Objective
The proposal is divided into three strands whose main goals are to i) study macroeconomic fluctuations, ii) identify the mechanisms that drive and propagate these fluctuations, and iii) use the empirical findings to inform and formulate models that can be used for quantitative policy and positive analysis.
The first strand will exploit a new dataset to study housing markets during the build-up and aftermath of the crisis. We will document a robust pattern of history dependence in housing markets and investigate four main channels to potentially explain this pattern: Down payment requirements; matching quality; learning; and anchoring. Using these results we will build and structurally estimate a model with the aim to use in policy and positive analysis.
The second strand studies an unexplored mechanism for the transmission of monetary policy. A main winner from monetary policy expansions in most countries is the government, which sees a reduction in the value of its debt and typically, better borrowing terms. We will investigate how public spending, revenues, and debt management react to changes in monetary policy; the extent to which the response of activity is driven by the public sector; the interactions between public and private sector responses; and the (intra- and inter-generational) distributional effects from monetary policy interventions. We will then formulate a DSGE model embedding a careful description of the government’s role in the transmission mechanism.
The third strand studies the effect of terms-of-trade fluctuations on agricultural production and trade. We will focus on the distribution of gains from trade in markets characterized by oligopsonies buying from small farmers and exporting in international markets. We will study how this configuration, characteristic of agricultural markets in low-income economies, alters the gains from trade and the effects of terms-of-trade changes vis-a-vis the standard framework of perfect competition.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.1. - EXCELLENT SCIENCE - European Research Council (ERC)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
ERC-COG - Consolidator Grant
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) ERC-2015-CoG
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
WC2A 2AE London
United Kingdom
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.