Applied Micro Conference

May 26 2016
May 27 2016
Queen's Applied Micro
Thursday May 26, 2016 - Friday May 27, 2016

Hand-Purvis Conference Room

Taylor Jaworski

Doctoral Fellows

Alex Mcleod's picture

Alex Mcleod

Wage Bargaining with Information Acquisition and Technological Routinization

This project analyzes the interaction between screening and bargaining in wage determination. Technological routinization affects agents' productivities as well as their incentive to mimic other types of agents in the bargaining process.


Adugna Olani's picture

Adugna Olani

International Transmission of Monetary Policy through Capital Flows

This paper explores the spill-over effects of advanced economies' monetary policy shocks in a disaggregated financial flow variables to emerging market economies (EMEs). It uses the quarterly data of many EMEs spanning from 1990 first quarter to 2014 second quarter. I separately study the spill-over effects of conventional and non-conventional monetary policy on direct and portfolio investment inflow separately. I use panel of eight EMEs to study investment inflows and outflows. Direct and portfolio investment outflows are not significantly affected by the monetary policy variables. During the periods of quantitative easing, as unconventional monetary policy, direct and portfolio investment inflows sizes changed differently. I use structural VAR to study the response of each inflow variables in each of the eight EMEs to conventional monetary policy. Portfolio investment inflow, because of its short term nature, increases in response to contractionary monetary policy of the US. On the other hand, direct investment, as longer-term investment inflows, decrease after two quarters in response to the longer-term interest rate such as the difference between 10-Year and 3-Month US Treasury rates. Finally, the variance decompositions show that exchange rate volatility explains variations in investment inflows more than other domestic as well as global shock variables including the US monetary policy. These results are robust to several specifications of identification restrictions imposed.