First CEAMeS Workshop in Hagen
The Chairs off Macroeconomics and International Economics organized the first CEAMeS Workshop on recent developments in East Asian economies.
New Publication: The Article "Hysteresis Losses in the Preisach Framework“ has been Accepted
Laura Werner published the article "Hysteresis losses in the Preisach Framework“ in Empirical Economics
This study develops a new hysteresis loss indicator based on the Preisach procedure. The hysteresis loss indicator reports dynamic losses which occur during the adjustment process towards a new equilibrium. In the case of foreign trade, these losses occur when a firm exits an export market due to writing off sunk entry and/or exit costs. To illustrate this new welfare loss indicator, an example of German exports to Great Britain is studied. The losses found relate to the financial crisis and the Brexit decision.
External link: https://rdcu.be/5ics
New Publication in Macroeconomic Dynamics
Laura Werner and her former colleague Jolita Adamonis published the article "A New Measure to Quantify Hysteresis Losses: The Case of Italian Wine Exports to the United States” in Macroeconomic Dynamics.
This paper introduces a new measure to capture dynamic losses for exporting firms on markets that exhibit hysteresis on the supply side. Our indicator aims to quantify dynamic losses caused by sunk adjustment costs in case of exchange rate fluctuations. While the standard procedure in welfare analysis is to compare two equilibria, we focus on welfare effects that take place during dynamics.
New Publication in the Journal of the Chinese Economic Association (UK)
Antonia Reinecke and Hans-Jörg Schmerer published some joint research in the "Journal of Chinese Economic and Business Studies".
New Publication in the CESifo Working Paper Series
Stella Capuano, Hartmut Egger, Michael Koch and Hans-Jörg Schmerer published some joint research in the CESifo Working Paper Series.
Presentations at the University of Würzburg and IAAEU at the University of Trier
Prof. Dr. Hans-Jörg Schmerer discussed some of his recent research with colleagues from the University of Würzburg and from the "Institute for Labour Law and Industrial Relations in the European Union" (IAAEU) at the University of Trier:
Presentation at the GEP Conference in Nottingham-Ningbo
Hans-Jörg Schmerer presented a recent paper at the GEP Conference 2016 in Ningbo. The conference was jointly organized by the GEP at the University of Nottingham and the university's campus in Ningbo, China.
Upcoming Research Colloquium
Christoph Görtz from the University of Birmingham will give a seminar on the topic “News Shocks under Financial Frictions.” The presentation will be held on the 28th of October, 2016 at 3:30 p.m. in TGZ, EG, Ellipse, room 2.
Christoph Görtz joined the Department of Economics at the University of Birmingham in July 2012. Prior to this he worked for one year as a temporary lecturer at the University of Nottingham. During the completion of his PhD Christoph Görtz also worked at the Bank of England where he contributed to the development of the Bank's new main forecasting model. Christoph's main fields of interest are macroeconomics and monetary economics. His research was published in the journals "Review of Economics and Statistics" and "Review of Economic Dynamics".
New Publication on "Trade and Labor Market Dynamics: What Do We Learn from the Data?" in Economics Letters
A recent article by Daniela Nordmeier, Hans-Jörg Schmerer and Enzo Weber was accepted for publication in the journal "Economics Letters". Our empirical study contributes to the discussion about short- and long-run effects of trade on unemployment in Germany. We employ a structural VAR approach in order to disentangle the total effect of trade on unemployment into job-findings and separations. Our results indicate that the unemployment effect mainly works through a drop in the job-separation rate, which can be explained by job-to-job transitions from contracting towards expanding firms. Thus, our results reinforce the importance of endogenous separations and on-the-job search in models of trade, heterogeneous firms and labor market frictions.
Professor Dan Liu from the School of Economics, Shanghai University of Finance and Economics, will visit our chair from May 30th to June 3rd, 2016. She will present her paper “Highway and Firm Export: Evidence from China” on June 1st, 2016 at 4:00 p.m. in building TGZ, room D06.
Professor Liu finished her Ph.D. in 2012 at the University of California, Davis. Since 2012 she has been an Assistant Professor at Shanghai University of Finance and Economics, and teaches the course "Advanced Microeconomics". Her research interests are, for example, international economics, applied econometrics and economic history. She has published her research results in the Journal of International Economics as well as in Economics Letters.
Dr. Danny McGowan from the University of Nottingham will visit our chair for several days in May. He will present the paper "Digging Deep to Compete: Vertical Integration, Product Market Competition and Prices". The lecture will be held on May 17th, 2016 in room B121 in AVZ at 3.00 p.m.
Dr. Lorenzo Rotunno from the Universiy of Oxford will visit our chair for two days in April. He will present the paper "Heckscher-Ohlin: Evidence from Virtual Trade in Value-Added". The lecture will be held on April 20th in rooms 4+5 in KSW at 3:00 p.m.
Dr. Ehsan Vallizadeh from the IAB (Institute for Employment Research) will visit our chair for two days in April. He will present the paper "Immigration, Offshoring, Tasks and Technology Adoption: Implications for Natives Wage Structure". The lecture will be held on April 11th 2016 in rooms 4+5 in KSW at 3:00 p.m.
Research Trip to China
Prof. Schmerer presented a very recent project with the title “Offshoring and Firm Overlap” at different universities in China:
The article "Globalization and Labor Market Outcomes: Wage Bargaining, Search Frictions, and Firm Heterogeneity" by Gabriel Felbermayr, Julien Prat and Hans-Jörg Schmerer is according to the homepage of the Journal of Economic Theory the most cited article published in this journal since 2011 (link to the journal homepage).
A recent article by Wolfgang Dauth, Erwin Winkler and Hans-Jörg Schmerer is forthcoming in the journal "Economics Letters".
Prof. Hans-Jörg Schmerer was invited to present some recent research in the colloquium of the LSE.