Finance Seminar with Mariano M. Croce, Bocconi University

On Friday, November 13, 2020, Mariano M. Croce, Bocconi University will be giving an online seminar on the paper: "Uncertainty-Induced Reallocations and Growth"

Friday, November 13, 2020 - 11:00 to 12:00

The Department of Finance is proud to announce the upcoming online seminar with Mariano M. Croce, Bocconi University.

Mariano M. Croce will present: 

Uncertainty-Induced Reallocations and Growth

ABSTRACT
Focusing on both micro and aggregate U.S. data, we show the existence of a significant link between aggregate uncertainty and reallocation of resources away from R&D-intensive capital. This link is important because a decrease in the aggregate share of R&D-oriented capital forecasts lower medium-term growth. In a multi-sector production economy in which (i) growth is endogenously supported by risky R&D investments, and (ii) the representative agent is volatility-risk averse and has access to other safer technologies that do not support growth, uncertainty shocks have a first-order negative impact on medium-term growth and welfare.


Location and sign up:
This is an online seminar on Zoom.
Please contact us in order to sign up.

The page was last edited by: Department of Finance // 11/13/2020