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VERSION:2.0
PRODID:-//AMSE//Event Calendar//FR
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UID:event-10764@amse-aixmarseille.fr
DTSTAMP:20260418T121127Z
CREATED:20260418T121127Z
LAST-MODIFIED:20260418T121127Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:phd seminar - Laura Contreras*\, Mykhailo Matvieiev**
DTSTART:20240305T100000Z
DTEND:20240305T113000Z
DESCRIPTION:*Despite the high prevalence of developing economies implementi
 ng place-based policies\, the existing literature has predominantly focused
  on examining their effects in developed economies. Nevertheless\, the expe
 rience with place-based policies in developed countries can hardly be trans
 ferred to less-developed economies where a substantial share of their labor
  force is employed informally. To shed light on these\, this paper studies 
 the local economic impact of the Free Economic Zones (FEZs) program establi
 shed in Colombia between 2005-2018. Based on a novel data set that combines
  georeferenced data on FEZs\, municipalities\, and household characteristic
 s\, I measure the spatial effects of the creation of these zones on labor m
 arket outcomes\, focusing on informality. Results show that the FEZs establ
 ishment significantly increases local employment by increasing informality\
 , with positive spillovers to the nearby regions\, decreasing with distance
 . To explain these findings\, I develop a spatial structural model with inf
 ormality\, internal trade\, and labor mobility\, providing two channels: (
 i) the formalization channel that increases the proportion of formal firms 
 and (ii) the entry channel resulting in an increase in firm entry\, mainly 
 driven by informal firms. I aim to quantify the model and provide some coun
 terfactual analysis.**Episodes of low natural interest rates\, even transit
 ory\, pose a challenge to monetary policy by possibly causing the effective
  lower bound on the policy rate to bind. Those episodes are more likely to 
 occur not only when the natural rate is low on average but also when fluctu
 ations around its average level are large. In this paper\, we study the res
 ponsiveness of the natural interest rate to structural aggregate shocks aff
 ecting the aggregate supply of and demand for savings. Using a quantitative
  overlapping-generations model\, we trace back this responsiveness to the s
 lopes of aggregate savings supply and demand curves and show that both curv
 es have flattened over the past four decades in the U.S. This implies a gre
 ater sensitivity of the natural rate to structural shocks affecting the sup
 ply of and demand for aggregate saving.\\n\\nContact: Lucie Giorgi: lucie.g
 iorgi[at]univ-amu.frRicardo Guzman: ricardo.guzman[at]univ-amu.frNatalia La
 brador: natalia.labrador-bernate[at]univ-amu.frNathan Vieira: nathan.viei
 ra[at]univ-amu.fr\n\nPlus d'informations: https://amse-aixmarseille.fr/en/e
 vents/laura-contreras-mykhailo-matvieiev-0
LOCATION:MEGA - Salle Carine Nourry\, 424\, Chemin du Viaduc\, 13080 Aix-en
 -Provence
URL;VALUE=URI:https://amse-aixmarseille.fr/en/events/laura-contreras-mykhailo-matvieiev-0
CONTACT:Lucie Giorgi: lucie.giorgi[at]univ-amu.frRicardo Guzman: ricardo.gu
 zman[at]univ-amu.frNatalia Labrador:&nbsp\;natalia.labrador-bernate[at]univ
 -amu.frNathan Vieira:&nbsp\;nathan.vieira[at]univ-amu.fr
TRANSP:OPAQUE
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