View by Day
16:30 | Macro Research Seminar
Filip Rozsypal (Job Talk) “Schumpeterian Business Cycles”
University of Cambridge, United Kingdom
Author: Filip Rozsypal
Abstract: This paper presents an economy where business cycles and long term growth are both endogenously generated by the same type of iid shocks. I embed a multi-sector real business cycle model into an endogenous growth framework where innovating firms replace incumbent production firms. The only source of uncertainty is the imperfectly observed quality of innovation projects. As long as the goods are complements, a successful innovation in one sector increases demand for the output of other sectors. Higher profits motivate higher innovation efforts in the other sectors. The increase in productivity in one sector is thus followed by increases in productivity in the other sectors and the initial innovation generates persistent movement in aggregate productivity.
Full Text: “Schumpeterian Business Cycles”
18:30 | Special Event
The Shadow Economy - Impact on Innovation, East and West
The Legatum Institute, the European Bank for Reconstruction and Development (EBRD), and CERGE-EI are proud to host a special panel discussion on Shadow Economies in Central and Eastern Europe.
Economists, policy-makers and entrepreneurs will discuss the different understandings of the shadow economy, the impact on society and economic activity, and alternative policy options to address the issue. The event will be held in London, UK.
Many of UK based CERGE-EI alumni will attend this panel discussion with Giles Andrews, Tina Fordham, Andrei Kerilenko, Peter Sanfey and Jan Svejnar. Our students had a unique opportunity to win a trip to this special event. Read who won the first Alumni Award for the Best CERGE-EI Student Paper and will fly to London!
More information to be found at Legatum Institute website.
