CEPR Sixth European Workshop on Household Finance - Programme


CEPR Sixth European Workshop on Household Finance
Online, 14-16 April 2021

CEPR-TFI Online Webinar: Wednesday 14  April 2021

*All timings are in CEST

     CEPR Sixth European Conference Workshop on Household Finance:

Wednesday 14 April 2021


Opening Remarks

Laurent Calvet, EDHEC and CEPR

Michael Haliassos, Goethe University Frankfurt and CEPR

Session 1

Chair:  Luigi Guiso (EIEF and CEPR)


What Do the Portfolios of Individual Investors Reveal About the Cross-Section of Equity Returns?

Sebastien Betermier, McGill University (with Laurent Calvet, Samuli Knüpfer and Jens Kvaerner)

Discussant: Hugues Langlois, HEC Paris - Presentation Slides


Household Portfolios and Retirement Saving over the Life Cycle

Antoinette Schoar, MIT and CEPR (with Jonathan Parker)

Discussant: Luis Viceira, Havard University

16:25-16:30 Short Break

Session 2

Chair:  Raman Uppal (EDHEC and CEPR)


Student Loans and Social Mobility - Presentation Slides

Mehran Ebrahimian, University of Pennsylvania

Discussant: Laurent Bach, ESSEC Business School


The Impact of Social Insurance on Household Debt

Sasha Indarte, University of Pennsylvania (with Gideon Bornstein)

Discussant: Arna Olafsson, Copenhagen Business School and CEPR

17:50-18:00 Short Break

CEPR-TFI Online Webinar:

Wednesday 14 April 2021

18:00-20:00 CEPR-TFI Online Webinar – Finance and Inequality organised by Laurent Calvet (EDHEC and CEPR)

  • Welcome: Michael Haliassos (Goethe University Frankfurt and CEPR) and Stefan van Woelderen (ING)
  • Opening Remarks: Laurent Calvet (EDHEC and CEPR)


Panel Discussion

Chair: Laurent Calvet (EDHEC and CEPR)

CEPR Sixth European Conference Workshop on Household Finance:
Thursday 15 April 2021

Session 3

Chair: Matti Keloharju (Aalto University and CEPR)


Why Does Consumption Fluctuate in Old Age and How Should the Government Insure It?

Jeanne Commault, Sciences Po (with Richard Blundell, Margherita Borella and Mariacristina De Nardi)

Discussant: Olivia Mitchell, University of Pennsylvania - Presentation Slides


Reference Points in Refinancing Decisions - Presentation Slides

Virginia Gianinazzi, Nova School of Business and Economics

Discussant: Cristian Badarinza, NUS


The Effect of Principal Reduction on Household Distress: Evidence from Mortgage Cramdown

Carlos Parra, Catholic University of Chile (with Jacelly Cespedes and Clemens Sialm)

Discussant: Vimal Balasubramaniam, Queen Mary University of London


Network Steering Committee Meeting

CEPR Sixth European Conference Workshop on Household Finance:
Friday 16 April 2021

Session 4

Chair: Michael Haliassos, Goethe University Frankfurt and CEPR


Stock Market Participation and Exit: The Role of Homeownership - Presentation Slides

Eirik Brandsaas, University of Wisconsin-Madison

Discussant: Joao Cocco, London Business School and CEPR


Dynamic Inconsistency in Risky Choice: Evidence from the Lab and Field - Presentation Slides

Zwetelina Iliewa, University of Bonn (with Rawley Heimer, Alex Imas and Martin Weber)

Discussant: Marieke Bos, Stockholm School of Economics - Presentation Slides


Consumption out of Fictitious Capital Gains and Selective Inattention - Presentation Slides

Michaela Pagel, Columbia University and CEPR (with Benjamin Loos and Steen Meyer)

Discussant: Jonathan Parker, MIT - Presentation Slides 


Closing Remarks

Michael Haliassos, Goethe University Frankfurt and CEPR


Note: For each 40 min slot, presenters have 20 mins to present their paper. A total of 10 mins are allocated to the discussants and 5-10 mins for general discussion.


Programme Committee

Steffen Andersen (Copenhagen Business School and CEPR), Laurent Calvet (EDHEC and CEPR), Joao Cocco (London Business School and CEPR), Francisco Gomes (London Business School and CEPR), Luigi Guiso (EIEF and CEPR), Michael Haliassos (Goethe University Frankfurt and CEPR), Tullio Jappelli (University of Naples Federico II, CSEF and CEPR), Matti Keloharju (Aalto University and CEPR), Alex Michaelides (Imperial College and CEPR), Giovanna Nicodano (Collegio Carlo Alberto, University of Torino), Monica Paiella (University of Naples Parthenope and CEPR), Wenlan Qian (National University of Singapore), Tarun Ramadorai (Imperial College and CEPR), Paolo Sodini (Stockholm School of Economics, SHoF, and CEPR), and Raman Uppal (EDHEC and CEPR).

Local Organiser

Laurent Calvet (EDHEC and CEPR), Kim Peijnenburg (EDHEC and CEPR) and Raman Uppal (EDHEC and CEPR).

Wednesday, April 14, 2021 - 14:00
Friday, April 16, 2021
meeting date: 
Wednesday, April 14, 2021 to Friday, April 16, 2021