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Economics with policy - International seminar series

Economics with policy - a new international seminar series organized by MTA KRTK.

The Centre for Economic and Regional Studies of Hungarian Academy of Sciences launched a new seminar series in 2013.

A monthly event, it features the presentation of an academic paper and a short discussion. In this seminar, papers will be presented on diverse topics from international trade, regional development, competition, game theory to labor markets or education.

A one hour presentation will be followed by a moderated policy discussion where the author and the moderator will discuss the policy relevant conclusions and potential applications in the European Union and Hungary.

The location for the lectures is MTA Research House, conference room nr. K13, ground floor,
4 Tóth Kálmán street, 1097 Budapest.
The lectures start at 2 pm and held in English.
Event coordinator: Kiss Károly Miklós (Institute of Economics, MTA KRTK)

Forthcoming seminars

Past seminars

25 January 2018 - 2 pm - Budapest, Tóth Kálmán u. 4, 1097, ground floor room 13-14

Armando Rungi (IMT Lucca): Global ownership and corporate control networks

Abstract: In this contribution, at first, we introduce a basic network framework to study pyramidal structures and wedges between ownership and control of companies. Then, we apply it to a dataset of 53.5 million of companies operating in 208 countries. Among others, we detect a strong concentration of corporate power, as less than 1% of parent companies collect more than 100 subsidiaries, but they are responsible for more than 50% of global sales. Therefore, we show that the role of indirect control, i.e., through middlemen subsidiaries, is relevant in 15% of domestic and 54% of foreign subsidiaries. Among foreign companies, cases emerge of blurring nationality, when control paths cross more than one national border, in the presence of multiple passports (19.1%), indirectly foreign (24.5%), and round-tripping subsidiaries (1.33%). Finally, we relate indirect control strategies to country indicators of the institutional environment. We find that pyramidal structures arise less likely in the presence of good financial and contractual institutions in the parent's country, as these foster more transparent forms of corporate governance. Instead, parent companies choose indirect control through countries that have better financial institutions, possibly because it is easier to coordinate decisions from remote. Finally, we find that offshore financial centers are preferred jurisdictions for middlemen subsidiaries, probably due to a lower taxation and a lack of financial disclosure.

7 December 2017 - 2 pm - Budapest, Tóth Kálmán u. 4, 1097, ground floor room 13-14

David Manlove (University of Glasgow): Algorithms for Paired and Altruistic Kidney Donation in the UK

Abstract: A patient who requires a kidney transplant, and who has a willing but incompatible donor, may be able to 'swap' his or her donor with that of another patient in a similar situation. The UK Living Kidney Sharing Schemes (UKLKSS), run by the National Health Service Blood and Transplant, aim to find optimal sets of 'kidney exchanges' involving incompatible donor-patient pairs and also altruistic (non-directed) donors in the UK. In this talk we describe the computational techniques that we have used in order to construct optimal sets of exchanges for quarterly matching runs of the UKLKSS since July 2008. We also provide an overview of outcomes, showing the numbers of transplants that have been identified and that have proceeded from these runs.

24 November 2017 - 11 am - new venue! - 7621 Pécs, Papnövelde u. 22. - Institute for Regional Studies, conference room

Ugo Fratesi (Politecnico di Milano)
Border regions in Europe: obstacles, (in)efficiency and compensation
(joint work with Roberta Capello and Andrea Caragliu)
Abstract: Border regions have special situation within EU Member states, since along borders run barriers of different physical institutional and cultural nature. Therefore, border regions have been the target of cross-border policies to reduce these obstacles and fully exploit their growth potential. The seminar starts by identifying whether EU border regions suffer more from inefficiencies or underendowment because of the border, then analyses which types of obstacles are obstructing the exploitation of which growth assets, finally it explores the possibility of compensating underendowment or internal inefficiency with increased internal or external efficiency.

23 November 2017 - 2 pm - new venue! - Budapest, Tóth Kálmán u. 4, 1097, ground floor room 13-14

Matt V. Leduc (Aix-Marseille School of Economics, Aix-Marseille Université / GREQAM): Networked markets and relational contracts

12 October 2017 - 2 pm - Budapest XI., Budaörsi út 45. VIII/807.

Peter McAdam (Research Department at the European Central Bank)

Anatomy of a "Miracle" - Assessing the Reform Period in China

Abstract: We offer a macroeconomic assessment of China’s Reform Period, highlighting a number of rather neglected channels underlining the Chinese ‘miracle’ growth and assess the optimality of its savings rate. We begin by estimating the key parameter of the supply side of the post-Reform economy. This reveals the relatively high (above unity) value of the elasticity of substitution and the time-varying growth pattern of the economy since the Reform period. We then show how in addition to factor accumulation and technical progress, the elasticity of substitution can itself be a source of growth. We then our framework to help rationalize and justify China’s high and rising savings ratio over the previous decades.

5 October 2017 - 2 pm - Budapest XI., Budaörsi út 45. VIII/807.

Fabio Berton (Assistant Professor of Economic Policy at the Department of Economics and Statistics, University of Torino)
Employment Protection Legislation and Mismatch: Evidence from a Reform

15 June 2017 - 2m - Budapest XI., Budaörsi út 45. VIII/807.

Jordi Brandts /Instituto de Analisis Economico (CSIC) and Barcelona GSE/
Market Interaction and Efficient Cooperation

8 June 2017 - 2 pm - Venue: Hungarian Academy of Sciences, Human Sciences Research Building, 1097 Budapest, Tóth Kálmán utca 4

Frank Neffke /Harvard Kennedy School/

Coworker Complementarities

on the 2nd “Networks, Complexity, and Economic Development” workshop


11 May 2017 - 2 pm

Corina Haita-Falah  /University of Kassel - Department of Environmental and Behavioral Economics/
Sunk Contributions in a Dynamic Threshold Public Good Game

23 March 2017 - 2 pm

Jan Fałkowski /Faculty of Economic Sciences - University of Warsaw/
Do political and economic inequalities go together? Mayor's turnover, elite families and the distribution of public support to agricultural producers.

This paper studies the effects that the distribution of political power may have for the allocation of economic resources and the distribution of benefits resulting from policy intervention. Using local level data from Poland, we investigate the relationship between changes in political power and the distribution of public support for agricultural producers provided in the form of direct payments which are based on the area of land owned. Our results indicate that higher levels of concentration of political power are associated with more unequal distribution of rents created by land ownership. More specifically, we find that in municipalities where mayor's turnover is less frequent, elite families amass disproportionally large amount of wealth.

Keywords: Political power; public support for agricultural producers; elite families

9 March 2017 - 2 pm
Bogdan J. Góralczyk
/Director of the Centre for Europe, University of Warsaw/
Europe in China's New Strategy

China under current leadership of ever-stronger, charismatic leadership of President Xi Jinping has abrogated former formula and strategy of low profile, dictated by the visionary of reform, Deng Xiaoping, and known as "Constitution of 28 Chinese characters", usually identified with famous motto: taoguang yanghui (conceal your capabilities and avoid the limelight). Instead, under the current Fifth Generation of Leadership of the Chinese Communist Party we have much more assertive and active political course and imaginative strategy of the Middle Kingdom, as the People's Republic of China is more and more frequently returning to the rich tradition and civilization of China, starting from ancient times.

2 February 2017 - 2 pm
Paloma Lopez-Garcia /European Central Bank/
Is corruption efficiency-enhancing?A case study of nine Central and Eastern European countries

22 Aug 2016 - 2 pm
Alex Teytelboym

/Otto Poon Research Fellow
 at the Institute for New Economic Thinking (INET) at the University of Oxford/

Title: Refugee Resettlement
(with David Delacretaz and Scott Duke Kominers)

Abstract: Roughly 100,000 refugees are permanently resettled from refugee camps to hosting countries every year. Nevertheless, refugee resettlement processes in these countries are typically ad hoc, accounting for neither the needs and capacities of hosting communities, nor the preferences of refugees themselves. In this paper, we propose three refugee resettlement systems based on two-sided matching theory that can be used by hosting countries in different circumstances. The mechanisms we propose can improve match efficiency and reduce internal movement of refugees across localities—and might thereby encourage localities to accept more refugees in total. Additionally, the combinatorially-constrained matching framework we develop for our model is of independent theoretical interest and has applications beyond the refugee resettlement context.

20 July 2016 - 2 pm
Ehud Kalai
Northwestern University/
Learning, Predicting and Stability in Big Uncertain Games
by Ehud Kalai and Eran Shmaya

In a big uncertain game a stage game is played repeatedly by a large anonymous population. Players' privately known types are correlated through an unknown state of fundamentals and the game is played with imperfect monitoring. Markets, transportation systems, and adoption of new technologies are some examples.
Under simple behavioral assumptions, these games admits myopic Markov-perfect equilibria. We show that with time, equilibrium play in these games becomes highly predictable and stable, if uncertainty that is not explained by fundamentals is small. 

11 July 2016 - 2 pm
Eric Bettinger
/Stanford University/
Changing Distributions: How Online College Classes Alter Student and Professor Performance

by Eric Bettinger, Lindsay Fox, Susanna Loeb, Eric Taylor

13 June 2016 - 10 am
Laura Márquez Ramos /Departament d'Economia - Universitat Jaume I /
On the relationship between trade agreements and institutional and political factors


The presentation focuses on the importance that institutional and political factors play on Latin American economic integration. Two integration axes can be distinguished: the Pacific Axis presents a continuity strategy, while the Atlantic Axis presents an alternative strategy for regional integration. Brazil fits in a third possibility: BRICS trade cooperation. By focusing on both a cross-sectional and a panel data analysis, we prove that institutional and political factors do matter. Furthermore, the role of these factors have been strengthened at the beginning of the present century due to the 11S and the RevoluciĂłn Bolivariana. Finally, our analysis confirms that geographic, economic and trade policy aspects are key elements for the formation and enhancement of trade agreements in the region.


10 March 2016 - 10 am

Oleg Buklemishev /Head of the Centre for Economic Policy Studies at the Faculty of Economics, MGU and Vice-Dean of the Faculty/
Investment pause in the Russian economy and how to overcome it


date: 4th March, 2016
location: Institute for Regional Studies CERS HAS (MTA KRTK Regionális Kutatások Központja), Hungary 7621 PÉCS, Papnövelde str. 22.
language: English


10.45 – 11.00: Academician Ilona Pálné dr Kovács, director of IRS CERS HAS

Opening speech

11.00 – 11.30: Academician Valeriy Kuleshov, vice-president of Siberian branch of Russian Academy of Sciences, director of Institute of Economics and Industrial Engineering of SB of RAS:

“The economy of Russia and Siberia: the past, the present, and the future”

11.30-12.00: Professor Viacheslav Seliverstov, vice-director of  Institute of Economics and Industrial Engineering of SB of RAS: “A system of regional research at Institute of Economics and Industrial Engineering of SB of RAS”

12.00-12.30: Professor Vadim Gilmundinov, head of Intersectoral Research of National Economy of Institute of Economics and Industrial Engineering of SB of RAS: "Structural problems and prospects of development of Russian economy"

12.30-13.00: sandwich lunch

13.00-13.30: Gabor Lux, PhD (regional science), research fellow, CERS HAS: „The prospects and challenges of reindustralisation in Central and Eastern Europe”

13.30-14.00: Viktor Varjú, PhD (geography), research fellow, CERS HAS: „Pécs and the Green Economy”

14.30-15.00: Debate

Please indicate your intention to participate in the seminar (

25 February 2016 - 2 pm
Michael Krause /University of Cologne/
International capital flows, external assets, and output volatility

12 November 2015 - 2 pm
Luca David Opromolla /Banco de Portugal/
Productivity and Organization in Portuguese Firms


The productivity of firms is, at least partly, determined by a firm’s actions and decisions. One of these decisions involves the organization of production in terms of the number of layers of management the firm decides to employ. Using detailed employer-employee matched data and firm production quantity and input data for Portuguese firms, we study the endogenous response of revenue-based and quantity-based productivity to a change in layers: a firm reorganization. We show that as a result of an exogenous demand or productivity shock that makes the firm reorganize and add a management layer, quantity based productivity increases by about 4%, while revenue-based productivity drops by between 3 and 5%. Such a reorganization makes the firm more productive, but also increases the quantity produced to an extent that lowers the price charged by the firm and, as a result, its revenue-based productivity.

5 October 2015 - 2 pm
David Albouy /University of Illinois/
Housing Demand and the Affordability 'Crisis'  

1 October 2015 - 2 pm
Rikard Eriksson /Umea University/
How do regions respond to crises?
Relatedness, resilience and the spatial evolution of employment.

Rikard H Eriksson-Emelie Hane-Weijman:
How do regional economies respond to crises? The geography of job creation and destruction in Sweden (1990–2010)

Rikard Eriksson-Martin Henning-Anne Otto:
Industrial and geographical mobility of workers during industry decline: Swedish and German shipbuilding industry 1970-2000

7 May 2015
Yu Yongding

China's corporate debt: causes and implications

2 Apr 2015 2 pm
Walker Hanlon
Agglomeration: A Dynamic Approach

26 March 2015 2 pm
Rosario Crino /CEMFI/
Financial Frictions, Product Quality, and International Trade

5 February 2015 2 pm
Edwin Leuven /Department of Economics, University of Oslo; and Statistics Norway/
Field of Study, Earnings, and Self-Selection 

Catherine Thomas (LSE):
Information frictions in offshoring: Evidence from a global labor market
2pm 23 September

Tim Roughgarden
(Stanford University):
Approximately Optimal Mechanism Design: Motivation, Examples, and Lessons Learned
2pm 11 September

Oskar Nordström Skans (Uppsala University): Social networks and the labor market
17 June 2pm

Ming-Jin Jiang
(Universitat Wien)
Personal Bankruptcy Law and Small Firm Finance: Extensive and Intensive Margin
5 June Thursday

David DeRemer (ECARES)
Domestic Policy Coordination in Imperfectly Competitive Markets
22 May 2014

Zsolt Darvas
(Bruegel, MTA KRTK)
Sustainability as Determinant of Potential Output in Open Economies
15 April 2014

Guy Michaels (London School of Economics)
Resetting the Urban Network: 117-2012 (with Ferdinand Rauch)
1 April 2014

Alejandro Cunat (Universitat Wien)
Offshoring with heterogeneous firms. (with Juan Carluccio, Harald Fadinger and Christian Fons-Rosen) 
4 March 2014

Marc Gurgand
(Paris School of Economics)
Adjusting your dreams? The effect of school and peers on dropout behavior (with Dominique Goux, Eric Maurin)
18 February 2014

Paola Conconi
(Université Libre de Bruxelles és ECARES)
Guns and Votes (with L. Bouton, F. Pino, M. Zanardi)
4 February 2014

Marius Brülhar
(HEC Lausanne)
Alleged Tax Competition: The Mysterious Death of Bequest Taxes in Switzerland (with Raphael Parchet)
3 December 2013

Ron Boschma
(U. Utrecht)
Evolutionary approach on regional development
12 November 2013

Beata Javorcik
(U Oxford)
Accession to the World Trade Organization and Tariff Evasion
15 October 2013

Carlo Altomonte (U Bocconi)
Business Groups as Hierarchies of Firms: Determinants of Vertical Integration and Performance
18 June 2013

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Page last modified: 31 January, 2018