 21:00 Welcome Cocktail -Museo de Arte Moderno

INVITED SECCIÓN PLENARY SESSIONS CONTRIBUTED SESSIONS


LACEALAMESNovember 2016

Medellín, Colombia

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