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The CEPR Network on Household Finance and Swedish House of Finance organised the Fifth European Household Finance Workshop on 7-9 May 2020 via online webinars with the support of the Think Forward Initiative (TFI) and EIEF. The objective of this workshop was to host presentations and foster interaction between Senior and Junior Researchers working in the area of household finance. The workshop included state-of-the-art research on household financial behaviour and on how this is influenced by other choices, government policies, and the overall economic environment. The three-day research online webinars included a CEPR-TFI online webinar event on “Household Welfare: Do We Need Big Data?”, organised by Paolo Sodini (Stockholm School of Economics and SHoF), at 17:30 on Thursday 7 May 2020. 

Programme Committee
Steffen Andersen (Copenhagen Business School and CEPR), Laurent Calvet (EDHEC Business School, CFS and CEPR), John Campbell (Harvard University and NBER), Joao Cocco (London Business School and CEPR), Russell Cooper (European University Institute), 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), 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, and SHoF), Michele Tertilt (University of Mannheim and CEPR), and Raman Uppal (EDHEC and CEPR).
 
Local Organiser
Paolo Sodini (Stockholm School of Economics and SHoF).
 
Workshop
The workshop took place virtually via online webinars. 

CEPR Fifth European Workshop on Household Finance - Programme

Programme

CEPR Fifth European Workshop on Household Finance

 

CEPR-TFI Event Online Webinar Event: Thursday 7 May 2020 (CEST)

CEPR Fifth European Workshop on Household Finance (Online Webinars): Thursday 7 May-Saturday 9 May 2020 (CEST)

CEPR Fifth European Workshop on Household Finance: Thursday 7 May 2020

14:50-15:00             Opening Remarks

                                 Paolo Sodini, Stockholm School of Economics and SHoF

                                 Michael Haliassos, Goethe University Frankfurt and CEPR

Session Chair:        Paolo Sodini, Stockholm School of Economics and SHoF

15:00-15:40             Resolving the Excessive Trading Puzzle: An Integrated Approach Based on Surveys and Transactions - Presentation Slides

Cameron Peng, LSE (with Hongqi Liu, Wei A. Xiong, and Wei Xiong) 

Discussant: Søren Leth-Petersen, University of Copenhagen and CEPR - Presentation Slides

15:40-16:20             Rationalizing Trading Frequency and Returns: Maybe Trading is Good for You - Presentation Slides

Mengli Sha, Pennsylvania State University (with Yosef Bonaparte and Russell Cooper)

Discussant: Luigi Paciello, EIEF and CEPR

16:20-17:00             Wealth Fluctuations and Risk Preferences: Evidence from U.S.Investor Portfolios

Maarten Meeuwis, MIT

Discussant: Kim Peijnenburg, EDHEC and CEPR - Presentation Slides

 

CEPR-TFI Event: Thursday 7 May 2020

17:30-19:00 CEPR-TFI Event – Household Welfare: Do We Need Big Data?

  • Welcome: Mark Cliffe, Global Head of the New Horizons Hub (ING Group)
  • Opening Remarks: Paolo Sodini (Stockholm School of Economics and SHoF)

Speakers:

  • John Campbell, Professor (Harvard University) - Presentation Slides
  • Martin Flodén, Deputy Governor (Riksbank) 
  • Shiler Khedri, Global Head of Data and Technology at ING Analytics (ING) - Presentation Slides
  • Gianluca Violante, Professor (Princeton University) - Presentation Slides

Panel Discussion

Chair: Karolina Ekholm, Professor (Stockholm University and CEPR)

 

                          CEPR Fifth European Workshop on Household Finance: Friday 8 May 2020

Session Chair:        Michael Haliassos, Goethe University Frankfurt and CEPR

15:00-15:40             Gender Differences in Financial Advice - Presentation Slides

Tabea Bucher-Koenen, ZEW - Leibniz Centre for European Economic Research (with Andreas Hackethal, Johannes Koenen, Christine Laudenbach and Annika Weber)

Discussant:  Anastasia Girshina, Swedish House of Finance

15:40-16:20            Financial Crisis, Creditor-Debtor Conflict, and Populism

Emil Verner, MIT (with Gyozo Gyöngyösi)

Discussant:  Kaveh Majlesi, Lund University and CEPR

16:20-17:00              Removing the Fine Print: Standardization, Disclosure, and Consumer                                            Loan Outcomes - Presentation Slides

                                 Sheisha Kulkarni, University of Virginia (with Santiago Truffa and Gonzalo                                    Iberti)

                                  Discussant: Vimal Balasubramaniam, Queen Mary University of London

17:15-18:15               Network Steering Committee Meeting

 

CEPR Fifth European Workshop on Household Finance: Saturday 9 May 2020

Session Chair:          Francisco Gomes, London Business School and CEPR

15:00-15:40                Till Debt Do Us Part: Strategic Divorces and a Test of Moral                                                            Hazard 

                                    Yeorim Kim, VU Amsterdam, Netspar and De Nederlandsche                                                        Bank (with Mauro Mastrogiacomo, Stefan Hochguertel and                                                            Hans Bloemen) 

                                    Discussant: Michaela Pagel, Columbia University and CEPR                                                           - Presentation Slides

15:40-16:20                Misfortune and Mistake: The Financial Conditions and Decision-Making                                          Ability of High-Cost Loan Borrowers Presentation Slides

                                    Arna Olafsson, Copenhagen Business School, Danish Finance Institute                                      and CEPR  (with Leandro Carvalho and Dan Silverman)                                                                  

                                    Discussant: Huan Tang, HEC Paris

16:20-17:00                Financial Technology Adoption

                                   Sean Higgins, Northwestern University

                                   Discussant: Virginia Gianinazzi, Università della Svizzera italiana                                                     - Presentation Slides

17:00-17:05              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 Business School, CFS and CEPR), John Campbell (Harvard University and NBER), Joao Cocco (London Business School and CEPR), Russell Cooper (European University Institute), 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), 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 and SHoF), Michele Tertilt (University of Mannheim and CEPR), and Raman Uppal (EDHEC and CEPR).

Local Organiser
Paolo Sodini (Stockholm School of Economics and SHoF).

CEPR-TFI Online Webinar Event: Household Welfare; Do We Need Big Data? 

CEPR-TFI Online Webinar Event: Household Welfare; Do We Need Big Data? 

7 May 2020
Online Webinar

The retail banking sector is undergoing a profound transformation, as big data becomes available and is increasingly used to customise and shape retail banking services. Big data is also becoming increasingly necessary to conduct monetary policy, financial stability and insure adequate financial consumer protection. This CEPR-TFI webinar discussed these issues with leading experts from the academic, policy and professional world. The video will last about one hour and a half, with one hour dedicated to the speakers presentations and half hour to a moderated panel discussion. Read the full article here.

 

17:30-19:00 (CEST) CEPR-TFI Event – Household Welfare: Do We Need Big Data?

  • Welcome: Mark Cliffe, Global Head of the New Horizons Hub (ING Group)
  • Opening Remarks: Paolo Sodini (Stockholm School of Economics and SHoF)

Speakers:

  • John Y. Campbell, Professor (Harvard University) - Presentation Slides
  • Martin Flodén, Deputy Governor (Riksbank)
  • Shiler Khedri, Global Head of Data and Technology at ING Analytics (ING) - Presentation Slides
  • Gianluca Violante, Professor (Princeton University) - Presentation Slides

Panel Discussion

Chair: Karolina Ekholm, Professor (Stockholm University and CEPR)

Think Forward Initiative: https://www.thinkforwardinitiative.com/ 

CEPR Network on Household Finance: https://cepr.org/content/cepr-network-household-finance