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16:30 | Macro Research Seminar
University of Amsterdam, The Netherlands
Authors: Swapnil Singh and Christian A. Stoltenberg
Abstract: We develop a consumption risk sharing model that can in a systematic and consistent way distinguish between households' perceived income uncertainty and income uncertainty as measured by an econometrician. Households receive signals on their future disposable income that can drive a wedge between the two uncertainties. Using U.S. micro data to inform the general equilibrium model, we find support for a systematic uncertainty gap: households know more than econometricians such that their perceived income uncertainty is at least 12 percent lower than the uncertainty estimated by an econometrician that is typically used in risk sharing models. For this uncertainty gap, the model jointly explains three distinct risk sharing measures that are not captured in the standard model without a gap: (i) the cross-sectional variance of consumption, (ii) the covariance of consumption with income growth, and (iii) the income-conditional mean of household consumption.
Full Text: “How Much Do Households Really Know About Their Future Income?”
18:00 | Economics Discovery Hub
Time: 18:00–19:30
Date: Thursday, 6 April 2017
Tomáš Karakolev, the Senior Expert and the leader of McKinsey’s Corporate Finance Practice in Eastern Europe will lead a comprehensive, hands-on workshop on business valuation.
This event is hosted by Prague Wall Street Club, a student organization run by CERGE-EI students, alumni, and other enthusiasts and is open to anyone who is interested in finance.
18:30 | Economics Discovery Hub
Mastering Advanced Excel Functions
Thursdays, 18:30-21:00
Starting date: 6 April, 2017
Finishing date: 27 April, 2017
These advanced Excel lectures will be aimed at creation of Excel models using advanced formulas and functionalities. It is meant for people who have experience with Excel and would like to see advanced usage of some formulas and features. The course also serves as a natural follow-up to previous Petar Buha's "Mastering Excel Basics" lectures. The students will create a new model during each lecture, with content ranging across finance, marketing, operations and IT.
Participants who attend at least 75% of the sessions will obtain a Certificate of Attendance issued by CERGE-EI.
About the facilitator: Petar Buha
Petar is an MA in Applied Economics graduate from 2015 and currently works as an Analyst at Accenture. He is interested in analysis, innovation, and IT; it was due to these interests that he worked at Social Bakers prior to his studies and why he joined Accenture after graduation. He used Excel considerably during his studies, especially on the practical Financial Modeling course, and he also uses it extensively in his current role, where he has developed complex models for an insurance provider's regulatory reporting and is administering reporting capabilities for a data migration stream, analyzing and forecasting the productivity of developers and their deliverables. In his free time, Petar likes to do kick-boxing, watch sci-fi movies and actively socialize.
Registration for this course is closed.
We thank our partner EY for supporting Economics Discovery Hub.
