Job Market Seminars

Job Market Seminars

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Job Market Seminars Michela Giorcelli (Stanford University)

"The Long-Term Effects of Management and Technology Transfer: Evidence from the US Productivity Program” abstract This paper uses a unique historical episode to assess the long-run effects of man-agement and technology transfer on firm performance. During the 1950s, as part of the Marshall Plan, the US administration sponsored management-training trips for European managers to US…

Job Market Seminars Bruno Salcedo (Penn State University)

"Pricing Algorithms and Tacit Collusion" Abstract There is an increasing tendency for firms to use pricing algorithms that speedily react to market conditions, such as the ones used by major airlines and online retailers like Amazon. I consider a dynamic model in which firms commit to pricing algorithms in the short run. Over time, their algorithms can be revealed…

Job Market Seminars Stefano Sacchetto (London Business School)

"Merger Activity in Industry Equilibrium" ABSTRACT We study a dynamic industry-equilibrium model that features mergers, entry, and exit by heterogeneous firms. We show how different sources of synergies affect merger cyclicality. Improvements in marginal productivity between merging firms generate a procyclical motive for mergers, while reductions in fixed costs of production generate a countercyclical one.…