ERMAS Program 2016 [1]


MONDAY, 1st of August 2016


09.00-10.00:    Participants registration, Faculty of Economics and Business Administration Timişoara, Location: Lobby


10.00-10.45:    Opening ceremony, Faculty of Economics and Business Administration Timişoara, Location: Room                          ADM (1st floor)*


Welcome speech from [2]:


·        Ovidiu Megan (Vicerector West University of Timișoara)

·        Liviu Voinea (Deputy Governor National Bank of Romania)

·        Camelia Bejan and Otilia Boldea (Representatives of the Committee for initiative and coordination of ERMAS 2016)


11.00-12.30:     Parallel sessions


Session A1:      Economic Growth - Chair of the session: Alexandru Minea, Location: Room P02 (ground floor)*

·        Camelia Turcu (University of Orleans, FR): “Corruption, institutional quality and growth: a panel smooth transition regression approach” (with Reda Marakbi)

·        Mihai Mutaşcu (ECREB, West University of Timișoara, RO): “A wavelet analysis of the environmental kuznetscurve in France” (with Jean-Christophe Pereau and Eugen Ursu)

·        Alexandru Minea (School of Economics & CERDI, Universite d’Auvergne, FR): “Deficit rules and monetization in a growth model with multiplicity and indeterminacy” (with Maxime Menuet and Patrick Villieu)


Session A2:      Household decisions, inequality and growth - Chair of the session: Ioana Moldovan, Location: Room

102 (1st floor)*

·        Nicoleta Ciurilă (University of Amsterdam, Tinbergen Institute, NL): “Labor supply, savings and consumption inequality under different pension benefits arrangements

·        Felicia Ionescu (Federal Reserve Board, US): “Investment opportunities and the sources of lifetime inequality” (with Kartik Athreya, Urvi Neelakantan and Ivan Vidangos) (Invited paper as member of the Scientific Committee)

·        Ioana Moldovan (University of Glasgow, UK): “Stabilisation policy in a new keynesian model with job search, skills erosion and growth effects” (with Campbell Leith)


12.30-12.45:    Coffee break


12.45-14.00:    PLENARY SESSION: Keynote Sergiu Hart (The Hebrew University of Jerusalem), Title: “Two(!) good to be true”, Location: Room ADM (1st floor)*


14.00-14.45:    Lunch, Location: Faculty of Economics and Business Administration Restaurant (2nd floor)


15.00-16.30:    Special Session ERMAS 2016: Practices and policies perspectives on research in Economics in Romania, Location: Room ADM (1st floor)



·        Sebastian Buhai, Stockholm University- SOFI, SE - Disincentivizing the performance: the case of the Romanian national criteria for evaluating research in economic sciences

·        Nicolae Gârleanu, UC Berkeley- Haas, US - Evaluating academics: An international perspective

·        Claudiu Herțeliu, ASE Bucharest, RO – “Citations. How not to do it”


16.30-16.45:    Coffee Break


16.45-18.45:    Parallel sessions


Session B1:      Firms Behaviour - Chair of the session: Andrei Barboș, Location: Room P02 (ground floor)

·        Mircea Epure (Universitat Pompeu Fabra and Barcelona GSE, ES): “Attracting early-stage investors: is debt a deterrent or an incentive?” (with Marti Guasch)

·        Almos Telegdy (Central European University and National Bank of Hungary, HU): “Daughters, Sons and Managerial Decisions: how the Gender of the CEO's Child Affects the Share of Female Managers” (Invited paper as member of the Scientific Committee)

·        Angela Cheptea (INRA, FR): “Do multinational retailers affect the export competitiveness of their host countries?

·        Andrei Barboş (University of South Florida, US): “Optimal contracts with random monitoring” (Invited paper as member of the Scientific Committee)


Session B2:      Game Theory (I) - Chair of the session: Marius Ochea , Location: Room 102 (1st floor)

·        Noemi Gasko (Babeş-Bolyai University, RO): “Approximation of (k,t) - robust equilibria” (with Tudor Dan Mihoc, Rodica Ioana Lung and Mihai Suciu)

·        Cosmin Bonchiş (West University of Timişoara and the eAustria Research Institute, RO): “A parametric worst-case approach to fairness in TU-cooperative games” (with Gabriel Istrate)

·        Marius Ochea (THEMA, Universite de Cergy-Pontoise, FR): “Evolutionary competition between adjustment processes in Cournot oligopoly: instability and complex dynamics” (with Cars Hommes and Jan Tuinstra)


20.30:                Welcome reception offered by Bosch Group Romania, Location: Prestige Ballroom**

* Rooms P02, 102 and ADM (Dumitru Mareş Amphitheatre) are located at the Faculty of Economics and Business Administration on J.H. Pestalozzi street no. 16, Timişoara

** Prestige Ballroom is located on Vasile Pârvan Boulevard no. 5 (between the West University of Timişoara and the Polytechnic University, on the opposite side of the street)


TUESDAY, 2nd of August 2016


08.00-11.00:   Intensive Course – Applied Microeconometrics, Professor Andreea Mitruț, University of Gothenburg,

                           Location: Room ADM (1st floor)


10.00-11.30:    Parallel sessions


Session C1:      Econometrics - Chair of the session: Andreea Halunga, Location: Room 102 (1st floor)

·        Otilia Boldea (Tilburg University, NL): “Break point estimation in fixed effects panel data” (with Zhuojiong Gan and Bettina Drepper)

·        Marcel Voia (Carleton University, CA): “Non-standard confidence sets for ratios and tipping points with applications to dynamic panel data” (with Jean-Thomas Bernard, Ba Chu and Lynda Khalaf)

·        Andreea Halunga (University of Bath, UK): “A heteroscedasticity robust Breusch-Pagan test for contemporaneous correlation in dynamic panel data models” (with Chris D. Orme and Takashi Yamagata) (Paper invited as member of the Scientific Committee)


Session C2:      Asset Pricing - Chair of the session: Camelia Bejan, Location: Room P02 (ground floor)

·        Florin Bidian (Georgia State University, US): “Bubbles and trading volume

·        Nicolae Gârleanu (UC Berkeley-Haas, US): “What to expect when everyone is expecting: self-fulling expectations and asset-pricing puzzles” (with Stavros Panageas) (Invited paper as member of the Scientific Committee)

·        Camelia Bejan (University of Washington-Bothell, US): “On the shareholder versus stakeholder debate” (Invited paper as member of the Scientific Committee)


11.30-11.45:    Coffee break


11.45-13.00:    PLENARY SESSION: Keynote Hervé Moulin (University of Glasgow), Title: “Fair division under additive utilities: good and bad news”, Location: Room ADM (1st floor)


13.00-13.45:    Lunch, Location: Faculty of Economics and Business Administration Restaurant (2nd floor)


13.45-15.45:    Parallel sessions


Session D1:      Labor Markets - Chair of the session: Sebastian Buhai, Location: Room 102 (1st floor)

·        Cătălin Dragomirescu-Găină (Independent Researcher, IT): “Technology shocks and sectoral labour market dynamics” (with Leandro Elia)

·        Andrei Zlate (Federal Reserve Bank of Boston, US): “Offshoring, low-skilled immigration, and labor market polarization” (with Federico S. Mandelman)

·        Iulian Ciobică (Vrije Universiteit Amsterdam, Tinbergen Institute, NL): “Worker heterogeneity and employer screening in a search and matching model

·        Sebastian Buhai (Stockholm University - SOFI, SE): “Firm downsizing, public policy, and the age structure of employment adjustments” (with Hans-Martin von Gaudecker)


Session D2:      Game Theory (II) - Chair of the session: Anna Bogomolnaia, Location: Room P02 (ground floor)

·        Cristian Litan (Babeş-Bolyai University, RO): “Generic finiteness of equilibrium distributions for bimatrix outcome game forms” (with Francisco Marhuenda and Peter Sudholter)

·        Mihai Manea (MIT, US): “Information resale in networks” (Invited paper as member of the Scientific Committee)

·        Edward Schlee (Arizona State University, US): “Public good provision under uncertainty: local cost-benefit analysis” (Invited paper as top economist from abroad)

·        Anna Bogomolnaia (University of Glasgow, UK): “Competitive fair division” (Invited as top economist from abroad)


15.45-16.00:    Coffee break


16.00-17.15:   Poster Presentations for young researchers from host institution and for those invited by the Scientific Committee, Location: Room P02 (ground floor)



·   Claudiu Albulescu (Politehnica University of Timișoara, RO): “The money demand in an open economy model with microeconomic foundations: An application to the CEE countries” (with Dominique Pépin)

·   Simona Dragoș (Babeș-Bolyai University, RO): “Institutional drivers of life insurance consumption: a dynamic panel approach for European countries” (with Cristian Dragoș and Codruța Mare)

·   Nicolae Bogdan Ianc (West University of Timișoara and Université d'Orléans, LEO, FR), Turcu Camelia (Université d'Orléans, LEO, FR):  “Differences across E(M)U candidate countries: a fiscal multiplier approach”

·   Adrian Marius Ionescu (West University of Timișoara and Université d'Orléans, LEO, FR):Spillover effects of European Central Bank unconventional monetary policy: evidence from several CEE countries”

·   Mihai Mutașcu (West University of Timișoara, RO), Ovidiu Mura (West University of Timișoara, RO): “Public debt and economic freedom in EU’s former socialist countries”

·   Mihaela Stan (University College London, UK):A case of public-private interplay in healthcare: Are hybrid institutional forms better performers?”


17.15-17.30:    Coffee break


17.30-19.00:    Parallel sessions


Session E1:       Emerging Economies - Chair of the session: Andrei Tănase, Location: Room 102 (1st floor)

·        Irina Mihai (National Bank of Romania, RO): “Coping with unsustainable lending: early warning indicators and the use of macro-prudential instruments” (with Florian Neagu and Luminiţa Tatarici)

·        Simona Mutu (Babeş-Bolyai University, RO): “Corporate governance and efficiency in banking: evidence from emerging economies” (with Alin Andrieş and Bogdan Căpraru)

·        Andrei Tănase (National Bank of Romania, RO): “Estimating a real-time business conditions index for Romania” (with Andra Smădu and Irina Stanciu)


Session E2:       Macroeconomic Theory - Chair of the session: Călin Arcălean, Location: Room P02 (ground floor)

·        Răzvan Vlahu (De Nederlandsche Bank, NL): “Collective strategic defaults: bailouts and repayment incentives

·        Călin Arcălean (ESADE, Ramon Llull University, ES): “Dynamic fiscal competition: a politico-economic theory


Session E3:       Applied Finance - Chair of the session: Alin Andrieș, Location: Room ADM (1st floor)

·        Angela Maria Filip (Babeş-Bolyai University, RO): “Herding behavior in CEE stock markets under asymmetric conditions: a quantile regression analysis” (with Miruna Pochea and Andreea Maria Pece)

·        Bogdan Dima (West University of Timişoara, RO): “Mutual information and persistence in the stochastic volatility of market returns: an emerging market example” (with Ştefana Maria Dima)

·        Alin Andrieş (Alexandru Ioan Cuza, RO): “The impact of international swap lines on stock returns of banks in emerging markets” (with Andreas M. Fischer and Pinar Yesin)


20.30:                Business Cocktail offered by the West University of Timişoara Alumni Community, Location: Epic Vara Garden***


12.00-14.00:    It will be held “Workshop on urban development topics” – at the intiative of the local organizers from WUT, Location: Aula Magna (1st floor - West University of Timişoara, Located on Vasile Pârvan Boulevard no. 4, Timişoara), program here.


*** Epic Vara Garden is located behind the Dan Păltinişanu Stadium


WEDNESDAY, 3rd of August 2016


08.00-10.30:   Intensive Course – Applied Microeconometrics, Professor Andreea Mitruț, University of Gothenburg, Location: Room ADM (1st floor)


10.30-11.45:   PLENARY SESSION: Keynote Roc Armenter (Federal Reserve Bank of Philadelphia), Title: “Low rates and low inflation”, Location: Room ADM (1st floor)


11.45-12.00:  Coffee break


12.00-14.00:  Parallel sessions


Session F1:    Applied Microeconomics - Chair of the session: Daniela Andren, Location: Room P02 (ground floor)

·        Alina Botezat (“Gh. Zane” Institute for Economic and Social Research - Romanian Academy Iași, RO): “Austerity plan announcements and the impact on  employee well-being

·        Simona Bejenariu Tudor (SOFI, Stockholm University, SE): “The effects of financial incentives on fertility and early investments in child health

·        Daniela Andren (Örebro University School of Business, SE): “Structural state dependence in Swedish social assistance: What happened to those who were single before a recession?” (with Thomas Andren)


Session F2:      Macroeconomic Policies - Chair of the session: Mădălina Militaru , Location: Room 102 (1st floor)

·        Oana Furtună (University of Amsterdam, NL): “Searching for the confidence fairy: evidence from a new narrative dataset on announcements of fiscal austerity measures” (with Roel Beetsma and Massimo Giuliodori)

·        Maria Bolboaca (Study Center Gerzensee, CH): “News shocks: Different effects in boom and recession?” (with Sarah Fischer)

·        Mădălina Militaru (National Bank of Romania, RO): “Jobless recovery in Romania: the role of sticky wages and other frictions” (with Ştefania Iordache and Luiza Pandioniu)


14.00-14.15: Coffee break


14.15-14.45:   Closing ceremony, Location: Room ADM (1st floor)


14.45-15.30:    Lunch, Location: Faculty of Economics and Business Administration Restaurant (2nd floor)


15.30-19.00:    Cultural Tour of Timişoara (offered by the organizers to the contributors, invited speakers and special guests), Meeting point: Lobby of the Faculty of Economics and Business Administration


20.30:                Farewell reception, Location: Café de Paris (Bastion) ****


**** Café de Paris (Bastion) is located on Hector Street, no. 4, Timișoara

[1] Updated program with links to the papers that were presented (in case of manuscript availability). In this ex-post version of the program only ”de facto” presenters are mentioned.

[2] At the time of the conference, the opening ceremony also included a welcome speech from the WUT rector Marilen Pirtea, respectively from the presidential counselor Cosmin-Ștefan Marinescu. In the end they were not able to attend the opening ceremony.