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Thirteenth Annual Missouri Economics Conference

March 22 - 23, 2013
University of Missouri - Columbia
Hosted by:
The Department of Economics at the University of Missouri Columbia
and the Research Division of the Federal Reserve Bank of St. Louis

Friday, March 22, 2013

Continental Breakfast - 8:00 a.m.
(alcove next to Registration Table)

Concurrent Session I – 9 a.m.-11 a.m.

A: Room 204 - Economics of Education

“Race and College Success: Evidence from Missouri”
Cory Koedel (University of Missouri-Columbia)

“What Is the Incidence of State Merit-based Aid to Resident University Students: Evidence from Tennessee Education Lottery Scholarships”
Senay Topal (University of Houston)

B: Room 208A - Life Cycle

“The Link between Retirement Wealth and Retirement Timing of Faculty”
Ioana Sofia Pacurar (University of Memphis)

“Survival and Retirement: Applying Statistical Survival Model to Couple’s Retirement Decisions”
Cai Hu (University of Missouri-Columbia)

“The Aggregate Implication of Labor Supply near Retirement”
José Mustre-del-Rio (Federal Reserve Bank of Kansas City)

C: Room 208C - Financial Economics I

"Equity Risk as a Determinant of Future Term-Structure Volatility”
Naresh Bansal (Saint Louis University)

“Endogenous Information Asymmetry and Portfolio Bias”
Rosen Valchev (Duke University)

“Does Commonality in Illiquidity Matter to Investors?”
Richard Anderson (Federal Reserve Bank of St. Louis)

D: Room 208D - Industrial Organization

“Pricing Strategies in Advance Selling: Should a Retailer Offer Pre-order Price Guarantee?”
Oksana Loginova (University of Missouri-Columbia)

“Competition between Legal Information Goods and Peer-to-Peer Network Hosts”
Jason Walter (Kansas State University)

“The Effect of the Quality and Information on the Price of Used Cars in Turkey”
Haktan Sarikaya (Texas Tech University)

E: Room 211 - Mechanism Design

“Capital Intensity and Search Costs in Firm Integration and Market Power”
Manitra Rakotoarisoa (Food and Agriculture Organization of the United Nations)

“Political competition over property rights enforcement”
Jan Auerbach (Washington University in St. Louis)

Refreshment Break – Coffee, Juice, Tea, Soda – 11 a.m.-11:30 a.m.
(alcove next to Registration Table)

Concurrent Session II – 11:30 a.m.-1:30 p.m.

A: Room 204 - Business Cycles I

“Maybe It was Mr. Hick’s Father’s Recession”
Malcolm Harris (Friends University)

“Costly Financial Intermediation and Relative Consumption Volatility”
Ayse Sapci (Vanderbilt University)

“Environmental Pollution and Subjective Well-Being in China”
Julia Brandes (University of Kansas)

B: Room 208A - Monetary Policy

“How Effective is Central Bank Forward Guidance?”
Daniel Thornton (Federal Reserve Bank of St. Louis)

“Interest Rate Trap, or: Why Does the Central Bank Keep the Policy Rate too Low for too Long Time?"
Jin Cao (Norges Bank)

“Deriving the Taylor Principle when the Central Bank Supplies Money”
Max Gillman (Cardiff Business School)

C: Room 208C - International Economics

“The Impacts of Various Taxes on Foreign Direct Investment”
“The Impact of Taxes on Trade Competitiveness”
Stacie Beck (University of Delaware)

“International Trade, Female Labor, and Entrepreneurship in MENA Countries”
Silvio Contessi (Federal Reserve Bank of St. Louis)

“Does public education spending increase human capital?”
Mercy Laita Palamuleni (Kansas State University)

D: Room 208D - Macroeconomics Policy I

“Sorting Out Keynesian Economics: A New Monetarist Approach”
Steve Williamson (Washington University in St. Louis)

“The Observational Equivalence of Monetary and Fiscal Policy Interactions”
Fei Tan (Indiana University)

“Kinked demand curves, the natural rate hypothesis, and macroeconomic stability”
Willem Van Zandweghe (Federal Reserve Bank of Kansas City)

E: Room 211 - Economic Policy

“Uncertainty and Fiscal Cliffs”
Andrew Foerster (Federal Reserve Bank of Kansas City)

“Codes of Conduct and Bad Reputation”
Juan Block (Washington University in St. Louis)

Lunch Break – Deli Buffet – 1:30 p.m.-2:30 p.m.
(Alcove next to Registration Table) Name Tag admits you to lunch.

Concurrent Session III – 2:30 p.m. - 4:30 p.m.

A: Room 204 - Microeconomic Theory

“Bounded-Rationality Models: Tasks to Become Intellectually Competitive”
Ron Harstad (University of Missouri-Columbia)

“Decentralized Bribery and Market Participation”
Sergey Popov (National Research University Higher School of Economics)

“Interjurisdictional Competition with Adverse Selection”
Rubén Hernández-Murillo (Federal Reserve Bank of St. Louis)

B: Room 208A - Applied Microeconomics I

“Two can live as cheaply as one…But three’s a crowd”
Chris Bollinger (University of Kentucky)

“Mandatory Arrest, Recommended Arrest, and Intimate Partner Violence”
Yoo-Mi Chin (Missouri Science and Technology)

“An Evaluation of the Impact of Evidentiary Reforms on Growth in Healthcare Costs”
Rachel Childers (University of Kansas)

C: Room 208C – Financial Crisis and Policy

“Capital Controls or Real Exchange Rate Policy?: A Pecuniary Externality Perspective”
Chris Otrok (University of Missouri-Columbia)

“Did the LSAP Effects Last?”
Christopher Neely (Federal Reserve Bank of St. Louis)

“Is All Debt Created Equal?”
Jarrod Hunt (University of Houston)

D: Room 208D - Macroeconomics Policy II

“Estimating Emerging Market Business Cycles: Does Heterogeneity Matter?”
Kan Chen (Vanderbilt University)

“The welfare cost of real volatility: a comparative analysis”
Rafael López-Monti (George Washington University)

“Variations on a Theme: The Cyclicality of Unemployment and the Relevance of Endogenous Home Production”
Robert Lester (University of Notre Dame)

E: Room 211 - Applied Economic Policy

“Ethanol Policy Effects on Petroleum and Petroleum Products”
Jarrett Whistance (University of Missouri-Columbia)

“Labor Concessions and Saving Jobs: Lessons from German Metalworking”
Valentyna Katsalap (University of Houston)

“Hours Worked With and Without Capital Income”
Christine Ostrowski (Federal Reserve Bank of Chicago)

Refreshment Break – Coffee, Tea, Soda – 4:30 p.m.-5:00 p.m.
(alcove next to Registration Table)

Plenary Session I– 5:00 p.m.-6:00 p.m. (Room 208C)

“A New Monetarist Model of Financial and Macroeconomic Activity”
Randall Wright, Professor of Economics, University of Wisconsin

Happy Hour – 6:00 p.m. (Reynolds Alumni Center, Great Room)

Dinner – 7:30 p.m. (Reynolds Alumni Center, Great Room)
Entrée card in holder with your name badge.

SATURDAY, March 23, 2013

Continental Breakfast – 8:30 a.m.
(alcove next to Registration Table)

Plenary Session II– 8:45 a.m.-9:45 a.m. (Room 208C)

"Spatial Climate-economic Models and Their Use in the Design of Optimal Carbon Taxes Across Locations"
Buz Brock, Professor of Economics, University of Missouri, and University of Wisconsin

Concurrent Session IV – 10:00 a.m.-12:00 p.m.

A: Room 204 - Labor Supply

“The Effect of Labor Supply on Unemployment Fluctuations”
Chung Gu Chee (The Ohio State University)

“Financial Frictions and Occupational Mobility”
José Mustre-del-Rio (Federal Reserve Bank of Kansas City)

B: Room 208A - Business Cycles II

“Modeling the Trends in Macroeconomics Time Series Data”
Shawn Ni (University of Missouri-Columbia)

“Breaks in Structural Parameters”
Stephane L'Huissier (Pantheon-Sorbonne University)

“Monetary and Fiscal Policy Interactions in Turkey: A Markov Switching Approach”
Semih Cekin (Texas Tech University)

C: Room 208C - Applied Microeconomics II

“Labor-Market Returns to the GED Using Regression Discontinuity Analysis”
Peter Mueser (University of Missouri-Columbia)

“The Equal Rights Amendment and Labor Market Outcomes for Married Women”
Jennifer Boden (University of Kansas)

“The Path to Being an Economics Professor: What Difference Does the Graduate School Make?”
Zhengye Chen (University of Chicago)

D: Room 208D - Financial Economics II

“The Downs and Ups of FHA Lending: The Government Mortgage Roller Coaster Ride”
Rajeev Darolia (University of Missouri-Columbia)

“Money Market Conditions and the Non-Bank Financial Sector: A Look at Commercial Paper”
Karl Boulware (University of Alabama)

“Workers’ Remittances, Borrowing Constraints, and Welfare”
A.K.M. Mahbub Morshed (Southern Illinois University Carbondale)

Box Lunch and Adjournment – 12:00 p.m.-2:00 p.m.
(Alcove next to Registration Table) Name Tag admits you to lunch.