Annual Research report 2015 - ASE

Transcription

Annual Research report 2015
Amsterdam School of Economics
Preface
The 2015 annual research report of the Amsterdam School of Economics (ASE) documents the
organisation, activities and results of its research institute ASE-RI. The funding of the institute
provides the financial means for its staff members to write scientific papers and dissertations, attend
and organise international workshops and conferences and supervise PhD students.
The ambition of the ASE-RI is for the Amsterdam School of Economics to become a European top 10
Economics department based on its research output in Micro-Economics, Macro-Economics and
Quantitative Economics. The research time allocation of the members of ASE-RI is made in line with
this ambition. It is therefore aligned with the Research Fellow criteria of the Tinbergen Institute.
Newly recruited junior faculty start out as tenure-track assistant professors. The criteria for receiving
tenure parallel those for becoming a Tinbergen Institute research fellow.
The overall number of refereed publications in 2015 is slightly less, but comparable with that in
previous years. There were no top five general interest journal publications in 2015 but a considerable
number in top field journals which are considered a notch below. Noteworthy is that the research
priority area Behavioural Economics succeeded in obtaining another 300K Euro research grant from
the University of Amsterdam for the proposal “Complex Human System Labs”.
The Amsterdam School of Economics and therefore also ASE-RE pride themselves with their large
number of highly qualified successful researchers whose research is documented in this yearly report.
Prof. dr. Frank Kleibergen
Director of the Amsterdam School of Economics Research Institute
1
Table of Contents
Part A. The Research Institute
Chapter 1: Institutional review ............................................................................................................5
1.1 Mission statement .........................................................................................................................5
1.2 Organisation..................................................................................................................................5
1.3 Strategy and policy .......................................................................................................................5
1.4 Targets ..........................................................................................................................................6
Chapter 2: Input ...................................................................................................................................8
2.1 Researchers and other personnel ..................................................................................................8
2.2 Resources, funding and facilities ................................................................................................10
Chapter 3: Current state of affairs ................................................................................................... 11
3.1 Processes in research, internal and external collaboration .........................................................11
3.2 PhD programme ..........................................................................................................................12
3.3 Academic reputation ...................................................................................................................13
3.4 Overview of results .....................................................................................................................14
3.5 Relevance to society ...................................................................................................................16
Chapter 4: Research Priority Area: Behavioural Economics .........................................................17
4.1 Background.................................................................................................................................17
4.2 Organisation................................................................................................................................17
Chapter 5: Research Focal Area: Risk and Macro Finance ...........................................................18
5.1 Activities.....................................................................................................................................18
5.2 Background.................................................................................................................................19
5.3 Publications ................................................................................................................................19
Part B. The Research Programmes
Chapter 6: UvA-Econometrics ...........................................................................................................22
6.1 Members of the research group and research in FTEs................................................................22
6.2 Programme Design .....................................................................................................................22
6.3 Programme evaluation ................................................................................................................24
6.4 Resources and funding................................................................................................................25
6.5 Output .........................................................................................................................................25
Chapter 7: Equilibrium, Expectations & Dynamics ........................................................................31
7.2 Programme design ......................................................................................................................32
7.4 Resources and Funding ...............................................................................................................34
7.5 Output .........................................................................................................................................35
Chapter 8: Actuarial Science & Mathematical Finance ..................................................................42
8.5 Output .........................................................................................................................................45
Chapter 9: MInt - Macro and International Economics .................................................................51
9.5 Output .........................................................................................................................................56
2
Chapter 10: Human Capital ..............................................................................................................64
10.1 Members of the research group and research in FTEs..............................................................64
10.2 Programme design ....................................................................................................................65
10.3 Programme evaluation ..............................................................................................................67
10.4 Resources and funding..............................................................................................................69
10.5 output ........................................................................................................................................69
Chapter 11: Experimental & Political Economics (CREED) .........................................................72
11.4 Resources and Funding .............................................................................................................75
11.5 Output .......................................................................................................................................76
Chapter 12: Markets & Organizations .............................................................................................85
12.5 Output .......................................................................................................................................90
Chapter 13: SEO Economic Research ..............................................................................................94
13.1 Members of the research group and research in FTEs.............................................................94
13.3 Programme Evaluation .............................................................................................................96
13.5 Output .......................................................................................................................................97
3
A
THE RESEARCH INSTITUTE
4
CHAPTER 1: INSTITUTIONAL OVERVIEW
1.1 MISSION STATEMENT
ASE-RI (Amsterdam School of Economics Research Institute) facilitates and promotes research at
ASE to foster the academic ideal of intertwined university teaching and research. The institute aims
for research results that significantly improve our understanding of the operation of economic
systems, the behaviour of agents in the economy and the effects of economic policies. ASE-RI aims to
appraise researcher performance and to provide a directive for further research with its standards for
research. Research time is allocated to researchers based on their performance.
1.2 ORGANISATION
ASE-RI, the research institute of the Amsterdam School of Economics, is one of the two research
institutes of the Faculty of Economics & Business (FEB); the other being the research institute of the
Amsterdam Business School (ABS-RI). ASE-RI covers the wide area of economics, econometrics and
actuarial science.
Research is organised in Research Programmes, which are directed by Programme leaders who are
experts with core positions in the curriculum. Stimulating research that significantly improves our
understanding of the economy is meant as a focus on fundamental research. In many cases, the
inspiration for research questions derives from practical problems in business and society as well as
from pressing problems for government policies, as is only natural for a social science. But the
research results should primarily be reported to the international academic community and assessed
against the quality standards that apply there. Such permanent quality assessment feeds back into the
quality of teaching and of advice given to business and the government. Contributions to public
debates should be a consequence of developing reliable knowledge about the economy rather than a
primary goal.
In addition to the Research Programmes, ASE-RI also hosts the Research Priority Area (RPA)
Behavioural Economics. This is one of the 20 fields in which the UvA wishes to actively foster
further development. Researchers from the several programmes participate in the RPA Behavioral
Economics, in particular in the fields of experimental economics, industrial organization, labour
economics, and complex socio-economic systems. In 2014, ASE-RI and ABS-RI jointly have taken
the initiative for a research focal area of the Faculty of Economics and Business on Risk and Macro
Finance, in which researchers from (behavioural) finance, macro-economics, and actuarial science
participate.
ASE-RI closely co-operates with the Tinbergen Institute, where many of ASE-RI’s researchers are
appointed as fellow. The Tinbergen Institute also acts as the graduate school for ASE-RI students.
1.3 STRATEGY AND POLICY
ASE-RI aims to reach its goals by organising, stimulating and monitoring Research Programmes.
Annually, programme performance is assessed. Means are allocated to programmes based on
performance. Research coverage is not directed and controlled by the Faculty’s management, but
develops in an open competitive environment. General policy issues are discussed by the Council of
Programme Directors.
5
The main strategic aim of ASE-RI is to produce research in (quantitative) economics with, on the one
hand, a high impact on the international academic research agenda, and on the other hand a strong
societal relevance.
The first aim is in line with ASE’s ambition to become a Top-10 school in Europe in each of the
broad areas micro-economics, macro-economics, and quantitative economics (as stated in the ASE
Strategic Plan of March 2016). The ambition implies that quality of publications has more emphasis
than quantity. Although some variation in publication culture exists among the research groups, it
means that researchers are encouraged to aim at publishing in the top economics journals and in field
journals with a high citation impact (currently measured by the Article Influence Score, AIS). The
strategy to reach these aims consists of the following elements.
Personnel policy
As stated in the ASE Strategic Plan, vacancies for new research staff are to be filled at the tenure track
level. The school has adopted a 6-year tenure track, with a mid-term review after 3 years. Tenure
criteria include, in addition to teaching performance and external funding, the ability to qualify as
Research Fellow of the Tinbergen Institute, which requires that five publications in a recent five-year
period are in journals with a cumulative AIS of five. In addition, ASE-RI requires that at least three
publications are in a medium-impact field journal, or one in a Top-5 journal. As of 2014, recruitment
of tenure track assistant professors occurs through the American academic job market, where a joint
ASE recruitment committee aims to attract the most talented candidates, in line with the teaching
requirements of the research‐based bachelor and master programmes that the school offers in
combination with the school’s Top‐10 ambition. Tenure and promotion decisions are made by the
Dean. The promotion and Tenure (P&T) Committee advises the Dean based on a standard set of
criteria and after the consultation of full professors in the department.
Research time allocation
Each year, tenured faculty members with a research appointment (assistant, associate and full
professors) are allocated research time based on research output. Currently the maximum research
time for fulltime appointments (except for externally funded research) is 0,5 fte. As of 2014, the
criteria for this maximum research time are aligned with criteria for Research Fellowship of the
Tinbergen Institute, as indicated above. Researchers who do not satisfy these criteria may earn 0,25
fte, if their research output satisfies the corresponding fraction of the TI criteria. ASE-RI aims to
appraise researcher performance and to provide a directive for further research with its standards for
research.
PhD programme and placement
A third approach to increasing the school’s international research impact is through its PhD
programme. As detailed below, ASE-RI’s PhD programme is organised by the Tinbergen Institute
graduate school. Through a systematic process of training, research supervision and job market
preparation, the school aims at (and has succeeded in) placing its PhD graduates at good European
and American departments.
ASE-RI also stimulates concentration of the school’s research in Research Programmes by other
means (such as providing an annual budget for conference visits and other academic activities to the
Research Programmes).
1.4 TARGETS
In view of the general aims, the specific targets related to research that are stipulated in the FEB’s
strategic plan 2015-2020 are:


A gradual increase in the percentage of the internal research funds spent on research in the RPA;
A growth in the number publications per research fte, in top journals;
6






An increase in the percentage of PhD projects completed within four years;
An increase in the number of PhD defences;
An increase in the percentage of research funded by the second stream (NWO, KNAW, ERC, EU);
An increase in the number of personal grants and distinctions;
An increase in the number of research projects, and income derived from “second money stream” and
“third money stream” funding;
Placement success of PhDs (percentage of PhDs getting placed at either a very good academic
institution, or non-academic high profile organisations).
These targets were set at the faculty level, but are in line with the targets for the ASE-RI research
programmes, with an emphasis on further growth of external funding to compensate for the expected
decline in internal funding for tenured research and PhD positions. A further target is to attract excellent
candidates for tenure track assistant professorship positions from the American academic job market, to
help realise the ambition to become one of the Top-10 schools in Europe in Economics.
7
CHAPTER 2: INPUT
2.1 RESOURCES AND OTHER PERSONNEL
Personnel policy and human resource management are the domain of the department chairs and
section heads. ASE-RI encourages the sections to hire good researchers and to stimulate faculty to
increase the quality and quantity of academic publications, and has a vote in promotion and tenure
decisions. Broader strategy issues concerning hiring and firing are discussed within the Amsterdam
School of Economics management team and this has resulted in a document on personnel policies in
which the requirements that current and new staff should meet are clearly defined.
The tables below give information on ASE-RI faculty. Table I shows that in 2013, the overall research
capacity was relatively high. In 2014 the research capacity declined, although the number of PhD
students still increased, in line with previous years. In 2015, the overall research capacity declined
further. This year, the number of PhD students declined as well. A noticeable change is both the
absolute and relative increase of the number of staff financed by the third flow of funds.
Table I: Input research staff at institutional level (FTE)
fte
WP 1 (first flow of funds, excl. PhD's)
WP 2 (second flow of funds, excl. PhD’s)
WP 3 (third flow of funds, excl. PhD's)
PhD students
Total Research staff
Support staff ASE-RI (bureau)
Total Staff
2013
20,90
8,11
33,93
27,98
90,92
0,89
91,81
2014
18,83
8,23
30,67
30,34
88,07
0,89
88,96
2015
18,04
6,26
34,27
27,81
86,38
0,89
87,27
Table II: Input research staff at programme level (FTE)
UvA-Econometrics
WP 2 (second flow of funds, excl. PhD's)
PhD students
fte
2013
1,87
0,80
0,00
3,47
2014
1,40
0,80
0,00
3,73
2015
2,25
0,80
0,00
2,33
6,14
5,93
5,38
Equilibrium, Expecatations & Dynamics
PhD students
fte
2013
2,41
2,67
0,74
3,60
9,42
2014
2,91
2,58
0,80
2,47
8,76
2015
3,06
1,95
0,00
2,47
7,48
Actuarial Science & Mathematical Finance
PhD students
fte
2013
1,16
1,40
1,11
1,92
5,59
2014
1,37
1,18
0,68
3,39
6,62
2015
1,38
0,00
2,11
3,39
6,88
8
Industrial Statistics
PhD students
fte
2013
0,20
0,00
1,40
1,46
2014
-
2015
-
Macro and International Economics
PhD students
fte
2013
3,64
0,77
0,25
4,61
9,27
2014
3,92
0,85
0,55
8,46
13,78
2015
4,14
0,85
0,55
8,46
14,00
Human Capital
PhD students
fte
2013
0,59
1,86
0,05
2,74
5,24
2014
0,64
1,75
0,00
2,02
4,41
2015
1,18
1,06
0,20
1,73
4,17
Experimental & Political Economcis
PhD students
fte
2013
3,31
0,08
0,00
6,99
10,38
2014
4,84
0,80
0,00
7,89
13,53
2015
3,50
0,80
0,00
7,05
11,35
Markets & Organizations
PhD students
fte
2013
7,72
0,53
0,26
3,19
11,70
2014
3,75
0,27
0,00
2,38
6,40
2015
2,53
0,80
0,00
2,38
5,71
SEO
PhD students
fte
2013
0,00
0,00
30,12
0,00
30,12
2014
0,00
0,00
28,64
0,00
28,64
2015
0,00
0,00
31,41
0,00
31,41
As shown in table III, most faculty are in the ranks of full professor and PhD student (the number of
researcher (oz) fte is highest, but the majority are working at SEO Economic Research). Overall there
seems to be a healthy mix of researchers in different stages of their career, although the numbers of
associate professors and postdocs are low.
9
Table III: Ranks at programme level
Hgl
Research programme
UvA- Econometrics
Equilibrium, expectations &
dynamics
Actuarial science
MInt
Human Capital
Experimental & political
economics
SEO economic research
Total
Uhd
Ud
Oz
PhD
Postdoc
Total
Guest
#
2
fte # fte # fte #
1,10 3 1,24 2 0,71 0
fte #
0,00 0
fte
0,00
4
3
8
4
1,85
1,45
2,53
1,88
2
0
0
0
0,63
0,00
0,00
0,00
1
5
7
1
0,50
1,39
2,21
0,56
0
0
0
0
0,00 4
0,00 2
0,00 1
0,00 0
2,03 4 2,47
0,65 7 3,39
0,80 12 8,46
0,00 4 1,73
6
7
8
4
0,00
0,00
0,00
0,00
21 7,48
24 6,88
36 14,00
13 4,17
6
4
1
32
2,17
1,08
0,80
12,86
0
1
0
6
0,00
0,50
0,00
2,37
5
5
0
26
0,80
1,75
0,00
7,92
1
0
46
47
0,80
0,00
30,61
31,41
0,53 12 7,05 1
0,00 5 2,38 0
0,00 0 0,00 0
4,01 48 27,81 29
0,00
0,00
0,00
0,00
26
15
47
196
1
0
0
8
#
4
fte
2,33
# fte #
3 0,00 14
fte
5,38
11,35
5,71
31,41
86,38
* hgl=professor, uhd=associate professor, ud=assistant professor, oz=researcher, pdoc=postdoctoral fellow
2.2 RESOURCES, FUNDING AND FACILITIES
A substantial part of the faculty’s research budget is spent on the Tinbergen Institute, where it is used
to cover the expenses of the MPhil programme, courses for both MPhil and PhD students and the
organisation of seminars. Another large part of the budget concerns funding of the research priority
area ‘Behavioural Economics’.
Furthermore, the sections of ASE are allocated a budget for matching and a budget for its Research
Programmes. The current faculty allocation mechanism, whereby research funding of the first
category is allocated to the research programmes, was developed after a major faculty reorganisation
in 2010, which became necessary when the faculty was facing rapidly increasing deficits at the end of
2009. Currently the entire research budget of the faculty of the first category is a lump sum
determined by the university based on Bachelor and Master diplomas and on the number of completed
PhD theses. It is divided between the research programmes based on their number of completed PhD
theses and on research time allocated to their individual researchers. This budget can be used for the
funding of research fte’s and for any research related activities of programme members, such as
visiting conferences, conducting experiments and collecting data.
10
CHAPTER 3: CURRENT STATE OF AFFAIRS
3.1 PROCESSES IN RESEARCH, INTERNAL AND EXTERNAL COLLABORATION
As explained in previous chapters, ASE-RI allocates resources based on past performance. ASE-RI
stimulates and facilitates application for external funding (NWO, KNAW, EU). In general, the
research institute tries to stimulate an active research environment, and it tries to assist programme
members, when necessary, by providing them with information and administrative support. The
overall quality of the various seminar series is good. Especially in the Tinbergen Institute series
foreign speakers are usually invited and the debates are lively.
Actual research management takes place within the Research Programmes. Decisions on research
strategies, research topics, joint work, participation in international networks and publication outlets
are all taken within these Programmes, sometimes by the Programme director, but mostly in an
informal way by direct communication and interaction within these groups. Research groups are
typically small and interaction is frequent, direct and effective.
Box I: Seminar series organised in co-operation with ASE-RI
Tinbergen Institute / CREED Seminars series
Organisation: Jeroen van de Ven and Joël van der Weele
Tinbergen Institute Econometrics Seminars & Workshops series
Organisation: Simon Broda and Frank Kleibergen
Tinbergen Institute PhD Lunch Seminars Series
Organisation: Jindi Zheng and Oana Furtuna
Tinbergen Institute Organizations & Markets Double Seminars
Organisation: Sander Onderstal and Jose L. Moraga-Gonzalez
Tinbergen Institute Macro Seminars
Organisation: Christian Stoltenberg and Björn Brügemann
Tinbergen Institute Complexity in Economics seminar series
Organisation: Isabelle Salle and Marco van der Leij
KAFEE Lunch seminar
Organisation: Stephanie Chan, Egle Jakucionyte, Joep Lustenhower and Francisco Gomez Martinez
Another way in which ASE-RI creates a stimulating research environment is by participating in the
Tinbergen Institute (TI). Two other Dutch universities (Erasmus University and VU University)
participate in the TI. It is their joint graduate school which facilitates exchange amongst its fellows
(top researchers of the three participating faculties) by hosting seminar series and publishing a
discussion paper series.
11
3.2 PHD PROGRAMME
The PhD programme of ASE-RI is organised by the graduate school in Economics, Econometrics and
Finance of the Tinbergen Institute (TI). It involves completing TI’s 2-year MPhil research master
programme before the start of the PhD appointment, a process of matching and selection of students
during the second year of the MPhil programme, a three-year appointment as PhD student at one of
the three participating universities, and (for those students who aim for an academic career after
graduation) a preparation for the international academic job market. The advantage of this system is
that it offers students an excellent research-oriented two-year programme with good opportunities to
meet top-level supervisors (TI-fellows).
Table IV: PhD Inflow 2005-2015
Cohort
1st flow of fund projects
2nd flow of fund projects
3rd flow of fund projects
Total projects started
2005
1
1
2
4
2006
4,5
3
1,5
9
2007
5
2
2
9
2008
7
4
1
12
2009
6
3
1
10
2010
3
1
1
5
2011
2
7
2
12
2012
9
2
3
14
2013
11
1
2
14
2014
5
2
1
8
2015
4
7
2
13
The number of PhD students starting a PhD project within ASE-RI was uneven in previous years and
stabilized around an annual inflow of around 9 since 2006. After a decline in 2010, the inflow
increased in the years between 2011 and 2015, with a short decline in 2014. As can be seen from
Table IV, there are major differences between the flows of fund.
In recent years the outflow of students from the Tinbergen Institute who completed their MPhil was
sufficient to fill in all PhD vacancies.
Table V: PhD completion rates
Starting
year
Inflow
Graduated
in year 4 or
earlier
Graduated
in year 5 or
earlier
Graduated
in year 6 or
earlier
Not yet
finished
Discontinued
#
%
#
%
#
%
#
%
#
%
2006
9
1
11%
2
22%
7
78%
2
22%
0
0%
2007
9
0
0%
3
33%
8
89%
1
11%
0
0%
2008
12
7
58%
8
67%
9
75%
1
8%
2
17%
2009
9
5
56%
7
78%
7
78%
2
22%
0
0%
2010
5
0
0%
4
80%
80%
1
20%
0
0%
-
4
31%
0
0%
2011
13
4
31%
9
69%
4
-
Although the completion rates vary over the years, it is remarkable that the percentage of PhD
projects completed in 5 years or less has grown over the years: of cohort 2006, only 22% graduated
within 5 years, whereas in cohorts 2009-2011, on average 76% graduated within 5 years. More recent
experience substantiates the claim that as the proportion of PhD students following the TI programme
increases, the percentage of students finishing within 4 years will increase further. This can be partly
explained by the fact that such students only have a salaried position for three years, as opposed to the
four-year positions in the past. Furthermore, students entering such four year positions typically lack a
research master background, and therefore have to complete a substantial amount of coursework in
the first year of their PhD appointment. By contrast, the writing of an MPhil thesis, which typically
12
will end up in the PhD thesis as a first chapter, gives MPhil graduates a head start. Most importantly,
however, students who have completed the MPhil programme have been pre-selected based on
academic talent and motivation, and have been exposed for two years to a peer group of similarly
ambitious and talented students. It is clear that this peer group is increasingly focused on the academic
job market, and hence on producing a single-authored job market paper within a period of two years
after starting the PhD project, which, in combination with the factors mentioned earlier, will lead to
improving PhD completion rates.
In 2011, 4 additional PhD projects started at ASE, in the context of the doctoral programme European
Doctorate in Economics - Erasmus Mundus (EDEEM), which started in 2009. EDEEM gathers seven
leading European institutions and is coordinated by Universität Bielefeld in Germany. PhD projects
within this programme concern joint doctorates, which means that the preparation of the PhD thesis is
carried out in 2 or more partner universities within the consortium. PhD students bring their own
living allowances, that are covered by the EU. All 4 PhD students who started in 2011 have graduated
within 55 months. In both 2013 and 2014, 2 more PhD students started at ASE and in 2015, 1 PhD
student started.
Table VI: PhD placement
Top academic or highprofile international
Year of
dissertation organisation
2008
2009
2010
2011
2012
2013
2014
2015
#
2
3
5
5
11
3
3
7
%
100
50
100
100
61
38
60
54
Students with an ambition to develop a career in academia after finishing their PhD are actively
encouraged to participate in TI’s job market preparation programme. This involves, among other
things, feedback to improve the CV and reference letters, and mock job seminars and interviews to
prepare for the American academic job market. In contrast with common practice up to a decade ago,
in general ASE does not select tenure track candidates from its own pool of graduated PhD students.
As mentioned above, the group of PhD students that enter the programme through TI’s MPhil
programme is increasingly oriented towards the academic job market. Out of the 5 ASE-RI students
who defended their PhD thesis in 2015, 54% of the initial placement was at a university from the top
200 of the QS ranking in the subject category Economics & Econometrics or a high-profile
international organisation such as the International Monetary Fund.
3.3 ACADEMIC REPUTATION
In the most recent Tilburg University Top 100 of Economics Schools Research Ranking (2014) the
Faculty of Economics and Business was ranked 2nd in the Netherlands, 5th in Europe and 23rd
worldwide.1 This differs from the results of the ESB Economen-top 40 of 2015, where UvA ranked 3rd
1
https://econtop.uvt.nl/rankinglist.php.
13
in the Netherlands2. The 201 QS World University Rankings by Subject puts the UvA in rank 41 for
the discipline Economics and Econometrics (3RD in the Netherlands).3
3.4 OVERVIEW OF RESULTS
Figure I: Publications 2011-2015
140
120
100
Refereed articles
80
60
Non-refereed articles
40
Publications in/of refereed
books
20
0
2011
2012
2013
2014
2015
5y
Average
Figure I shows that in 2012 the output declined. Although the research input had picked up again after
a reorganization of the Faculty of Economics and Business in 2010, PhD students had by then taken
up an increasing proportion of the scientific staff, substituting part of the senior research faculty. In
2013, the research input increased further to 90,92 research fte (see table I), along with a further
increase in the proportion of PhD students. The output increased slightly. In 2014 and 2015 however,
both the research input (88,07 fte and 86,38 respectively) and the output decreased. In 2015 the
proportion of PhD students had also started to decrease.
Table VII: Refereed articles 2015
UvA-Econometrics
Equilibrium, Expectations and Dynamics
Actuarial Science & Mathematical Finance
Macro and International Economics
Human Capital
Experimental & Political Economics
SEO
Total ASE-RI*
Top
Other
3
1
2
8
2
18
6
4
2
9
11
5
3
7
2
12
44
51
*duplications removed
2
3
http://www.economie.nl/artikel/economentop-40-2015.
http://www.topuniversities.com/university-rankings/university-subject-rankings/2015/economics-econometrics.
14
ASE-RI aims to increase the quantity and quality of its publications, in particular in refereed journals.
For this purpose, publications are graded by the quality level of the journals. Based on the Article
Influence Percentile Score, top publications can be distinguished.4 Table VII shows that overall, the
number of publications in top-refereed journals is a little bit lower than publications in other journals.
See table VIII for an overview of the output of the research groups.
Table VIII: Aggregated results of the institute
UvA-Econometrics
Equilibrium, Expectations
& Dynamics
Actuarial Science &
Mathematical Finance
Macro and International
Human Capital
Experimental & Political
Economics
SEO
Total
Conference PhD
proceedings theses
al
Working
papers
Po
pu
lar
ion
Pr
of
No
n-r
e
ess
fer
d
Re
fer
ee
ess
Po
pu
lar
ion
al
eed
Books or book chapters
Pr
of
No
n-r
e
Re
fer
ee
d
fer
eed
Articles in journals
5
0
0
0
1
0
0
0
0
3
3
10
0
3
0
0
0
0
0
0
2
13
13
13
5
0
3
0
1
6
1
0
5
2
1
1
1
0
1
0
0
0
0
0
1
0
0
0
0
1
2
1
2
13
7
24
8
16
94
0
0
6
9
0
1
25
37
0
0
3
10
0
1
1
6
0
0
1
2
0
0
0
0
0
0
0
1
0
0
1
1
4
3
0
16
9
14
8
69
Figure II: FEB Dissertations
30
25
20
II
15
I
10
5
0
2010
2011
2012
2013
2014
2015
*Category I: students who worked at FEB and graduated at FEB, II: external candidates who graduated at FEB.
4
All journals with an Article Influence percentile score of ≥ 80 are considered to be ‘top’. A journal's Article Influence score is a measure of
the average influence of each of its articles over the first five years after publication. Scores are based on www.eigenfactor.org.
15
The year 2012 showed a particular high increase of completed dissertations compared to previous
years. After a decline in 2013 and 2014, the number increased to 14 in 2015. It is expected that the
number will be around the average level of the last 3 years, in the years to come.
3.5 RELEVANCE TO SOCIETY
Although the main aim of ASE-RI is to let its research contribute to the international academic
discourse, most research done within ASE-RI programmes contributes in several ways to society at
large. Some examples are given here but more detailed information can be found in the programme
sections in part B of this report.
The Human Capital Research Programme participates in TIER, an inter-university top Institute that
conducts research in the field of evidence based education. The Top Institute wants to develop
knowledge of ‘evidence based education’ that can be utilised by: 1) the Ministry of Education,
Culture and Science in policy preparation and evaluation; 2) the educational practice – for example in
educational institutions – in the allocation of resources and in the decision making process when
choosing between educational theories; and 3) parents and students when choosing a school or
training.
Researchers from the programmes Macro and International Economics and Actuarial Science &
Mathematical Finance have strong ties with NETSPAR (network for studies on pensions, aging and
retirement) and their research results will strongly impact the ways in which government and society
will deal with the problems in these areas. In 2012 the Chair in Pension Economics was established,
sponsored by MN. In addition, MInt has PhD students financed by De Nederlandsche Bank.
SEO Economic Research carries out contract research for ministries and public organisations, private
companies and non-profit institutions, nationally and internationally. SEO distinguishes itself from
other research bureaus by its analytical approach. Modern economic analysis is applied to practical
issues. Empirical questions are tackled with the econometrics toolkit.
16
CHAPTER 4: RESEARCH PRIORITY AREA: BEHAVIOURAL
ECONOMICS
4.1 BACKGROUND
The Board of the University of Amsterdam set out a policy to create a number of Research Priority
Areas to move already promising areas to further excellence. Behavioural Economics, an important
field within the Amsterdam School of Economics (ASE), was selected as one of them and started late
2008. The goal of the Priority Area is to promote research in the field of Behavioural Economics.
Behavioural Economics focuses on economic decision-making and goes beyond traditional economic
theories that assume rationality and narrow self-interest: social preferences, emotions and bounded
rationality are taken seriously. Behavioural economists therefore make extensive use of insights and
theories of adjacent disciplines like psychology, sociology and political science. However, it is a
typical economic science by the choice of topics and the way data are analysed and models are
developed.
Research in Behavioural Economics has a strong empirical foundation; data are gathered in laboratory
or field experiments. The department already had a standing tradition in laboratory experiments and in
recent years researchers from various fields in the department (e.g. industrial organisation, labour
economics, non-linear dynamic systems, personnel economics, law and economics, finance) had
found their way to the laboratory. Nevertheless, to start with experimental research is not that easy.
One needs to acquire practical knowledge and abilities, and one needs funds (e.g. to pay participants
of experiments). The Research Priority Area Behavioural Economics helps by providing funds and
dissemination of knowledge. In internal seminars researchers
comment on each other’s plans (compulsory for funding), a
workshop is organised annually and international visits from or to coauthors are financed.
In 2011, the Research Priority Areas of the University of Amsterdam
were evaluated and in that context a bibliometric citation analysis was
carried out by CWTS. The analysis concerned all publications in the
Web of Science database over the period 2000-2010 of the
researchers involved in the Research Priority Areas. Behavioural Economics received a positive
evaluation. The average normalized number of citations of the publications (MNCS) was 1,72, which
means that on average the publications of Behavioural Economics had been cited 1,72 as frequently as
would be expected based on the field, publication year, and document type. The proportion of
publications belonging to the top 10% most frequently cited publications in the field (PPtop10%) was
twice as much as was as expected with a score of 20%.
4.2 ORGANISATION
In 2015 the Research Priority area succeeded in hiring Shaul Shalvi. Shalvi studies the mechanisms at
the roots of corruption. His main research interest is in particular in behavioral ethics. In the next
years his work is financed by an ERC starter’s grant that started in September 2015.
After its success in 2014, when the Research Priority Area Behavioural Economics succeeded in
acquiring Additional Funding of 301K euro per year on the basis of the grant proposal
“Communication by Action and Market Design”, it was again successful in 2015, and acquired an
ongoing grant similar in size on the basis of the proposal “Complex Human System Labs”. This grant
makes it possible to construct a new large scale laboratory infrastructure that will effectively allow the
researchers to run large scale experiments and it allows to hire a top-researcher who will contribute to
the success of the new Lab.
17
CHAPTER 5: RESEARCH FOCAL AREA: RISK AND MACRO
FINANCE
5.1 ACTIVITIES
The Amsterdam Center of Excellence in
Risk and Macro Finance (ACRM) hosting
the activities of the Risk and Macro
Finance research focal area of the
University of Amsterdam's Faculty of
Economics and Business, and directed by
Prof. Roger Laeven, Prof. Enrico Perotti
and Prof. Sweder van Wijnbergen, has
seen a very successful second year.
Its main activities and successes in 2015 include:
1. ACRM has organized two flagship events:
o An academic workshop on Micro Foundations for Micro Finance Research: Demand
for Safety (June 11-12, 2015), featuring internationally leading academics in the field
from Amsterdam, Berkeley, St. Gallen, Michigan, Northwestern, Oxford,
Pennsylvania, and Princeton.
o A policy oriented meeting on insurance regulation and market-consistent valuation
(November 6, 2015), featuring distinguished academics, practitioners, regulators and
policymakers.
2. ACRM has organized the Risk and Macro Finance seminar series on academic top-level
research overlapping the areas of macroeconomics, finance and risk management. Featured
speakers include top academics from Columbia, ECB, INSEAD, LSE, NY FED, NYU,
Oxford and Princeton.
3. ACRM has successfully completed its first PhD selection process and will be funding one
ACRM PhD position per September 2016.
4. ACRM has awarded 10 Junior Risk and Macro Finance Fellowships 2015-2016 to junior
researchers representing the full width of Risk and Macro Finance research at the FEB and its
two schools.
5. ACRM has published the second volume of the Risk and Macro Finance Working Paper
series.
6. In 2015, the ACRM directors got their ACRM research accepted in top notch journals, such
as the Journal of Financial Economics, the Journal of Monetary Economics, the Journal of
Environmental Economics and Management, Insurance: Mathematics and Economics, and
the Annals of Statistics. ACRM publications will be collected in the ACRM Publication
Database.
7. Prof. Laeven was nominated for most promising researcher under age 40 across all disciplines
by The New Scientist.
8. In his Camdessus Lecture at the IMF on May 14, 2015, Mario Draghi, president of the
European Central Bank (ECB), used the research published by ACRM co-director Prof. van
Wijnbergen and ACRM junior Risk and Macro Finance fellow Dr. Homar.
9. ACRM co-director Prof. Laeven was selected as academic member of the Insurance and
Reinsurance Stakeholder Group (IRSG) advisory body of the European Insurance and
Occupational Pensions Authority (EIOPA). This body facilitates consultations between
stakeholders and EIOPA’s Management Board.
10. Prof. van Wijnbergen was appointed external academic advisor to the Dutch Central Bank
(DNB).
18
11. Prof. Perotti served as a 2015 Duisenberg Fellow to lecture on research on financial stability
and advise on prudential policy, both at the European Central Bank (ECB) and the Single
Supervisory Mechanism (SSM)
12. Junior Risk and Macro Finance Fellows Lucyna Górnicka and Timotej Homar, both advised
by Prof. Van Wijnbergen, were placed at the IMF and the ECB, respectively.
5.2 BACKGROUND
Economics and Business at the University of Amsterdam has defined Risk and Macro Finance as a
key research theme (“research focal area”), seen as a convergence and integration of methodologies to
develop a more insightful view of recessions, financial crises and systemic risk. Such crossdisciplinary research is much-needed to adequately respond to some of the most fundamental
economic problems of our times: (i) endogenous risk creation and interconnectedness of financial
markets and institutions; (ii) the relation between government finances and the financial sector; (iii)
the financing of long term guarantees in insurance and pensions; and (iv) the regulation of the broader
financial sector. The initiative is the first of its kind in Europe. It pursues top-quality academic
research, but also aims at facilitating policy and practice. The initiative is broadly supported by the
Amsterdam Business School and the Amsterdam School of Economics.
ACRM’s website http://www.acrm.uva.nl contains further details about its activities.
5.3 PUBLICATIONS
Forthcoming publications
Van Wijnbergen, Sweder J.G. & M.K. Kirchner (2016). Fiscal Deficits, Financial Fragility, and the
Effectiveness of Government Policies. Journal of Monetary Economics.
Van Wijnbergen, Sweder J.G. & Lin Zhao (2016). A real options perspective on Valuing Gas Fields.
Journal of Derivatives.
Publications
Aït-Sahalia, Yacine, Julio A. Cacho-Diaz & Roger J. A. Laeven (2015). Modeling financial contagion
using mutually exciting jump processes, Journal of Financial Economics 117, 585-606.
Can, S. Umut, John H. J. Einmahl, Estate V. Khmaladze & Roger J. A. Laeven (2015).
Asymptotically distribution-free goodness-of-fit testing for tail copulas, Annals of Statistics
43, 878-902.
Eeckhoudt, Louis & Roger J. A. Laeven (2015). The probability premium: A graphical representation,
Economics Letters 136, 39-41.
Ikefuji, Masako, Roger J. A. Laeven, Jan R. Magnus & Chris Muris (2015). Expected utility and
catastrophic consumption risk, Insurance: Mathematics and Economics 64, 306-312.
Molina-Borboa, J.L., S. Martínez-Jaramillo, F. López-Gallo & M. van der Leij (2015). A multiplex
network analysis of the Mexican banking system: link persistence, overlap, and waiting times.
The Journal of Network Theory in Finance 1 (1), 99-138.
Poledna, S., J.L. Molina-Borboa, S. Martínez-Jaramillo, M. van der Leij & S. Thurner (2015). The
multi-layer network nature of systemic risk and its implications for the costs of financial
crises. Journal of Financial Stability 20, 70-81.
Van Wijnbergen, Sweder J.G. & Tim Willems (2015). Learning dynamics and support for economic
reforms: Why good news can be bad. The World Bank Economic Review.
Van Wijnbergen, Sweder J.G. & Tim Willems (2015). Optimal learning on climate change: why
climate skeptics should reduce emissions. Journal of Environmental Economics and
Management 70, 17-33.
19
ACRM working papers
Veld, Daan in 't, Marco J. van der Leij & Cars Hommes (2015). The Formation of a Core Periphery
Structure in Heterogeneous Financial Networks, ACRM Working Paper 2015-01.
Golec, Pascal & Enrico C. Perotti (2015). Safe Asset Demand: A Review, ACRM Working Paper
2015-02.
Döttling, Robin and Enrico C. Perotti (2015). Technological Change and the Evolution
of Finance, ACRM Working Paper 2015-03.
Chan, Stephanie and Sweder J. G. van Wijnbergen (2015). Coco Design, Risk Shifting Incentives and
Financial Fragility, ACRM Working Paper 2015-04.
Policy publications
Can, S. Umut & Roger J. A. Laeven (2015). Determining the right tail dependence model using R, De
Actuaris, May 2015.
Goodhart, Charles A.E. & Enrico C. Perotti (2015). Containing maturity mismatch. VoxEU.org, 10
September 2015.
20
B
THE RESEARCH PROGRAMMES
21
6. UvA-ECONOMETRICS
Programme director:
METIS-code:
JEL-classification:
Starting date:
Website:
Prof. dr. H.P. Boswijk & Dr. M.J.G. Bun
uva/feb/ase/uva-e
C1, C2, C3, C4, C5
1997
www.ase.uva.nl/uva-econometrics
6.1 MEMBERS OF THE RESEARCH GROUP AND RESEARCH IN FTES
Name
Boswijk, H.P
Broda, S.A.
Bun, M.
Çakmaklı, C.
Çakmaklı, C.
Cramer, J.S.
Garderen, K.J. van
Giersbergen, N.P.A. van
Gooijer, J.G. de
Juodis, A.
Kiviet, J.F.
Kiviet, J.F.
Kleibergen, F.R.
Kleibergen, F.R.
Klein, A.A.B.
Liu, Y.
Oomen, R.C.A.
Ophem, J.C.M. van
Pleus, M.
Poldermans, R.
Pua, A.
Yang, X.
Total 1st flow of funds
Total 2nd flow of funds
Total 3rd flow of funds
Total 1st f.o.f. excl. PhD's
Total 1st-3rd flow of funds
PhD students
Title
prof. dr.
dr.
dr.
msc
msc
prof. dr.
dr.
dr.
prof. dr.
msc
prof. dr.
prof. dr.
prof. dr.
prof. dr.
dr.
msc
dr.
dr.
msc
msc
msc
msc
Function
hgl
ud
uhd
ud
guest
hgl
uhd
ud
guest
phd
hgl
guest
hgl
guest
ud
phd
guest
uhd
phd
phd
guest
phd
Total
2013
0,50
0,50
0,80
0,04
0,00
0,17
0,28
0,00
0,80
0,13
0,00
0,00
0,27
0,00
0,25
0,80
0,80
0,00
0,80
2,94
3,20
0,00
1,87
6,14
3,47
Total
2014
0,50
0,50
0,80
0,00
0,00
0,08
0,07
0,00
0,80
0,00
0,00
0,00
0,80
0,25
0,80
0,80
0,53
2,73
3,20
0,00
1,40
5,93
3,73
Total
2015
0,50
0,50
0,80
0,00
0,19
0,21
0,00
0,73
0,00
0,60
0,80
0,25
0,40
0,40
3,05
2,33
0,00
2,25
5,38
2,33
Funding
1
1
2
1
1
1
1
1
1
2
1
1
1
1
1
1
1
1
2
2
1
1
6.2 PROGRAMME DESIGN
Objective
The UvA-Econometrics programme aims at improving the accuracy, efficiency and robustness of
econometric inference methods.
22
Motivation
Empirical economic data are usually not obtained from markets or agents in static equilibrium.
Typically they provide a random and disturbed indication at a certain moment in time, or over a
relatively short period, of dynamic jointly dependent adjustment processes. Also they usually concern
just a few aspects of the underlying complex (non-) linear economic system.
The various projects united in this programme all try to gear statistical techniques to the typical
characteristics of empirical economic data. The main interest is the development of accurate and
efficient econometric inference to test economic theory, to support decision making and for policy
evaluation.
Techniques
Both analytic and experimental methods are used in this programme to improve understanding of the
available statistical inference techniques, and to develop alternatives. The analytic aspects often
involve the derivation of asymptotic distributions, the approximation of finite sample moments or
distribution functions, the elimination of nuisance parameters etc. In computer simulations of
completely specified systems the existing standard procedures and the newly developed techniques
are then compared and evaluated experimentally. Occasionally the alternative techniques as such are
of an experimental nature, because they involve computer-intensive methods (bootstrap resampling,
randomization techniques, simulation-based inference). Actual data often serve to illustrate the
empirical relevance and practical usefulness of the theoretical findings, but at times empirical issues
are the prime motivation of the research projects engaged in.
Applications
The fundamental problems of econometrics indicated above are studied in interplay with actual
applied econometric research. These applications come from economics, finance or business. We do
not intend to provide an exhaustive overview of specific applications, but UvA-Econometrics is active
in labour economics (wage determination, job mobility and allocation, returns to schooling),
development economics (exports and productivity, infant mortality), health economics (organization
of health care, intelligence and mortality), finance (measurement and modelling of stock return
volatility, option pricing, credit risk, risk premia), international economics (effects of trade policy and
economic integration), monetary economics (demand for money, term structure of interest rates) and
business (marketing activities). The economic behaviour of individual agents is analysed on the basis
of observational or experimental data of various dimensions (cross-section, time series or panel data).
Sub-themes
Within the general programme described above, the following sub-themes can be distinguished:
Econometric Theory
Within this sub-theme, analytical finite sample approximations, simulation-based inference, inference
based on IV/GMM with weak instruments, conditional inference, methods from differential geometry
as well as semi- and non-parametric methods are studied for and applied in models that may be
dynamic, simultaneous or non-linear.
Microeconometrics
Econometric analyses within this sub-theme often entail a quantitative assessment of the effectiveness
of a policy intervention. Outside controlled experiments policies are usually endogenous. Unbiased
assessment of effectiveness requires adequate modelling of the causality, handling of any unobserved
heterogeneity and understanding of the identification issues. Applications within this sub-theme often
include panel data, which calls for the development of accurate inference methods for dynamic panel
data models.
23
Financial Econometrics
Topics are ARCH and stochastic volatility models, the econometrics of the CAPM and factor models,
econometric models of the term structure of interest rates, econometric analysis of credit risk, the
analysis of option data and implied volatilities, and the analysis of high-frequency data and realized
volatility. Applications within this sub-theme often include non-stationary data. This leads to the
analysis of unit roots, cointegration and error correction models, the role of (weak) exogeneity in such
models and structural change.
6.3 PROGRAMME EVALUATION
The output of the research group is not well spread over its members since it primarily results from a
smaller sub group. We hope that the arrival of Frank Kleiberen (who started January 1-st 2015 funded
by a three year fellowship of the Amsterdam Academic Alliance) helps to increase the overall
productivity. It has already helped to recruit new PhD students. We also expect that the new tenure
track appointment increases the research output.
Almost weekly, a Friday afternoon (mostly external) seminar is organised at (and funded by) the
Tinbergen Institute, jointly with econometricians from VU University Amsterdam. It is an active
seminar series, with high-quality international speakers. In addition, occasionally an internal informal
workshop is held on Thursdays at lunch time, where research projects which are still in an early stage
are discussed. These meetings stimulate the coherence of the research programme and should lead to
more joint research projects; however, their frequency has recently declined, which is a point for
concern. All activities and achievements of UvA-Econometrics are communicated via its web-site
(www.ase.uva.nl/uva-econometrics).
It is the ambition of UvA-Econometrics to gain further recognition as one of the major strongholds in
theoretical econometrics. The activities and achievements over the last decade (number and quality of
publications, presentations at and invitations for international meetings, responsibilities regarding
journals and conferences, hosting of visiting scholars, exposure at peer institutions, etc.) have been
substantial, but leave room for further qualitative and quantitative improvements. In particular, the
continued high teaching loads in the group have had a negative impact on the research output of some
of its members, and consequently on the research time available to the programme. Most individual
members of UvA-Econometrics continue to operate in intensive formal and informal national and
international networks. As part of a strategy for improvement of research output, UvA-Econometrics
continues to aim at strengthening its ties with other faculty research programmes, in the form of joint
applied research projects in micro-econometrics and financial econometrics.
In 2015 the number of PhD students has decreased due to the graduation of two of them (Arturas
Juodis and Milan Pleus). Arturas Juodis became a tenure track assistant professor at the University of
Groningen which shows that UvA-econometrics generates high quality PhD students. No new PhD
students started in 2015. Since two more students (Andrew Pua and Yang Liu) will graduate in 2016
there is a need for new PhD students. Fortunately, one will start in 2016 but there is room for more.
The above evaluation can be summarized in the following SWOT analysis regarding the activities and
current position of UvA-Econometrics:
Strengths: good reputation; a relatively steady stream of publications; quality of human capital;
expertise in a broad range of cutting edge areas of econometric (and statistical) theory; recently
improved prospects regarding external funding; coherence of and atmosphere within the group; active
seminar and workshop series; exposure via own discussion paper series; tight but appropriate facilities
regarding computing and travel.
Weaknesses: relatively few links with other units of the FEB outside the quantitative economics
research groups; only a small number of its members regularly publish in A-journals.
24
Opportunities: recently developed MPhil programme and Fast Track in Econometrics within the
Tinbergen Institute; developing a more applied profile within ASE and with the ABS.
Threats: decreased research input due to small number of faculty members that publish regularly.
This has led to a high teaching load for some senior faculty members which leaves them little room to
conduct research.
6.4 RESOURCES AND FUNDING
The current ASE-RI facilities allow the active researchers (and also first and second year PhD
students) to attend at least one international conference per year; in practice more is possible, so the
research group does not experience binding constraints in this respect.
In recent years, UvA-Econometrics has been quite successful in obtaining external funding for
research activities. To maintain a good research environment and attract more PhD students, it is
important that UvA-Econometrics remains successful in obtaining external funding.
6.5 OUTPUT
Key publications
Boswijk, H.P., Jansson, M. & Nielsen, M.Ø. (2015). Improved likelihood ratio tests for cointegration
rank in the VAR model. Journal of Econometrics, 184 (1), 97–110.
Broda, S.A., Haas, M., Krause, J., Paolella, M., & Steude, S. (2013). A mix-stable GARCH model.
Journal of Econometrics 172, 292–306.
Guggenberger, P., Kleibergen, F., Mavroeidis, S. & Chen, L. (2012). On the asymptotic sizes of
subset Anderson-Rubin and Lagrange multiplier tests in linear instrumental variables
regression. Econometrica 80, 2649–2666.
Kiviet, J.F. (2013). Identification and inference in a simultaneous equation under alternative
information sets and sampling schemes. Econometrics Journal 16, S24–S59.
Kleibergen, F.R. and Z. Zhan (2015). Unexplained factors and their effects on second pass Rsquared’s. Journal of Econometrics, 189, 101-116.
Zu, Y. and Boswijk, H.P. (2014). Estimating spot volatility with high-frequency financial data.
Journal of Econometrics, 181 (2), 117–135.
Forthcoming
Boswijk, H.P., G. Cavaliere, A. Rahbek & A.M.R. Taylor (2016). Inference on co-integration
parameters in heteroskedastic vector autoregressions. Journal of Econometrics, 192 (1),
64-85.
Broda, S.A. & Nooijen, Steven (in press). Predicting Equity Markets with Digital Online Media
Sentiment: Evidence from Markov-Switching Models. The Journal of Behavioral Finance.
Juodis, A. (2015). Pseudo Panel Data Models with Cohort Interactive Effects. Journal of
Business and Economic Statistics.
Juodis, A. (2015). First Difference Transformation in Panel VAR models: Robustness,
Estimation and Inference. Econometric Reviews.
Van Giersbergen, N.P.A. (2016). The Ability to Correct the Bias in the Stable AD(1,1) Model With a
Feedback Effect, Computational Statistics & Data Analys Computational Statistics & Data
Analysis.
25
Publications in numbers
Output type
Classification
#
Refereed
5
Non-refereed
0
Professional
0
Popular
0
Refereed
1
Non-refereed
0
Professional
0
Popular
0
Conference proceedings
0
PhD theses
3
Working papers
3
Article in journal - refereed
Boswijk, H.P., Jansson, M. & Nielsen, M.Ø. (2015). Improved likelihood ratio tests for cointegration
rank in the VAR model. Journal of Econometrics, 184 (1), 97-110.
Broda, S.A. & Kan, R. (2015). On distributions of ratios. Biometrika.
Bun, M.J.G. (2015). Identifying the impact of deterrence on crime: internal versus external
instruments. Applied Economics Letters, 22 (3), 204-208.
Kleibergen, F.R. & Zhan, Z. (2015). Unexplained factors and their effects on second pass Rsquared’s. Journal of Econometrics, 189 (1), 101-116.
Ruijg, J. & Ophem, H. van (2015). Determinants of football transfers. Applied Economics Letters, 22
(1), 12-19.
Book chapter - refereed
Bun, M.J.G. & Sarafidis, V. (2015). Dynamic panel data models. In B.H. Baltagi (Ed.), The Oxford
handbook of panel data (pp. 76-110). New York: Oxford University Press.
Working- or discussion paper
Broda, S.A., Krause, J. & Paolella, M.S. (2015). Approximating Expected Shortfall for Heavy Tailed
Distributions. University of Amsterdam.
Kiviet, J.F. (2016). Discriminating between (in)valid external instruments and (in)valid exclusion
restrictions. (UvA-Econometrics Discussion Paper, no 2015/04). University of Amsterdam.
Kiviet, J.F. (2015). When is it really justifiable to ignore explanatory variable endogeneity in a
regression model? (UvA-Econometrics Discussion Paper, no 2015/05). University of
Amsterdam.
UvA Dissertation – internally prepared
Juodis, A. (2015, December 03). Essays in panel data modelling. Universiteit van Amsterdam (v, 197
pag.). Prom./coprom.: prof.dr. H.P. Boswijk & dr. M.J.G. Bun.
Pleus, M. (2015, Mei 29). Implementations of tests on the exogeneity of selected variables and their
performance in practice. Universiteit van Amsterdam (vi, 220 pag.) (Amsterdam: Tinbergen
Institute). Prom./coprom.: prof.dr. J.F. Kiviet.
Yang, X. (2015, Juni 16). Essays on high frequency financial econometrics. Universiteit van
Amsterdam (vi, 182 pag.) (Amsterdam: Tinbergen Institute). Prom./coprom.: prof.dr. H.P.
Boswijk & prof.dr. R.J.A. Laeven.
26
Conference organiser
Bun, M.J.G. (2015). Organizer of a two day workshop on panel data, 30-31 January 2015,
Amsterdam, The Netherlands.
Bun, M.J.G. (2015). Organizer of a two day workshop on panel data and international trade, 16-17
October 2015, Amsterdam, The Netherlands.
Van Garderen, K.J. (2015). Organizer of the GHH conference in honour of Grant Hillier, May 21-23,
Amsterdam, The Netherlands.
Van Garderen, K.J. (2015). Co-organizer & coordinator Netherlands Econometric Study Group
(NESG) conference, June 11-12, Maastricht, The Netherlands.
Editorship
Boswijk, H.P. (2015). Associate editor: Journal of Time Series Analysis.
Boswijk, H.P. (2015). Guest editor: Computational Statistics & Data Analysis (special issue on time
series econometrics).
Kiviet, J.F. (2015). Member of the Editorial Board of Foundations and Trends in Econometrics.
Keynote/invited talk
Boswijk, H.P. (2015, March 4). Inference on cointegration parameters in heteroskedastic vector
autoregressions. Econometrics & Statistics Seminar, Tilburg University.
Bun, M.J.G. (2015, June 3). OLS and IV estimation of regression models including
endogenous interaction terms. Invited seminar, University of Alicante.
Juodis, A. (2015, 16 March). Pseudo Panel Data Models with Cohort Interactive Effects. Invited
Seminar. University of Groningen.
Juodis, A. (2015, 23 March). Pseudo Panel Data Models with Cohort Interactive Effects. Invited
Seminar. Utrecht University.
Juodis, A. (2015, 10 April). On Maximum Likelihood estimation of dynamic panel data models. Invited
Seminar. Lund University, Sweden.
Kleibergen, F. (2015, July 9). Efficient size correct subset inference in linear instrumental variables
regression. Invited talk. UK Econometric Study Group, Bristol Universityim Verdonck) at
ERCIM 2013, University College London, London, UK.
Kleibergen, F. (2015, December 10). Efficient size correct subset inference in linear instrumental
variables regression. Econometrics Seminar. London School of Economics. London. UK.
Kleibergen, F. (2015, December 11). Efficient size correct subset inference in linear instrumental
variables regression. Econometrics Seminar. University College London. London. UK.
Pua, A.A.Y. (2015, 25 February). Simultaneous Equations Models for Discrete Outcomes: Coherence
and Completeness Using Panel Data (host: dr. Vasilis Sarafidis), Econometrics Seminar at
Monash University. Melbourne. Australia.
Pua, A.A.Y. (2015, 7 July). Responses to the Incidental Parameter Problem (host: prof. dr. Harry Haupt)
at University of Passau. Passau. Germany.
Van Garderen, K.J. (2015, 27 March). “Multimodality Adjusted p* Formula and Confidence
Regions”, University of Liverpool Annual Econometrics Workshop, UK.
Other lectures
Boswijk, H.P. (2015, January 22). Adaptive testing for a unit root with non-stationary volatility. Sixth
Italian Congress of Econometrics and Empirical Economics, Salerno.
Boswijk, H.P. (2015, August 17). Adaptive wild bootstrap tests for a unit root with non-stationary
volatility. 11th World Congress of the Econometric Society, Montréal.
Boswijk, H.P. (2015, October 15). High frequency financial econometrics. Data Science for Business
Analytics seminar, University of Amsterdam.
Boswijk, H.P. (2015, November 6). Interpretation of cointegrating coefficients in near-integrated
systems. Workshop in honour of Søren Johansen, University of Copenhagen.
27
Boswijk, H.P. (2015, November 18). Wild bootstrap in the presence of persistent stochastic volatility.
Bootstrap workshop, University of Amsterdam.
Boswijk, H.P. (2015, December 13). (Wild) bootstrap methods for heteroskedastic time series with
leverage effects. Computational and Financial Econometrics 2015, University of London.
Broda, S.A. (2015, December 13th). Approximating Expected Shortfall for Heavy Tailed Distributions.
9th International Conference on Computational and Financial Econometrics. London.
Bun, M.J.G. (2015, June 27). OLS and IV estimation of regression models including
endogenous interaction terms. IAAE conference, Thessaloniki.
Cakmakli, C. (2015, June). Forecasting inflation using survey expectations and target inflation:
Evidence for Brazil and Turkey, The Rimini Conference in Economics and Finance RCEF,
‘Workshop on Time Series’, Rimini, Italy.
Cakmakli, C. (2015, June). Synchronization of Cycles in a Data-Rich Environment, The Rimini
Conference in Economics and Finance RCEF, ‘Workshop on Bayesian Econometrics, Rimini,
Italy.
Cakmakli, C. (2015, June). Forecasting inflation using survey expectations and target inflation:
Evidence for Brazil and Turkey, The 2nd Annual Conference of the International Association
for Applied Econometrics, Thessaloniki, Greece.
Cakmakli, C. (2015, June). Synchronization of Cycles in a Data-Rich Environment, The 2nd
Annual Conference of the International Association for Applied Econometrics, Thessaloniki,
Greece.
Cakmakli, C. (2015, September). Discussion, The third biennial Koc University-Kyoto University
Research Forum: Workshop on Management & Finance, Istanbul, Turkey.
Cakmakli, C. (2015, September). Discussion, Koc University-Kyoto University Workshop On
Macro-Economics, Istanbul, Turkey.
Cakmakli, C. (2015, September). Lecture on Bayesian Econometrics, Istanbul Seminars on
Economics and Finance, Istanbul, Turkey.
Juodis, A. (2015, 30 January). A Simple Estimator for Short Panels with Common Factors. Workshop
on Panel Data. University of Amsterdam.
Juodis, A. (2013, 12 June). On Maximum Likelihood estimation of dynamic panel data models. Poster
Session. Netherlands Econometric Study Group Meeting. Maastricht
Juodis, A. (2013, 27 June). A Simple Estimator for Short Panels with Common Factors. IAAE annual
conference. Thessaloniki, Greece.
Juodis, A. (2013, 29 June). On Maximum Likelihood estimation of dynamic panel data models.
International Panel Data Conference. Budapest, Hungary.
Kiviet, J.F. (2015, March 26). Accuracy and efficiency of various GMM inference techniques in
dynamic micro panel data models. NTU-Hiroshima workshop at NTU, Singapore.
Kleibergen, F. (2015, May 22). Discussion of N. Gospodinov, R. Kan and C. Robotti,
Spurious Inference in Reduced-Rank-Asset-Pricing Models, Financial Econometric
Conference, Toulouse School of Economics.
Kleibergen, F. (2015, June 26). Mimicking Portfolios of Macroeconomic Factors, Society for Financial
Ecometrics World Conference, Aarhus University, Denmark.
Kleibergen, F. (2015, August 17). Efficient size correct subset inference in linear instrumental
variables regression. Invited talk. Econometric Society World Conference. University of
Montreal, Canada.
Kleibergen, F. (2015, December 14). Identification and Inference in Moments Based Analysis of
Linear Dynamic Panel Data Models. CFRE-CMS Statistics 2015 Conference. Birkbeck
College, London, UK.
Pua, A.A.Y. (2015, 19-20 February). Simultaneous Equations Models for Discrete Outcomes:
Coherence and Completeness Using Panel Data, 25th New Zealand Econometric Study Group
at Brisbane, Australia.
Pua, A.A.Y. (2015, 12-13 June). The Role of Sparsity in Panel Data Models, Plenary talk during 10th
Netherlands Econometric Study Group at Maastricht, Netherlands.
Pua, A.A.Y. (2015, 25-27 June). Simultaneous Equations Models for Discrete Outcomes: Coherence
and Completeness Using Panel Data, 2nd IAAE Annual Conference at Thessaloniki, Greece.
28
Pua, A.A.Y. (2015, 29-30 June). On IV Estimation of a Dynamic Linear Probability Model with Fixed
Effects, 21st Panel Data Conference at Budapest, Hungary.
Pua, A.A.Y. (2015, 11 December). Simultaneous Equations Models for Discrete Outcomes: Coherence
and Completeness Using Panel Data (host: prof. dr. Frank Kleibergen and dr. Ryo Okui),
Amsterdam Econometrics Seminars and Workshop Series at Tinbergen Institute.
Pua, A.A.Y. (2015, 12-13 December). On IV Estimation of a Dynamic Linear Probability Model with
Fixed Effects, 9th International Conference on Computational and Financial Econometrics at
London, United Kingdom.
Pua, A.A.Y. (2015, 30 June to 2015, 11 July). Research visit and Short course on “Topics in Panel Data
Econometrics”. University of Passau.
Van Garderen, K.J. (2015, 26 November). “Multimodality Adjusted p-star Formula and Confidence
Regions”. Special Granger Centre Seminar, University of Nottingham, UK.
Van Giersbergen, N.P.A. (2015, 18 August). The Ability to Correct the Bias in the Stable AD(1,1)
Model With a Feedback Effect. 11th World Congress of the Econometric Society, Montreal.
Van Giersbergen, N.P.A. (2015, 31 January). Discussant of Windmeijer, Farbmacher, Davey-Smith
and White (2015) sisVIVE, Ssel and L1-GMM, UvA Econometrics Workshop on panel data,
Amsterdam.
Van Giersbergen, N.P.A. (2015, 16 October). Discussant of Klaassen en Teulings (2015) Untangling
Fixed Effects and Constant Regressors, UvA Econometrics panel data workshop on
international trade, Amsterdam.
Membership academies
Boswijk, H.P. (2015). Tinbergen Institute Research Fellow.
Boswijk, H.P. (2015, January 16). Member PhD committee Geert Mesters, VU University
Amsterdam.
Broda, S.A. (2015). Tinbergen Institute Research Fellow.
Bun, M.J.G. (2015). Member of the scientific committee of the 21th International Conference on
Panel Data, Budapest, 2015.
Bun, M.J.G. (2015). Tinbergen Institute Research Fellow.
Bun, M.J.G. PhD committee member Zhuojiong Gan (Tilburg University), Charles
Saunders (Carleton University) and Koen Bel (Erasmus University Rotterdam).
Cakmakli, C. (2015). Fellow at Rimini Centre for Economic Analysis.
Kiviet, J.F. (2015). Elected member of the Royal Netherlands Academy of Arts and Sciences
Kiviet, J.F. (2015). Fellow of Journal of Econometrics.
Kiviet, J.F. (2015). Member CESifo research network.
Kiviet, J.F. (2015). Tinbergen Institute Research Fellow.
Kleibergen, F. (2015). Tinbergen Institute Research Fellow, Fellow of the Journal of
Econometrics, Fellow of the Society for Financial Econometrics.
Kleibergen, F. (2015, May 7). Member PhD Commiteee Philipp Ketz. Brown University.
Providence, USA; Purevdorj Tuvaandorj, McGill University, Montreal, Canada.
Relevant position
Boswijk, H.P. (2015). Referee for Econometric Reviews, Econometric Theory, Economics Letters,
Journal of Econometrics, Oxford Bulletin of Economics and Statistics.
Broda, S.A. (2015). Referee for Biometrika, Journal of Financial Econometrics.
Bun, M.J.G. (2015). Referee for Computational Statistics, Computational Statistics and
Data Analysis, Econometric Reviews, Econometrics and Statistics, Economics Letters,
Empirical Economics, Journal of Applied Econometrics, Journal of Econometrics, Metrika,
Oxford Bulletin of Economics and Statistics, Review of Social Economy.
Cakmakli, C. (2015). Referee for Economics Bulletin, Econometrics-Open Access Journal,
Econometric Reviews, Journal of Applied Econometrics, Journal of Empirical Finance
Juodis, A. (2015). Referee for Economic Modelling.
Juodis, A. (2015). Visiting Scholar Lund University, April-May 2015.
29
Kiviet, J.F. (2015, January 1- March 31 and September 11 – December 31). Visiting Professor at
Nanyang Technological University, Singapore.
Kiviet, J.F. (2015, July 27-31). Visitor at University of Salamanca (Spain) to teach a 10 hours course
in Advanced Dynamic Panel Data Methods.
Kiviet, J.F. (2015). Referee for Computational Statistics and Data Analysis, Econometric Reviews,
Economic Letters, Journal of Applied Econometrics, Journal of Econometrics, Singapore
Economic Review.
Kleibergen, F. (2015). Referee for Econometrica, Journal of Econometrics, Econometric Theory,
Oxford Bulletin of Economics and Statistics.
Van Giersbergen, N.P.A. (2015). Referee for Econometric Theory.
30
7. EQUILIBRIUM, EXPECTATIONS & DYNAMICS
Programme director:
Metis-code:
JEL-Classification:
Starting date:
Website:
Prof. dr. C.H. Hommes & dr. ir. F.O.O. Wagener
uva/feb/ase/eed
C, D, E6
1998
http://cendef.uva.nl
Name
Amman, H.M.
Anufriev, M.
Altaghlibi, M.
Amman, H.M.
Anufriev, M.
Assenza, T.
Bao, T.
Diks, C. (CeNDEF)
Fang, H.
Heemeijer, P. (CeNDEF)
Hennequin, M.
Hommes, C.H. (CeNDEF)
Hommes, C.H. (CeNDEF)
Huang, Z.
Huang, Z.
Kiseleva, T.
Kopányi, D.
Kopányi-Peuker, A.
Koster, M.A.L.
Koster, M.A.L.
Leij, M. van der
Leij, M. van der
Leij, M. van der
Leur, M. van de
Li, H.
Lustenhouwer, J.
Makarewicz, T.
Makarewicz, T.
Massaro, D.
Negriu, A.
Ochea, M.I.
Papana, A.
Ramer, R.
Salle, I.
Salle, I.
Sniekers, F.
Sniekers, F.
Tuinstra, J. (CeNDEF)
Title
prof dr
dr
msc
prof. dr.
dr.
dr.
dr.
prof. dr.
msc
dr.
msc
prof. dr.
prof. dr.
dr.
dr.
dr.
msc
dr.
dr.
dr.
dr.
dr.
dr.
msc
msc
msc
msc
dr.
dr.
msc
dr.
dr.
dr.
dr.
dr.
msc
msc
prof. dr.
Function
hgl
postdoc
guest
hgl
guest
postdoc
postdoc
hgl
phd
guest
phd
hgl
hgl
postdoc
guest
guest
phd
postdoc
ud
uhd
postdoc
ud
ud
guest
guest
phd
phd
postdoc
oz
phd
ud
guest
guest
postdoc
postdoc
phd
guest
hgl
31
Total
2013
Total
2014
Total
2015
0,00
0,16
0,47
0,50
0,00
1,00
0,07
0,00
0,80
0,25
0,80
0,00
0,80
0,80
0,80
0,50
0,00
0,27
0,40
0,50
0,00
0,00
0,00
0,16
0,50
0,27
0,00
0,50
0,32
0,80
0,00
0,53
0,25
0,33
0,20
0,17
0,00
0,27
0,67
0,13
0,80
0,80
0,33
0,00
0,00
0,80
0,00
0,50
0,00
0,00
0,16
0,50
0,80
0,27
0,50
0,35
0,00
0,27
0,13
0,50
0,00
0,00
0,80
0,80
0,60
0,00
0,80
0,00
0,50
Funding
1
2
1
1
1
1
3
1
1
1
1
1
2
2
1
1
1
1
1
1
2
2
1
1
1
1
2
2
2
1
1
1
1
3
2
1
1
1
Name
Veld, D. in 't
Veld, D. in 't
Wagener, F. (CeNDEF)
Wang, J.
Wang, H.-S.
Wolski, M.
Zeppini-Rossi, P.
Zhu, M.
PhD students
Title
msc
dr.
dr.
msc
msc
msc
dr.
dr.
Function
phd
guest
uhd
guest
guest
guest
guest
guest
Total
2013
0,80
0,50
0,00
0,00
0,00
0,00
0,00
4,41
4,27
0,74
2,41
9,42
3,60
Total
2014
0,53
0,00
0,50
0,00
0,00
0,00
0,00
0,00
4,78
3,78
0,80
2,91
9,36
2,47
Total
2015
0,00
0,50
0,00
0,00
0,00
0,00
5,53
1,95
0,00
3,06
7,48
2,47
Funding
2
1
1
1
1
1
1
1
The objective of the programme is the development of (mathematical) economic theory, focussing on
the understanding of economic processes. The programme aims at developing models of economic
behaviour in different areas of economics, including microeconomics, macroeconomics and finance.
Emphasis is given to behavioural models of dynamic market phenomena.
The research group employs a multi-disciplinary approach. The models are studied both from a
theoretical and a computational perspective, and the validity of the models is tested in laboratory
experiments with human subjects as well as empirically using real data. The NWOVernieuwingsimpuls Information Flows in Financial Markets, the EU STREP project Financial
Markets and Complexity and the NWO-VIDI programme Structural Stability in Economic Dynamics
are part of the research programme.
The programme can be subdivided into five closely related and interacting research themes:
Equilibrium theory
Individual optimising behaviour of economic agents generates aggregate supply and demand of
commodities, as a function of prices and individual expectations. In equilibrium supply and demand are
equal. Many types of equilibrium can be studied: partial versus general, competitive versus
monopolistic, dynamic versus static, temporary equilibrium, single, representative agent as well as
heterogeneous, interacting agents equilibria. The existence of equilibria is studied, as well as conditions
for stability or instability of dynamic adjustment processes.
Game theory & Industrial organisation
This part of the programme focuses on modelling strategic behaviour of economic agents in markets
with imperfect competition, such as duopoly and oligopoly. Equilibria in non-cooperative games (e.g.
duopoly, oligopoly) as well as cooperative games (costs sharing, general equilibrium) are studied.
Evolutionary games with heterogeneous, boundedly rational strategies competing against each other are
also studied.
Expectations and learning
Bounded rationality models of expectation formation and learning schemes are becoming a serious
alternative to rational expectations, which was the dominating paradigm until quite recently. The fully
rational representative agent is replaced by a large heterogeneous population of boundedly rational
interacting agents, who form expectations based upon time series observations and update their
32
forecasting rules according to new observations and new information about market fundamentals.
Conditions under which learning schemes converge to rational expectations or to a boundedly rational
expectations equilibrium with excess volatility are investigated. Formation of expectations is studied in
theory, in laboratory experiments with human subjects and in real markets.
Nonlinear economic dynamics
This part of the programme focuses on nonlinear complexity models of dynamic market phenomena.
Are market fluctuations mainly caused by random exogenous shocks, or can endogenous nonlinear
economic laws of motion explain (a significant part of) the fluctuations? Various deterministic and
stochastic economic models are studied theoretically, computationally as well as empirically, attempting
to explain the most important stylised facts observed in real economic and financial time series.
Emphasis is given to complex adaptive systems where markets consist of a large population of agents
selecting simple strategies according to their relative success in the recent past. In these evolutionary
adaptive systems endogenous variables such as prices and agents’ beliefs co-evolve over time.
Dynamic optimisation
Emphasis is given to dynamic optimisation problems in environmental economics, characterised by a
conflict between economic benefits and ecological costs. Tools from nonlinear dynamics and
bifurcation theory are employed to investigate non-convex dynamic optimisation problems. The main
thrust is a structural analysis, that is, investigation of the global solution structure of dynamic
optimisation problems and dynamic games. The qualitative changes of these solutions are studied
under changes of the parameters. Geometrical methods, like bifurcation theory, normal form theory
and perturbation theory, as well as numerical methods yield insights that hold not just at isolated
parameter values, but for the complete parameter set.
This programme grew out of a mathematical economics programme Equilibrium and Dynamics, led
by Weddepohl, which was quite small until the mid nineties. The group was extended considerably at
the end of 1998, thanks to an NWO-MaG Pionier grant awarded to Hommes, to set up the Center for
Nonlinear Dynamics in Economics and Finance (CeNDEF). At that time the programme changed
from a small specialized mathematical economics programme into a multi-disciplinary research
programme with an emphasis on economic theory, but also running laboratory experiments (in
cooperation with Joep Sonnemans at CREED) to test behavioural theories and doing empirical work
as well (in cooperation with Peter Boswijk at UvA-Econometrics), in particular nonlinear time series
analysis, to test behavioural models empirically. Weddepohl retired in 2002 while Furth and Koster
joined the group in the same year; from that point onwards, game theory has been included as one of
the research themes of the programme. At the end of 2003, the CeNDEF postdocs Diks, Tuinstra and
Wagener obtained tenured positions, ensuring the continuation of the research program. In 2009 the
research programme was ranked as one of the three top programmes at the FEB by the VSNU
“Visitatiecommissie” (Quality 4.5, Productivity 4.5, Relevance 5, Viability 5). From the report of the
committee: “The group (...) is developing very fruitful projects on highly topical current issues.”
The publication record of the year 2015 is very good. The output was 9 articles in international
refereed journals, amongst which publications in Games and Economics Behavior, Journal of
Economic Dynamics and Control and Mathematics of Operations Research. There were two PhD
students, Dávid Kopányi and Juanxi Wang, that had a (co-)supervisor from the group, who defended
their thesis successfully.
The programme is internationally established, as is shown by excellent citation statistics (e.g.
according to the Science Citation Index (SCI) in 2015 almost 500 citations of published work by
group members), many invited and several keynote lectures at international seminars, conferences and
workshops by various members of the research group. In the IDEAS/RePEc ranking of Top 20%
institutes (http://ideas.repec.org/top/top.netherlands.html), CeNDEF ranks as number 14, one position
33
down from last year. This ranking contains faculties of economics and departments; among the small
institutes of the order of a research group (up to 16 researchers) CeNDEF ranks 4th on the list.
In 2015, Anita Kopányi-Peuker joined the group as postdoc in the EU Horizon 2020 project IBSEN,
and Gavin Goy, Myrna Hennequin and Gregor Boehl as PhD students.
The evaluation can be summarized in the following SWOT analysis of the CeNDEF activities.
Strengths: international reputation as an excellent research group on nonlinear dynamics and
complexity applications in economics and finance, high scientific impact (e.g., with both having been
cited about 500 times (Web of Science), Brock and Hommes (Econometrica 1997), and Brock and
Hommes (JEDC 1998), are two of the best cited journal articles co-authored by a Dutch economist),
regular international visitors, active seminars and international workshops, own working paper series,
frequently visited website, good facilities for computing and travel.
Weaknesses: relatively few publications in top mainstream journals, where multi-disciplinary work
and non-mainstream approach such as agent-based modelling and complexity modelling are far from
being well accepted; the number of links with practitioners and policy makers has been relatively low,
but is now increasing.
Opportunities: development of UvA Graduate School in Economics; application of group-specific
know-how to core economic problems, to demonstrate in this way the value of the programme's
characteristic approach; developing more policy oriented research, e.g. through a new project on
heterogeneous expectations in macro economics and monetary policy; for example, the NWOcomplexity project is a research project jointly with researchers and policy makers at DNB.
Threats: A multidisciplinary group is likely to be handicapped when evaluated in a mono-disciplinary
environment; and the complexity of the tools used may turn out to be an impediment at disseminating
the research approach.
The budget received from ASE-RI every year only covers on average one conference per researcher
per year and some of the costs for the Economics Colloquia; another budget of the Tinbergen Institute
covers the costs of joint research seminars Cooperative Behaviour, Strategic Interaction and
Complex Systems - CSC together with the VU mathematical economics group.
The group has been very successful in obtaining additional external funding. Joep Lustenhouwer is a
PhD student since September 2014 funded by a NWO Talent project Monetary and Fiscal Policy
under Bounded Rationality and Heterogeneous Expectations CeNDEF is part of several European
consortia that obtained grants: the Macro-Risk Assessment and StabilizationPolicies with New Early
Warning Signals (RASTANEWS), the EU COST action IS1104 “The EU in the new complex
geography of economic systems: models, tools and policy evaluation”, and two INET projects,
“Coordination of Expectations”, led by Roger Guesnerie and “Heterogeneous Expectations and
Financial Crises”, led by Cars Hommes. The EU FP7-SHS Collaborative project (with 12 European
partners) "Integrated Macro-Financial Modelling for Robust Policy Design (MACFINROBODS) "
started in May 2014 is coordinated by Cars Hommes for UvA. A new EU Horizon 2020 project
Bridging the gap: from Individual Behaviour to the Socio-tEchnical MaN (IBSEN) has started in
September 2015. Anita Kopányi-Peuker has been appointed as postdoc in this project. In May 2014
Cars Hommes was awarded the Distinguished Lorentz Fellowship 2014/2015 of the Netherlands
Institute of Advanced Studies (NIAS).
34
7.5 OUTPUT
Key publications
Anufriev, M. & Hommes, C.H. (2012). Evolutionary selection of individual expectations and
aggregate outcomes. American Economic Journal–Micro, 4 (4), 35-64.
Diks, C., Panchenko, V. & Dijk, D. van (2011). Likelihood-based scoring rules for comparing density
forecasts in tails. Journal of Econometrics, 163, 215-230.
Hommes, C.H. and Zhu, M. (2014). Behavioural learning equilibria. Journal of Economic Theory,
150, 778-814.
Leij, M.J. van der (2011). Experimenting with buddies. Science, 334, 1220-1221.
J. Linde, J. Sonnemans & J. Tuinstra (2014). Strategies and evolution in the minority game: a multiround strategy experiment. Games and Economic Behavior, 86, 77-95.
Wagener, F. (2014). Expectations in experiments. Annual Review of Economics, 6, 421-443.
Forthcoming
Agliari, A., Hommes, C.H. and Pecora, N. (2016). Path dependent coordination of expectations in
asset pricing experiments: a behavioural explanation. Journal of Economic Behavior &
Organization, in press.
Assenza, T., Brock, W.A., and Hommes, C.H. (2016). Animal Spirits, Heterogeneous Expectations
and the Emergence of Booms and Busts. Economic Inquiry, in press.
Bao, T., Hommes, C.H. and Makarewicz, T. (2016). Bubble formation and (in)efficient markets in
learning-to-forecast and -optimize experiments. The Economic Journal, in press.
S.Battiston, J.D.Farmer, A.Flache, D.Garlaschelli, A.Haldane, H..Heesterbeek, C.Hommes, C.Jaeger,
R.May, M.Scheffer. Complexity theory and financial regulation. Economic policy needs
interdisciplinary network analysis and behavioral modeling. Science (19 februari 2016), 351
(6275), 818-819.
Diks, C. and Wolski, M. (2015). Nonlinear Granger causality: Guidelines for multivariate analysis.
Journal of Applied Econometrics, in press.
Kopányi-Peuker, A., T. Offerman & R. Sloof (2016). Fostering cooperation through the enhancement
of own vulnerability. Games and Economic Behavior, in press.
Papana, A., Kugiumtzis, D., Kyrtsou, K., and Diks, C. (2015). Detecting causality in non-stationary
time series using Partial Symbolic Transfer Entropy. Computational Economics, in press.
Salle I. and Seppecher P. (2016). Social learning about consumption. Macroeconomic Dynamics, in
press.
Output type
Classification
Refereed
#
10
Non-refereed
0
Professional
3
Popular
0
Refereed
0
Non-refereed
0
Professional
0
Popular
0
0
PhD theses
2
Working papers
13
35
Assenza, T., Delli Gatti, D. & Grazzini, J. (2015). Emergent dynamics of a macroeconomic agent
based model with capital and credit. Journal of Economic Dynamics & Control, 50, 5-28.
Assenza, T., Grazzini, J., Hommes, C. & Massaro, D. (2015). PQ strategies in monopolistic
competition: some insights from the lab. Journal of Economic Dynamics & Control, 50, 6277.
Grass, D., Kiseleva, T. & Wagener, F. (2015). Small-noise asymptotics of Hamilton-Jacobi-Bellman
equations and bifurcations of stochastic optimal control problems. Communications in
Nonlinear Science & Numerical Simulation, 22 (1-3), 38-54.
Hommes, C. & Iori, G. (2015). Introduction special issue crises and complexity. Journal of Economic
Dynamics & Control, 50, 1-4.
Kendrick, D.A. & Amman, H.M. (2014). Quarterly fiscal policy. Economist's Voice, 11 (1), 7-12.
Kiseleva, T. & Wagener, F. (2015). Bifurcations of optimal vector fields. Mathematics of operations
research, 40 (1), 24-55.
Molina-Borboa, J.L., Martínez-Jaramillo, S., López-Gallo, F. & Leij, M. van der (2015). A multiplex
network analysis of the Mexican banking system: link persistence, overlap, and waiting times.
The Journal of Network Theory in Finance, 1 (1), 99-138.
Poledna, S., Molina-Borboa, J.L., Martínez-Jaramillo, S., Leij, M. van der & Thurner, S. (2015). The
multi-layer network nature of systemic risk and its implications for the costs of financial
crises. Journal of Financial Stability, 20, 70-81.
Salle, I.L. (2015). Modeling expectations in agent-based models: an application to central bank's
communication and monetary policy. Economic Modelling, 46, 130-141.
Seppecher, P. & Salle, I. (2015). Deleveraging crises and deep recessions: a behavioural approach.
Applied Economics, 47 (34-35), 3771-3790.
Article in journal - professional
Leij, M. van der (2015). Het woord aan... Marco van der Leij. Economisch-Statistische Berichten, 100
(4711), 352.
Moen, E., Nenov, P. & Sniekers, F. (2015). Eerst kopen of eerst verkopen op de woningmarkt.
Economisch-Statistische Berichten, 100 (4706), 166-169.
Veld, D.L. in 't (2015). Weinig vertrouwen beleggers in aandelenwaardering. Statistiek: Economie en
samenleving. Economisch-Statistische Berichten, 100 (4716), 493-493.
Agliari, A., Hommes, C.H. & Pecora, N. (2015). Path dependent coordination of expectations in asset
pricing experiments: a behavioral explanation. (CeNDEF working paper, no 15-05).
University of Amsterdam.
Amman, H.M. (2015). Approximating the Value Function for Optimal Experimentation. QE.
Anufriev, M., Hommes, C.H. & Makarewicz, T. (2015). Simple forecasting heuristics that make us
smart: evidence from different market experiments. (CeNDEF working paper, no 15-07).
Bao, T. & Hommes, C.H. (2015). When speculators meet constructors: positive versus negative
feedback in experimental housing markets. (CeNDEF working paper, no 15-10). University of
Amsterdam.
Diks, C.G.H., Hommes, C.H. & Wang, J. (2015). Critical slowing down as an early warning signal for
financial crises. (CeNDEF working paper, no 15-04). University of Amsterdam.
Hommes, C. & Veld, D. in 't (2015). Booms, busts and behavioural heterogeneity in stock prices.
(Tinbergen Institute discussion paper, no TI 2015-088/II). Amsterdam: Tinbergen Institute.
Hommes, C. & Veld, D. in 't (2015). Booms, busts and behavioural heterogeneity in stock prices.
Hommes, C., Lustenhouwer, J.E. & Mavromatis, K. (2015). Fiscal Consolidations and Heterogeneous
Expectations. Mimeo.
36
Hommes, C., Makarewicz, T., Massaro, D. & Smits, T. (2015). Genetic Algorithm Learning in a New
Keynesian Macroeconomic Setup. (CeNDEF Working paper, no 15-01). University of
Amsterdam.
Hommes, C.H. & Lustenhouwer, J.E. (2015). Inflation Targeting and Liquidity Traps under
Endogenous Credibility. (CeNDEF working paper, no 15-03). University of Amsterdam.
Hommes, C.H., Massaro, D. & Salle, I.L. (2015). Monetary and fiscal policy design at the zero lower
nound - Evidence from the Lab. (CeNDEF working paper, no 15-11). University of
Amsterdam.
Makarewicz, T.A. (2015). Networks of Heterogeneous Expectations in an Asset Pricing Market.
(CeNDEF working paper, no 15-08). University of Amsterdam.
Moen, E.R., Nenov, P.T. & Sniekers, F. (2015). Buying first or selling first in housing markets.
(CEPR Discussion Paper Series, no 10342). London: Centre for Economic Policy Research.
Kopányi, D. (2015, Februari 13). Bounded rationality and learning in market competition. Universiteit
van Amsterdam (vii, 203 pag.) (Amsterdam: Tinbergen Institute). Prom./coprom.: prof.dr. J.
Tuinstra & prof.dr. C.H. Hommes.
UvA Dissertation – externally prepared
Wang, J. (2015, Oktober 23). Modelling and estimation of dynamic instability in complex economic
systems. Universiteit van Amsterdam (v, 148 pag.). Prom./coprom.: prof.dr. C.G.H. Diks, H.
Dawid & prof.dr. C.H. Hommes.
Hommes, C.H. (2015, March 23-27). NIAS-Lorentz workshop on Socio-Economic Complexity,
Lorentz Center Leiden.
Diks, C.G.H. (2015, May 18-20). 10th Tinbergen Institute Conference on Complexity in Economics
and Finance, Tinbergen Institute, Amsterdam.
Hommes, C.H. (2015, May 18-20). 10th Tinbergen Institute Conference on Complexity in Economics
and Finance, Tinbergen Institute, Amsterdam.
Leij, M.J. van der (2015, May 18-20). 10th Tinbergen Institute Conference on Complexity in
Economics and Finance, Tinbergen Institute, Amsterdam.
Recognition
Diks, C.G.H. (2015). 10th Tinbergen Institute Conference.
Diks, C.G.H., Hommes, C.H. & Leij, M.J. van der (2015). 10th Tinbergen Institute Conference 2015:
Complexity in Economics and Finance.
Evans, G. & Salle, I. (2015). INEXC Fellowship (financed by INET, 13,500 euros) Research project
“Fiscal Policy in Expectation-driven Recessions when Long Horizons Matter: a lab
experiment”.
Hommes, C.H., Sonnemans, J., Tuinstra, J. and Diks, C.G.H. (2015). Additionele Financiering
Zwaartepunt Behavioral Economics (300K p.y.)
Hommes, C.H. (2014-2017). EU FP7 grant (nr 612796, budget 2.5M) Collaborative project Integrated
Macro-Financial Modelling for Robust Policy Design (MACFINROBODS), Coordinator
consortium of 12 European Universities & Research Institutes.
Hommes, C.H. and Lustenhouwer, J. (2014-2017). NWO Talent grant (nr 406-14-011, budget 198K).
Hommes, C.H. (2014/2015). Distinguished Lorentz Fellowship, Netherlands Institute for Advanced
Studies (NIAS).
Hommes, C.H. (2014-2016). President Elect, Society of Computational Economics.
Moen, E., Nenov, P. & Sniekers, F. (2015). ESB Award. Best paper award for articles that appeared
in Economisch Statistische Berichten in 2015.
37
Tuinstra, J. (2011). Team leader for the Netherlands of the Open Research Area grant (nr 464-15-143,
budget 298,196 Euro for the Dutch Team) for project titled “Behavioral and Experimental
Analyses in Macro-Finance”
Book review
Hommes, C.H. (2015). Review of "Rethinking housing bubbles. The role of household and bank
balance sheets in modelling economic cycles" by Steven D. Gjerstad and Vernon L. Smith.
Journal of Economic Psychology 50, 138-142.
Altaghlibi, M. (2015, May 15). Unconditional Aid and Green Growth. 13th Viennese Workshop on
Optimal Control and Dynamic Games, Vienna University of Technology, Vienna, Austria.
Altaghlibi, M. (2015, December 8). Unconditional Aid and Green Growth. 10th BiGSEM Doctoral
Workshop on Economic Theory 2015, University of Bielefeld, Bielefeld, Germany.
Assenza, T. (2015, March 17). Individual Expectations and Aggregate Macro Behavior, Research
seminar series at the University of Florence, Florence
Assenza, T. (2015, March 31). Individual Expectations and Aggregate Macro Behavior, Research
seminar series at the Sant' Anna School of Economics, Pisa
Diks, C. (2015, March 26). Critical Slowing Down as Early Warning Signals for Financial Crises?
Workshop on Socio-Economic Complexity, Lorentz Center, Leiden, The Netherlands
Diks, C. (2015, May 18). Critical Slowing Down as Early Warning Signals for Financial Crises?
Tinbergen Institute Conference, Tinbergen Institute, Amsterdam, The Netherlands
Diks, C. (2015, September 9). Nonlinear Granger Causality: Guidelines for Multivariate Analysis.
Talk in the Time Series, Causality, Networks and Applications session (host: prof. Dimitris
Kugiumtzis) at XXXV Dynamics Days Europe 2015, University of Exeter, Exeter, UK.
Hommes, C.H. (2015, January 9). Laboratory Experiments with Human Subjects, EU FP7 CRISIS
Final Review, City University, London, UK.
Hommes, C.H. (2015, January 26). Bubble Formation and (In)Efficient Markets in Learning-toForecast and -Optimize Experiments, Finance Seminar, Radboud Universiteit Nijmegen.
Hommes, C.H. (2015, February 2). Bounded Rationality and Agent-based Macro-models Theory,
Experiments, Empirical Validation and Policy, Seminar CPB, Den Haag
Hommes, C.H. (2015,February 5). Booms and Busts in House Prices under Heterogeneous
Expectations : Estimation and Experimental Evidence, Probability & Statistics Seminar TU
Delft.
Hommes, C.H. (2015, February 24). Bubble Formation and (In)Efficient Markets in Learning-toForecast and -Optimize Experiments, Seminar Department of Economics, University of
Namur, Namur, Belgium.
Hommes, C.H. (2015, April 17). Managing self-organization of expectations through monetary
policy: a macro experiment, Seminar Economics & Econometrics, RUG, Groningen.
Hommes, C.H. (2015, April 21). Will computing change human decision making? ABC Symposium
Decision Making, UvA.
Hommes, C.H. (2015, June 9). Complexity in Economics and Finance: Theory, Experiments,
Empirical Validation & Policy, TNO Complexity Meeting, Utrecht.
Hommes, C.H. (2015, June 25). Nonlinear dynamics in the laboratory, 9th International Conference on
Nonlinear Economic Dynamics, Chuo University, June 25-27, Tokyo, Japan.
Hommes, C.H. (2015, August 13). Behavioral learning equilibria and monetary policy for the New
Keynesian model, Workshop Expectations in Dynamic Macroeconomic Models, University
of Oregon, USA.
Hommes, C.H. (2015, October 7). Managing self-organization of expectations through monetary
policy: a macro experiment, CeDEx Seminar, Nottingham,UK.
Hommes, C.H. (2015, November 20). Behavioral learning equilibria and monetary policy for the New
Keynesian model, Workshop on Agent-Based and DSGE Macroeconomic Modeling:
Bridging the Gap, University of Surrey, UK.
38
Hommes, C.H. (2015, December 2). Managing self-organization of expectations through monetary
policy: a macro experiment, Macroeconomics Seminar Universitat Autonoma Barcelona
(UAB) & Inst. for Economic Analysis (IEA-CSIC), Barcelona.
Tuinstra, J. (2015, November 27). Learning and imitation in the minority game: A strategy
experiment. Seminar University of Technology Sydney, Australia
Leij, M.J. van der (2015, January 19). Do Correlated Markets Have More Volatility Spillovers?
Invited seminar (host: Dr. Sophie Béreau), CORE, Université Catholique de Louvain,
Louvain-la-Neuve, Belgium.
Leij, M.J. van der (2015, April 2). The Formation of a Core-Periphery Structure in Heterogeneous
Financial Networks. Invited seminar (host: Prof. Yann Bramoullé), GREQAM, Université
Aix-Marseille, Marseille, France.
Leij, M.J. van der (2015, April 8). The Formation of a Core-Periphery Structure in Heterogeneous
Financial Networks. Invited seminar (host: Dr. Paolo Pin), University of Siena, Siena, Italy.
Leij, M.J. van der (2015, May 8). The Formation of a Core-Periphery Structure in Heterogeneous
Financial Networks. Invited seminar (host: Prof. Federico Valenciano and Dr. Jaromir
Kovarik), BRIDGE, University of the Basque Country, Bilbao, Spain.
Financial Networks. Invited seminar (host: Dr. Michiel Bijlsma), Centraal Planbureau, The
Hague, The Netherlands.
Salle, I. (2015, October 29). Monetary and Fiscal Policy Design at the ZLB: evidence from the lab, at
Macro-MIE TI Seminar, Erasmus University, Rotterdam, NL.
Salle, I. (2015, April 24). Deleveraging crises and deep recessions: a behavioral approach, (host: prof.
Giovanni Dosi) at Sant’Anna School of Advanced Studies, Pisa, Italy.
Salle, I. (2015, March 25). Monetary and Fiscal Policy Design at the ZLB: evidence from the lab, at
the ‘Socio-Economic Complexity’ workshop, Lorentz Center, Leiden, NL.
Wagener, F.O.O. (2015, December 8). Classifying Markov perfect Nash equilibria in a patent
portfolio race with knowledge accumulation. Invited seminar (host: Dr. Grega Smrkolj),
Newcastle Business School, Newcastle-on-Tyne, UK.
Other lectures
Diks, C. (2015, October 5). Nonlinear Granger Causality: Guidelines for Multivariate Analysis.
KAFEE Lunch Seminar, ASE, University of Amsterdam, The Netherlands
Hommes, C.H. (2015, January 3-5). Managing self-organization of expectations through monetary
policy: a macro experiment, ASSA meetings 2014, ESA Session Macroexperiments,
Boston, USA.
Hommes, C.H. (2015, January 3-5). Discussant ``Perpetual Learning and Stability \in Macroeconomic
Models”, by William Branch, ASSA/SCE session on Emergent Dynamics in Multi-Agent
Models of Growth and Social Interactions, Boston.
Hommes, C.H. (2015, January 15-16). Bounded rationality and heterogeneous expectations in
macroeconomics, EU FP7 MACFINROBODS Workshop, City Univ., London, UK.
Hommes, C.H. (2015, June 20). Equilibrium selection in a complex OG economy: evidence from the
Lab, 21st Conference on Computation in Economics and Finance (CEF), June 20-22,
Taipeh, Taiwan.
Hommes, C.H. (2015, July 8). Paper Discussant: In search of a nominal anchor, by C. Carvalho, S.
Eusepi, E. Moench and B. Preston, NBER Workshop Behavioral Macroeconomics, Boston.
Hommes, C.H. (2015, August 13). Paper Discussant: Perpetual learning and stability in macroeconomic model, by W.A. Branch, G. Evans and B. McGough, Workshop Expectations in
Dynamic Macroeconomic Models, University of Oregon.
Hommes, C.H. (2015, August 26). Monetary and fiscal policy design at the zero lower bound:
evidence from the lab, 11th Econometric Society World Congress, August 17-21, Montreal,
Canada.
Hommes, C.H. (2015, August 26). Monetary and fiscal policy design at the zero lower bound:
evidence from the lab, 30th Annual Congress European Economic Association, August 2427, Mannheim, Germany.
39
Hommes, C.H. (2015, November 20). Paper Discussant: A New Keynesian behavioural model with
individual rationality and heterogeneous agents, Workshop on Agent-Based and DSGE
Macroeconomic Modeling: Bridging the Gap, University of Surrey, UK.
Hommes, C.H. (2015, December 1). Inflation targeting and liquidity traps under endogenous
credibility, EU FP7 MACFINROBODS Workshop, CSIC, Barcelona, Spain.
Financial Networks. Hosting talk, 10th TI Conference “Complexity in Economics and
Finance”, Tinbergen Institute, Amsterdam, The Netherlands.
Leij, M.J. van der (2015, June 5). Multi-layer Network Nature of Systemic Risk in Financial
Networks and its Implications. SYRTO Conference on Systemic Risk, Amsterdam, The
Netherlands.
Leij, M.J. van der (2015, August 17). On Relations in the Unsecured and Secured Overnight Interbank
Lending Markets. Econometric Society World Congress 2015, Montréal, Canada.
Leij, M.J. van der (2015, August 25). The Formation of a Core-Periphery Structure in Heterogeneous
Financial Networks. Hosting talk, 30th European Economic Association Meeting,
Mannheim, Germany.
Leij, M.J. van der (2015, September 24). On Relations in the Unsecured and Secured Overnight
Interbank Lending Markets. 2015 RiskLab/BoF/ESRB Conference on Systemic Risk
Analytics, Helsinki, Finland.
Leij, M.J. van der (2015, December 17). Multi-layer Network Nature of Systemic Risk in Financial
Networks and its Implications. Internal seminar, De Nederlandsche Bank, Amsterdam, The
Netherlands.
Makarewicz, T. A. (2015, 15 April). Bubble formation and (in)e cient markets in learning-to-forecast
and -optimize experiments. IMEBESS 2015, Toulouse, France.
Makarewicz, T. A. (2015, May 22). Simple forecasting heuristics that make us smart: Evidence from
di erent market experiments. WEHIA 2015, Nice, France .
Makarewicz, T. A. (2105, 25 August). Bubble formation and (in)e cient markets in learning-toforecast and -optimize experiments. The 30th Annual Congress of the European Economic
Association, Mannheim, Germany.
Salle, I. (2015, June-July 29-02). Monetary and Fiscal Policy Design at the ZLB: evidence from the
lab, at the Western Economic Association International Conference, Honolulu, USA.
Salle, I. (2015, June 19-21). Deleveraging crises and deep recessions: a behavioral approach, at the
International CEF, Taipei, Taiwan.
Salle, I. (2015, February 20-23). Deleveraging crises and deep recessions: a behavioral approach, at
the Eastern Economic Association Conference, New York, USA.
Wagener, F.O.O. (2015, July 16). Classifying Markov perfect Nash equilibria in a patent portfolio
race with knowledge accumulation. 10th International ISDG Workshop, Glasgow, UK.
Wang, H. (2015, May). A patent portfolio race with knowledge accumulation. “13th Viennese
Workshop on Optimal Control and Dynamic Games”, Vienna, Austria.
Wang, H. (2015, June). A patent race with the complementary property and spillovers. “21th
Computing in Economics and Finance”, Taipei, Taiwan.
Wang, H. (2015, July). A patent race with knowledge accumulation and product market. EDEEM
summer meeting, University of Venice, Venice, Italy.
Amman, H. (2015). Fellow of the Society for Economic Measurement (SEM).
Assenza, T. (2015). Member of the Scientific board of the PhD program of the Graduate School in
Public Economics (DEFAP), Università Cattolica del Sacro Cuore
Diks, C. (2015). Tinbergen Institute Research Fellow.
Diks, C. (2015, 12 Oct.). Member PhD committee of João da Gama Batista, Collective destabilising
phenomena in socio-economic systems, CentraleSupélec, Université Paris-Saclay, Paris.
Hommes, C.H. (2015). Tinbergen Institute Research Fellow
Hommes, C.H. (2015). Center for Financial Studies Research Fellow, Frankfurt
Hommes, C.H. (2015). NWO Complexity Program Committee.
40
Hommes, C.H. (2015, April 22). Member PhD committee Dr. S.A. Osinga, The knowledge
management arena: agent-based modelling of the pig sector, Wageningen University.
Hommes, C.H. (2015, May 28). Member PhD committee Dr. S. ter Ellen, Measurement, dynamics
and implications of heterogeneous beliefs in financial markets, Erasmus University
Rotterdam.
Hommes, C.H. (2015, September 7). Member PhD committee Dr. F. Brauning, Interbank lending
relationships, financial crises and monetary policy, VU Amsterdam.
Kopányi-Peuker, A. (Oct. 2015). Tinbergen Institute Candidate Fellow.
Leij, M.J. van der (2015). Tinbergen Institute Research Fellow.
Salle, I. (2015), Tinbergen Institute Candidate Fellow.
Wagener, F.O.O. (2015). Tinbergen Institute Research Fellow.
Editorship
Amman, H.M. (Ed.). (2015) Computational Economics.
Amman, H.M. (Ed.). (2015) Computational Management Science.
Amman, H.M. (Ed.). (2015) Netnomics.
Hommes, C.H. (Ed.). (2015) Journal of Economic Dynamics & Control, 50(Special Issue Crisis &
Complexity, January 2015).
Hommes, C.H. (Ed.). (2015) Journal of Economic Dynamics & Control.
Hommes, C.H. (Ed.). (2015) Journal of Economic Interaction and Coordination.
Hommes, C.H. (Ed.). (2015) Macroeconomic Dynamics.
Hommes, C.H. (Ed.). (2015) Review of Behavioral Economics.
Leij, M.J. van der (Ed.). (2015) Complexity Economics.
Leij, M.J. van der (Ed.). (2015) Network Science.
Relevant position
Hommes, C.H. (2015). Referee for: Journal of Finance, European Economic Review, Journal of
Difference Equations and Applications, International Journal of Forecasting, Economic
Modelling, Journal of Evolutionary Economics, Advances in Decision Sciences, Research
Council Canada (SSHRC), National Science Foundation (NSF)
Leij, M.J. van der (2015). Referee for: International Journal of Game Theory, Journal of Economic
Behavior & Organization (2x), Journal of Economic Theory, Journal of Network Theory in
Finance, Network Science (2x), RAstaNEWS.
Salle, I. (2015). Referee for: Macroeconomic Dynamics, Journal of Economic Behavior and
Organisation, Journal of Economic Dynamics and Control, Springer.
Sniekers, F. (2015). Referee for: International Economic Review, Journal of Economic Dynamics and
Control.
Tuinstra, J. (November 2015). Visiting Professor, University of Technology Sydney, Sydney,
Australia
Tuinstra, J. (2015). Referee for: Annals of the International Society of Dynamic Games, Chaos,
Solitons and Fractals, Economic Journal, Economics Letters, International Journal of Game
Theory, Journal of Evolutionary Economics, Macroeconomic Dynamics.
Wagener, F.O.O. (2015). Referee for: Environmental and Resource Economics, European Journal of
Applied Mathematics, Journal of Economic Dynamics and Control, Journal of Environmental
Economics and Management, Journal of Political Economy, Journal of Public Economics.
41
8. ACTUARIAL SCIENCE & MATHEMATICAL FINANCE
Programmeme director:
METIS code:
JEL-classification:
Starting date:
Website:
Prof. dr. ir. M.H. Vellekoop
uva/feb/ase/act
C, G2
1989
www.aseri.uva.nl/act
Name
Antonio, K.
Berkum, F. van
Bilsen, S. van
Bilsen, S. van
Boonen, T.
Boonen, T.
Can, U.
Can, U.
Can, U.
Cui, J.
Doff, R.R.
Engel, K.
Fan, Z.
Gastel, L. van
Goovaerts, M.J.
Hooijsma, J.
Janssen, M.J.J.
Kaas, R.
Kaas, R.
Kloek, T.G.
Kort, J. de
Kuné, J.B.
Laeven, R.
Lalu, A.
Li, M.
Linders, D.
Petrov, M.
Plat, H.J.
Ronner, A.E.
Vellekoop, M.
Vellekoop, M.
Title
dr.
msc
dr.
dr.
dr.
dr.
dr.
dr.
dr.
dr.
dr.
msc
msc
dr.
prof. dr.
msc
drs.
prof. dr.
prof. dr.
msc
msc
prof. dr.
prof. dr.
msc
msc
dr.
msc
drs.
prof. dr.
prof. dr.
prof. dr.
Function
ud
phd
ud
ud
ud
ud
postdoc
postdoc
ud
ud
guest
guest
phd
ud
guest
phd
guest
hgl
guest
guest
phd
guest
hgl
phd
phd
postdoc
guest
guest
bijz. hgl
hgl
hgl
Total
2013
0,60
0,32
0,17
0,33
0,29
0,23
0,80
0,08
0,00
0,13
0,00
0,42
0,40
0,00
0,80
0,27
0,00
0,10
0,35
0,30
42
Total
2014
0,38
0,32
0,00
0,50
0,00
0,00
0,80
0,11
0,00
0,40
0,00
0,42
0,40
0,00
0,80
0,80
0,00
0,00
0,10
0,35
0,30
Total
2015
0,10
0,32
0,08
0,10
0,25
0,25
0,50
0,00
0,00
0,80
0,11
0,00
0,40
0,00
0,00
0,00
0,40
0,00
0,70
0,40
0,27
0,12
0,00
0,10
0,35
0,30
Funding
1
3
1
3
1
3
3
1
1
3
1
1
3
3
1
3
1
1
1
1
3
1
3
1
1
3
1
1
1
1
3
Name
Yang, X.
Yue, Y.
PhD students
Title
dr.
msc
Function
postdoc
phd
Total
2013
1,43
1,40
2,76
1,16
5,59
1,92
Total
2014
0,27
0,27
2,17
1,18
2,87
1,37
6,22
3,39
Total
2015
0,53
0,80
2,05
0,00
4,83
1,38
6,88
3,39
Funding
3
3
The programme concerns both fundamental and applied research in the field of financial institutions.
It is mainly directed at insurance companies (for life, non-life, pension and social insurance), but also
at banks and other financial intermediaries. Research is performed on the mathematical modeling,
estimation, appraisal and control of financial risks of such financial institutions under complete and
incomplete information and for complete and incomplete markets. For long term insurance contracts,
especially pensions, saving by insurance is significant, which leads to the study of optimal investment
and consumption problems. An increasingly important aspect is the influence of the "risk of
longevity" on the policies of life insurance, social insurance and care insurance. Newly reported
statistics show that life expectancy continues to rise faster than predicted both in the Netherlands and
abroad, and the modeling of this effect and its consequences for life insurance policies and pension
contracts therefore remains an important area of investigation. Present-day challenges for non-life
insurance contracts include decreasing profit margins, increasing competition and selective behaviour
of the insured and of insurance companies. In social insurance, there are specific problems that
emerge from the privatisation of social insurance contracts. Apart from studying problems in the
separate fields of life, non-life, pension and social insurance, work is also done on the theoretical
research subject which concerns the unification of several distinct actuarial theories in these fields,
and their connection with stochastic financial mathematics.
Supervision and regulation of insurance companies and pension funds form an important part of the
field of actuarial research. Methods for risk measurement and the determination of solvency
requirements have come under intensified scrutiny in the wake of the recent financial crisis. The new
European regulatory framework Solvency II for insurers and the Dutch FTK regulation for pension
funds lead to many important new research questions. The Actuarial Science group therefore works
on the further development of actuarial risk theory, in particular the development of new
mathematical and economic models in the fields of market-consistent valuation, market-consistent
pricing and market-consistent embedded value for insurance portfolios.
Other significant fields of research are the interaction between credibility theory, models for the
estimation of unreported claims (IBNR) and actuarial ordering of risks, and their consequences for the
determination of insurance premiums (risk classification). Credibility models can be viewed as
Generalized Linear Mixed Models, having both random (subject-specific) and fixed effects in the
linear predictor. Generalized Linear Models and Generalized Linear Mixed Models can be used for a
variety of actuarial statistical problems like survival modelling, graduation, multiple-state models,
loss distributions, risk classification, premium rating and claims reserving in non-life-insurance. Other
aspects are the homogeneity and heterogeneity of insurance portfolios, the probabilistic and
subsidising solidarity imposed on the insured, the voluntary or compulsory character of the insurance,
and the auto-selection and anti-selection of those insured.
43
The growth of the research group Actuarial Science has continued in 2014 with the arrival of a new
postdoc, Xiye Yang, and a new PhD student, Yuan Yue. Xiye works on the asymptotic properties of
estimators which use high frequency asset price data to estimate continuous and discrete leverage
effects in asset returns, and on statistical tests which detect self-excitation in jumps. In this context
self-excitation means that a jump in asset prices may increase the probability of a new jump directly
afterwards, a phenomenon that could help explain the clustering of jumps which is observed in certain
financial time series. Yuan will work on fraud detection in insurance claims in cooperation with the
PhD project’s sponsor, Van Ameyde International bv. Before taking up this project in insurance she
has successfully worked on models for pension funds as well, as witnessed by the prize that was
awarded to her by Netspar, the Network for Studies on Pensions, Ageing and Retirement. She
received this prize for the MSc thesis Measuring the Cost of Regulatory Funding Ratio Constraints
for Defined Benefit Pension Plans which she wrote as the result of an internship at APG.
Another prize was awarded to Roger Laeven and his co-authors from the University of Tilburg,
Servaas van Bilsen and Theo Nijman. They received the prestigious Australian Securities Exchange
(ASX) Best Quantitative Paper Prize for their paper 'Consumption and Portfolio Choice under Loss
Aversion and Endogenous Updating of the Reference Level' at the Australasian Banking and Finance
Conference which was held in December in Sydney.
Two members of the group, Katrien Antonio and Michel Vellekoop, participated in a large applied
research project which led to new stochastic mortality models for the Netherlands and Belgium which
are now the default choice for actuarial calculations in life insurance contracts for both countries.
Research was done in cooperation with the Dutch Actuarial Society (het Koninklijk Actuarieel
Genootschap), the Belgian Actuarial Society (IA|BE), several representatives from Dutch insurance
companies and pension funds and colleagues from the University of Tilburg.
International contacts have been strengthened during research visits at the School of Mathematics,
Statistics & Operations Research at Victoria University of Wellington (Umut Can) and the Business
School of Imperial College in London (Tim Boonen). In the Netherlands we have organised working
group meetings for the Netspar research theme Risk Management for Funded Pension Systems and
another successful installment of the by now traditional autumn symposium for the Dutch Association
of Insurers (het Verbond van Verzekeraars). This year, the event was organized jointly with ACRM
(the Amsterdam Center of Excellence in Risk and Macro Finance), the new research priority area of
the faculty. The group actively participates in this center, which aims to develop more insight into
recessions, financial crises and systemic risk by using integrated methodologies from different
disciplines. During a successful ACRM workshop Micro Foundations for Macro Finance in
August, more than 30 people participated in a series of structured brainstorm session, seeking the
frontiers of the current methodological debate on micro models for financial intermediaries.
Strengths: New tenure tracks and a number of part-time positions have strengthened the research
profile of the group. We therefore expect to continue to play an important role in the national and
international research networks which study problems in actuarial science and mathematical finance.
Weaknesses: The group has many junior researchers and only a few senior researchers and there are
relatively many part-time positions in the group.
Opportunities: Research in the group comprises some traditional actuarial subjects but also looks at
the interplay between finance and insurance which has received increased attention since the
beginning of the financial crisis. This allows the group to play a growing role in Macro Finance Risk,
the new research priority area in the faculty.
44
Threats: The increased number of Master students for both Executive and regular programmes has
led to an increase in the number of theses that have to be supervised by the staff. This leads to
increasing pressure on the time available for research.
Below are several Research grants awarded to members of the group:
01/2010 – 01/2014. VIDI grant (NWO Vernieuwingsimpuls/Innovational Research Incentives
Scheme) ‘Econometrics of Contagion in Insurance and Finance’, prof. dr.R.J.A. Laeven,
€800.000.
01/2013 – 12/2015. Netspar theme grant: Risk Management for Funded Pension Schemes, theme
coordinator: prof. M.H. Vellekoop, €500.000.
01/2012 – 01/2015. Chair ‘Verzekeringseconomie’ sponsored by Verbond van Verzekeraars (Dutch
Association of Insurers), €400.000.
01/2012 – 01/2015. Sponsored PhD Research Grant, APG (Position of Zhenzhen Fan, extended).
2013. Sponsored PhD Research Grant, Van Ameyde (Position of Yuan Yue).
2013. EDEEM PhD Research Grant, jointly with Universidade Nova de Lisboa (Position of Marko
Petrov).
8.5 OUTPUT
Key publications
Aït-Sahalia, Yacine, Julio A. Cacho-Diaz & Roger J. A. Laeven (2015). Modeling financial contagion
using mutually exciting jump processes, Journal of Financial Economics 117, 585-606.
T.J. Boonen (2016). Nash equilibria of Over-The-Counter bargaining for insurance risk
redistributions: the role of a regulator. European Journal of Operational Research, 250 (3),
955-965.
Can, S. Umut, John H. J. Einmahl, Estate V. Khmaladze & Roger J. A. Laeven (2015).
Asymptotically distribution-free goodness-of-fit testing for tail copulas, Annals of Statistics
43, 878-902.
F. van Berkum, K. Antonio & M. Vellekoop (2015). The impact of multiple structural changes on
mortality predictions. Scandinavian Actuarial Journal.
Forthcoming
R. Verbelen, K. Antonio & G. Claeskens (2016). Multivariate mixtures of Erlangs for density
estimation under censoring. Lifetime Data Analysis, accepted for publication.
45
Output type
Classification
Refereed
#
13
Non-refereed
0
Professional
1
Popular
0
Refereed
1
Non-refereed
0
Professional
0
Popular
0
0
PhD theses
1
Working papers
2
Article in journal – refereed
Antonio, K., Bardoutsos, A. & Ouburg, W. (2015). Bayesian Poisson log-bilinear models for
mortality projections with multiple populations. European Actuarial Journal, 5 (2), 245-281.
Aït-Sahalia, Y., Cacho-Diaz, J. & Laeven, R.J.A. (2015). Modeling financial contagion using
mutually exciting jump processes. Journal of Financial Economics, 117 (3), 585-606.
Berkum, F. van, Antonio, K. & Vellekoop, M. (2015). The impact of multiple structural changes on
mortality predictions. Scandinavian Actuarial Journal.
Boonen, T.J. (2015). Competitive equilibria with distortion risk measures. ASTIN Bulletin, 45 (3),
703-728.
Can, S.U., Einmahl, J.H.J., Khmaladze, E.V. & Laeven, R.J.A. (2015). Asymptotically distributionfree goodness-of-fit testing for tail copulas. The Annals of Statistics, 43 (2), 878-902.
Dhaene, J., Stassen, B., Devolder, P. & Vellekoop, M. (2015). The minimal entropy martingale
measure in a market of traded financial and actuarial risks. Journal of Computational and
Applied Mathematics, 282, 111-133.
Eeckhoudt, L. & Laeven, R.J.A. (2015). The probability premium: A graphical representation.
Economics Letters, 136, 39-41.
Godecharle, E. & Antonio, K. (2015). Reserving by conditioning on markers of individual claims: a
case study using historical simulation. North American Actuarial Journal, 19 (4), 273-288.
Ikefuji, M., Laeven, R.J.A., Magnus, J.R. & Muris, C. (2015). Expected utility and catastrophic
consumption risk. Insurance: Mathematics & Economics, 64, 306-312.
Kaas, R., Gerber, H., Goovaerts, M., Shiu, E. & Albrecher, H. (2015). The impact factor of IME.
Insurance: Mathematics & Economics, 62, 1-4.
Kort, J. de & Vellekoop, M.H. (2015). Term structure extrapolation and asymptotic forward rates.
Insurance: Mathematics & Economics.
Verbelen, R., Gong, L., Antonio, K., Badescu, A. & Lin, S. (2015). Fitting mixtures of Erlangs to
censored and truncated data using the EM algorithm. ASTIN Bulletin, 45 (3), 729-758.
Verbelen, R., Antonio, K. & Claeskens, G. (2015). Multivariate mixtures of Erlangs for density
estimation under censoring. Lifetime Data Analysis.
Article in journal – professional
Can, S.U. & Laeven, R.J.A. (2015). Determining the right tail dependence model using R. Actuaris,
Mei 2015.
46
Book / book chapter –refereed
Charpentier, A. & Kaas, R. (2015). Introduction. In A. Charpentier (Ed.), Computational actuarial
science with R (Chapman & Hall/CRC The R Series) (pp. 1-72). Boca Raton: CRC Press.
Report – professional
Antonio, K. & Devriendt, S. (2015). Lang leven in België: een nieuwe prognose. (Leuvense
Economische Standpunten, no LES 2015/151). Leuven: KU Leuven.
Boonen, T. & Waegenaere, A. de (2015). Boekhoudkundige regelgeving voor
bedrijfspensioenfondsen: van IAS 19 naar IAS 19R. (Netspar Economische Adviezen (NEA
Paper), no 59). Tilburg: Netspar.
Berkum, F. van, Antonio, K. & Vellekoop, M. (2015). A Bayesian joint model for population and
portfolio-specific mortality. (Netspar Discussion Paper Series, no DP 11/2015-034). Tilburg:
Netspar.
Boonen, T., Tan, K.S. & Zhuang, S.C. (2015). Optimal reinsurance with one insurer and multiple
reinsurers. Amsterdam: University of Amsterdam.
UvA dissertation – internally prepared
Yang, X. (2015, Juni 16). Essays on high frequency financial econometrics. Universiteit van
Amsterdam (vi, 182 pag.) (Amsterdam: Tinbergen Institute). Prom./coprom.: prof.dr. H.P.
Boswijk & prof.dr. R.J.A. Laeven.
Antonio K. (2015). Member of the scientific committee of ASTIN 2015, Sydney, Australia.
Antonio K., Laeven, R. and Vellekoop, M.H. (2015). Member of the program committee of Rob and
R in insurance Conference, University of Amsterdam, June 29-30, 2015.
Antonio K. and Vellekoop, M.H. (2015). Member of the jury of the Econometric Game, the
world championship of Econometrics, Amsterdam.
Laeven, Roger J. A.: Organizer of an ACIS-ACRM Mini Symposium on Solvency and Financial
Stability, Koninklijk Instituut voor de Tropen, Amsterdam, November 6, 2015.
Recognition
Laeven, Roger J. A.: Nominated for the New Scientist Science Talent 2015.
Laeven, Roger J. A.: Van Ameyde-UvA PhD Research Grant: Economic and Statistical Aspects of
Insurance Fraud. [EUR 150,000]
Laeven, Roger J. A.: APG-UvA PhD Research Grant: Contagion and Portfolio Choice. [EUR
103,000]
Laeven, Roger J. A.: Sponsorship Chair of Risk and Insurance by the Dutch Association of Insurers.
[EUR 480,000]
Vellekoop, M.H..: Netspar Theme Grant 2013-2016 (project leader). [EUR 500,000]
Vellekoop, M.H..: EDEEM Research Grant for PhD student Marko Petrov (jointly with Universidade
Nova de Lisboa) . [± EUR 150,000]
Media appearance
Bilsen, S. (2015). Interview ‘gedragseconomie als leidraad voor je pensioen’, BNR Nieuwsradio,
03/11/2015.
http://www.bnr.nl/radio/bnr-spitsuur/wetenschap-vandaag/5638421511/gedragseconomie-als-leidraad-voor-je-pensioen
Laeven, Roger J. A.: Interview in De Actuaris on Science and Practice, March 2015.
47
Laeven, Roger J. A.: Interview in Eureka on Solvency II, April 2015.
Laeven, Roger J. A.: Interview in Het Parool on Financial Contagion, August 26, 2015.
Laeven, Roger J. A.: Interview in Het Financieele Dagblad on Actuarial Science Education,
September 19, 2015.
Antonio K. (2015). Micro–level stochastic loss reserving for general insurance: a multi-state approach
with flexible payment distributions. Talk in the Econometric challenges in risk management
(host: prof. Laura Spierdijk, RUG) at CFE/ERCIM 2015, University College London (UK),
December 12, 2015.
with flexible payment distributions. Ageas CE workshop on reserving in general insurance,
Brussels, December 9, 2015.
with flexible payment distributions. (host: prof. H.J. Albrecher) Université de Lausanne,
Lausanne, Switzerland, October 31, 2015.
Antonio K. (2015). Bayesian Poisson log-bilinear models for mortality projections with multiple
populations. Quantact research seminar, UQAM, Montreal, August 3, 2015.
Antonio K. (2015). Micro-level loss reserving. Seminar series in mathematical statistics, Stockholm
University, Sweden, May 27, 2015.
Antonio K. (2015). The AG2014 and IA|BE 2015 mortality projection models. Guest lecture at RUG
(host: prof. Laura Spierdijk), Groningen, March 18, 2015.
Antonio K. (2015). The IA|BE 2015 mortality projection model. Mortality forum IA|BE, Brussels,
February 26, 2015.
Boonen, T.J. (2015, March 10). Risk sharing with Dual Utilities. University of Waterloo (host: Ken
Seng Tan).
Boonen, T.J. (2015, March 15). Risk sharing with Dual Utilities. Georgia State University (host:
Daniel Bauer).
Can, S.U. (2015, September 8). Asymptotically distribution-free goodness-of-fit testing for tail
copulas. Invited talk in the International Conference on Probability Theory and Statistics
(host: Estate V. Khmaladze), I. Javakhishvili Tbilisi State University, Georgia.
Can, S.U. (2015, November 12). Asymptotically distribution-free goodness-of-fit testing for tail
copulas. Invited talk in the Joint Statistics Seminar (host: Irène Gijbels), KU Leuven,
Belgium.
Fan, Z (2015, July, 7). Asymmetric excitation and the US Bias (host: Dr. Juri Hinz) at European
Meeting of Statistics 2015, Vrije Universiteit, Amsterdam.
Laeven, Roger J. A.: November 19, 2015. Modeling Systemic Risk, Invited Speaker, KULeuven,
Leuven, Belgium.
Laeven, Roger J. A.: November 6, 2015. Solvency and Financial Stability, Invited Speaker,
Koninklijk Instituut voor de Tropen, Amsterdam, The Netherlands.
Laeven, Roger J. A.: September 6-12, 2015. Return Measures of Risk, Invited Speaker, International
Conference
on
Probability
Theory
and
Statistics,
Tbilisi,
Georgia.
Laeven, Roger J. A.: May 26-29 2015. Robust Optimal Stopping, Invited Speaker, Models
and Numerics in Financial Mathematics, Lorentz Center, Leiden, The Netherlands.
Lalu, A. (2015, January 27). Asset returns with self-exciting jumps: option pricing and time-varying
jump risk premia. Special invited lecture at 14th Winter School on Mathematical Finance,
Congrescentrum De Werelt, Lunteren, NL.
Vellekoop, M.H. (2015, March 24). On Incomplete Markets. Invited talk, University of Udine. Udine,
Italy.
Vellekoop, M.H. (2015, august 20). Show me the measure! Invited Talk ABN AMRO Quants
Knowledge Sharing Seminar, Amsterdam.
Vellekoop, M.H. (2015, dec) Term Structure Extrapolation and Asymptotic Forward Rates. Invited
Talk, Conference on Computational and Financial Econometrics.
48
Other lectures
Antonio K. (2015). A Bayesian joint model for population and portfolio specific mortality. Brown bag
seminar, KU Leuven, December 3, 2015.
Berkum, F. van (2015, 13 January). Bayesian portfolio-specific mortality. PARTY2015 Workshop,
Liverpool, UK.
Berkum, F. van (2015, 25 June). Bayesian portfolio-specific mortality. IME 2015, Liverpool, UK.
Berkum, F. van (2015, 7 September). Bayesian portfolio-specific mortality. Longevity11 Conference,
Lyon, France.
Berkum, F. van (2015, 1 October). Bayesian portfolio-specific mortality. Netspar Pension Day,
Utrecht, the Netherlands.Laeven, Roger J. A.: November 12-13, 2015. Return Measures of
Risk, Workshop on Dependence & Risk Measures, University of Milano-Bicocca, Milano,
Italy.
Boonen, T.J. (2015, December 10). Netspar meeting. Solvency II with Expected Shortfall. University
of Amsterdam.
Laeven, Roger J. A.: August 4, 2015. Prudence, temperance and other virtues: The dual story, Invited
Speaker, WRIEC, Munich, Germany.
Laeven, Roger J. A.: June 24-26, 2015. Return Measures of Risk, 19th International Congress on
Insurance: Mathematics and Economics, Liverpool, UK.
Laeven, Roger J. A.: June 24-26, 2015. On the Esscher-Girsanov Transform, 19th International
Congress
on
Insurance:
Mathematics
and
Economics,
Liverpool,
UK.
Lalu, A. (2015, May 29). Asset returns with self-exciting jumps: option pricing and estimation
with a continuum of moments. Proposed contribution to DYNSTOCH Network Conference
2015, Lund University, Lund, SWE.
Lalu, A. (2015, June 2). Asset returns with self-exciting jumps: option pricing and estimation with a
continuum of moments. Short presentation during SoFiE Spring School, Brussels National
Bank, Brussels, BE.
continuum of moments. Poster presentation at Netherlands Econometrics Study Group
Meeting, Maastricht University, Maastricht, NL.
continuum of moments. Invited lecture at 8th Annual SoFiE Conference, Aarhus University,
Aarhus, DK.
Lalu, A. (2015, July 9). Asset returns with self-exciting jumps: option pricing and estimation with a
continuum of moments. Contributed talk at European Meeting of Statisticians 2015, VU
University Amsterdam, Amsterdam, NL.
Laeven, Roger J. A.: Promotor (with Prof. H. P. Boswijk) of Xiye Yang, University of Amsterdam,
June 16, 2015.
Laeven, Roger J. A.: Promotor (with Prof. T. E. Nijman and Prof. A. L. Bovenberg) of Servaas van
Bilsen, Tilburg University, November 4, 2015.
Vellekoop, M.H.: Membership Phd Committee of Sally Chen (June 22, 2015, University of
Maastricht, promotores: prof. A. Pelsser and prof. P, Schotman)
Vellekoop, M.H. Membership Phd Committee of Xiye Yang (June 16, 2015, University of
Amsterdam, promotores: prof. H.P. Boswijk and prof. R. Laeven )
Vellekoop, M.H. Membership Phd Committee of Ben Stassen (KU Leuven, August 31, 2015;
promotor: prof. J. Dhaene)
Editorship
Antonio, A. (2015). European Actuarial Journal. Member of the Editorial Board
Kaas, R.. (2014). Insurance: Mathematics and Economics. Managing editor.
Laeven, Roger J.A.: Dependence Modelling, Associate Editor.
49
Laeven, Roger J. A.: Insurance Markets and Companies: Analyses and Actuarial Computations,
Associate Editor.
Laeven, Roger J. A.: Insurance: Mathematics and Economics, Associate Editor.
Relevant position
Laeven, Roger J. A.: Visiting Professor at the Bendheim Center for Finance, Princeton University,
US, August 2015.
Laeven, Roger J. A.: Co-Director of the Research Focal Area of Risk and Macro Finance at the
Laeven, Roger J. A.: Advisor and Co-Director of the Multivariate Risk Modeling Group, Eurandom,
the European Institute for Statistics, Probability, Stochastic Operations Research and Its
Applications, Eindhoven, The Netherlands.
Laeven, Roger J. A.: Fellow and Director of the Insurance Supervision Research Program of the
Amsterdam Centre for Insurance Studies (ACIS).
Laeven, Roger J. A.: Extramural Fellow of CentER.
Laeven, Roger J. A.: Fellow of the cluster Stochastics --- Theoretical and Applied Research (STAR).
Boonen, T., Laeven, Roger J. A & Vellekoop, M.H..: Fellow of the Network for Studies on Pensions,
Aging and Retirement (Netspar).
Vellekoop, M.H. (2015) Member of the Commission on Mortality Research, Koninklijk Actuarieel
Genootschap.
50
9. MINT - MACRO AND INTERNATIONAL ECONOMICS
Programme director:
METIS-code:
JEL-classification:
Starting date:
Website:
Prof. dr. F.J.G.M. Klaassen
uva/feb/ase/mint
E, F, H
2001
www.aseri.uva.nl/mint
Name
Beetsma, R.
Beetsma, R.
Bonthuis, B.
Bonthuis, B.
Chan, S.
Chen, D.
Ciurila, N.
Ewijk, C. van
Ewijk, C. van
Ewijk, C. van
Furtuna, O.
Giuliodori, M.
Gornicka, L.
Hanson, J.
Hoogduin, L.
Houben, A.
Jakucyonite, E.
Jager, H.
Klaassen, F.J.G.M.
Knot, K.
Kwaak, C. van der
Leefmans, N.
Lekniute, Z.
Lorié, J.A.
Maurik, R. van
Mavromatis, K.
Micevska Scharf, M.
Parlevliet, J.
Pinter, J.
Romp, W.E.
Singh, S.
Stoltenberg, C.A.
Teulings, C.N.
Teulings, R.
Title
prof. dr.
prof dr
msc
msc
msc
msc
msc
prof. dr.
prof. dr.
prof. dr.
msc
prof. dr.
msc
msc
prof. dr.
prof. dr.
msc
prof. dr.
prof. dr.
prof. dr.
msc
drs.
msc
dr.
msc
dr.
dr.
msc
msc
dr.
msc
dr.
prof dr
msc
Function
hgl
hgl
phd
guest
phd
phd
phd
hgl
hgl
hgl
phd
hgl
phd
guest
hgl
hgl
phd
guest
hgl
hgl
phd
docent
guest
guest
phd
ud
postdoc
guest
guest
ud
phd
ud
hgl
phd
Total
2013
0,25
0,25
0,47
0,00
0,27
0,80
0,14
0,50
0,80
0,00
0,00
0,00
0,50
0,80
0,00
0,00
0,00
0,27
0,50
0,77
0,00
0,50
0,27
0,50
0,10
0,13
51
Total
2014
0,25
0,25
0,00
0,80
0,80
0,27
0,08
0,05
0,30
0,27
0,50
0,60
0,00
0,00
0,27
0,00
0,50
0,80
0,00
0,00
0,00
0,80
0,50
0,80
0,00
0,00
0,50
0,80
0,50
0,10
0,80
Total
2015
0,25
0,25
0,00
0,80
0,80
0,80
0,08
0,05
0,30
0,80
0,50
0,53
0,00
0,00
0,80
0,00
0,50
0,00
0,80
0,00
0,00
0,00
0,80
0,50
0,80
0,00
0,00
0,50
0,80
0,50
0,10
0,80
Funding
1
3
3
1
1
3
1
1
2
3
1
1
2
1
1
1
1
1
1
1
2
1
1
1
3
1
2
1
1
1
1
1
1
1
Name
Title
dr.
Veestraeten, D.
Vermeylen, K.
dr.
drs.
Vos, S.J.
dr.
Westerhout, E.
prof. dr.
Wijnbergen, S.J.G.
Zaheer, S.
drs.
msc.
Zhao, L.
msc.
Zhuo, R.
dr.
Zouain Pedroni, M.
PhD students
Function
ud
ud
guest
ud
hgl
guest
phd
phd
ud
Total
2013
0,08
0,00
0,00
0,08
0,49
0,00
0,80
4,31
2,37
2,59
3,64
9,27
4,61
Total
2014
0,24
0,00
0,25
0,50
0,80
7,13
2,25
2,95
3,92
12,33
8,46
Total
2015
0,25
0,00
0,25
0,50
0,53
0,20
0,21
9,14
2,18
2,68
4,14
14,00
8,46
Funding
1
1
1
1
1
1
3
1
1
Objective
The programme uses empirical and theoretical methods to analyse important economic issues in the
areas of macroeconomics and international economics. Special emphasis is given to the evaluation of
existing fiscal and monetary policies and the question how these policies can be improved upon.
Dissemination of the results takes place mainly via international, refereed scientific journals, but also
via more policy-oriented outlets.
Motivation
The economic growth that a country experiences not only has direct effects on the available resources,
it can also have important indirect effects through, for example, the stability of the social and political
environment. Similarly, the business cycle fluctuations countries face can have far-reaching
consequences to many, especially if these fluctuations mainly fall on subgroups within the population.
It is therefore crucial to thoroughly understand the characteristics of economic developments, the
factors behind them, and to what extent and how governments can affect these developments. The
recent international sovereign debt crisis and discussions on the sustainability of pension systems
exemplify this.
Themes
Major international economic developments and policy debates generate a continuous stream of
research ideas for our group. The resulting projects are often intertwined, but we choose to categorize
them into the following (interrelated) themes. Only a selection of all projects will be discussed.
Fiscal policy and sovereign debt
Fiscal policy is a crucial aspect of macroeconomics. Given that government expenditures are a
substantial fraction of GDP, they play an important role in welfare redistribution, and financing these
expenditures through debt and taxes is likely to have important effects on, for example, financial
markets, labour force participation, and investment. Roel Beetsma, Oana Furtuna, and Massimo
Giuliodori find that fiscal consolidations lower consumer confidence. If confidence is a concern and
consolidation is unavoidable, spending-based measures seem preferable. Slump periods are not
52
necessarily bad moments for such measures. Their paper was the basis of an article in the Wall Street
Journal, as the paper largely backs Europe’s austerity strategy. Coen Teulings studies optimal fiscal
policy in the aftermath of a financial crisis. Fiscal policy is a matter of timing: when to do the
inevitable austerity when a crisis hits the economy. Roel Beetsma and Massimo Giuliodori examine
the impact of news, obtained from the Eurointelligence newsflash, on Eurozone sovereign yields.
More news decreases the covariance of distressed countries’ yields with German bond yields,
suggesting a flight-to-quality effect. Bond purchases by the ECB under its Securities Markets
Program (SMP) mitigate this. Christiaan van der Kwaak and Sweder van Wijnbergen study the
intermingling of financial crises and sovereign default risk. The recent Eurozone crisis has shown the
interconnection between problems in the financial sector, which can start a recession, and fiscal
problems, which are exacerbated by a recession and may complicate financial bail outs necessary to
resolve the initial financial sector problems.
Financial fragility and macroeconomics
This theme was also stimulated by the recent crises, showing the interaction between banking distress,
fiscal policy to mitigate financial crisis, public debt, sovereign risk, international spill overs, and
banking supervision. Stephanie Chan and Sweder van Wijnbergen study contingent convertible
capital (CoCos), which are debt instruments issued by banks that can be written off or converted to
equity when the issuer’s equity ratio falls below a certain level. Contrary to popular opinion, they
argue that CoCo conversion may trigger depositor bank runs. This is important, because Basel III
Additional Tier 1 capital is comprised mainly of instruments that sound like CoCos. Egle Jakucionyte
and Sweder van Wijnbergen study how depreciations of currencies in Eastern Europe in October
2008, where the private sector had borrowed heavily in foreign currency, has created debt overhang,
and they find this a potential reason for the prolonged recession. Christian van der Kwaak and Sweder
van Wijnbergen consider the Basel III rules, in which commercial banks are required to abide by
higher capital requirements, and they investigate the impact on lending by commercial banks to firms.
Aerdt Houben aims to establish the effectiveness of macro-prudential policies across advanced and
emerging economies. Effectiveness is assessed on the basis of the impact on broad credit aggregates
as well as on substitution effects from bank to non-bank credit.
Monetary economics and policy
Monetary policy is used throughout the world to accomplish important macroeconomic objectives
such as price stability, exchange rate stability, and/or full employment. In one project Christian
Stoltenberg has studied monetary policy in the United States. Since the mid-1980s the interest-rate
policy of the Federal Reserve System has been more aggressive in fighting inflation than in the past.
He explains this with a decreasing role of cash in transactions. Kostas Mavromatis studies the
macroeconomic effects of central bank forward guidance when agents are boundedly rational and
form heterogeneous expectations about the future stance of monetary policy. He finds that such
heterogeneity may either delay the recovery of the economy, or make it even faster depending on the
degree of heterogeneity and the speed of learning of agents.
Foreign exchange market
The foreign exchange market is the largest financial market in the world. Many countries have
managed or fixed exchange rates. Speculative attacks on them can have serious economic and societal
consequences. Franc Klaassen, Kostas Mavromatis, and Rui Zhuo study exchange market pressure,
that is, the pressure on a currency to depreciate, and the consequences for monetary policy. Dirk
Veestraeten examines exchange rate dynamics under the prospect of (potential) future shifts in the
regime, such as the move towards a fixed exchange rate. He studies the transition of the pound back to
the gold standard in the 1920s and the claim by Keynes that the prospect of such a return at the first
instance of hitting the pre-war parity actually fuelled the appreciation back to gold in April 1925 at an
overvalued value. Extending the tools of stochastic process switching he can generate precisely the
type of overvaluation that Keynes saw.
53
Pensions
Research projects of Roel Beetsma, Boele Bonthuis, Damiaan Chen, Nicoleta Ciurila, Casper van
Ewijk, Ron van Maurik, Ward Romp, Siert Jan Vos, and Ed Westerhout focus on the optimal design
of pensions systems, which is heavily debated at present, and their sustainability and the
consequences of changing them. For example, Roel Beetsma and Damiaan Chen model the decision
of individuals to participate in a collective pension scheme as an (American) option with
approximately infinite exercise dates, and they investigate whether the Dutch pension scheme would
be stable in the absence of mandatory participation. Roel Beetsma, Ron van Maurik, and Ward Romp
have constructed a unique comprehensive dataset of pension reforms for a broad sample of OECD
countries since 1970. They find that most pension reform is triggered by problems in the
government’s budget, despite the fact that pension reforms are primarily aimed at the longer run.
Casper van Ewijk investigates the relation between pension wealth and GDP and concludes that
funded pensions contribute to economic growth. In particular, funded pensions create deeper capital
markets and make it easier for firm to finance their investment.
Inequality
Several measures of inequality have increased over the past decades, something that has also been
communicated by Piketty in his recent book. This, and the fact that the economics profession with the
help of computers has been able to tackle ever more complex models with heterogeneous agents
makes inequality an increasingly important research theme. Marcelo Pedroni studies how
governments should tax capital and labour income. Such taxation reduces inequality, but at the
expense of distorting individuals decisions. Ultimately, the optimal taxes must weigh these cost and
benefits and he provides a quantitative answer to this question. Christian Stoltenberg and Swapnil
Singh study the relationship between income and consumption inequality. They explain why the
present workhorse heterogeneous agent models are not able to capture some salient features of the
data, and they show how incorporating the extra information individuals have about their future
income improves the fit with the data.
Labour economics
Coen Teulings has worked on an extension of his Econometrica paper. An implication of the model in
that paper is that the return to seniority is higher in industries with a lot of firm-specific human
capital. He derives this implication in his new paper and provides evidence on it. Maja Micevska
Scharf and Casper van Ewijk have worked on the effects of Social Security Contributions (SSCs) on
earnings, using large administrative panel data in France, Germany, the Netherlands and the UK that
have never been used in a cross-country analysis. This is particularly relevant now that many
countries have increased, or are considering increasing, SSCs to deal with large budget deficits.
In 2015 MInt published 13 articles in international refereed journals, and there are 9 of such
publications forthcoming. In his speech to the annual meeting of the IMF, Draghi, president of the
ECB, used the paper by Sweder van Wijnbergen about bank recapitalization and recessions, as Draghi
told him in person. The Wall Street Journal wrote an article based on the work by Roel Beetsma,
Oana Furtuna, and Massimo Giuliodori. Roel Beetsma was ranked 12 in the ESB Economentop, and
Massimo Giuliodori was number 25. There were TV appearances by Franc Klaassen, who was
interviewed by CNN about his book Analyzing Wimbledon, and by John Lorié, who gave his view on
the international consequences of an economic slowdown in China for Bloomberg and the BBC. We
managed to attract Facundo Piguillem from EIEF Rome as an associate professor, funded by an AAA
(UvA-VU) fellowship.
The year 2015 experienced some changes in the composition of the group, which grew as a whole.
Klaas Knot (president of the Dutch Central Bank, member of the ECB Governing Council, and a
Governor of the IMF) joined the group as a professor, and also his colleague Aerdt Houben started as
a part-time professor. Gabriele Ciminelli and Rui Zhuo joined from the Tinbergen Institute MPhil
54
programme. Marcelo Pedroni, after obtaining his PhD from the University of Minnesota, started as a
tenure track assistant professor, and Alex Clymo came from LSE to work as a postdoc here. Lucyna
Gornicka (supervised by Sweder van Wijnbergen) graduated and accepted a job at the IMF and Lin
Zhao started at ABN AMRO. EDEEM student Julien Pinter moved back to Paris. MInt members are
currently in contact with external partners to attract additional funding to further strengthen the group.
We continue to stimulate the coherence of the group by seminars, joint lunches, drinks, and other
activities.
The visibility of the group and the interaction with the academic community have been further
enhanced through joint papers, numerous external presentations, conference participations, contacts
with renowned universities (including the University of Chicago, London School of Economics, New
York University, and University of Oxford), and participation in networks such as Netspar (Casper
van Ewijk as director, and Roel Beetsma as chairman of the editorial board). We have a seminar series
with well-known speakers, which is organised jointly with the VU University Amsterdam and funded
by the Tinbergen Institute. The programme is being noticed by the outside world, for instance
reflected by invitations for presentations, contributions to research volumes, referee activities, and the
aforementioned non-academic exposure.
There are intensive contacts with policy institutions via visitorships and joint research papers (Bank of
Canada, Bank of England, BIS, Central Bank of Ireland, Deutsche Bundesbank, ECB, European
Commission, Federal Reserve Bank of Minneapolis, German Ministry of Finance, IMF, OECD,
World Bank, WTO, among others), via Preadviezen for the Koninklijke Vereniging voor de
Staathuishoudkunde, via joint positions (Maja Micevska Scharf and Ed Westerhout are also affiliated
to the CPB), consultancy work (ECB), seminars, teaching (by employees of the Dutch Central Bank),
and memberships of several advisory committees for the Dutch government, such as the Social and
Economic Council of the Netherlands (SER). There are also direct contacts with several Dutch
ministers and members of parliament, also in parliamentary hearings, on topics such as pension
reform, financial sector reform, and general macroeconomic policy.
MInt has collaborations with the business sector, such as APG, Atradius, BNG Vermogensbeheer,
Energie Beheer Nederland (EBN), MN, and SEO Economisch Onderzoek. And MInt takes part in
public debates on issues such as health care, pension reform and reform of the banking sector.
Particularly Roel Beetsma, Casper van Ewijk, Coen Teulings, and Sweder van Wijnbergen are
frequently asked by radio and television channels to comment on such topics, and they regularly write
for opinion pages of quality newspapers. Sweder van Wijnbergen has set up collaboration with the
LUMC hospital and the National Institute for Public Health and the Environment (RIVM) based on
his real options research. Another sign of the societal relevance is that many undergraduate students
take our courses and write their theses at MInt. Those students also offer ways to disseminate insights
from research on key (inter)national events and debates to society.
Strengths: Good and relevant productivity and good (inter)national reputation. High societal
relevance: numerous contacts with policy makers, businesses, media, and so on. Strong PhD
programme. Solid funding base, not only because we serve many undergraduate students, but also
because of our connections to the non-academic world. Coherent group. Good seminar series, jointly
with the VU.
Weaknesses: We experience severe competition in the job market, especially from financial and
policy institutions. Because of good outside options, it is easy to lose good researchers and not always
easy to convince excellent undergraduate students to pursue a PhD.
Opportunities: We are trying to increase external funding so as to enlarge the group. Our expanding
contacts with the financial industry generate opportunities in this regard. We have contacts with many
BSc and MSc students and alumni, which creates opportunities for the research group, for example
through their contacts at policy institutions and businesses. We wish to further exploit our
international contacts.
55
Threats: Financial distress at FEB and the resulting faculty reorganisation with vacancy stop have
substantially increased the teaching load and administrative duties for MInt researchers. This is
particularly relevant due to the number of undergraduate students that we serve. The situation has
improved in 2014, but it takes time to increase research output again. Another threat comes from the
decreasing funding for research, partly because of the UvA allocation model.
To finance our conferences, traveling, seminars, visitors, and so on, we use first-stream resources
from the government, funds from the ASE Research Institute, the Tinbergen Institute, and the
following other resources. The successful cooperation between Roel Beetsma and MN, one of the
largest pension administrators and pension wealth managers in the Netherlands, has continued. The
company sponsors the MN Chair in Pension Economics and two PhD students. Moreover, Casper van
Ewijk uses a European (NWO-ORA) subsidy on social security contributions and wages (postdoc).
His own research time is also to a large extent sponsored by Netspar. Risk and Macro Finance, the
FEB acclaimed research focal area with Sweder van Wijnbergen as one of the directors, finances the
postdoc position of Alex Clymo. Sweder van Wijnbergen also supervises several PhD students who
are financed externally: Lin Zhao has a grant from EBN, a Dutch holding company for national gas
interests of the Dutch state; Christiaan van der Kwaak is funded by a three-year NWO Research
Talent scholarship. Finally, the cooperation with Atradius Credit Insurance will hopefully lead to
funding for a postdoc.
9.5 OUTPUT
Key publications
Beetsma, R.M.W.J. & Giuliodori, M. (2011). The Effects of Government Spending Shocks: Review
and Estimates for the EU. Economic Journal 121, F4-32.
Beetsma, R.M.W.J., Cimadomo, J., Furtuna, O. & Giuliodori, M. (2015). The confidence effects of
fiscal consolidations. Economic Policy, 30 (83), 439-489.
Buhai, S.I., Portela, M.A. Teulings, C.N. & Van Vuuren, A. (2014). Returns to tenure or seniority?
Econometrica, 82, 705-730.
Covas, F. & Den Haan, W.J. (2011). The cyclical behavior of debt and equity finance. American
Economic Review 101, 877-899.
Daniëls, T.R., Jager, H. & Klaassen, F.J.G.M. (2011). Currency Crises with the Threat of an Interest
Rate Defence. Journal of International Economics 85, 14-24.
Kriwoluzky, A. & Stoltenberg, C.A. (2015). Monetary Policy and the Transaction Role of Money in
the United States. Economic Journal, 125, 1452-1473.
Schabert, A. & Van Wijnbergen, S.J.G. (2014). Sovereign default and the stability of inflation
targeting regimes. IMF Economic Review, 62, 261-287.
Forthcoming
Beetsma, R., Cukierman, A. & Giuliodori, M. (2016). The Political Economy of Redistribution in the
U.S. in the Aftermath of World War II - Evidence and Theory, American Economic Journal:
Economic Policy.
Beetsma, R., Giuliodori, M., Jong, F. de & Widijanto, D. (2016). Price effects of sovereign debt
auctions in the Euro-zone: the role of the crisis, Journal of Financial Intermediation.
Beetsma, R., Giuliodori, M. & Sakalauskaite, I. (2016). Long-term interest rates and public debt
maturity, Economica.
56
Chen, D., Beetsma, R., Ponds, E. & Romp, W. (2016). Intergenerational risk-sharing through funded
pensions and public debt, Journal of Pension Economics and Finance.
Draper, N., Westerhout. E. & Nibbelink, A. (2016). Defined benefit pension schemes: a welfare
analysis of risk sharing and labour market distortions, Journal of Pension Economics and
Finance.
Hussem, A., ter Rele, H., van Ewijk, C. & Wong, A. (2016). The ability to pay for long-term care in
the Netherlands: a life-cycle perspective, De Economist.
Kriwoluzky, A. & Stoltenberg, C.A. (2016). Nested models and Model Uncertainty, Scandinavian
Journal of Economics.
Veestraeten, D. (2016). Some integral representations and limits for (products of) the parabolic
cylinder function, Integral Transforms and Special Functions.
Wijnbergen, S.J.G. van & Kirchner, M. (2016). Fiscal Deficits, Financial Fragility, and the
Effectiveness of Government Policies, Journal of Monetary Economics.
Output type
Classification
Refereed
#
13
Non-refereed
3
Professional
6
Popular
5
Refereed
1
Non-refereed
1
Professional
0
Popular
1
0
PhD theses
2
Working papers
13
Beetsma, R., Giuliodori, M., Jong, F. de & Widijanto, D. (2015). Price effects of sovereign debt
auctions in the euro-zone: the role of the crisis. Journal of Financial Intermediation.
Beetsma, R.M.W.J. & Bucciol, A. (2015). Risk reallocation in defined-contribution funded pension
systems. Macroeconomic Dynamics, 19 (1), 22-57.
Beetsma, R., Cimadomo, J., Furtuna, O. & Giuliodori, M. (2015). The confidence effects of fiscal
consolidations. Economic Policy, 30 (83), 439-489.
Draper, N., Westerhout, E.W.M.T. & Nibbelink, A. (2015). Defined Benefit Pension Schemes: A
Welfare Analysis of Risk Sharing and Labour Market Distortions. Journal of Pension
Economics and Finance.
Gautier, P.A. & Teulings, C.N. (2015). Sorting and the output loss due to search frictions. Journal of
the European Economic Association, 13 (6), 1136-1166.
Kriwoluzky, A. & Stoltenberg, C.A. (2015). Monetary policy and the transaction role of money in the
US. Economic Journal, 125 (587), 1452-1473.
Mavromatis, K., Taylor, M.P. & Boero, G. (2015). Real Exchange Rates and Transition Economies.
Journal of international Money and Finance, 56, 23-35.
Stoltenberg, C.A. & Kriwoluzky, A. (2015). Nested models and model uncertainty. The Scandinavian
Journal of Economics.
Veestraeten, D. (2015). A recursion formula for the moments of the first passage time of the OrnsteinUhlenbeck process. Journal of Applied Probability, 52 (2), 595-601.
Veestraeten, D. (2015). On the inverse transform of Laplace transforms that contain (products of) the
parabolic cylinder function. Integral Transforms and Special Functions, 26 (11), 859-871.
57
Veestraeten, D. (2015). Some remarks, generalizations and misprints in the integrals in Gradshteyn
and Ryzhik. Scientia. Series A. Mathematical Sciences, 26, 115-131.
Wijnbergen, S.J.G. van & Willems, T. (2015). Learning dynamics and support for economic reforms:
why good news can be bad. The World Bank Economic Review.
Wijnbergen, S. van & Willems, T. (2015). Optimal learning on climate change: why climate skeptics
should reduce emissions. Journal of Environmental Economics and Management, 70 (-), 1733.
Article in journal – non-refereed
Beetsma, R., Constandse, M., Cordewener, F., Romp, W. & Vos, S.J. (2015). The Dutch pension
system and the financial crisis. CESIfo DICE Report, 13 (2), 14-19.
Ewijk, C. van, Beetsma, R.W.W.J. & Bovenberg, A.L. (2015). Canon 18: Pensioenen. ESB economie.nl, 10 (4718), 266-271.
Teulings, C. & Baldwin, R. (2015). Oorzaken van en remedies voor seculaire stagnatie. Jaarboek Koninkijke Vereniging voor de Staathuishoudkunde, 2015, 217-226.
Beetsma, R., Bovenberg, L. & Ewijk, C. van (2015). Canon deel 18: pensioenen. EconomischStatistische Berichten, 100 (4718), 562-567.
Beetsma, R.M.W.J., Chen, D.H.J., Romp, W.E. & Vos, S.J. (2015). Verplichtstelling van pensioenen.
Aenorm.
Cordewener, F., Kortleve, N., Rebers, E. & Vos, S.J. (2015). Eenmalige uitkering bij pensionering
faciliteren. Tijdschrift voor Pensioenvraagstukken, 2015 (5):38.
Gottfries, A. & Teulings, C.N. (2015). Can demography explain secular stagnation? VOXEU.
Westerhout, E.W.M.T. (2015). Arbeidsmarkteffecten van de doorsneesystematiek. Economisch
Statistische Bereichten, 100 (4722), 674-677.
Wijnbergen, S.J.G. van (2015). Islamitisch bankieren en financiële stabiliteit. Economisch-Statistische
Berichten.
Article in magazine or newspaper – popular scientific
Beetsma, R. & Wijnbergen, S. van (2015, Januari 15). Afschrijven van Griekse schuld is enige weg
vooruit. Het Financieele Dagblad.
Beetsma, R. (2015, Juli 18). Derde steunpakket Griekenland geeft niet veel hoop. Het Financieele
Dagblad.
Beetsma, R. & Gradus, R.H.J.M. (2015, September 16). Kabinet zet sluizen van begrotingsbeleid wijd
open. Het Financieele Dagblad.
Beetsma, R., Dissel, H.G. van & Salomon, M. (2015, Maart 17). Weinig mis met rendementsdenken.
Het Financieele Dagblad.
Romp, W.E. & Beetsma, R.M.W.J. (2015, Januari 07). Kijk uit met inzetten van pensioengelden voor
aflossen woningschuld. Het Financieele Dagblad, pp. 10-10.
Internet article - professional
Westerhout, E.W.M.T. (2015). De mooie kant van de doorsneesystematiek. (overig). (available: 28
sep 2015).
Book / book chapter – refereed
Groot, H.L.F. de, Marlet, G., Teulings, C. & Vermeulen, W. (2015). Cities and the urban land
premium. Cheltenham: Elgar.
58
Book / book chapter – non-refereed
Beetsma, R. (2015). Fiscal policy in the EU: an overview of recent and potential future developments.
In H. Badinger & V. Nitsch (Eds.), Routledge handbook of the economics of European
integration (Routledge international handbooks) (pp. 143-156). London: Routledge.
Book / book chapter – popular
Klaassen, F.J.G.M. & Magnus, J.R. (2015). Does the serving-first advantage actually exist? In The
OUPblog Tenth Anniversary Book. Oxford: Oxford University Press.
Górnicka, L.A. (2015, Juni 30). Regulating financial markets: Costs and trade-offs. Universiteit van
Amsterdam (v, 148 pag.) (Amsterdam: Tinbergen Institute). Prom./coprom.: prof.dr. S.J.G.
van Wijnbergen.
UvA dissertation – externally prepared
Damsma, D.F. (2015, Januari 09). On the articulation of systematic-dialectical methodology and
mathematics. Universiteit van Amsterdam (viii, 201 pag.). Prom./coprom.: prof.dr. J.B. Davis
& dr. G.A.T.M. Reuten.
Bonenkamp, J., Broer, D.P. & Westerhout, E.W.M.T. (2015). Intergenerationele risicodeling in
collectieve en individuele pensioencontracten. Netspar.
Chen, D.H.J. & Beetsma, R.M.W.J. (2015). Mandatory Participation in Occupational Pension
Schemes in the Netherlands and Other Countries. An Update. (Netspar Discussion Paper, no
10/2015-032). Netspar.
Chen, D.H.J., Beetsma, R.M.W.J. & Broeders, D.W.G.A. (2015). Stability of participation in
collective pension schemes: an option pricing approach. (Netspar Discussion Paper, no DP
09/2015-029). Netspar.
Chen, D.H.J., Beetsma, R.M.W.J. & Broeders, D.W.G.A. (2015). Stability of Participation in
Collective Pension Schemes: An Option Pricing Approach. (De Nederlandsche Bank Working
Paper, no 484). De Nederlandsche Bank.
Chen, D.H.J. (2015). Voluntary Participation in a Defined Benefit Pension Scheme: An Option
Pricing Approach. (Netspar Discussion Paper, no 11/2015-042). Netspar.
Ciurila, N. & Romp, W.E. (2015). The Political Arrangement of Pay-as-You-Go Pension Systems in
the Presence of Financial and Demographic Shocks. Netspar Discussion Paper.
Gottfries, A. & Teulings, C.N. (2015). What does the data say about wage setting and job search?
Working paper.
Hommes, C., Lustenhouwer, J.E. & Mavromatis, K. (2015). Fiscal Consolidations and Heterogeneous
Expectations. Mimeo.
Klaassen, F. & Teulings, R. (2015). Untangling Fixed Effects and Constant Regressors. (Tinbergen
Institute discussion paper, no 15-137/VI). Amsterdam: Tinbergen Institute.
Mavromatis, K. (2015). Finite Horizons and the Monetary/Fiscal policy mix. Mimeo.
Teulings, C.N., Ossokina, I.V. & Groot, H.L.F. de (2014). Welfare benefits of agglomeration and
worker heterogenity. (Tinbergen Institute Discussion Papers, no 2014-101/VI).
Amsterdam/Rotterdam: Tinbergen Institute.
Veestraeten, D. (2015). Integral representations for products of two parabolic cylinder functions with
different arguments and orders. Ithaca, NY: arXiv.org.
Veestraeten, D. (2015). Some integral representations and limits for (products of) the parabolic
cylinder function. Amsterdam: University of Amsterdam.
59
Ewijk, C. van, Hoen, A. 't, Doorbosch, R.., Reininga, T., Geurts, B., Visser, E., Bongers, A., Winden,
P. van, Jonker, J.-J., Elsenburg, W., Mink, M., Huizinga, F., Aalbers, R., Vollebergh, H.,
Renes, G., Dietz, F., Zeeuw, A. de, Jong, F. de, Koopmans, C. & Pomp, M. (2015). Rapport
Werkgroep Discontovoet 2015. Den Haag: Ministerie van Financiën.
Book review – professional
Boumans, M.J. (2015). [Review of the book: Finding equilibrium: Arrow, Debreu, McKenzie and the
problem of scientific credit]. History of Economic Ideas, 23(1), 192-195.
Beetsma, R. (2015). Organizer of the Venice Summer Institute workshop on Rethinking the Need for
a Fiscal Union in the Eurozone, July 25-26, San Servolo, Venice, Italy.
Recognition
Beetsma (2015). MN Chair in Pension Economics, sponsored professorship.
Van der Kwaak, C.G.F., S.J.G. van Wijnbergen (2013). NWO MAGW Research talent scholarship
(nr. 406-13-063, budget 150,000 Euro plus) for PhD project titled: "Alternative Fiscal and
Monetary Policies under Financial Fragility and Sovereign Default Risk".
Van Ewijk, C. (2015). Professor by special appointment (“Bijzonder hoogleraar”) on behalf of
Instituut Gak, from July 1, 2015 at Tilburg University.
Media appearance
Beetsma, R. (2015), interview, Radio 1, February 3, 2015.
Beetsma, R. (2015), interview, Radio 1 (BNN/VARA), February 17, 2015.
Beetsma, R. (2015), interview, Radio 1 (EO), February 20, 2015.
Beetsma, R. (2015), interview, BNR Nieuwsradio, March 23, 2015.
Beetsma, R. (2015), interview, Radio 1, June 8, 2015.
Beetsma, R. (2015), interview, Radio Rijnmond, June 22, 2015.
Beetsma, R. (2015), interview, BNR Nieuwsradio, June 23, 2015.
Beetsma, R. (2015), interview, BNR Nieuwsradio, July 1, 2015.
Beetsma, R. (2015), interview, Radio Rijnmond, July 6, 2015.
Beetsma, R. (2015), interview, BNR Nieuwsradio, July 6, 2015.
Beetsma, R. (2015), member of economist panel, BNR Nieuwsradio, August 26, 2015.
Klaassen, F. (2015). Interview ‘The Power of Statistics’, CNN, 19/02/2015.
Klaassen, F. (2015). Interview ‘Wetenschapsnieuws: tennismythes’, Radio 1, 02/07/2015.
Lorié, J. (2015). “Asian Markets: A look ahead to 2016”, Bloomberg TV, November 20th.
Lorié, J. (2015). “The likelihood of a FED rate hike’, Channel News Asia, November 18th.
Lorié, J. (2015). “Impact of FED rate hike on South East Asia”, BBC TV, March 19th.
Lorié, J. (2015). “Which countries are most vulnerable to a Chinese slowdown”, Bloomberg TV,
March 17th .
Westerhout, E. (2015). Interview Meerwaarde intergenerationele solidariteit overschat, Frank van
Alphen, Pensioen Pro, 2 October 2015.
Westerhout, E. (2015). Interview Effect op arbeidsmarkt van afschaffing doorsneesystematiek
onderbelicht, Frank van Alphen, Pensioen Pro, 8 October 2015.
60
Giuliodori (2015, October). “Domestic and Cross-Border Auction Cycle Effects of Sovereign Bond
Issuance in the Euro Area”, IMF Seminar, Washington, US.
Giuliodori (2015, April). “The Confidence Effects of Fiscal Consolidations,” Seminar at NIPE,
University of Minho, Portugal.
Giuliodori (2015, May). “Price Effects of Sovereign Debt Auctions in the Eurozone: The Role of the
Crisis”, Money, Macro and Finance Research Group (MMF) and hosted by the Centre for
Empirical Finance at Brunel University London, UK.
Klaassen, F. (2015). Discussion of “A theory of trade in a global production network” by M. Bosker
and B. Westbrock, Panel data international trade workshop, Amsterdam.
Lorié, J. (2015). “Global economic outlook”, ICISA, The Hague, September.
Lorié, J. (2015). “Ten Global Economic Game Changers for the Future”, PAN-European FECMA
Credit Management Congress, Brussel, May.
Lorié, J. (2015). “Global Economic Outlook: Asia leading the way”, Hong Kong, March.
Lorié, J. (2015). “Global Economic Outlook: Asia leading the way”, Singapore, March.
Lorié, J. (2015). “Global Economic Outlook: Traversing Turbulent Waters, Singapore, November.
Mavromatis, K. (2015). Tinbergen Institute (26th October, 2015). I was invited by professor Cars
Hommes to present at the behavioural Macroeconomics workshop hosted at Tinbergen
Institute.
Mavromatis, K. (2015). University of Bath, England (27th May, 2015). I was invited by the
department of Economics of the University of Bath to present my working paper coauthored
with Cars Hommes and Joep Lustenhouwer, titled ‘Heterogeneous Expectations and Fiscal
Consolidations.
Mavromatis, K. (2015). Deutsche Bundesbank (20th March, 2015). I was invited by the economic
research department of the Deutsche Bundesbank to present my working paper coauthored
with Cars Hommes and Joep Lustenhouwer, titled ‘Heterogeneous Expectations and Fiscal
Consolidations.
Stoltenberg, C.A. (2015). “On Positive Value of Information”, Research Seminar, University of
Hamburg.
Stoltenberg, C.A. (2015). discussion of “Monetary Policy and the Redistribution Channel” by Adrien
Auclert, Annual Research Conference, Dutch National Bank.
Stoltenberg, C.A. (2015). “On Positive Value of Information”, European Monetary Forum, Erasmus
University Rotterdam.
Teulings, R.M. (2015, 16 October). Untangling Fixed Effects and Constant Regressors. UvA
Econometrics Panel Data Workshop, Amsterdam.
Van der Kwaak, C.G.F. (2015). "Financial Fragility and Unconventional Central Bank Lending
Operations". Talk in Rotterdam Brown Bag Series (November 11).
Operations", Dutch Economists Day (November 6).
Operations" TI Workshop Macro and International Economics Group (October 29).
Operations", Tilburg PhD Seminar Series (October 22).
Van Ewijk, C. (2015). Pension Reform in the Netherlands, ICPM Conference, Helsinki, October 5.
Van Ewijk, C. (2015). Funded pensions in Europe, Mopact Forum, Talinn, April 28.
Westerhout, E. (2015). Mandatory Pension Saving in a Life-Cycle Perspective, discussant to Torben
Andersen, PeRCent Annual Conference, Copenhagen, 16 juni 2015.
Other lectures
Beetsma, R. (2015, 29 April). Discussant of Gilles Mourre “The second generation of fiscal rules: too
complex to work?” at IMF Workshop “The Future of Rules-Based Fiscal Policy”, Brussels.
Beetsma, R. (2015, 6 November). Presentation of “Domestic and cross-border auction cycle effects of
sovereign bond issuance in the Euro Area”, European University Institute, Florence.
61
Clymo, A. (2015). “Growth and Business Cycle Effects of Future Financial Crises” at the Midwest
Macro Spring 2015 (Washington University in St Louis).
Clymo, A. (2015). “Growth and Business Cycle Effects of Future Financial Crises” at the TransAtlantic Doctoral Conference (LBS).
Clymo, A. (2015). “Growth and Business Cycle Effects of Future Financial Crises” at the Belgrade
Young Economists Conference (Belgrade University).
Clymo, A. (2015). “Growth and Business Cycle Effects of Future Financial Crises” at the
Econometric Society World Congress (Montreal).
Clymo, A. (2015). “Real Wages and the Manifestation of Financial Crises” at the Econometric
Society European Winter Meeting (Bocconi).
Clymo, A. (2015). “Optimal Policy with Limited-Time Commitment” (joint with Andrea Lanteri) at
the Bank of England.
Mavromatis, K. (2015). Dynare Conference, Brussels (28th September, 2015). I presented at the
Dynare Conference hosted by the National Bank of Belgium my paper working paper
coauthored with Cars Hommes and Joep Lustenhouwer, titled ‘Heterogeneous Expectations
and Fiscal Consolidations.
Van Ewijk, C. (2015). Pensions and economic performance, Mopact Workshop, Talinn, April 27.
Van Ewijk, C. (2015). Several lectures on pensions at professional conferences in the Netherlands.
Vos, S.J. (2015, February 11). Solvency Capital Requirements in theory and practice. Lecture in
‘Caput Pensioenfinancering’, Actuarial Science Master Course (host: prof. Rob Kaas),
University of Amsterdam, Amsterdam, Netherlands.
Vos, S.J. (2015, February 18). Valuation of conditional elements of pension arrangements. Lecture in
‘Caput Pensioenfinancering’, Actuarial Science Master Course (host: prof. Rob Kaas),
University of Amsterdam, Amsterdam, Netherlands.
Vos, S.J. (2015, November 9). Financial Management of Pension Funds. Lecture in ‘Actuarial
Science of Pensions’, Actuarial Science Master Course (host: dr. Tim Boonen), University of
Amsterdam, Amsterdam, Netherlands.
Westerhout, E. (2015). Herverdeling door pensioenen, college bij Certified Pensioen Executive,
Erasmus Universiteit Rotterdam, 27 mei 2015.
Beetsma, R. (2015). Research Fellow, CEPR.
Beetsma, R. (2015). Research Fellow, CESifo.
Beetsma, R. (2015). International Research Fellow, Kiel Institute of World Economics.
Beetsma, R. (2015). Research Fellow, Tinbergen Institute.
Beetsma, R. (2015). Fellow, Netspar.
Beetsma, R. (2015). Member of PhD committee Servaes van Bilsen, Tilburg University, November 4.
Clymo, A. (2015). Candidate Research Fellow, Tinbergen Institute.
Giuliodori, M. (2015). Tinbergen Institute Research Fellow.
Giuliodori (2015). External PhD examiner. “Essays on Macroeconomics” by Luca Metelli
(supervisor: Dr. Ethan Ilzetzki), London School of Economics, November.
Klaassen, F. (2015). Tinbergen Institute Research Fellow.
Romp, W.E. (2015). Tinbergen Institute Research Fellow.
Romp, W.E. (2015). Netspar Research Fellow.
Stoltenberg, C.A. (2015). Tinbergen Institute Research Fellow.
Van Ewijk, C. (2015). Member Steering Committee Mopact.
Van Ewijk, C. (2015). Editor De Economist.
Van Ewijk, C. (2015). PhD Committee, Pieter Bakx, "Financial incentives in long term care".
Erasmus University, May 1, 2015.
Veestraeten, D. (2015). Tinbergen Institute Candidate Research Fellow.
Vos, S.J. (2015). Netspar Research Fellow.
Westerhout, E. (2015). Columnist at Rostra Economica, 2014-2015 and 2015-2016.
62
Relevant position
Beetsma, R. (2015). Referee for Quarterly Journal of Economics, Economic Journal, Review of
Economics and Statistics, Scandinavian Journal of Economics, Journal of International
Money and Finance, Oxford Economic Papers, Journal of International Economics,
European Journal of Political Economy, Economics Letters, Macroeconomic Dynamics.
Giuliodori, M. (2015). Referee for Economic Modelling, Journal of Macroeconomics, Journal of
Banking and Finance, European Journal of Political Economic, Journal of International
Money and Finance.
Giuliodori (2015). Consultant for ILO, Switzerland (October-December).
Houben, A. (2015). Member of the Markets Committee, Bank of International Settlements, Basel.
Houben, A. (2015). Member of the Global Committee on the Financial System, BIS, Basel.
Houben, A. (2015). Member of the Financial Stability Committee, ECB, Frankfurt.
Houben, A. (2015). Chairman of the Macroprudential Policy Group of the FSC-ESB, Frankfurt.
Houben, A. (2015). Member of the Advisory Technical Committee of the European Systemic Risk
Board (ESRB), Frankfurt.
Houben, A. (2015). Chairman of the Instruments Working Group (ESRB), Frankfurt.
Klaassen, F. (2015). Referee for Journal of Quantitative Analysis of Sports.
Mavromatis, K. (2015). Referee for Journal of International Money and Finance, Journal of
Economic Dynamics and Control, Journal of Macroeconomics, German Economic Review,
International Journal of Finance and Economics, International Journal of Central Banking.
Romp, W.E. (2015). Referee for Journal of Pension Economics and Finance, Scandinavian Actuarial
Journal, De Economist.
Stoltenberg, C.A. (2015). referee for Economic Journal.
Van Ewijk, C. (2015). Advisory Member on Pensions for Social Economic Council (SER).
Van Ewijk, C. (2015). Chairman Working Group on Discounting for MCBA, Ministry of Finance
(Werkgroep Discontovoet 2015).
Van Ewijk, C. (2015). Academic Partner, CPB Netherlands Bureau for Economic Policy Analysis.
Veestraeten, D. (2015). Referee for Journal of International Economics, Journal of Monetary
Economics, Integral Transforms and Special Functions (2x).
Vos, S.J. (2015, 4 march). Actuariaatcongres 2015, Member of Commissie van Repliek.
Westerhout, E. (2015). Reviewer of Macroeconomics, textbook by Daron Acemoglu, David Laibson
and John List, published by Pearson.
Westerhout, E. (2015). Reviewer of MyEconLab—Pearson's online homework, tutorial, and
assessment program accompanying the Macroeconomics textbook.
Westerhout, E. (2015). reviewer of both Microeconomics and Macroeconomics, textbook by Daron
Acemoglu, David Laibson and John List, published by Pearson, European edition.
Zouain Pedroni, M. (2015).
Referee for International Economic Review, Quantitative
Macroeconomics, Review of Economic Dynamics.
63
10. HUMAN CAPITAL
Subprogrammes:
Programme director:
METIS code:
JEL-classification:
Starting date:
Website:
TIER, AIID, ACAM
Prof. dr. E. Plug
uva/feb/ase/hum
I, J, L
2001
www.aseri.uva.nl/hum
Name
Albrecht, S.
Buser, T.
Booij, A.S.
Geijtenbeek, L.
Hartog, J.
Ketel, N.
Oosterbeek, H.
Peter, N.
Peter, N.
Plug, E.J.S.
Praag, B.M.S. van
Welie, E.A.A.M. van
Ziegler, L.
Subprogramme TIER
Booij, A.S.
Booij, A.S.
Cornelisse, I.
Haan, F. de
Hidalgo, D.
Linde, J.
Maassen van den Brink, H.
Ruijs, N.
Ruijs, N.
Subprogramme AIID
Gaag, J. van der
Gaag, J. van der
Lammers, J.
Pradhan, M.P.
Pradhan, M.P.
Total all flows of funds
PhD students
Title
msc
dr.
dr
msc
prof. dr.
msc
prof. dr.
msc
msc
dr.
prof. dr.
dr.
msc
Function
phd
oz
ud
phd
guest
guest
hgl
guest
phd
hgl
guest
guest
phd
Total
2013
0,47
0,67
0,00
0,68
0,42
0,65
0,00
0,00
0,13
Total
2014
0,17
0,42
0,00
0,00
0,62
0,00
0,20
0,60
0,00
0,40
Total
2015
0,80
0,03
0,53
0,00
0,00
0,50
0,00
0,50
0,00
0,40
Funding
1
1
1
1
1
1
1
1
1
1
1
1
1
dr
dr
dr
msc
drs
dr
prof. dr.
msc
dr
oz
ud
oz
phd
phd
oz
hgl
phd
guest
0,12
0,70
0,78
0,63
0,53
0,74
-
0,80
0,42
0,40
0,53
0,43
0,00
0,53
0,53
-
1
2
2
2
2
2
2
2
1
prof. dr.
prof. dr.
dr
prof. dr.
prof. dr.
hgl
guest
oz
hgl
hgl
0,05
0,00
0,19
3,33
3,38
0,05
0,59
6,76
2,74
0,00
0,25
2,66
2,58
0,00
0,64
5,24
2,02
0,15
0,20
2,91
1,06
0,20
1,18
4,17
1,73
3
1
3
1
3
64
Objective
The programme is an empirically driven research programme which relies on microeconometric
techniques to study important microeconomic issues in the areas of labour economics, economics of
education, family economics, health economics and development economics. Particular emphasis is
paid to the identification of causal mechanisms, the analysis of existing policies and policy changes
on a variety of microeconomic outcomes, and the design and implementation of experiments to
carefully to test predictions of microeconomic/behavioral theories and regularities evaluate policy
interventions and their microeconomic consequences.
Motivation
Microeconomic models play an important role in understanding individual behavior in many
economic areas; that is, predictions taken from microeconomic theories are often used to explain and
understand individual economic circumstances, how differences between individuals can possibly
account for differences in economic outcomes, and to what extent policies can influence individual
economic circumstances. But predictions are not easily verified and possibly false, with huge
consequences for (the development of) microeconomic theory, policy and policy design. It is therefore
crucial to test predictions of individual economic behavior with careful empirical work, using the
most rigorous methods in applied microeconometrics.
Themes
Labour economics
The human capital group is originally a labour orientated economics programme which investigates
various aspects of labour economics, including the determinants of labour supply and demand,
personnel economics, distribution of income, labour market policies, the intersection between labour
markets and demographics. Over the years, however, the labour economics programme has expanded
and today it is less clear what is exactly covered by labour economics and what is not. There is
substantial overlap with the other themes in the human capital group.
The labour economic topics that are currently addressed in the human capital group include the
genetic and environmental origins of economic inequality (Erik Plug, Lennart Ziegler), fertility and
labour supply (Erik Plug), the labour market behaviour of sexual minorities (Lydia Geijtenbeek,
Thomas Buser, Erik Plug), discrimination in the housing social networks and labour market outcomes
(Erik Plug, Lennart Ziegler), teacher productivity, labor supply and large wage gains (Menno
Pradhan).
Economics of Education
The economics of education programme is the most active and prominent research area. In it, we
study a variety of aspects of the intersection between economics and education: human capital
formation, human capital returns, school choice, education and markets, inputs and education
production, evaluations of education reforms.
Recent educational topics analyzed in the human capital group include the long-term consequences of
class size, and why does it work (Hessel Oosterbeek), the role of school size and school competition
(Hessel Oosterbeek), peers and the education production function (Hessel Oosterbeek, Adam Booij),
returns to medical school (Nadine Ketel, Hessel Oosterbeek), matching primary school students to
secondary schools (Hessel Oosterbeek), information, overconfidence and student achievement (Adam
Booij), the consequences of contextual shifts in math education (Diane Hidalgo and Ferry Haan),
teacher quality and student achievement (Erik Plug), the effectiveness of excellent programmes in
secondary education (Adam Booij, Ferry Haan and Erik Plug), the consequences of Montessori
education (Nienke Ruijsch), competitiveness and school choice (Hessel Oosterbeek), drop outs in
65
lower secondary eduation (Henriette Maassen van den Brink), student compensation, school resources
and student achievement (Noemi Peter), education and cancer risk (Erik Plug).
Family economics
The family economics programme covers empirical research on the economic behaviour of families,
including labour supply and other related sources of time use, family formation and dissolution,
fertility and child investment decisions, and intergenerational mobility of economic outcomes. The
recent availability of large administrative data sources combined with family driven identification
strategies (relying on twins, siblings and adoptees) has spurred family research considerably.
Current examples include the origins of gender differences in education (Hessel Oosterbeek, Thomas
Buser), gender roles in twins (Noemi Peter), competitiveness and sexual orientation (Thomas Buser,
Lydia Geijtenbeek, Erik Plug), fertility, labour supply and marital stability (Erik Plug), assortative
mating in dating markets (Erik Plug), parental investments and children (Thomas Buser, Hessel
Oosterbeek, Erik Plug), the heritability of cancer (Erik Plug), discrimination against sexual minorities
in the housing market (Erik Plug and Lydia Geijtenbeek).
Development economics
The development economics programme focuses on microeconomic issues in low income countries.
In particular, the programme tries to uncover the micro-economic causes of poverty and to provide the
means and tools to alleviate it.
Recent issues addressed include the evaluation of a variety of school interventions on student
outcomes including the introduction of child care centers (Hessel Oosterbeek), the consequences of a
cash transfer programme change on a variety of child and adult outcomes (Hessel Oosterbeek, Erik
Plug, Thomas Buser), the impact of public health spending (Menno Pradhan), teacher pay and student
performance (Menno Pradhan), the evaluation of a preschool intervention in Indonesia (Menno
Pradhan).
Organization
Human Captital is an applied microeconometrics group, covering various themes of research, with
scope for individual research projects, internal and external joint work and cooperation and more
formal cooperations.
There are currently three more formally defined research groups: TIER, AIID and ACAM.
TIER (Top Institute for Evidence Based Education Research) is founded in 2008. It aims to contribute
to the improvement of the quality of education in the Netherlands by promoting the evidence based
approach as a guiding principle in education policy and practice. TIER has been funded through
NWO up to early 2015. TIER is currently funded through a large grant from the local municipality of
Amsterdam to study the linkage between local education and labor market. This grant will expire in
2020. Henriette Maassen van den Brink is the director of TIER Amsterdam and largely responsible
for attracting large external grants. Other TIER staff members include Ilja Cornelisze, Wim Groot and
Iryna Rud.
AIID (Amsterdam Institute for International Development) is a joint initiative of the University of
Amsterdam and the VU University Amsterdam. AIID is a multidisciplinary research network with a
strong focus on generating evidence to improve the design of policies to reduce poverty. Menno
Pradhan is one of the AIID researchers who examines aspects of human capital and health through
impact evaluations of sector-wide development programmes.
ACAM (Amsterdam Center of Applied Microeconometrics) is also a joint venture of the University of
Amsterdam and the VU University Amsterdam. ACAM is founded in 2015 and hosts excellent
researchers who are specialized in empirical research in labor economics, health economics, family
66
economics, the economics of education and development economics. These researchers all combine
academic rigor with policy relevance. Publications of ACAM researchers find their way into top
journals (AER, JPE, QJE, REStud). Collaboration between UvA and VU members shows through a
joint seminar series, joint PhD supervision (Nadine Ketel, Lennart Ziegler), and work-in-progress
meetings. ACAM researchers include Erik Plug, Hessel Oosterbeek, Adam Booij and Thomas Buser.
The three institutes (TIER, AIID and ACAM) share the same ambition to perform research at the
highest academic standards on issues with high societal relevance: education, labour, economic
development of poor nations.
The human capital group is a small-scale research programme. Three of our PhD students have
finished (or are about to finish) their PhD. Three have successfully entered the (international) job
market and already accepted offers from Gothenburg University (Nadine Ketel, tenure track),
University of Groningen (Noemi Peter, tenure track) and University of Amsterdam (Nienke Ruijsch,
postdoc).
The year 2015 did not deliver much published scientific output. Highlight this year is Menno Pradhan,
who managed to publish his paper in Plos One, which is the world’s first multidisciplinary Open
Access journals. Compared to previous years, we treat the reduction in output as an unfortunate
event, but not as a concern. This is just temporary. Publishing articles in international refereed (and
prestigious) journals takes quite some time. In a small research group, such as the HC group, it is
therefore only natural that in some years published output is low. Also the past publishing record of
human capital members has been outstanding with several articles published in A and AA level
journals. Moreover, there has sufficient scientific output that has been accepted but not published yet.
Examples include forthcoming articles in esteemed journals such as American Economic Journal:
Applied Economics, Economic Journal, Journal of Human Resources, World Bank Economic Review.
The human capital group provides a stimulating research environment. This environment is partially
shaped through national and international connections, external seminar series, internal work-inprogress meetings, and international visitors. Human capital members have close research contacts
with researchers at ASE, Free University Amsterdam and Tinbergen Institute, work together with
researchers from Europe and US, and are regularly invited to give seminars and (keynote) speeches
throughout the world. Members of the human capital group organize a successful weekly seminar
series at Tinbergen Institute. The seminar series is internationally renowned, and, in 2015, included
presentations of Barbara Petrongolo (Queen Mary), Andrew Shepard (UPenn), Mark Rosenzweig
(Yale), Jerome Adda (Bocconi) and Andrea Weber (Mannheim). Members of the human capital group
(including senior researchers, PhD students and visitors) also come together weekly to discuss their
work in various stages.
The human capital group attracts and delivers many good PhD students. Our PhD students are
generally doing well in terms of performance and placements (at among others University of
Mannheim, Gothenburg University, University of Oslo and Purdue University). One of our PhD
students (Thomas Buser) received various prestigious prizes, including Christian Huygens Science
Award (for offering the most innovative contribution to economics as a science). In 2015, there are 6
PhD students working at the human capital group.
Apart from scientific relevance, the human capital group offers high quality teaching in the bachelor,
master and research master programmes. The courses taught by human capital members include
applied econometrics, labour economics, the economics of education, development economics, impact
evaluation. This years highlight includes the exceptional performance of Adam Booij, who has been
awarded the Van der Schroef Award 2015 for being the best lecturer at ASE.
67
The work of human capital members also addresses practical policy issues with societal relevance. In
addition, most research is empirically orientated and can be formulated such that it is relatively easy
to comprehend for policy makers. Members of the human capital group are in close contact with the
Ministry of Education, Culture and Science and regularly come together to communicate their
scientific work with insights and recommendations. Members are also frequently invited to consult on
a variety of governmental policy issues. Henriette Maasen van den Brink is member of the
Amsterdam Economic Board which strives to stimulate and support sustainable collaboration,
innovation and growth in the Amsterdam region, and strengthen international competitiveness.
Henriette Maassen van den Brink has also been appointed chair of the Education Council
(Onderwijsraad) which is an independent governmental advisory board that advises the ministers,
parliament and local authorities. Hessel Oosterbeek is advising the municipalities of Amsterdam and
Utrecht on how to re-organize school assignment procedures. Erik Plug is the president of the
European Society of Population Economics, which is an association of about 650 scientists working in
field of population economics (or related to population economics).
In sum, the human capital group experienced a good year in terms of academic output. While small,
the group’s interests and scientific methods are internally coherent and clear; that is, the human
capital research programme covers mainstream topics in applied microeconomics (including the
economics of education, family and demographic economics, health economics, labor economics and
development economics) with a strong focus on microeconometrics.
In previous years there have been serious concerns about group size and structure. In particular, the
group (excluding TIER members) has been an unbalanced research group with only 6 PhD students, 1
PostDoc/Assistant Professor, and 3 Full Professors; a viable and serious research programme requires
at least one or two tenured assistant/associate professor positions. The unbalancedness has been
recognized. In 2015 Adam Booij has been promoted to a tenured Assistant Professor. And as of 2016,
Pauline Rossi from Paris School of Economics will join us on a tenure-track Assistant Professor
position as an empirically orientated microeconomist in the area of development economics.
To further maintain the high level of research in future years, our aim is to intensify our collaboration
with the labour economics group are Free University, which research programme closely relates to
ours.
This evaluation can be summarized in the following SWOT analysis:
Strengths: high quality research addressing issues of societal relevance; stimulating research
environment; good reputation; healthy inflow and outflow of PhD students; successful history in
attracting external funds (TIER); internal coherent and visible research theme.
Weaknesses: unbalanced research staff; largely dependent on external funding.
Opportunities: we have successfully sought closer collaboration with labour economics group at
Free University Amsterdam (ACAM); we have successfully attracted a development economist for a
tenure track position in 2016.
Threats: economics as a science has evolved in a more empirically orientated field of science; this is
why most (serious) economic departments offer a more empirically orientated curriculum to
economics students and have sizable groups of empirically orientated microeconomists. In our
department, the increasing empirical importance is not reflected in our curriculum, where we as a
small-scale research programme are practically invisible.
68
TIER-research is currently funded by the local municipality of Amsterdam. Over a period of 5 years
(2015-2020) TIER will receive €5.3 million. Two PhD students (Nadine Ketel and Lennart Ziegler)
are been cofinanced with Free University Amsterdam (VU). Two PhD students (Nadine Ketel and
Sabina Albrecht) have received NWO talent grants. Several visiting researchers participate in the
programme, without financial compensation. AIID also receives substantial external funding.
10.5 OUTPUT
Key publications
Buser T., M. Niederle & H. Oosterbeek. Gender, Competitiveness and career choices (2014).
Quarterly Journal of Economics, 129, 1409-1447.
De Haan, M., E. Plug & J. Rosero (2014). Birth order and human capital development: Evidence
from Ecuador. Journal of Human Resources. 49, 359-392.
Plug, E., D. Webbink & N. Martin (2014). Sexual orientation, prejudice and segregation. Journal of
Labor Econonomics, 32, 123-159
Pradhan, M., D. Suryadarma, A. Beatty, M. Wong, A. Gaduh, A. Alishjabana & R.P. Artha. (2014)
Improving educational quality through enhancing community participation : results from a
randomized field experiment in Indonesia. American Economic Journal, Applied Economics,
6, 105-126.
Forthcoming
Cabus, S.J., Groot, W. & Maassen van den Brink, H. The short-run causal effect of tumor detection
and treatment on psychosocial well-being, work and income. European Journal of Health
Economics.
Output type
Classification
#
Refereed
5
Non-refereed
0
Professional
1
Popular
0
Refereed
1
Non-refereed
0
Professional
0
Popular
0
0
PhD theses
1
Working papers
7
Ariës, R.J., Groot, W. & Maassen van den Brink, H. (2015). Improving reasoning skills in secondary
history education by working memory training. British Educational Research Journal, 41 (2),
210-228.
69
Bartelet, D., Ghysels, J., Groot, W.J.N., Haelermans, C. & Maassen van den Brink, H. (2015). The
Differential Effect of Basic Mathematics Skills Homework via a Web-Based Intelligent
Tutoring System across Achievement Subgroups and Mathematics Domains - A Randomized
Field Experiment. Journal of Educational Psychology, 3 (107).
Haan, T. de, Offerman, T. & Sloof, R. (2015). Money talks? An experimental investigation of cheap
talk and burned money. International Economic Review, 56 (4), 1385-1426.
Hartog, J. & Diaz-Serrano, L. (2015). Why do we ignore the risk in schooling decisions? De
Economist, 163 (2), 125-153.
Heers, M., Ghysels, J., Groot, W. & Maassen van den Brink, H. (2015). Differentiated effects of
community schooling on cognitive and social-emotional learning outcomes. School
Effectiveness and School Improvement, 26 (3), 354-381.
Hartog, J. (2015). De ontwikkeling van rendement op scholing 1962-2012. Economisch-Statistische
Berichten, 100 (4711), 340-343.
Praag, B.M.S. van (2015, Mei 06). Desastreus beleid voor pensioenen. NRC Handelsblad, pp. 17.
Praag, B.M.S. van (2015, Juli 29). Lagere belasting is slecht plan. NRC Handelsblad, pp. 17.
Internet article – professional
Hartog, J. & Leeflang, P. (2015). Hoe we de kloof kunnen dichten tussen vraag en aanbod in
economisch onderzoek. (overig). MeJudice. (available: 08 dec 2015).
Zorlu, A. & Hartog, J. (2015). Ethnic heterogeneity at neighbourhood level in the Netherlands. In P.
Nijkamp, J. Poot & J. Bakens (Eds.), The economics of cultural diversity (pp. 214-232).
Cheltenham: Elgar.
UvA dissertation – internally
Ruijs, N.M. (2015, Februari 06). Empirical studies in the economics of education. Universiteit van
Amsterdam (166 pag.) (Amsterdam: TIER). Prom./coprom.: prof.dr. H. Maassen van den
Brink & prof.dr. H. Oosterbeek.
Buser, T., Geijtenbeek, L. & Plug, E.J.S. (2015). Do gays shy away from competition? Do lesbians
compete too much? (IZA Discussion Paper, no 9382). Bonn: IZA.
Cabus, S., Witte, K. de, Groot, W.J.N. & Maassen van den Brink, H. (2015). Towards a New
Conceptual Model for School Dropout and its Prevention. (TIER Working Paper). :
Universiteit Maastricht/Universiteit van Amsterdam.
Geijtenbeek, L. & Plug, E.J.S. (2015). Is There a Penalty for Becoming a Woman? Is There a
Premium for Becoming a Man? Evidence from a Sample of Transsexual Workers. (IZA
Discussion Paper, no 9077). Bonn: IZA.
Plug, E.J.S., Klaauw, B. van der & Ziegler, L. (2015). Do Parental Networks Pay Off? Linking
Children's Labor-market Outcomes to their Parents' Friends. (IZA Discussion Paper, no
9074). Bonn: IZA.
Praag, B.M.S. van (2015). A new view on panel econometrics. Is probit feasible after all? Amsterdam:
70
Hartog, J. & Raposo, P. (2015). Are Starting Wages Reduced by an Insurance Premium for
Preventing Wage Decline? Testing the Prediction of Harris and Holmstrom (1982). (IZA
Discussion Papers, no 9578). Bonn: IZA.
Schweri, J. & Hartog, J. (2015). Do Wage Expectations Influence the Decision to Enroll in Nursing
College? (IZA Discussion Paper, no 9120). Bonn: IZA.
Editorship
Hartog, J. (Ed.). (1996-) European Economic Review.
Hartog, J. (Ed.). (1996-) Journal of Pay and Reward Management.
Hartog, J. (Ed.). (1996-) Labour Economics.
71
11. EXPERIMENTAL & POLITICAL ECONOMICS (CREED)
Programme Director
METIS-code:
JEL-classification:
Starting date:
Websites:
Prof. dr. A.J.H.C. Schram
uva/feb/ase/epe
D7, D8
1991
www.aseri.uva.nl/epe
www.creedexperiment.nl/creed
Name
Bault, N.G.J.
Dogan, G.
Gago Guerriero de Brito
Robalo, P.M.
Gneezy, U.
Gneezy, U.
Gomez Martinez, F.
He, S.
Hoyer, M.
Hu, A.
Jagau, S.
Kamm, A.
Kiss, A.
Kopányi-Peuker, A.
Leeuwen, B. van
Loerakker, B.
Offerman, T.J.S.
Onderstal, A.M.
Rilovic, A.
Schram, A.J.H.C.
Smerdon, D.
Sonnemans, J.
Ule, A.
Veelen, C.M. van
Veelen, C.M. van
Veldhuizen, R.R. van
Weber, M.
Weele, J. van der
Weele, J. van der
Winden, F.A.A.M. van
Woerner, A.
Yang, Y.
Zheng, J.
Title
dr.
dr.
Function
guest
ud
Total
2013
0,00
0,43
Total
2014
0,00
0,48
Total
2015
0,00
0,13
Funding
1
1
msc
prof. dr.
prof. dr.
msc
msc
msc
dr.
msc
msc
dr.
msc
msc
msc
prof. dr.
dr.
msc
prof. dr.
msc
prof. dr.
dr.
dr.
prof. dr.
dr.
msc
dr.
dr.
prof. dr.
msc
msc
msc
phd
guest
hgl
phd
phd
phd
oz
phd
phd
ud
phd
phd
phd
hgl
ud
phd
hgl
phd
hgl
ud
uhd
hgl
guest
phd
postdoc
ud
hgl
phd
phd
phd
0,80
0,00
0,27
0,27
0,80
0,08
0,80
0,55
0,80
0,80
0,50
0,20
0,50
0,27
0,50
0,25
0,50
0,00
0,80
0,27
0,16
0,56
0,27
0,20
0,80
0,80
0,80
0,80
0,80
0,80
0,53
0,80
0,50
0,20
0,27
0,50
0,60
0,50
0,25
0,50
0,80
0,80
0,11
0,09
0,80
0,20
0,80
0,80
0,53
0,80
0,27
0,53
0,17
0,45
0,60
0,50
0,20
0,80
0,40
0,80
0,50
0,13
0,50
0,40
0,53
0,17
0,07
0,27
0,80
1
1
1
1
1
1
2
1
1
1
2
1
1
1
1
1
1
1
1
1
1
1
1
2
1
1
1
1
1
1
72
PhD students
Total
2013
8,95
1,43
0,00
3,31
10,38
6,99
Total
2014
10,33
2,40
0,00
4,84
12,73
7,89
Total
2015
9,70
1,65
0,00
3,50
11,35
7,05
Objective
Improving the understanding of the behavioural determinants and consequences of economic decision
making by (a) focusing on political economic issues, (b) allowing for bounded rationality, and (c)
using laboratory experimentation as research method.
Motivation
Political decision making plays an important role in economies. Governments, for example, are
essential for the functioning of markets, may be called upon to correct for market failures, but also
have their own dynamics. Positive welfare effects of policies cannot be taken for granted. It is,
therefore, important to study political decision making and the way in which policies can be applied
beneficially. These observations provide the motivation for the first project: “Economics of political
decision making”, a long standing project at the FEB dating back to 1983. It is related to public choice
and the more recent upsurge in political economics.
Economic models, also when concerned with political decision making, typically make strong
assumptions about the rationality, sophistication, and selfishness of individual behaviour.
Experimental and other empirical evidence suggests, however, that the predictive power of the
standard ‘homo economicus’ model is often disappointing and depends on the institutional character
of the decision making environment. There is a need for greater knowledge and a more satisfactory
treatment of the bounds on rationality generated by the nature of cognition and emotion, and the
influence of institutions. This motivates the second project: “Bounded rationality and institutions”,
which fits into the emerging field of behavioural economics.
For the advancement of theory, empirical feedback is crucial. This may hold in particular for new
research areas, when sorting out the most promising ways to go. Empirical analysis is seen as an
important ingredient of this programme. For many of the issues studied in the aforementioned two
projects, however, adequate field data are hard to come by or even nonexistent. Laboratory
experimentation is a helpful complementary research method, especially in these cases, for
exploration or the testing of models focusing on fundamental behavioural aspects or mechanisms.
This motivates the third project: “Experimental economics”, which is stimulated by, and provides
feedback for, the other two projects.
Institutional embedding
The research of this programme is carried out within the Center for Research in Experimental
Economics and political Decision-making (CREED), a research institute of the FEB. CREED was
established in 1991 by a PIONIER-grant from the Netherlands Organisation for the Advancement of
Scientific Research (NWO) for the development of experimental economics in the Netherlands. An
important facility is the CREED-laboratory for experimental economics, one of the few dedicated
73
computer laboratories in Europe. Its focus on political decision making and experimental economics
distinguishes CREED internationally.
Projects
I Economics of political decision making
This project is concerned with the demand for and the endogenous supply of government policies, the
ways in which coordination takes place through the political decision-making process, and the effects
thereof on the economy. Major research topics are:



Political participation and influence (voting, activity and influence of interest groups);
Interaction between the public sector and the private sector (e.g. the development of
social capital and its importance for the provision of public goods);
Political economy of public and private institutions (e.g. issues of fiscal federalism).
II Bounded rationality and institutions
In this project fundamental aspects of individual decision making, with economic relevance, are
investigated. More particularly, attention is focused on the impact of cognitive limitations and
emotions. In addition, responses to the complexity and institutional characteristics of the decision
environment are studied. Among the topics investigated are:




Group formation in complex environments (e.g. development of political preferences
through social interaction, development of interest groups);
Economic significance and modelling of emotions (e.g. anger, anxiety, happiness);
Performance of various auction formats;
Irrationalities in risk attitudes, and efficiency gains by avoiding or reckoning with these.
III Experimental economics
The main purpose of laboratory experiments in economic research is to create a (political) economic
process in a laboratory environment which allows for sufficient control and accurate measurement.
Experiments are used for three purposes: (a) the testing of behavioural assumptions and predictions of
existing (competing) theories; (b) the searching for facts that are instrumental in the construction of
descriptive and explanatory theories; and (c) the evaluation of (new) institutions to assist policy
makers. Research in this project is particularly stimulated by, and provides feedback for, the
aforementioned two projects. Major lines of research are:






Voting and electoral competition (behaviour of voters and political candidates/parties);
Lobbying and political pressure (ways and means, and determinants of effectiveness);
Emotions and economic behaviour (impact, and modelling);
Markets and institutions (functioning of markets and, the design of, institutions);
Evolution of cooperation (development of cooperative behaviour over time);
Biases in risk attitudes.
2015 was a good year for CREED. We again witnessed a good set of high-level publications,
successful PhD defenses and we welcomed promising new members.
We welcomed seven new members to CREED in 2015. Shaul Shalvi (UHD) joined the
communication lab project together with his PhD student Margarita Lieb; Carsten de Dreu also joined
the communication lab project (20%). Maël Lebreton (Postdoc) switched the Business school for the
School of Economics; Stefan Jagua joined as a PhD-student (supervisors Offerman and van Veelen)
as did Junze Sun (supervisors Schram and Sloof) and Adreij Wormer (supervisors Schram and
74
Onderstal). In addition, Joël van der Weele changed his position from a postdoc (financed by the
Research Priority Area Behavioral Economics) to a tenure track position. Arthur Schram left this
summer for Florence (60%) but stays for 40% at CREED. Because of this the programme directorship
has passed from Arthur Schram to Joep Sonnemans.
In 2015 we had to say goodbye to Gönül Doğan who took the position of Junior Professor at the
University of Cologne, and to the PhD students Aaron Kamm (New York University Abu Dhabi),
Matthias Weber (Bank of Luthuania and lecturer at the Vilnius University) and Anita Kopányi-Peuker
(postdoc at CeNDEF).
2015 was a very good year in terms of research output. Four PhD theses were successfully defended
by graduate students (Boris van Leeuwen, Aaron Kamm, Matthias Weber and Anita Kopányi-Peuker).
A series of top-level publications ([18] published plus 10 accepted for publication) include articles in
the Proceedings of the National Academy of Sciences, Management Science, International Economic
Review and the Journal of Economic Theory.
External recognition of the research undertaken at CREED was received in various other ways as
well. These include 38 invitations to present seminars or keynote lectures, various associate
editorships and a continued membership of the Junior Academy of the Royal Netherlands Academy of
Arts and Sciences for Matthijs van Veelen.
Research contacts were continued, i.a., by a successful seminar series that included presentations by
renowned scholars such as Matthew Embrey, Martin Dufwenberg, Stefan Trautmann, Anna Dreber,
Zachary Grossman, David Cesarini, Dan Benjamin, Carsten de Dreu, Herve Moulin, Ingela Alger,
Pedro Rey-Biel, Gijs van der Kuilen, Mohammed Abdellaoui, Joshua Miller, Maja Adena, Holger
Herz, Roberto Galbiati, Drazen Prelec and Lise Vesterlund. CREED’s participation in the Cognitive
Science Center Amsterdam (CSCA) continued, as did our yearly PhD exchanges with the Universities
of Nottingham and East Anglia. These exchanges provide excellent opportunities for CREED PhD
students to present their work (at all stages of the project) to an audience consisting of PhD students
and world-renowned professors of the participating institutes. Finally, together with Jeroen van de
Ven, Arthur Schram organized a summer school on Experimental Economics.
Concerning funding, we are happy that Maël Lebreton received a Marie Curie grant and a VENI
grant, and that Shaul Shalvi took his ERC starting grant with him to CREED.
The programme again received modest funding from the research institute ASE-RI, which was largely
spent to cover (part of the) traveling costs to attend conferences. Additional means were obtained
from external funding and the Tinbergen Institute (for PhD-students).
Substantial additional means came from the UvA-Research Priority Area Behavioral Economics. This
provides a solid foundation for paying participants in experiments at the CREED laboratory. The
additional Central Research Priority funds (€301,000, yearly) for the communication lab will be used
for developing a communication lab and hiring a tenure tracker.
75
11.5 OUTPUT
Key publications
Andersen, S., S. Ertaç, U. Gneezy, M. Hoffman and J.A. List (2011). Stakes matter in the
ultimatumgame. American Economic Review, 101, 3427-3439.
De Dreu, Carsten K.W. , H. Steven Scholte, Frans A.A.M. van Winden, and K. Richard
Ridderinkhof (2015) Oxytocin Tempers Calculated Greed but not Impulsive Defense in
Predator-Prey Contests Social Cognitive and Affective Neuroscience 10, 721-728
Offerman, Theo and Ailko van der Veen (2015) How to subsidize contributions to public goods - Does
the frog jump out of the boiling water? European Economic Review 74, 98-108
Schram, Arthur and Gary Charness (2015) Social and Moral Norms in the Laboratory Management
Science 61, 1531 - 1546.
Veelen, M. van, García, J., Rand, D. & Nowak, M. (2012). Direct reciprocity in structured populations
Proceedings of the National Academy of Sciences 109, 9929-9934.
Forthcoming
Brunner, Christoph, Audrey Hu and Jörg Oechssler (forthcoming). Premium auctions and risk
preferences: An experimental study Games and Economic Behavior.
de Haan, Thomas, Theo Offerman and Randolph Sloof (forthcoming). Discrimination in the Labor
Market: the Curse of Competition between Workers Economic Journal.
Gino, F. & Shalvi, S. (in press). Editorial Overview: New Directions in the Study of Morality and
Ethics. Current Opinion in Psychology.
Gomez-Martinez, Francisco, Sander Onderstal, and Joep Sonnemans (2016). Firm-specific information
and explicit collusion in experimental oligopolies. European Economic Review 82, 132-141.
Grossman, Zachary and Joël J. van der Weele (forthcoming). Self-image and willful ignorance in social
decisions Journal of the European Economic Association.
Haan, T. de, Offerman, T.J.S. & Sloof, R. (in press). Discrimination in the labour market: the curse of
competition between workers. Economic Journal.
Kopányi-Peuker, Anita, Theo Offerman and Randolph Sloof (forthcoming). Fostering cooperation
through the enhancement of own vulnerability Games and Economic Behavior.
Nosenzo, Daniele, Theo Offerman, Martin Sefton and Ailko van der Veen (forthcoming). Discretionary
Sanctions and Rewards in the Repeated Inspection Game Management Science.
Offerman, Theo and Asa Palley (forthcoming). Lossed in Translation: An Off-the-Shelf Method to
Recover Probabilistic Beliefs from Loss-Averse Agents Experimental Economics.
Tyszler, Marcelo and Arthur Schram (forthcoming). Information and Strategic Voting Experimental
Economics.
Violet Swakman, Lucas Molleman, Aljaž Ule, Martijn Egas. (forthcoming). "Reputation-based
cooperation: empirical evidence for behavioral strategies". Evolution and Human Behavior.
Weber, Matthias and Arthur Schram (forthcoming). The Non-Equivalence of Labor Market Taxes: A
Real-Effort Experiment The Economic Journal.
76
Output type
Classification
Refereed
#
24
Non-refereed
0
Professional
0
Popular
0
Refereed
0
Non-refereed
0
Professional
0
Popular
0
0
PhD theses
4
Working papers
9
Al-Ubaydli, O., Andersen, S., Gneezy, U.H. & et.al., . (2015). Carrots That Look Like Sticks: Toward
an Understanding of Multitasking Incentive Schemes. Southern Economic Journal, 81 (3),
538-561.
Bault, N.G.J., Pelloux, B., Fahrenfort, J.J., Ridderinkhof, K.R. & Winden, F.A.A.M. van (2015).
Neural dynamics of social tie formation in economic decision-making. Social Cognitive and
Affective Neuroscience, 10 (6), 877-884.
Bereby-Meyer, Y. & Shalvi, S. (2015). Deliberate honesty. Current Opinion in Psychology, 6, 195198.
Bracha, A., Gneezy, U.H. & Loewenstein, G. (2015). Relative Pay and Labor Supply. Journal of
labor economics, 33 (2), 297-315.
Buskens, V., Gerxhani, K. & Schram, A.J.H.C. (2015). Editorial: Experimental Game Theory and Its
Application in Sociology and Political Science. Journal of applied mathematics, 2015.
Dreu, C.K.W. de, Scholte, R.S., Winden, F.A.A.M. van & Ridderinkhof, K.R. (2015). Oxytocin
tempers calculated greed but not impulsive defense in predator-prey contests. Social
Cognitive and Affective Neuroscience, 10 (5), 721-728.
Dreu, C.K.W. de, Scholte, H.S., Winden, F.A.A.M. van & Ridderinkhof, K.R. (2015). Oxytocin
tempers calculated greed but not impulsive defense in predator-prey contests. Social
Cognitive and Affective Neuroscience, 10 (5), 721-728.
Groot Ruiz, A. de, Offerman, T. & Onderstal, S. (2015). Equilibrium selection in experimental cheap
talk games. Games and Economic Behavior, 91, 14-25.
Hoffman, M., Suetens, S., Gneezy, U.H. & et.al., . (2015). An experimental investigation of
evolutionary dynamics in the Rock-Paper-Scissors game. Scientific Reports, 5 (8817).
Hu, A. & Zou, L. (2015). Sequential auctions, price trends, and risk preferences. Journal of Economic
Theory, 158 (Part A), 319-335.
Kurz, S., Maaser, N., Napel, S. & Weber, M. (2015). Mostly sunny: a forecast of tomorrow's power
index. Homo Oeconomicus, 32 (1), 133-146.
Linde, J. & Sonnemans, J. (2015). Decisions under risk in a social and individual context: the limits of
social preferences? Journal of Behavioral and Experimental Economics, 56, 62-71.
Nosenzo, D., Offerman, T., Sefton, M. & Veen, A. van der (2015). Discretionary sanctions and
rewards in the repeated inspection game. Management Science.
Offerman, T. & Veen, A. van der (2015). How to subsidize contributions to public goods: Does the
frog jump out of the boiling water? European Economic Review, 74, 96-108.
Offerman, T.J.S. & Palley, A.B. (2015). Lossed in translation: An off-the-shelf method to recover
probablistic beliefs from loss-averse agents. Experimental Economics.
77
Reuben, E., Traxler, C. & Winden, F.A.A.M. van (2015). Advocacy and political convergence under
preference uncertainty. European Economic Review, 79 (October 2015), 16-36.
Schlag, K.H. & Weele, J.J. van der (2015). A method to elicit beliefs as most likely intervals.
Judgment and Decision Making, 10 (5), 456-468.
Schlag, K.H., Tremewan, J. & Weele, J.J. van der (2015). A penny for your thoughts: a survey of
methods for eliciting beliefs. Experimental Economics, 18 (3), 457-490.
Schram, A. & Charness, G. (2015). Inducing social norms in laboratory allocation choices.
Management Science, 61 (7), 1531-1546.
Smeets, P., Bauer, R. & Gneezy, U.H. (2015). Giving behavior of millionaires. Proceedings of the
National Academy of Sciences of the United States of America, 112 (34), 10641-10644.
Tyszler, M. & Schram, A.J.H.C. (2015). Information and Strategic Voting. Experimental Economics.
Weber, F.J. & Schram, A.J.H.C. (in press). The Non-Equivalence of Labor Market Taxes: A
Real-Effort Experiment. Economic Journal.
Weisel, O. & Shalvi, S. (2015). The collaborative roots of corruption. Proceedings of the National
Academy of Sciences of the United States of America, 112 (34), 10651-10656.
Winden, F. van (2015). Political economy with affect: on the role of emotions and relationships in
political economics. European Journal of Political Economy, 40 (Part B), 298-311.
Gomez-Martinez, F., Onderstal, S. & Sonnemans, J. (2015). Firm-specific information and explicit
collusion in experimental oligopolies. (Tinbergen Institute Discussion Paper, no TI 15-054/I).
talk games. (Tinbergen Institute Discussion Paper, no TI 2015-012/VII).
Kopányi, D. & Kopányi-Peuker, A.G. (2015). Endogenous information disclosure in experimental
oligopolies. CREED working paper.
Kopányi-Peuker, A.G., Offerman, T.J.S. & Sloof, R. (2015). Team production benefits from a
permanent fear of exclusion. (no TI 2015-067/VII). Tinbergen Institute Discussion Paper.
He, S., Offerman, T. & Ven, J. van de (2015). The Sources of the Communication Gap. Working
paper.
Hu, X., Offerman, T. & Zou, L. (2015). How Risk Sharing May Enhance Efficiency in English
Auctions. Working paper.
Kopanyi-Peuker, A., Offerman, T. & Sloof, R. (2015). Probation or Promotion? The Fear of
Exclusion Improves Team-Production. Working paper.
Leeuwen, B. van, Offerman, T. & Schram, A. (2015). Competition for Status Creates Superstars: An
Experiment on Public Good Provision and Network Formation. (intern rapport). : Working
paper.
Leeuwen, B. van, Noussair, C., Offerman, T., Suetens, S., Veelen, C.M. van & Ven, J. van de (2015).
Predictably Angry: Facial Cues Provide a Credible Signal of Destructive Behavior. Working
paper.
Kamm, A. (2015, Oktober 28). Political actors playing games: Theory and experiments. Universiteit
van Amsterdam (ix, 180 pag.) (Amsterdam: Tinbergen Institute). Prom./coprom.: prof.dr.
A.J.H.C. Schram.
Kopányi-Peuker, A.G. (2015, Oktober 14). Endogeneity matters: Essays on cooperation and
coordination. Universiteit van Amsterdam (vii, 171 pag.) (Tinbergen Institute: Amsterdam).
Prom./coprom.: prof.dr. T.J.S. Offerman & prof.dr. R. Sloof.
Leeuwen, B. van (2015, Oktober 30). Cooperation, networks and emotions: Three essays in
behavioral economics. Universiteit van Amsterdam (178 pag.) (Amsterdam: Tinbergen
Institute). Prom./coprom.: prof.dr. T.J.S. Offerman & prof.dr. A.J.H.C. Schram.
78
Weber, M.G. (2015, November 17). Behavioral economics and the public sector. Universiteit van
Amsterdam (xiii, 183 pag.). Prom./coprom.: prof.dr. A.J.H.C. Schram.
Lebreton, M. (2015). ABC Symposium on Decision Making: Integrating the Decision Sciences at the
University of Amsterdam - 21st April 2015.
Onderstal, S. (2015) Tinbergen Institute Organizations & Markets seminar series.
Onderstal, S. (August 21-22, 2015) ABEE 2015, Amsterdam.
Van der Weele, J. (2015). "Tinbergen workshop on behavioral economics", October 8, University of
Amsterdam.
Recognition
De Dreu, C.K.W. (2015). NWO-Talent Grant “pupil mimicry and interpersonal trust (€240.000) (with
co-applicant M.E. Kret)
De Dreu, C.K.W. (2015). Rector’s Fellow, Netherlands Institute for Advanced Sciences, Wassenaar,
The Netherlands.
De Dreu, C.K.W. (2015). Hendrik Muller Prize, awarded by the Royal Netherlands Academy of
Sciences/Hendrik Muller Vaderlandsch Fonds in recognition of scientific contributions to the
social and behavioral sciences.
Lebreton, M. (2015). EU - Marie Skłodowska-Curie Individual Fellowship. € 130.000 subsidy for two
years. Title of research: ‘Learning heuristics in preference elicitation tasks: insights from
behavioral, computational and neurobiological investigations’. (starting May 1st 2015)
Lebreton, M. (2015). NWO-VENI - € 250.000 subsidy for three years. Title of research: ‘Learning
heuristics in preference elicitation tasks: insights from behavioral, computational and
neurobiological investigations’. (starting January 30th 2016)
Shaul, S. (2015-2020). European Research Council (ERC Starting grant), awarded 2014, €1500K
Shalvi, S. (2015). Selected as a Rising Star in the Association for Psychological Science.
Media appearance
Shaul, S. (2015, January 19). Why confessing is good for you. Psychology Today.
Shaul, S. (2015, August 10). When Cooperation Leads to Corruption. Pacific Standard.
Weele, J. van der (2015). Bimonthly column on behavioral economics on "economie.nl", the website
of ESB.
Sonnemans, J.H. (2015, December 20). Game theory and the cold war. Radio Swammerdam,
AmsterdamFM.
Winden, F. van (2015, May 30-31). Interview with Marijke Stellinga about CREED for newspaper
NRC.
Editorship
Offerman, T.J.S. (2015). Associate Editor Games and Economic Behavior.
Offerman, T.J.S. (2015). Member of the Editorial Board of Experimental Economics.
Onderstal, S. (2015) TPEdigitaal.
Schram, A.J.H.C. (2015). Advisory editor, Experimental Economics.
Shalvi, S. (2015). Associate Editor, Comprehensive Results in Social Psychology.
Shalvi, S. (2015). Associate Editor, Journal of Experimental Social Psychology.
Shalvi, S. (2015). Editorial board, Organizational Behavior and Human Decision Processes.
Shalvi, S. (2015). Section Editor on Morality and Ethics, Current Opinion in Psychology.
Sonnemans, J.H. (2015). Member editorial board Journal of Economic Psychology.
Sonnemans, J.H. (2015). Member editorial board Quantitative Finance.
Winden, F. van (2015) Editorial board Public Choice.
79
De Dreu, C.K.W. (2015, September 13). From neighbourhoods to neurons, and back. Invited Address,
European Social Neuroscience Network. Graz, Austria.
De Dreu, C.K.W. (2015, November 26). Neurocognitive underpinnings of parochial cooperation in
intergroup conflict and competition. Oxford University, Oxford, United Kingdom.
Hu, Audrey, and Liang Zou (2015). “.Sequential Auctions with Generalized Interdependent Values,”
Tsinghua University, September 2015, Beijing China.
Hong Kong Chinese University, October 2015, Hong Kong, China.
Hong Kong City University, October 2015, Hong Kong, China.
Shanghai University of Finance and Economics, October 2015, Shanghai, China.
Kamm, A. (2015, February 17). Plurality Voting versus Proportional Representation in the CitizenCandidate Model. Max Planck Institute for Tax Law and Public Finance, Munich.
Kamm, A. (2015, May 6). Bargaining in the Presence of Condorcet Cycles: The Role of
Asymmetries. VU University, Amsterdam.
Lebreton M (2015). Amsterdam Institute for Addiction Research, Academic Medical Center,
University of Amsterdam, Amsterdam, The Netherlands.
Lebreton M (2015). B.Sc. Psychobiology - Course: Emotion, Motivation and Internal Regulation Universiteit van Amsterdam.
Lebreton M (2015). Donders Centre for Cognitive Neuroimaging - DCCN colloquium, Radboud
University, Nijmegen, The Netherlands.
Lebreton M (2015). Tinbergen Institute, Behavioral Economics Workshop, Amsterdam, The
Netherlands.
Offerman, T.J.S. (2015, December 10). ‘Defaults, Normative Anchors and the Occurrence of Risky
and Cautious Shifts’, Invited Seminar, University of East Anglia, Norwich.
Offerman, T.J.S. (2015, December 9). ‘Defaults, Normative Anchors and the Occurrence of Risky and
Cautious Shifts’, Invited Seminar, Goethe University, Frankfurt.
Offerman, T.J.S. (2015, October 16). ‘Defaults, Normative Anchors and the Occurrence of Risky and
Cautious Shifts’, Invited Seminar, GATE-LAB workshop, Lyon.
Onderstal, S. (April 2, 2015). "Trading Places: An Experimental Comparison of Reallocation
Mechanisms for Priority Queuing" Seminar Tinbergen Institute, Amsterdam.
Onderstal, S. (December 14, 2015). "Does relative grading help male students? Evidence from a field
experiment in the classroom." Seminar Paderborn University.
Onderstal, S. (February 12, 2015). "Does relative grading help male students? Evidence from a field
experiment in the classroom." Seminar CPB, Den Haag.
Onderstal, S. (February 27, 2015). "Does relative grading help male students? Evidence from a field
experiment in the classroom." Seminar Saint Louis University, Brussels.
Schram, A.J.H.C. (2015, February 9). “Power And Authority”, invited seminar, Max Planck Institute,
Bonn, Germany.
Schram, A.J.H.C. (2015, November 10). “Status Rents create Superstars”. European University
Institute, Florence, Italy.
Schram, A.J.H.C. (2015, October 1). “Status Anxiety makes Women Underperform”, George Mason
University, Arlington, Virginia, U.S.A.
Schram, A.J.H.C. (2015, October 2). “Gordon Tullock and Experimental Economics”, Plenary talk at
the Tullock Memorial Conference, Center for the Study of Public Choice, George Mason
University, Arlington, Virginia, U.S.A.
Shalvi, S. (2015, April). The collaborative roots of corruption, Bar Ilan University, Ramat Gan, Israel
Shalvi, S. (2015, February). The collaborative roots of corruption, Zurich, Switzerland.
Shalvi, S. (2015, June). The collaborative roots of corruption, Recanati Business School, Tel Aviv
University, Tel Aviv.
Shalvi, S. (2015, March). The collaborative roots of corruption, Lyon, France.
80
Shalvi, S. (2015, May). The collaborative roots of corruption, Hebrew University, Jerusalem Tel
Aviv.
Shalvi, S. (2015, September). The collaborative roots of corruption, Burgundy School of Business,
Dijon.
Shalvi, S. (2015, juni 25). The collaborative roots of corruption. Sopot, Poland, "Moral judgment and
behavior", invited to a small group meeting organized by the European Association for Social
Psychology.
Ule, A. (2015, October 23) “On economic foundations of meaning”, CEREC workshop, Université
Saint-Louis – Bruxelles.
Ule, A. (2015, October 20). "Introduction to Experimental Economic", two lectures for graduate
students University of Salerno.
Ule, A. (2015, October 21). "Experimental Economics in Practice: Focal Points Revisited", seminar
presentation University of Salerno.
Weele, J.J. van der (2015, June 22). "Deception and Self-deception", Workshop on Self-deception
and Self-signaling (Institute for Advanced Studies, Toulouse).
Weele, J.J. van der (2015, May 19). "Deception and Self-deception", Maastricht University.
Weber, M. (2015, February 10). Monetary Policy under Behavioral Expectations: Theory and
Experiment, Vilnius (Lithuania) Bank of Lithuania.
Weber, M. (2015, February 24). Choosing Voting Systems behind the Veil of Ignorance: A Two-Tier
Voting Experiment, Universidad del Rosario Bogotá (Colombia).
Weber, M. (2015, February 3). The Non-Equivalence of Labor Market Taxes: A Real-Effort
Experiment, Mannheim (Germany).
Winden, F. van (November 17, 2015). Seminar, Incidental fear and financial risk taking, Department.
of Economics and Business Economics, Radboud University , Nijmegen.
Other lectures
Gomez Martinez, F. (22-23 June, 2015). “Partial Cartels and Mergers with heterogenous firms:
Experimental Evidence”. CCC Meeting in Norwich.
Gomez Martinez, F. (28-30 August , 2015). “Firm-specific information and explicit collusion in
experimental oligopolies”. European Association for Research in Industrial organization
Conference 2015 (EARIE) in Munich.
Gomez Martinez, F. (April 24-26,2015). “Firm-specific information and explicit collusion in
experimental oligopolies”.13th Annual International Industrial Organization Conference
(IIOC) in Boston.
Gomez Martinez, F. (October 15 ,2015). “Partial Cartels and Mergers with heterogenous firms:
Experimental Evidence”. Organization and Markets Workshop Tinbergen Institute in
Amsterdam.
Gordon-Hecker, T., Pittarello, A., Rozenfart, D., Shamir, T., Shalvi, S., & Bereby-Meyer, Y. (2015).
When less is better than more: Preferring equity over efficiency in allocation decisions, 25th
Subjective Probability Utility Decision Making (SPUDM) meeting, Budapest, Hungary.
He, S. (2015, August 28). "Competition and cooperation with asymmetric population structure,"
Social and Biological Roots for Cooperation and Risk Taking Workshop, Kiel.
He, S. (2015, December 11). "What’s Right When You’re Left? Minority Advantage and
Disadvantage in Competitive and Cooperative Environments,”Simposio de la Asociación
Española de Economía, Girona.
He, S. (2015, December 15). "What’s Right When You’re Left? Minority Advantage and
Disadvantage in Competitive and Cooperative Environments,” The Econometric Society
European Winter Meeting, Milan.
He, S. (2015, June 22). "Competition and cooperation with asymmetric population structure,"
CREED-CEDEX-CBESS meeting, June 22, Norwich.
He, S. (2015, September 6). "Competition and cooperation with asymmetric population structure,"
ESA European Meeting, Heidelberg.
Hu, Audrey, and Liang Zou (2015, March). “Sequential Auctions, Price Trends, and Risk
Preferences.” Royal Economic Society Meeting (Manchester).
81
Brunner, Christoph, Audrey Hu and Tracy Liu (2015, July). “Risk Preferences and Price Trends in
Sequential Auctions: An Experimental Study.” Economic Science Association Meeting,
(Sydney).
Hu, Audrey, and Liang Zou (2015). “Sequential Auctions, Price Trends, and Risk Preferences.”
Econometric Society World Congress, August, 2015 (Montreal).
Hu, Audrey, and Liang Zou (2015). “Sequential Auctions, Price Trends, and Risk Preferences.”
Annual Congress of European Economic Association, August, 2015 (Mannheim).
Kamm, A. (2015, April 8). Plurality Voting versus Proportional Representation in the CitizenCandidate Model. European Public Choice Meeting, Groningen.
Kamm, A. (2015, December 15). Plurality Voting versus Proportional Representation in the CitizenCandidate Model. Workshop on Behavioral Political Economy, Abu Dhabi.
Kamm, A. (2015, June 8). Bargaining in the Presence of Condorcet Cycles: The Role of
Asymmetries, M-BEES, Maastricht.
Kamm, A. (2015, March 13). Plurality Voting versus Proportional Representation in the CitizenCandidate Model. 52nd Annual Meeting of the Public Choice Society, San Antonio.
Kopányi-Peuker (2015, April 16). Endogenous information disclosure in experimental oligopolies,
IMEBESS 2015 (Toulouse, France).
Kopányi-Peuker (2015, April 21). Endogenous information disclosure in experimental oligopolies.
NIBS 2015 workshop (Nottingham, United Kingdom).
Kopányi-Peuker (2015, February 24). Endogenous information disclosure in experimental oligopolies,
CBESS Seminar (University of East Anglia, Norwich, United Kingdom).
Kopányi-Peuker (2015, January 10). Fostering cooperation through the enhancement of own
vulnerability, RES PhD Presentation Meeting and Job Market (London, United Kingdom poster presentation.
Lebreton, M. (2015). Inter-individual normalization of value representation in the human brain
[poster] 12th Annual Meeting of the Society for Neuroeconomics, Miami USA.
Lebreton, M. (2015). Inter-individual normalization of value representation in the human brain
[poster] 21st Annual Meeting of the Organization for Human Brain Mapping, Honolulu, USA.
Leib, M., Shalvi, S., & Moran S. (2015). Corrupt reciprocity, 25th Subjective Probability Utility
Decision Making (SPUDM) meeting, Budapest, Hungary.
Offerman, T.J.S. (2015, February 5). ‘The Sources of the Communication Gap’, Presentation at
Experimental Methods in Policy Conference, Cancun.
Offerman, T.J.S. (2015, March 13). ‘The Sources of the Communication Gap’, Invited Lecture
Morality, Incentives and Unethical Behavior Conference, UCSD, San Diego.
Offerman, T.J.S. (2015, March 9). ‘Behavioral Mechanism Design’, Invited Lecture, Springschool,
UCSD, San Diego.
Onderstal, S. (April 25, 2015). "Trading Places: An Experimental Comparison of Reallocation
Mechanisms for Priority Queuing" International Industrial Organization Conference
conference, Boston.
Onderstal, S. (August 29, 2015). "Trading Places: An Experimental Comparison of Reallocation
Mechanisms for Priority Queuing" EARIE conference, Munich.
Onderstal, S. (July 2, 2015). "Trading Places: An Experimental Comparison of Reallocation
Mechanisms for Priority Queuing" Society for Economic Design conference, Istanbul.
Schram, A.J.H.C. (2015, April 15-17). “Status Anxiety makes Women Underperform”. IMEBESS,
Toulouse.
Schram, A.J.H.C. (2015, July 23-25). “Status Anxiety makes Women Underperform”. ESA, Sydney.
Shalvi, S. (2015). "Was that a lie?" Motivated Interpretations of potentially painful information, 25th
Subjective Probability Utility Decision Making (SPUDM) meeting, Budapest, Hungary.
Shalvi, S. (2015). Corrupt collaboration, 25th Subjective Probability Utility Decision Making
(SPUDM) meeting, Budapest, Hungary.
Shalvi, S. (2015). Corrupt collaboration, Economic Science Association, Heidelberg, Germany.
Shalvi, S. (2015). Eyes on the price: Information processing and lower bid bias, 25th Subjective
Probability Utility Decision Making (SPUDM) meeting, Budapest, Hungary.
Smerdon, D. (2015, June 22). “Bad Social Norms”, CCC Conference, Norwich.
Smerdon, D. (2015, October 22). “Trust and Refugees” Development Group seminar, VU Amsterdam
82
Sonnemans, J.H. (2015, June 18). “Learning and Evolution in a Multi-Round Strategy-Method
Minority-Game Experiment”. Experimental Finance 2015, Nijmegen, Netherlands.
Sonnemans, J.H. (2015, September 3).”The endowment effect in games”. Economic Science
Association European Meeting 2015, Heidelberg, Germany.
Ule, A. (2015, August 22). "Democracy and regulation: The effects of electoral competition on
infrastructure investments", ABEE conference, Amsterdam.
Weele, J.J. van der (2015, August 27). "Deception and Self-deception", Tiber 14 (Tilburg
University).
Weele, J.J. van der (2015, June 6). "Testing Dual Process Reasoning in Charitable Giving", M-BEES
(Maastricht University).
Weber, M. (2015, June 12). Choosing the Rules: Preferences over Voting Systems for Assemblies of
Representatives, Political Economy Workshop, Rotterdam (The Netherlands).
Weber, M. (2015, May 8). Monetary Policy under Behavioral Expectations: Theory and Experiment,
UCSD-Rady Workshop on Incentives and Behavior Change, Modica (Italy).
Zheng, J. (2015, October 23). "Friend or Foe: Social Distance in Bribery", Dallas.
De Dreu, C.K.W. (2015). Nederland-Vlaamse Accreditatie Onderwijs (KNAW Committee on
Research Masters), Member.
De Dreu, C.K.W. (2015). KNAW Election Evaluation Committee. Member.
De Dreu, C.K.W. (2015). 2015 KNAW-Ammodo Award for the Social and Behavioral Sciences.
Chair of the jury.
De Dreu, C.K.W. (2015). David van Lennep Scriptieprijs; Netherlands Institute for Applied
Psychology. Chair of the jury.
Hu, A. (2015). Research fellow of the Tinbergen Institute.
Offerman, T.J.S. (2015). Fellow of the Tinbergen Institute.
Offerman, T.J.S. (2015). Fellow of CESS, NYU.
Offerman, T.J.S. (2015). External fellow of CeDEX, University of Nottingham.
Onderstal, S. (November 19, 2015) Member of PhD committee Xiaoming Cai, VU University
Amsterdam
Onderstal, S. (2015). Research fellow of the Tinbergen Institute.
Onderstal, S. (2015). Fellow of ACLE.
Onderstal, S. (October 1, 2015) Member of PhD committee Hsin-Mien Wang, Bielefeld University
(pre-defense)
Schram, A.J.H.C. (2015). Fellow Tinbergen Institute.
Schram, A.J.H.C. (2015). Member of NWO Veni selection committee.
Shalvi, S. (2015). Fellow of the Tinbergen Institute.
Sonnemans, J.H. (2015). Fellow of the Tinbergen Institute.
Weele, J.J. van der (2015). Fellow of the Tinbergen Institute.
Weele, J.J. van der (2015). Center for Financial Studies (Frankfurt am Main).
Weele, J.J. van der (2015). Center for Leadership and Behavior in Organizations (CLBO, Frankfurt
am Main).
Winden, F.A.A.M. van (2015). Tinbergen Institute.
Winden, F.A.A.M. van (2015). CEPR, London.
Winden, F.A.A.M. van (2015). CESifo, Munich.
Winden, F.A.A.M. van (2015). KHMW.
Winden, F.A.A.M. van (2015). Academic Advisory Council of the Max-Planck-Institute for
Collective Goods, Bonn.
Winden, F.A.A.M. van (2015). Andrej Svorencik. The experimental turn in economics, promotores: J.
Plantenga, M. Morgan, co-promotor Harro Maas. University of Utrecht.
83
Relevant position
Hu, A. (2015). Referee for RAND Journal of Economics; Economic Journal; Mathematical Social
Science; Journal of Economic Behavior and Organization; OR Spectrum.
Kamm, A. (2015). Referee for Economic Inquiry, Journal of the Economic Science Association,
Journal of Experimental Political Science, Journal of Applied Mathematics.
Lebreton, M. (2015). Referee for PLoS One.
Offerman, T.J.S. (2015). Referee for American Economic Review, Econometrica, Economic Journal,
Experimental Economics, Games and Economic Behavior, Journal of Economic Theory,
Journal of the European Economic Association, Management Science, Review of Economic
Studies.
Onderstal, S. (2015). Referee for Bulletin of Economic Research, Economic Theory, European
Economic Review, Experimental Economics, Games, Games and Economic
Behavior, International Economic Review, Journal of Economic Psychology, Journal of
Economic Theory, Journal of Law, Economics, and Organization, Management Science,
Mathematical Social Sciences, TPEdigitaal.
Schram, A.J.H.C. (2015). Referee for Economic Journal (4x), Experimental Economics (3x), Games
and Economic Behavior, Journal of Economic Behavior and Organization (2x), Management
Science, PlosOne, Public Choice, Rationality and Society Journal.
Shalvi, S. (2015). Referee for Nature, Proceedings of the National Academy of Sciences
USA, Behavior Research Methods, British Journal of Social Psychology, Cognitive
Processing, Current Direction in Psychological Science, Emotion, European Journal of
Social Psychology, Frontiers in cognitive Science, Hormones and Behavior, Journal of
Behavioral Decision Making, Journal of Business Ethics, Journal of Economic Psychology,
Journal of Experimental Psychology: General, Journal of Experimental Psychology:
Learning, Memory, and Cognition, Journal of Experimental Social Psychology, Journal of
Personality and Social Psychology, Judgment and Decision Making, Organizational Behavior
and Human Decision Processes, Personality and Social Psychology Bulletin, Psychological
Science, The Physician and Sports Medicine.
Sonnemans, J.H. (2015). Referee for Econometrica, Experimental Economics, European Economic
Review, Theory and Decision, Journal of Economic Psychology, Games and Economic
Behavior, Journal of Economic Behavior and Organization, Journal of Behavioral and
Experimental Economics, German Economic Review, European Journal of Political
Economics, Journal of Public Economics.
Ule, A. (2015). Referee for European Economic Review, Rationality and Society Journal, Journal of
Economic Behavior and Organization, Društvena istraživanja.
Weele, J.J. van der (2015). Referee for European Economic Review, Games and Economic Behavior
(2x), Journal of Conflict Resolution, Journal of the European Economic Association, Journal
of Economic Psychology (2x), Journal of Public Economics, Rand Journal of Economics.
Weber, M. (2015). Referee for Public Choice, Macroeconomic Dynamics.
Winden, F. van (2015). Referee for Journal of Public Economics; Constitutional Political Economy;
Evaluation for Dept of Economics, University of Arizona.
84
12. MARKETS & ORGANIZATIONS
Programme director:
METIS-code:
JEL-classification:
Starting date:
Website:
Prof. dr. R. Sloof
uva/feb/ase/mo
L
2005
www.aseri.uva.nl/mo
Name
Buser, T.
Buser, T.
Czibor, E.
Dominguez Martinez, S.
Guerriero, C.
Hinloopen, J.
Hoogendoorn, S.
Hsieh, C.
Koudstaal, M.
Onderstal, S.
Praag, C.M. van
Rosendahl Huber, L.
Rosendahl Huber, L.
Schinkel, M.P.
Seldeslachts, J.
Seldeslachts, J.
Sloof, R.
Smrkolj, G.
Soetevent, A.R.
Soetevent, A.R.
Sol, J.
Sun, J.
Toth, L.
Ven, J. van de
Ven, J. van de
Zhou, L.
Zhou, L.
PhD students
Title
dr.
dr.
msc
dr.
dr.
prof. dr.
msc
dr.
msc
dr.
prof. dr.
msc
msc
prof. dr.
dr.
dr.
prof. dr.
dr.
prof. dr.
prof. dr.
dr.
msc
msc
dr.
dr.
msc
msc
Function
ud
ud
phd
ud
ud
hgl
phd
ud
phd
ud
hgl
phd
phd
hgl
ud
ud
hgl
docent
hgl
guest
ud
phd
phd
ud
uhd
phd
guest
Total
2013
0,21
0,80
0,50
0,50
0,50
0,07
0,50
0,53
0,30
0,25
0,19
0,19
0,53
0,17
0,50
0,00
0,29
0,00
0,50
0,80
0,30
0,08
0,80
7,72
0,53
0,26
4,79
8,51
3,19
85
Total
2014
0,33
0,27
0,80
0,41
0,50
0,50
0,80
0,30
0,67
0,25
0,46
0,50
0,00
0,80
0,50
0,53
0,00
7,35
0,27
0,00
3,75
7,62
2,38
Total
2015
0,80
0,53
0,25
0,38
0,33
0,80
0,30
0,00
0,18
0,25
0,02
0,50
0,27
0,60
0,50
4,73
0,80
0,18
2,53
5,71
2,38
Funding
1
2
1
1
1
1
3
1
1
1
1
3
1
1
2
1
1
1
1
1
1
1
1
1
1
1
1
Objectives
Broadly defined, the research programme on Markets & Organizations aims to improve our
understanding of the working of markets and organizations in capturing the economic benefits from
collective action and to identify as well as evaluate (policy) interventions that may improve market or
organizational performance.
Motivation
The field of Markets and Organizations is broad. Research within the programme is centered around
both Industrial Organization, Competition Policy & Regulation (i.e. “markets”), and Organizational
Economics. Moreover, given the historical origin of the organizational economics group, there is a
close and well-established link with research on the Economics of Entrepreneurship. Three different,
but closely interrelated lines of research can thus be delineated.
The first line of research studies the working of imperfectly competitive markets, in particular how
firms compete with each other on these markets and what the effects are of policy interventions aimed
at affecting market performance. The natural focus is on oligopolies where firms have some market
power. Topics of interest include (but are not restricted to) pricing strategies, (tacit) collusion,
locational choice, research and development, inter-firm relationships, competition policy, market
design, auctions, two-sided markets, network industries, regulatory design and enforcement tools
(including detection, fines, leniency programmes and settlement).
Within economics organizations can be viewed as a means of achieving the benefits of collective
action in situations where the price system fails. The second strand of research within M&O on
Organizational Economics is concerned with studying the effective internal functioning of
organizations in capturing these benefits. The key focus is on problems that may arise from
coordinating and motivating the members of an organization to create economic value through
superior organizational performance and to study potential remedies for these problems.
The third line of research on the Economics of Entrepreneurship focuses on studying (the
determinants of) the choices, behavior and performance of entrepreneurs and on whether and how
government policy may be effective in fostering entrepreneurship.
Methods
Within the M&O programme a there is an emphasis on both sound empirical work and on applied
theory. Empirical analyses primarily focus on the detection and measurement of unbiased effects,
either through the use of naturally occurring field data (by means of ‘quasi experiments’ and
instrumental variables techniques), field experiments or laboratory experiments. Applied theory
typically concerns using the tools from microeconomics and applied game theory to evaluate the
impact of either government policy or organizational interventions intended to improve efficiency.
Often these models are enriched by incorporating insights from behavioural economics, as empirical
evidence has mounted that people do not always satisfy the rationality assumptions made in
traditional economic models. Research within the M&O group is always done with a keen eye
towards societal relevance, ranging from competition policy, practical auction design in procurement,
to the effectiveness of entrepreneurship education in stimulating entrepreneurial intentions.
86
Projects
A wide variety of topics and questions are studied within the M&O research programme, which by
and large can be divided along the three different lines of research outlined above. Each of these can
be can be further subdivided into a number of different research projects.
1. Industrial Organization, Competition Policy & Regulation
1.1 Competition policy & Regulation
Current empirical projects on competition policy deal with potential deterrence effects of merger
policy tools, based on data from the U.S. Department of Justice and the U.S. Federal Trade
Commission. Furthermore, group members have investigated whether firms that collaborate in
research joint ventures, use these collaborations to collude in product markets. In another project, a
series of experiments is set up to study the relationship between competition, the nature of
competition, the size of a loss and firm profits in insurance markets. Also the impact of antitrust
policy at large is investigated. This is done by further refining the methodologies to estimate price
cost margins and by applying the methodology to data from e.g. the Indonesian economy. In addition
to the nation-wide impact of the introduction of antitrust policy, also the change in the behaviour of
targeted firms was investigated by a difference in difference method. Another strand of research
focuses on the Dutch mortgage market. An explanation it puts forward for high mortgage rates is state
aided price coordination in Dutch mortgage banking; at some point in time three out of the four main
competitors received state aid, prohibiting them to undercut rates of firms that do not get state aid.
This allowed the single remaining big player to effectively act as a price leader and implicit
coordinator of collusive pricing.
1.2 Research and development
Research cooperation is key for businesses to successfully innovate and prosper, and firms
increasingly rely on extensive networks to achieve their goals. It is, however, still poorly understood
how these R&D cooperatives are formed, how they evolve, what their impact is on R&D activities,
and what should constitute an optimal R&D policy. These questions drive several research lines. For
instance, group members are developing a theoretical framework of research network formation. This
framework is tested against a database that includes all large research collaborations in the U.S. Other
group members assess the welfare implications of sustaining R&D cooperatives. Again, the
fundamental trade-off between static and dynamic efficiency is addressed, giving additional insights
as to what should constitute an optimal R&D-stimulating policy.
1.3 Auctions
In the past few decades, the study of auctions has become one of the most active research areas in
economic sciences. We aim at answering questions such as: How to prevent cartel formation in
auctions? What is the effect of limited liability on bidding behaviour? How to design auctions of
multiple objects? What are optimal mechanisms in quasi-markets such as welfare-to-work markets
and health care markets? What is the effect of license auctions on the performance of markets? For
example, groups members have studied experimentally the impact leniency programmes on the
collusive properties of different auction types. Others have studied fundraising mechanisms on
charitable giving in a door-to-door fundraising field experiment. The starting point here is that people
are not purely selfish because if they were they would donate nothing to charity.
1.4 Economic analysis in competition cases
Increasingly does economic analysis play a decisive role in competition law enforcement. In
competition cases, economic arguments in market definition, for example in two-sided markets, the
theory of harm, or an efficiency defense can be decisive in the finding of an infringement and the
design of remedies. Since business strategies constantly evolve, the thinking about possible
anticompetitive aspects of them is under constant development as well. Topics studies in this research
focus range from quantifying the efficiency defense in merger control and the identification of abuse
87
of dominance strategies, to analyzing the effects of State aid remedies and the calculation of cartel
damages.
2. Organizational Economics
2.1 Decision rights and internal organization
A key feature of organizational architecture is the division of tasks and responsibilities within
organizations: who does and decides on what? Employees lower in the organizational chart typically
have better knowledge to take operational decisions, but at the same time have objectives that (may)
differ from the interests of the firm. Within this project the tradeoffs that arise in delegating decision
authority –like a loss of control versus a loss of initiative– are studied. The focus is in particular on
behavioural biases that may affect these tradeoffs; especially when it comes to authority and
monitoring non-monetary motives have been found to play a prominent role. Another topic concerns
whether (procedural) preferences regarding the way in which decisions are taken affects how
efficiently these taken decisions are subsequently implemented.
2.2 Performance measurement and reward systems
A second set of projects within the domain of Organizational Economics is concerned with the design
of good performance measures and of appropriate reward systems. Performance measures are for
instance evaluated empirically in terms of their noise and their distortions. The research on reward
systems focuses predominantly on (among other things) pay-for-performance contracts, career
opportunities and promotions, returns to investments in skills acquisition and the interaction between
explicit and implicit incentives. Also here a behavioural approach is typically taken, as people often
care about how well they fare relative to others.
3. Economics of Entrepreneurship
3.1 Evaluation of entrepreneurship programmes
Public policy has increasingly proposed and implemented programmes to encourage entrepreneurship.
Most of these programmes are designed to decrease human and financial capital constraints. We aim
at measuring the causal effect of these programmes, with a focus on entrepreneurship education, on
the intended outcomes by using field experiments.
3.2 The behavioural traits of entrepreneurs
This research aims to identify the defining behavioural traits of entrepreneurs and to establish to what
extent these differ from managers. The relevant traits studied include, among other things, attitudes
towards risk and losses, overconfidence, intuitive and rational thinking, optimism, willingness to
compete and willingness to cooperate in a team. Established entrepreneurs and managers participate
in online incentivized tasks designed to measure the relevant traits. We are building a database of
entrepreneurs and managers that can be approached for this purpose bi-annually.
Turnover
In September 2015, former programme co-director prof. dr. Jeroen Hinloopen took up a position at
Utrecht University. He still has an affiliation with the research programme as a guest researcher. As of
September 2015, András Kiss joined the research programme on a tenure track position. András field
of expertise is (empirical) industrial organization.
Laura Rosendahl Huber successfully defended her PhD thesis in April 2015, Eszter Czibor did so in
November 2015. Laura took up an assistant professor position at the Max Planck Institute in Munich,
while Eszter obtained a postdoc position at the University of Chicago financed by a Rubicon grant.
Martin Koudstaal, Lukas Tóth and Liting Zhou are expected to defend their theses in 2016. Junze Sun
88
and Andrej Woerner joined the research programme as new PhD students (jointly supervised with
Arthur Schram from the CREED research programme).
Strengths: The group has a very broad orientation, both in terms of the choice of research topics as in
terms of methodologies used (theoretical/[lab/field]experimental/empirical). Group members are each
other’s complements, which regularly yields papers that are co-authored by several group members.
The group is well-embedded in ASE and in the Tinbergen Institute; group members thus have
coauthored papers with members from other ASE research groups. The research performed by the
group is not only of high quality (with key publications appearing in top journals), but also very
visible and of great practical importance (e.g. the work of Schinkel on the Dutch mortgage market).
Group members have close links with governmental bodies such as ministries and antitrust agencies.
The group is relatively young, hosts highly qualified researchers, and has a high growth potential.
Thomas Buser was again extremely successful this year, this time among other things receiving the
Christiaan Huygens science prize .
Weaknesses: There is too little coherence in the broad research programme. The group is not
prominent in the arena of theoretical industrial organization and contract theory, except for the field of
auction theory.
Opportunities: Joint physical location to stimulate regional spillovers; cross-fertilization of research
fields; the creation of an M&O major at TI. Within Europe, the group has close contacts with research
groups in industrial organization at other universities. The challenge is to establish a more formal
network with these other departments in order to pool research projects and resources.
Threats: The group has a small-scale, with only a few PhD students and no postdocs; a viable
research programme needs a continuous inflow and outflow of PhD students.
Societal relevance
Research by the group on the deterrence effects of merger policy tools and the effectiveness of
leniency programmes is directly relevant to competition agencies and governmental bodies such as the
ACM. Besides, the group’s empirical projects target specific markets the functioning of which is of
major importance to social welfare, such as the banking sector, insurance markets, retail gasoline
pricing and public procurement. For this reason, research by the group regularly features in national
newspapers and international magazines. Group members also appear on television to contribute to
the debate by commenting on the developments in specific markets and the effects of these on
competition. Maarten Pieter Schinkel, for instance, is frequently asked for media appearances
commenting on the (non)competitiveness of the Dutch mortgage market. Group members also
participate it governmental expert committees and provide targeted advise for particular policy issues.
For instance, Sander Onderstal advised the Ministry of Economic Affairs on the design of the auction
for mobile telecommunications, and Jo Seldeslachts was a member of the expert committee
“Toekomst van toezicht” of the Dutch Wetenschappelijke Raad voor het Regeringsbeleid (WRR).





Standard funding from TI and ASE-RI
ACLE receives additional funding directly from the FEB-Dean; some group members
(Schinkel) are partly financed by ACLE
Funding from research priority area ‘Behavioural Economics’
VENI-grant Buser
Use CREED lab
89
12.5 OUTPUT
Key publications
Bremzen, A., Khokhlova, E., Suvorov, A. and J. van de Ven (2015). Bad News: An Experimental
Study on the Informational Effects of Rewards, Review of Economics and Statistics 97, 55-70.
Buser T., Niederle, M. & Oosterbeek, H. (2014). Gender, Competitiveness and Career Choices.
Quarterly Journal of Economics 129(3), 1409-1447.
Buser, T., (2015). The effect of income on religiousness, American Economic Journal: Applied
Economics 7, 178-195.
Duso T, Roeller H, & Seldeslachts J. ( 2014). R&D collaborations as a collusive tool: Empirical
evidence, Review of Economics and Statistics 96, 349 - 370.
Kuhn, P., Kooreman P., Soetevent, A.R. & Kapteyn, A. (2011). The Effects of Lottery Prizes on
Winners and their Neighbors: Evidence from the Dutch Postcode Lottery. American Economic
Review, 101(5), 2226-2247.
Forthcoming
Haan, T. de, Offerman, T.J.S. & Sloof, R. (in press). Discrimination in the labour market: the curse of
competition between workers. Economic Journal.
Hsieh, C., Parker, S.C. & Praag, M.C. van (in press). Risk, Balanced Skills and Entrepreneurship.
Small Business Economics.
Kopányi-Peuker, A., Offerman, T. & Sloof, R. (in press). Fostering cooperation through the
enhancement of own vulnerability. Games and Economic Behavior.
Koudstaal, M., Sloof, R. & Praag, M. van (in press). Risk, uncertainty and entrepreneurship: evidence
from a lab-in-the-field experiment. Management Science.
Output type
Classification
#
Refereed
8
Non-refereed
0
Professional
1
Popular
0
Refereed
1
Non-refereed
0
Professional
0
Popular
0
0
PhD theses
3
Working papers
14
Bremzen, A., Khokhlova, E., Suvorov, A. & Ven, J. van de (2015). Bad news: an experimental study
on the informational effects of rewards. Review of Economics and Statistics, 97 (1), 55-70.
Buser, T. (2015). The effect of income on religiousness. American Economic Journal: Applied
Economics, 7 (3), 178-195.
Dari-Mattiacci, G. & Guerriero, C. (2015). Law and culture: a theory of comparative variation in bona
fide purchase rules. Oxford Journal of Legal Studies, 35 (3), 543-574.
90
Diecidue, E., Levy, M. & Ven, J. van de (2015). No Aspiration to Win? An Experimental Test of the
Aspiration Level Model. Journal of Risk and Uncertainty, 51 (3), 245-266.
talk games. Games and Economic Behavior, 91, 14-25.
Heijnen, P., Haan, M.A. & Soetevent, A.R. (2015). Screening for collusion: a spatial statistics
approach. Journal of Economic Geography, 15 (2), 417-448.
Ven, J. van de & Villeval, M.C. (2015). Dishonesty under scrutiny. Journal of the Economic Science
Association, 1 (1), 86-99.
Dur, R. & Sloof, R. (2015). Canon 16: Economie van Personeel en Organisatie. Economisch
Statistische Berichten , 471-475.
Book/book chapter – refereed
Larouche, P. & Schinkel, M.P. (2015). Continental drift in the treatment of dominant firms: article
102 TFEU in contrast to section 2 Sherman Act. In R.D. Blair & D. Sokol (Eds.), The Oxford
handbook of international antitrust economics. - Vol. 2 (Oxford handbooks in economics) (pp.
153-187). Oxford: Oxford University Press.
Czibor, E. (2015, November 20). Heterogeneity in response to incentives: Evidence from field data.
Universiteit van Amsterdam (v, 155 pag.). Prom./coprom.: prof.dr. C.M. van Praag & prof.dr.
R. Sloof.
Kopányi-Peuker, A.G. (2015, Oktober 14). Endogeneity matters: Essays on cooperation and
coordination. Universiteit van Amsterdam (vii, 171 pag.) (Tinbergen Institute: Amsterdam).
Prom./coprom.: prof.dr. T.J.S. Offerman & prof.dr. R. Sloof.
Rosendahl Huber, L. (2015, April 16). Entrepreneurship, teams and sustainability: A series of field
experiments. Universiteit van Amsterdam (129 pag.) (Amsterdam: Tinbergen Institute).
Prom./coprom.: prof.dr. C.M. van Praag & prof.dr. R. Sloof.
Buser, T., Dreber, A. & Mollerstrom, J. (2015). Stress reactions cannot explain the gender gap in
willingness to compete. (Tinbergen Institute Discussion Paper, no TI 2015-059/I).
Claussen, J., Czibor, E. & Praag, C.M. van (2015). Women Do Not Play Their Aces - The
Consequences of Shying Away from Competition. Bonn: IZA.
Czibor, E., Onderstal, S., Sloof, R. & Praag, M. van (2015). Does relative grading help male students?
Evidence from a field experiment in the classroom. Amsterdam: University of Amsterdam.
Dahl, M.S., Praag, C.M. van & Thompson, P. (2015). Entrepreneurial Couples. Briar Cliff Manor,
NY: Academy of Management.
Gomez-Martinez, F., Onderstal, S. & Sonnemans, J. (2015). Firm-specific information and explicit
collusion in experimental oligopolies. (Tinbergen Institute Discussion Paper, no TI 15-054/I).
talk games. (Tinbergen Institute Discussion Paper, no TI 2015-012/VII).
Guerriero, C. (2015). Endogenous institutions and economic outcomes. Amsterdam: University of
Amsterdam.
91
Haji, A. el & Onderstal, S. (2015). Trading places: an experimental comparison of reallocation
mechanisms for priority queuing. (Tinbergen Institute Discussion Paper, no TI2015-063/VII).
Amsterdam / Rotterdam: Tinbergen Institute.
Kopányi-Peuker, A.G., Offerman, T.J.S. & Sloof, R. (2015). Team production benefits from a
permanent fear of exclusion. (no TI 2015-067/VII). : Tinbergen Institute Discussion Paper.
Rocha, V., Praag, C.M. van & Carneiro, A. (2015). Deviating from the benchmarks: Human capital
inputs and the survival of new startups. DRUID15.
Schinkel, M.P. & Spiegel, Y. (2016). Can collusion promote sustainable consumption and
production? (Amsterdam Law School Legal Studies Research Paper/Amsterdam Center for
Law & Economics Working Paper Working paper, no 2015-49/2015-02). Amsterdam:
He, S., Offerman, T. & Ven, J. van de (2015). The Sources of the Communication Gap. Working
paper.
Kopanyi-Peuker, A., Offerman, T. & Sloof, R. (2015). Probation or Promotion? The Fear of
Exclusion Improves Team-Production. Working paper.
Leeuwen, B. van, Noussair, C., Offerman, T., Suetens, S., Veelen, C.M. van & Ven, J. van de (2015).
Predictably Angry: Facial Cues Provide a Credible Signal of Destructive Behavior. Working
paper.
Onderstal, S. (2015) Tinbergen Institute Organizations & Markets seminar series.
Onderstal, S. (August 21-22, 2015) ABEE 2015, Amsterdam.
Recognition
Buser T. (2015). Christiaan Huygens prize.
Editorship
Guerriero, C. (Ed.). (2011-) International Review of Law and Economics.
Onderstal, S. (2015). Editor TPEdigitaal.
Key note/invited talk
Buser, T. (2015, April). Seminar, University of Toulouse.
Buser, T. (2015, April). Seminar, University of Gothenburg.
Buser, T. (2015, April). Seminar, Stockholm University.
Buser, T. (2015, September). Workshop on Endogenous Preferences and the Broader Effects of
Competition, Amsterdam.
Buser, T. (2015, November). Seminar, University of Vienna.
Buser, T. (2015, December). Seminar, University of Zürich.
Onderstal, S. (2015, February 12). "Does relative grading help male students? Evidence from a field
experiment in the classroom." Seminar CPB, Den Haag.
Onderstal, S. (2015, February 27). "Does relative grading help male students? Evidence from a field
experiment in the classroom." Seminar Saint Louis University, Brussels.
Onderstal, S. (2015, April 2). "Trading Places: An Experimental Comparison of Reallocation
Mechanisms for Priority Queuing" Seminar Tinbergen Institute, Amsterdam.
Onderstal, S. (2015, December 14). "Does relative grading help male students? Evidence from a field
experiment in the classroom." Seminar Paderborn University.
Sloof, R. (2015, May). Seminar, Goethe University, Frankfurt am Main, Germany.
Sloof, R. (2015, December). Seminar, Copenhagen Business School, Denmark.
92
Other lectures
Buser, Th. (2015, June) Maastricht Behavioral and Experimental Economics Symposium.
Buser, Th. (2015, June) Annual Conference of the European Society for Population Economics, Izmir.
Buser, Th. (2015, August) Meeting of the European Economic Association, Mannheim.
Guerriero, C. (2015). Extractive States: The Case of the Italian Unification. IMT Lucca.
Guerriero, C. (2015). Extractive States: The Case of the Italian Unification. CSEF, Naples.
Onderstal, S. (2015, April 25) "Trading Places: An Experimental Comparison of Reallocation
Mechanisms for Priority Queuing" International Industrial Organization Conference
conference, Boston.
Onderstal, S. (2015, July 2) "Trading Places: An Experimental Comparison of Reallocation
Mechanisms for Priority Queuing" Society for Economic Design conference, Istanbul.
Onderstal, S. (2015, August 29) "Trading Places: An Experimental Comparison of Reallocation
Mechanisms for Priority Queuing" EARIE conference, Munich.
Buser, T. (2015). Tinbergen Institute Research Fellow.
Onderstal, S. (2015). Tinbergen Institute Research Fellow.
Onderstal, S. (2015). ACLE research fellow.
Onderstal. S. (2015, October 1). Member PhD committee Hsin-Mien Wang, Bielefeld University (predefense).
Onderstal. S. (2015, November 19). Member PhD committee Xiaoming Cai, VU University
Amsterdam.
Schinkel, M.P. (2015). Member of the Royal Holland Society of Sciences and Humanities
(Koninklijke Hollandsche Maatschappij der Wetenschappen).
Schinkel, M.P. (2015). Research Fellow Tinbergen Institute.
Seldeslachts J. (2015). Research Fellow Tinbergen Institute.
Sloof, R. (2015). Tinbergen Institute Research Fellow.
Sloof, R. (2015). ACLE research fellow.
Ven, J. van de, (2015). Tinbergen Institute Research Fellow.
Ven, J. van de, (2015). ACLE Research Fellow.
Relevant position
Buser, T. (2015). Referee for Quarterly Journal of Economics (3), American Economic Review,
Review of Economic Studies, Management Science (5), Journal of the European Economic
Association, International Economic Review, Games and Economic Behavior, Journal of
Behavioral and Experimental Economics, Israel Science Foundation.
Onderstal, S. (2014). Referee for Bulletin of Economic Research, Economic Theory, European
Economic Review, Experimental Economics, Games, Games and Economic Behavior,
International Economic Review, Journal of Economic Psychology, Journal of Economic
Theory, Journal of Law, Economics, and Organization, Management Science, Mathematical
Social Sciences, TPEdigitaal.
Sloof, R. (2015). Referee for Experimental Economics (5), Journal of Economics and Management
Strategy, Journal of Institutional and Theoretical Economics (2), Journal of Law, Economics
and Organization.
Sloof, R. (2015). Visiting professor at Copenhagen Business School, Department of Innovation and
Organizational Economics.
93
13. SEO ECONOMIC RESEARCH
Subprogrammes:
Labour & Education
Health Care & Social Security
Competition & Regulation
SEO Aviation Economics
Market & State
Financial Markets & Finance
Prof. dr. B.E. Baarsma
uva/feb/ase/seo
I, J, L, Q, R
www.seo.nl
Programme director:
METIS-code:
JEL-classification:
Website:
Title
Function
Total
2013
Total
2014
Total
2015
Funding
dr.
prof. dr.
dr.
oz
hgl
oz
1,00
0,80
-
1,00
0,80
-
1,00
0,80
0,70
3
3
3
drs.
drs.
drs.
msc
msc
dr.
msc
oz
oz
oz
oz
oz
oz
oz
1,00
0,70
1,00
0,20
0,50
1,00
1,00
0,20
1,00
1,00
1,00
1,00
0,17
1,00
0,83
1,00
3
3
3
3
3
3
3
Competition & Regulation
drs.
Hof, B.J.F.
Kerste, M.W.M.
drs.
dr.
Kocsis, V.
dr.
Noll, R. van der
msc
Rosenboom, N.
Rougour, W.
msc
drs.
Tieben, L.A.W.
Weda, J.N.T.
drs.
oz
oz
oz
oz
oz
oz
oz
oz
0,84
1,00
0,74
0,95
1,00
0,75
1,00
1,00
0,95
1,00
0,74
0,95
1,00
1,00
1,00
0,95
0,95
0,74
0,95
1,00
1,00
-
3
3
3
3
3
3
3
3
Labour &
Education
Berg, E. van den
Berkhout, E.E.
Bisschop, P.
Heyma, A.O.J.
Imandt, G.C.M.
Mulder, J.
oz
oz
oz
oz
oz
oz
1,00
1,00
1,00
1,00
0,84
1,00
1,00
1,00
1,00
0,33
0,32
1,00
0,75
1,00
1,00
1,00
0,00
3
3
3
3
3
3
Name
Scientific Staff SEO
Baarsma, B.E.
Koopmans, C.C.
Oomes, N.A.
Market & State
Buiren, K.B. van
Compernolle, P.
Gerritsen, M.
Leussink, L.
Smits, T.C.
Veld, D.L. in 't
Voort, J. van der
drs.
drs.
msc
dr.
msc
drs.
94
Function
oz
oz
oz
oz
Total
2013
1,00
1,00
1,00
Total
2014
0,08
1,00
1,00
Total
2015
0,85
0,25
1,00
Funding
3
3
3
3
Health Care & Social Security
dr.
Berden, C.B.
drs.
Kok, L.M.
msc
Kroon, L.V.
msc
Lammers, M.
drs.
Scholte, R.S.
drs.
Tempelman, D.C.G.
oz
oz
oz
oz
oz
oz
0,84
0,84
1,00
1,00
0,95
0,84
0,84
1,00
1,00
0,95
0,63
0,84
0,33
1,00
1,00
1,00
3
3
3
3
3
3
SEO Aviation Economics
Boonekamp, T.
Burghouwt, G.
Kempen, T.
Krul, J.
Lieshout, R.B.T.
Spijker, V. van
Ubbels, B.J.
Veldhuis, J.G.
Zuidberg, J.
oz
oz
oz
oz
oz
oz
oz
oz
oz
0,33
1,00
0,39
0,18
1,00
0,60
1,00
1,00
1,00
0,43
0,06
1,00
0,21
0,20
1,00
1,00
1,00
0,39
1,00
0,17
0,79
0,02
1,00
3
3
3
3
3
3
3
3
3
oz
oz
oz
oz
0,00
0,00
30,12
0,00
30,12
0,00
0,00
0,00
28,64
0,00
28,64
0,00
0,25
1
1
1
0,00
0,00
31,41
0,00
31,41
0,00
3
3
3
3
Name
Prins, J.
Volkerink, M.D.
Vriend, S.
Werff, S.G. van der
Title
msc
msc
msc
msc
msc
dr.
drs.
drs.
drs.
msc
dr.
drs.
msc
Financial markets and Finance
msc
Biesenbeek, C.
drs.
Kerste, M.W.M.
drs.
Weda, J.W.T.
msc
Rougoor, W.
PhD students
SEO Amsterdam Economics was founded in 1949, by the Economic Faculty of the University of
Amsterdam, to encourage applied research. This makes SEO one of the Netherlands' oldest economic
research agencies. SEO Amsterdam Economics was transformed into a foundation independent from
the University in the nineteen-eighties, although it retains close links with the academic community.
Our clients are many and varied: we work for ministries, companies and institutions in the non-profit
sector, both nationally and internationally. SEO Amsterdam Economics is an independent
organisation: as we are not linked to specific interests or parties, we are often requested to carry
research into 'open questions'. In general, SEO reports are made public to guarantee our autonomy and
scientific quality.
95
SEO Amsterdam Economics is a medium-sized, horizontal organisation. We have a scientific staff of
about 40, the majority of whom are economists or econometricians. As the occasion arises our staff
carry out research in cooperation with scientists from other disciplines.
Structure
SEO Economic Research consists of six research groups or sections organised along fields of
economic research. A first section is Labour & Education which specialises in labour market, labour
market policy, schooling and training research. Research topics deal with employability, transition
from school to work, temporary work, re-integration and exit from unemployment, wage differentials,
employment benefits, migration, schooling and work and the evaluation of educational policies.
The section Financial markets and Finance helps clients with targeted financial-economic research
and advice. Finance is a field that has traditionally been used mainly in the corporate sector, but
nowadays is being used increasingly in the (quasi-)public sector as well. SEO's financial-economic
research and advice focuses on three areas: (1) financial regulation and financing of activities with a
public interest (2) financing of public activities, and (3) the interface between the public and private
sector.
The section Health Care & Social Security analyses developments in healthcare and social security,
with research often shaped by the highly regulated nature of these two sectors. This section specialises
among others in market analyses, effectiveness and cost-benefit studies and budgeting and costing
systems.
Research in the section Competition & Regulation concentrates on the design, analysis and
evaluation of competition and government intervention. The section deals with issues related to the
structure, conduct and performance of markets and sectors, regulation and deregulation, economic
aspects of cartels, mergers, market dominance and other topics in the field of competition. It assesses
new or established regulations and policy from the perspective of law and economics.
SEO Aviation Economics is a section specializing in aviation economics. It advises governments,
airlines, airports, financial institutions and other interested parties on the economic issues related to
aviation. Aviation Economics activities include operations research, econometric analyses and
forecasting, feasibility studies and research into competition and market issues, as well as work in
transport and regional economics.
The Market & State section specialises in the economic analysis of state aid and public tenders.
Economic organization and the boundaries between public and private economic activity are other
issues that are dealt with in this section.
Organisation
SEO Amsterdam Economics is governed by a six-member Executive Board. Day-to-day policy is in
the hands of the general director and the deputy director. Moreover, SEO has a management team,
which consists of the director and the section heads. SEO Economic Research also has an Advisory
Board which meets yearly to review its research programme.
Academic publications by researchers at SEO Amsterdam Economics are often a spin-off from
contract research which is SEO’s core activity. This year 21articles were published in refereed
journals or refereed books. The number of non-refereed academic publications was substantial.
In 2015 SEO researchers published 51 commissioned reports and 43 other publication such as popular
publications and newspaper articles.
96
SEO Amsterdam Economics has set up an internal fund for scientific research which allots time to
researchers working at SEO and which enables them to prepare papers for scientific publications and
to participate in (international) economic conferences. Researchers at SEO Amsterdam Economics
publish regularly in national and international professional journals. Only by publishing and lecturing,
a research institute stays ‘alert’ and keeps abreast of the newest developments in applied economic
research. Core activity is contract research and the majority of research funding originates from
contract parties.
SEO holds an NEN-EN ISO 9001:2008 quality certificate for Applied Economic Research and
Consulting.
13.5 OUTPUT
Key publications
Lindeboom, M., Klauw, B. & Vriend, S. (forthcoming). Audit rates and compliance: A field
experiment in care provision, Journal of Economic Behavior & Organization.
Scholte, R., Van den Berg, G.J., Lindeboom, M., (2015, January). Long-run effects of gestation
during the Dutch Hunger Winter famine on labor market and hospitalization outcomes.
Journal of Health Economics, 39(2015), 17–30.
Burghouwt, G. & De Wit, J.G. (2015, 4 September). In the wake of liberalisation: long-term
developments in the EU air transport market. Transport Policy, 43, (October 2015) 104-113.
Kerste, M., Gerritsen, M. , Weda, J. & Tieben, B. (2015, March). Systemic risk in the energy
sector—Is there need for financial regulation? Energy Policy, 78, 22–30.
Kok, L., Boyle, S, Lammers, M. & Tempelman, C. (2015, 16 April). Remuneration of medical
specialists. Drivers of the differences between six European countries. Health Policy.
Rougoor, W. & Van Marrewijk, C. (2015, October). Demography, Growth, and Global Income
Inequality. World Development 2015(74), 220–232.
Forthcoming
Baarsma, B. & N. Rosenboom (2015). A veritable tower of Babel: On the confusion between the legal
and economic interpretations of Article 101(3) of the Treaty on the Functioning of the
European Union, European Competition Journal.
Fer, A. & B. Baarsma (2015). Rockonomics Revisited: The Rise of Music Streaming Services and the
Effect on the Concert Industry, accepted in: International Journal of Music Business Research
(IJMBR).
Poort, J. & B. Baarsma (2015), Measuring the Welfare Effects of Public Television, accepted in:
Journal of Media Economics.
97
Output type
Classification
Refereed
#
16
Non-refereed
6
Professional
25
Popular
3
Refereed
1
Non-refereed
1
Professional
0
Popular
0
1
PhD theses
0
Working papers
8
Annema, J.A. & Koopmans, C. (2015). The practice of valuing the environment in cost-benefit
analyses in transport and spatial projects, Journal of Environmental Planning and
Management, Vol. 58, No. 9, p. 1635-1648.
Burghouwt, G. & De Wit, J.G. (2015, 4 September). In the wake of liberalistaion: long-term
developments in the EU air transport market. Transport Policy, 43, (October 2015) 104-113.
Kerste, M., Gerritsen, M. , Weda, J. & Tieben, B. (2015, March). Systemic risk in the energy sector—
Is there need for financial regulation? Energy Policy, 78,(March 2015), 22–30.
Kocsis, V., De Bijl, P., Noll, R. van der & Tieben, B. (2015). Reconsidering ex ante Regulation in the
Dutch Electronic Communications Market, Communications & Strategies, no. 98, pp. 61-82
Kok, L., Boyle, S, Lammers, M. & Tempelman, C. (2015, 16 April). Remuneration of medical
specialists. Drivers of the differences between six European countries. Health Policy (2015).
Kok, L., Berden, C. & Sadiraj, K. (2015). Costs and Benefits of home care for the elderly versus
residential care: a comparison using propensity scores. The European Journal of Health
Economics, 16,(2), 119-131.
Lieshout, R., Malighetti, P., Redondi, R. & Burghouwt, G. (2015). The competitive landscape of air
transport in Europe. Journal of Transport Geography.
Lindeboom, M., Klaauw, B. van der & Vriend, S. (2015). Audit rates and compliance: A field
experiment in care provision. Journal of Economic Behavior & Organization.
Poort, J. & Weda, J. (2015). Elvis Is Returning to the Building: Understanding a Decline in
Unauthorized File Sharing. Journal of Media Economics, 28(2), 63-83.
Rougoor, W. & Van Marrewijk, C. (2015, October). Demography, Growth, and Global Income
Inequality. World Development 2015(74), 220–232.
Scholte, R., Van den Berg, G.J., Lindeboom, M., (2015, January). Long-run effects of gestation
during the Dutch Hunger Winter famine on labor market and hospitalization outcomes.
Journal of Health Economics, 39(2015), 17–30.
Suau‐Sanchez, P., Burghouwt, G. & Fageda, X. (2015). Reinterpreting EU Air Transport
Deregulation: A Disaggregated Analysis of the Spatial Distribution of Traffic in Europe,
1990–2009. Tijdschrift voor Economische en Sociale Geografie.
Tempelman, C. & Houkes-Hommes, A. (2015, 10 April). What Stops Dutch Households from Taking
Up Much Needed Benefits? Review of Income and Wealth.
Tieben, B. (2015). Naar markgerichte regulering van netwerksectoren. Tijdschrift voor Toezicht
6(1),38-56.
De Wit, J. & Zuidberg, J. (2015). Route churn: an analysis of low-cost carrier route continuity in
Europe. Journal of Transport Geography.
Zuidberg, J. (2015-2016). The implications of air travel taxes. Journal of Airport Management, 10(1),
64-72.
98
Article in journal – non-refereed
Burghouwt, G. (2015). Connectivity is Key to Competitiveness. Enhancing economic and social
relations between Asia and Europe through aviation connectivity. The World and Chongqing
2015 (16).
Butter, F. den, Kocsis, V. & Tieben, B. (2015), Groene groei: hoe bereiken we dat?, TPEdigitaal, vol.
9(2), pp. 149-165.
Erken, H., Klokkenburg, L. & Werff, S. van der (2015). Kan arbeidsmarktbeleid de positie van
ouderen veranderen?, De Koninklijke Vereniging voor de Staathuishoudkunde, Jaarboek
2015, p. 151.
Helberger, N., Kleinen-von Königslöw, K. & Noll, R. van der (2015) Regulating the new information
intermediaries as gatekeepers of information diversity, Info, Vol. 17 Iss:6, pp. 50-71.
Hof, B. & Kocsis, V. (2015). Effectiviteit van het Nederlandse energiebeleid in 2007-2012:
productiesubsidies voor hernieuwbare energie, TPEdigitaal 2015, jaargang 9(2), 98-110.
Ketel, N. & S. Vriend (2015). Veldexperimenten in de praktijk: opzet, uitvoering en analyse.
TPEdigitaal, 9(3), 4 – 20.
Baarsma, B. (2015, 17 December). Robotangst, Economisch-Statistische Berichten, 100(4723&4724),
757.
Baarsma, B. (2015, 22 October), Accountants, Statistiek: Economie en samenleving, EconomischStatistische Berichten, 100(4719), 621.
Baarsma, B. (2015, 10 September), Onderwijs, markt en overheid, Economisch-Statistische Berichten,
100(4717), 10 september, p. 523.
Baarsma, B. (2015, 4 June). Eén stap vooruit, twee stappen achteruit. Economisch-Statistische
Berichten, 100(4711), 335.
Baarsma, B. (2014, 12 March). Het voorleescircus in de rechtbank. Economisch-Statistische
Berichten, Boeken 100(4705), 143.
Berkhout, E. (2015). Buitenlandse werknemers in Nederland, Statistiek: Economie en samenleving.
Economisch-Statistische Berichten, 100 (4704), 113.
Bingen, L. & Burghouwt, G. (2015). Het marktpotentieel van Europese luchthavens. EconomischStatistische Berichten, 100 (4706), 177.
Bisschop, P. (2015, 24 September). Aantal nieuwe scholen daalt naar dieptepunt. EconomischStatistische Berichten, 100(4718).
Brenninkmeijer, A., B. Baarsma, C. Schouten, E. de Wijs, E. Kortlang, E. van der Molen, F. van Dijk,
H. Hofhuis, J. Winter, J.M. Slagter, J. Moerland, J. Sewalt, K. van Beek, L. Verheij, M.
Snoep, M. Barendrecht, M. van den Oord, M. Scheltema, N. van Oostrom-Streep, O. van
Veldhuizen, P. van Klinken, P. van der Meer Mohr, S. Harchaoui & S. Muller (2015), Zes
suggesties voor verbetering van toegang tot recht, Nederlands Juristenblad. Afl. 27, jaargang
90, 24 July, pp. 1816-1820.
Buiren, K. van & Smits, T. (2015). Kosten per plaatskilometer in het ov, Statistiek: Economie en
samenleving. Economisch-Statistische Berichten, 100 (4702), 49.
Burghouwt, G. & Meijerink, S. (2015). Piekuurcapaciteit op Europese luchthavens. EconomischStatistische Berichten, 100 (4722), 687.
Heyma, A. & Van der Heul, H. (2015, 26 March). De kosteneffectiviteit van re-integratie van
WW’ers. Economisch Statistische Berichten, Dossier Activerende sociale zekerheid,
100(4706S), 14-18.
Hof, B. & Kerste, M. (2015). Rapporteren op naam. Goed Bestuur & Toezicht 2 2015, pp. 16-21.
Kerste, M. & Tieben, B. (2015, December). Financial regulation in the energy sector: jumping the
gun, The Oxford Institute for energy studies, 103(7).
Koopmans, C. (2015). Comfort in het openbaar vervoer, Statistiek: Economie en samenleving.
Economisch-Statistische Berichten, 100 (4708), 241.
Koopmans, C. & Donselaar, P. (2015, 10 September) Een meta-analyse van het effect van R&D op
productiviteit, Economisch-Statistische Berichten, 100(4717).
Kroes, E. & Koopmans, C. (2015, 17 September). Comfort ondergewaardeerd. OV Magazine, 32.
99
Lammers, M. (2015, 9 July). Koopkrachteffecten afschaffing Cer en Wtcg. Economisch-Statistische
Berichten, Boeken 100(4713&4714), 421.
Noll, R. van der (2015, 18 June). Luisteraars bereiken of geld verdienen. Economisch-Statistische
Berichten, Boeken 100(4712), 369.
Nooi, M. de, Berg, M. van den & Koopmans, C. (2015). Хлеба или зрелищ? Анализ социальных
издержек и выгод от проведения Чемпионата мира по футболу в Нидерландах (Brood of
spelen? Maatschappelijke kosten-batenanalyse van het WK voetbal in Nederland).
Kotliarov, M.A., Мегаспортивные мероприятия и развитие территорий - работы зарубежных
авторов, (Megasportevenementen en de ontwikkeling van regio’s -werken van buitenlandse
auteurs), Jekaterinburg, Rusland.
Tieben, B. (2015, 7 May). Waarom vuilnismannen meer verdienen dan bankiers. EconomischStatistische Berichten, Boeken 100(4709), 286.
Veld, D. in ‘t (2015, December). Weinig vertrouwen beleggers in aandelenwaardering, EconomischStatistische Berichten, Boeken 100(4716), 493.
Vermeulen, H., Van Wersch, F., Woudstra, L. & Lammers, M. (2015). Koopkrachtontwikkeling van
ouderen. Vakblad Financiële Planning, November 2015, nr. 11, pp. 2-6.
Weda, J. & Kerste, M. (2015, 21 May). Belastingderving door belastingverdragen. EconomischStatistische Berichten, Boeken 100(4710), 305.
Article in journal– popular scientific
Bisschop, P., Imandt, M & Klein, T. (2015). Meer ruimte voor nieuwe scholen?, Van Twaalf tot
Achttien.
Bisschop, P. & Wartenbergh-Cras, F. (2015, October). Experimenteren met innovaties in het vo. Wat
levert het op? Van Twaalf tot Achttien.
Koopmans, C., Tempelman, C., Marlet, G. & Zwart, R. (2015). Veel meer decentralisatie nodig,
Binnenlands Bestuur, nr. 23.
Baarsma, B. (2015, 6 November). Inspirerende VROUW, De Telegraaf, 6 november, pp 7.
Baarsma, B. (2015, November). Barbara Baarsma geïnterviewd over ‘Dankzij psychologie kun je
robots verslaan, bang over je baan’, Fuel Exact Magazine, pp. 20-21.
Baarsma, B. (2015, 19 September). Woningmarkt belemmert dynamiek. Het Parool, 19 september, pp
44-45.
Baarsma, B. & Rosenboom, N. (2015, 1 May). Onduidelijk kartelverbod stuurt fusies; Volledig
samengaan van ziekenhuizen is reactie op afschrikken van samenwerking in de zorg. Het
Financieele Dagblad, 1 May, p. 11.
Baarsma, B. & Kerste, M. (2015, 21 March). Nederland mag geen belastingparadijs zijn. NRC, Opinie
en Debat, 21 March, 2.
Imandt, M & Werff, S. van der (2015, 10 February). Hogere opleiding loont wél. Brieven, NRC
Handelsblad.
Noll, R. van der (2015, 7 april). Auteursrecht moet niet alleen de makers dienen. Het Financieele
Dagblad, 7 april 2015.
Rougoor, W. & Van Marrewijk, C. (2015, 30 June). Afrikaanse bevolkingsgroei zorgt voor meer
ongelijkheid tussen landen, OneWorld, 30 June.
Rougoor, W. & Kerste, M. (2015, 11 March). Kredietunies niet straffen voor risico’s banken. Het
Financieele Dagblad, Opinie & Dialoog, 220(59), 11.
Tieben, B. & Schoorl, E. (2015). On the surface things seemed quiet: the reception of the German
Historical School in the Netherlands, in J.L. Cardoso and M. Psalidopoulos (eds.), The
German Historical School and European Economic Thought, London: Routledge.
100
Book / book chapter – non-refereed
Baarsma, B. (2015), De smalle lijn tussen beschermen en betuttelen, in: Vijftig jaar advies en overleg
over consumentenzakenken, Bundel ter gelegenheid van 50 jaar CCA, pp. 7-15, Den Haag:
SER.
Internet article – professional
Hof, B. & Kerste, M. (2015, 5 January). Maak bekend hoe bedrijf scoort op corporate governance
code. Mejudice, 5 January.
Tieben, B. (2015, 24 April). Of vuilnismannen meer verdienen dan bankiers.
Web content – popular (column)
Tieben, B. (2015, 23 October). ‘Schaadt splitsen de duurzaamheid?’. Energie Actueel.
Tieben, B. (2015, 19 September). ‘Energieparadijs IJsland’. Energie Actueel.
Tieben, B. (2015, 8 June). ‘Prijzenslag’. Energie Actueel.
Tieben, B. (2015, 17 April). ‘Splitsen of niet splitsen’. Energie Actueel.
Tieben, B. (2015, 18 February). ‘Nul op de meter’. Energie Actueel.
Ubbels, B. (2015, 18 June). MKBA is meer dan een subsidie-instrument. Binnenlands Bestuur.
Conference paper (proceedings) – non-refereed
Baarsma, B. (2015), Over de noodzakelijke hervorming van de arbeidsmarkt – Hoe de flexibiliserende
arbeidsmarkt botst met verouderde instituties. De toekomst van werk: Alles Flex?, Van Mierlo
Symposium 2015, p. 14- 35.
Baarsma, B. & Rougoor, W. (2015). Beter in beeld. SEO-rapport 2015-61. Amsterdam: SEO
Berden, C. & Kok, L. (2015). Verdeling detacheringen en uitzendingen over inlenende werkgevers.
SEO-rapport 2015-02. Amsterdam: SEO.
Berg, E. van den, Heyma, A. & Imandt, M. (2014). Eindrapportage monitor Experimenten Open
Bestel. SEO-Rapport 2014-68. Amsterdam: SEO.
Berkhout, E., Van Leuven, J., Salveda, W. & Tijdens, K. (2015). Beloning van wetenschappelijk
personeel in internationaal perspectief. SEO-rapport 2015-65. Amsterdam: SEO.
Berkhout, E. & Werff, S. van der (2015). Studie & Werk 2015. SEO-rapport 2015-20. Amsterdam:
SEO.
Bisschop, P. & Imandt, M. (2015). De (on)mogelijkheden voor nieuwe scholen in Nederland: Een
verkenning naar de effecten van ‘richtingvrije planning’. SEO-rapport 2015-24. Amsterdam:
SEO.
Boonekamp, T. & Zuidberg, J. (2014). Monitor netwerkkwaliteit en Staatsgaranties. SEO-rapport
2014-63. Amsterdam: SEO.
Boonekamp, T., Lieshout, R. & Burghouwt, G. (2015). 2015 Airport Industry Connectivity Report.
SEO report 2015-45. Amsterdam: SEO.
Breeje, S. den, Groenewoud, P. & Hof B. (2015). Beoordeling doelmatigheid projecten
Noordoostpolder. SEO-rapport 2015-87. Amsterdam: SEO.
Buiren, K.H.S. van & Voort, J. van der (2015). Onderzoek handelsbevordering Koninkrijk. SEOrapport 2015-11. Amsterdam: SEO.
Burghouwt, G. & Lieshout, R. (2014). Airport industry Connectivity report 2004-2014. SEO-report
2015-06. Amsterdam: SEO. Commissioned and published by ACI EUROPE.
Burghouwt, G., Lieshout, R., Boonekamp, T., Spijker, V. van (2015). Benefits of European airspace
modernization. SEO-rapport 2015-83. Amsterdam: SEO.
Burghouwt, G., Veldhuis, J., Boonekamp, T. & De Wit, W. (2015). Market Response to Airport
Capacity Expansion: Additional estimates airline responses. SEO report 2015-43.
Amsterdam: SEO.
101
Burghouwt, G. & De Wit, W. (2015). Review of submissions: competition impacts. SEO report 201542. Amsterdam: SEO.
Burghouwt, G. & De Wit, W. (2015). Scarcity rents and airport charges. SEO report 2015-41.
Amsterdam: SEO.
Burghouwt, G. (2015). On the mechanisms that can potentially influence connectivity outcomes in the
UK. SEO report 2015-40. Amsterdam: SEO.
Heyma, A., Werff, S. van der, Vriend, S., Smulders, H., Cuppen, J. & Brekelmans, J. (2015).
Quickscan 3 – Evaluatie Sectorplannen. SEO-rapport 2015-85. Amsterdam: SEO.
Heyma, A. (2015). Re-integratiedienstverlening in de WW: wat werkt voor wie en wanneer?
(Kosten)effectiviteit naar klantgroepen en moment van inzet voor de WW-instroompopulatie
2008-2010. SEO-rapport 2015-25. Amsterdam: SEO.
Heyma, A., Pater, C., Eck, E. van, Smulders, H., Neuvel, J. & Schipperheyn, R. (2015). Monitor
vakmanschap- en technologieroute; Nulmeting. SEO-rapport 2015-01. Amsterdam: SEO.
Heyma, A., Bisschop, P, Berg, E. van den, Wartenbergh-Cras, F., Kurver, B., Muskens, M. &
Spanjers, I. (2015). Effectmeting InnovatieImpuls Onderwijs; Eindrapport. SEO-rapport
Heyma, A., Werff, S. van der, Volkerink, M., Brekelmans, J. & Smulders, H. (2015). Quickscan 2 –
Evaluatie Sectorplannen. SEO-rapport 2015-32. Amsterdam: SEO.
Hof, B., Kersten, K., Kocsis, V. & Tieben, B. (2015). Nieuwe impulsen voor hernieuwbare
elektriciteitsvoorziening in 2020-2030. SEO-rapport 2015-63. Amsterdam: SEO.
Hof, B., Rosenboom, N. & Werff, S. van der (2015). Consumentengedrag online legale en illegale
kansspelen. SEO-rapport 2015-16. Amsterdam: SEO.
Hof, B, Kocsis, V. & Rougoor, W. (2014). Een lokale divisie vna het eengemaakt octrooigerecht in
Nederland. SEO-rapport 2014-61. Amsterdam: SEO.
Hof, B. & Weda, J. (2014). Openheid over opbrengsten. SEO-rapport 2014-47. Amsterdam: SEO.
Imandt, M., Berg, E. van den, Volkerink, M., Mulder, J., Verbeek, F., Petit, R. & Meng, C. (2015).
Klaar voor de groei? SEO-rapport 2015-67. Amsterdam: SEO.
Imandt, M., Bisschop, P. & Klein, T. (2015). Meer ruimte voor nieuwe scholen? SEO-rapport 201559. Amsterdam: SEO.
Imandt, M. (SEO Economisch Onderzoek) Pater, C. & Van Eck, E. (Kohnstamm Instituut) Smulders,
H. & Schipperheyn, R. (ecbo). (2015). Monitor vakmanschap- en technologieroute: Eerste
tussenmeting: instroom en beleidstheorie. SEO-rapport 2015-23. Amsterdam: SEO.
Kerste, M., Rougoor, W. & Poort, J. (2015). Waarde verlenging 2100 MHz-vergunningen. SEO
rapport 2015-33. Amsterdam: SEO.
Klein, A.S., Waslander, S., Hooge, E., Imandt, M. & Bisschop, P. (2015). Nieuwe toetreders in het
onderwijsstelsel: een verkenning naar de effecten van richtingvrije planning. SEO-rapport
2015-24A. Amsterdam: SEO.
Kocsis, V., Tieben, T. & Den Butter, F. (VU) (2014). Milieu als groene motor van de economie. SEOrapport 2015-07. Amsterdam: SEO.
Kok, L, Berden, C., Berg, E. van den & Koopmans, C. (2015). Het economische belang van
kinderopvang. SEO-rapport 2015-71. Amsterdam: SEO.
Kok, L., Berden, C., Lammers, M., Scholte, R. & Von Bergh, M. (2015). Duurzaamheid
schuldentrajecten. SEO-rapport 2015-73. Amsterdam: SEO.
Kok, L., Van der Lecq, S.G., Lutjens, E., Rosenboom, N., Tieben, B. & Witte, I. (2015).
Verplichtgestelde bedrijfstakpensioenregelingen en het algemeen pensioenfonds. SEO-rapport
Kok, L. & Baarsma, B (2015). Keuzevrijheid in het tweede pijler pensioen. SEO-rapport 2015-03.
Amsterdam: SEO.
Koopmans, C. (2015). Notitie Toetsing Beleidsdoorlichting dienstverlening belastingdienst. SEOrapport 2015-93. Amsterdam: SEO.
Koopmans, C., Smits, T., Ubbels, B. & Voort, J. van der (2015). Terugverdieneffecten van
overheidssteun aan zeehavens. SEO-rapport 2015-09. Amsterdam: SEO.
Lammers, M., Imandt, M. & Heyma, A. (2015). Wordt aan gewerkt.nl. SEO-rapport 2015-54.
Amsterdam: SEO.
102
Lieshout, R., Burghouwt, G., Boonekamp, T. (2015). Economisch belang van de hubfunctie van
Schiphol. SEO report 2015-22. Amsterdam: SEO.
Lieshout, R., Boonekamp, T., Tempelman, C., Burghouwt, G. (2015). Regional economic impact of
airports. SEO report 2015-13. Amsterdam: SEO.
Noll, R. van der, Weda, J. Rougoor, W., Rosenboom, N. & Tempelman, I. (Cordemeyer & Slager)
(2015). Solo of Samen. SEO-rapport 2015-19. Amsterdam: SEO.
Noll, R. van der, Baarsma, B., Rosenboom, N. & Weda, J. (2015). Bij nader inzien. SEO-rapport
Noll, R. van der, Veld, D. in ‘t & Voort, J. van der (2015). Rekenmodel eID-stelsel, berekening van de
verrekenprijs. SEO-rapport 2015-36. Amsterdam: SEO.
Rosenboom, N. & Tieben, B. (2015). Marktmonitor private opleiders van beroepsopleidingen en
trainingen. SEO-rapport 2015-14. Amsterdam: SEO.
Sligte, H.W., Heyma, A.O.J., Van Eck, E. & Van der Mayjden, A.J.H. (2015). De Netwerkschool.
Onderzoek naar werkzame bestanddelen voor vernieuwing van het middelbaar
beroepsonderwijs. Rapportnummer: 933, Kohnstamm Instituut.
Scholte, R. & Lammers, M. (2014). De waarde van diëtetiek voor ziekenhuispatiënten. SEO-rapport
Tempelman, C. (2015). Notitie: Replicatie verdeelmodel Participatiewet 2015. SEO-rapport 2015-77.
Amsterdam: SEO Economisch Onderzoek. Onderzoek in opdracht van SCP en SZW.
Tempelman, C. & Lammers, M. (2015). WOR 736, Buitenlandse seizoensarbeiders. SEO-rapport
Vermeulen, H. Woudstra, L., Van Wersch, F. & Lammers, M. (2015). Koopkrachtontwikkeling
postactieven. ITS-rapport 34001766, SEO-rapport 2015-44. Nijmegen: ITS, Radboud
Universiteit Nijmegen.
Werff, S. van der, Berkhout, E., Imandt, M., Bennaars, H. & Knegt, R. (2015). Uitkeringen bij ontslag
van topfunctionarissen in de (semi-)publieke sector. SEO-rapport 2015-72. Amsterdam: SEO.
Zuidberg, J. (2014). Benchmark luchthavengelden en overheidsheffingen. SEO-Rapport 2014-66.
Amsterdam: SEO.
Berkhout, E. (2015). Weglek van bètatechnisch potentieel. SEO Discussion Paper, 81. Amsterdam:
SEO.
Burghouwt, G., Mendes De Leon, P. & De Wit, J. (2015, January). EU Air Transport Liberalisation
Process, Impacts and Future Considerations. International Transport Forum Discussion Paper
2015-04.
Klaauw, B. van der & Vriend, S. (2015). A nonparametric method for predicting survival
probabilities, Tinbergen Institute Discussion paper no. 15-126.
Lindeboom, M., Klaauw, B. van der & Vriend, S. (2015). The effect of audit regimes on applications
for long-term care, CEPR Discussion Paper no. 10572.
Muller, P., Heyma, A. & van der Klaauw, B (2015, 23 January).Working paper: Comparing methods
to evaluate the effects of job search assistance.
Oomes, N. & Ponamorenko, O. (2015, December). The price of oil depedency: Dutch disease in
Russian regions. Discussion Paper 83. Amsterdam: SEO.
Oomes, N. & Veld, D.L. in ‘t (2015, December). Reforming Economic Institutions in Transition
Economies: What Determines the Speed of Reform?. Discussion Paper 84. Amsterdam: SEO.
Tempelman, C., Koopmans, C., Marlet, G. & Zwart, R. (2015). Opties voor verdere decentralisatie
naar gemeenten, SEO Discussion Paper, 82. Amsterdam: SEO.
Book review
Tieben, B. (2015, 7 May). Waarom vuilnismannen meer verdienen dan bankiers. Economisch
Statistische Berichten, Boeken 100(4709), 286.
103
Burghouwt, G. & Lieshout, R. (2015, 9 December). The Feasibility of Long-Haul Low-Cost
Operations, Airneth Seminar.
Tieben, B & Kocsis, V. (2015, 8 December). Slimme marktprikkels, Netwerk Groene Groei.
Tieben, B & Kocsis, V. (2015, 8 September). Technologische ontwikkeling en groene groei: Lessen
van de endogene groeitheorie, Netwerk Groene Groei.
Media appearance
Baarsma, B. (2015). Barbara Baarsma geeft werktips, BNR Werkverkenners, Amsterdam, 21
September, 7 September, 31 August, 24 August, 10 August, 3 August, 20 July, 13 July, 6
July, 19 June, 15 June, 8 June, 25 May, 18 May.
Baarsma, B. (2015). Barbara Baarsma in het Economen Panel, BNR, Amsterdam, 4 November, 7
October, 9 September, 19 August, 1 July, 27 May, 6 May, 8 April, 18 March, 18 February, 7
January.
Baarsma, B. (2015, 31 October). Barbara Baarsma over hervorming belastingstelsel, Beleggen
International RTLZ.
Baarsma, B. (2015, 20 October). ‘Belastingvoordeel Starbucks is staatssteun’, NOS Nieuwsuur.
Baarsma, B. (2015, 17 October). Over rondvaartboten, Radio 1, Argos, VRPO.
Baarsma, B. (2015, 6 October). Amsterdamse huizenmarkt, BNR.
Baarsma, B. (2015). Hoogleraren en hun bijbaantjes: Zomerserie Met Het Oog Op Morgen, Radio 1.
Baarsma, B. (2015, 26 September). Vrouwen nemen Rembrandt’s Nachtwacht over, Een Vandaag.
Baarsma, B. (2015, 24 September). Moet Brussel belastingontwijking harder aanpakken?, Van Liempt
Live RTL Z.
Baarsma, B. (2015). Barbara Baarsma neemt de kranten door van die ochtend, Radio 4, De Ochtend
Van 4, 4 September, 5 June, 29 April, 6 March, 8 January.
Baarsma, B. (2015, 3 September). Over ZZP’ers, NOS Nieuwsuur.
Baarsma, B. (2015, 31 July). Terugblikken en vooruit kijken, BNR, Amsterdam.
Baarsma, B. (2015, 24 June). Transparantiedebat, BNR Lounge, Amsterdam.
Baarsma, B. (2015, 22 June). Het grote economendebat, FD/BNR Newsroom, Amsterdam.
Baarsma, B. (2015, 18 March). Over haar mooiste formule, De Wereld Draait Door.
Baarsma, B. (2015, 11 February). De Nieuwe Economie. Barbara Baarsma over hoe blijven we
concurrerend?, RTL Z.
Baarsma, B. (2015, 26 January). Barbara Baarsma over Griekenland, De Wereld Draait Door.
Baarsma, B. (2015, 19 January). Economische vragen stellen, De Slimste Mens.
Buiren, K.H.S. van (2015, 17 June). Radio-interview met Koert van Buiren bij Businesasunusual.fm
Curaçao. Inzake handelsbevordering Koninkrijk.
Buiren, K.H.S. van (2015, 1 June). Radio-interview met Koert van Buiren bij Businesasunusual.fm
Curaçao. Inzake handelsbevordering Koninkrijk.
Buiren, K.H.S. van (2015, 23 May). Radio-interview met Koert van Buiren bij Radio Direct Curaçao.
Inzake handelsbevordering Koninkrijk.
Buiren, K.H.S. van (2015, 22 May). Tv-interview met Koert van Buiren bij TV 11 CBA Curaçao.
Inzake handelsbevordering Koninkrijk.
Burghouwt, G. (2015, 27 October) Guillaume Burghouwt over de komst van Ryanair op Schiphol,
Radio 1, Een Vandaag.
Burghouwt, G. (2015, 14 October) Guillaume Burghouwt over de hubfunctie Schiphol, RTL Z / RTL
Nieuws.
Burghouwt, G. (2015, 10 September). Guillaume Burghouwt over de rol van Incheon Seoul Airport
als hub, Korea Broadcasting System (KBS).
Burghouwt, G. (2015, 3 September). Guillaume Burghouwt over mogelijke komst Ryanair op
Schiphol, RTL Z / RTL Nieuws.
104
Burghouwt, G. (2015, 1 September). Guillaume Burghouwt over mogelijke komst Ryanair op
Schiphol, RTL Today.
Heyma, A. (2015). Arjan Heyma geeft werktips, BNR Werkverkenners.
Heyma, A. (2015, 8 May). “Arjan Heyma over effectiviteit in reïntegratie arbeidsmarkt”, Me Judice, 8
May 2015.
Imandt, M (2015, 20 January). BNR, nieuwsradio. Alles wat je moet weten over...het leenstelsel". M.
Imandt licht in een kort vraaggesprek toe wat er op basis van onderzoek te zeggen is over de
effecten van het studievoorschot.
Kok, L. (2015, February). BNR Uitgezocht, Meer banen door korten op doorbetaling zieke
werknemers? L. Kok zegt: "Voor kleine bedrijven is het een enorm risico om iemand in dienst
te nemen als je weet dat je diegene twee jaar moet doorbetalen bij ziekte.
Koopmans, C. (2015, 3 April). BNR, C. Koopmans over de kosten van de stroomstoring in NoordHolland en Flevoland op 27 March 2015.
Koopmans, C. (2015, 14 March). Interview met C. Koopmans over de kosten en baten van de
Rotterdamsebaan, een nieuwe invalsweg voor Den Haag, Radio 1, Argos,
Koopmans, C. (2015, 13 February). C. Koopmans over Spitsheffing, BNR nieuwsradio, De Nationale
Autoshow, http://www.bnr.nl/?service=player&type=fragment&audioId=2472398 en over
een mogelijke snelweg tussen Amsterdam en Rotterdam.
Tieben, B. (2015, 23 December). Bert Tieben over het wegstemmen van de Gas- en Elektriciteitswet
in de Eerste Kamer, Radio 1.
Tieben, B. (2015, 22 December). Bert Tieben over de splitsing Eneco/Delta, Radio 1.
Tieben, B. (2015, 5 October). Bert Tieben over de impact van de splitsing op de duurzaamheid. BNR
Duurzaam, Amsterdam.
Tieben, B. (2015, 29 September). Scheiding van productie en distributie energie, Een Vandaag, online
gepubliceerd.
Werff, S. van der (2015, 11 August). Studenten laten zich in hun studiekeuze te veel leiden door geld,
Radio 1.
Zuidberg, J. (2015, 10 december). Joost Zuidberg over de derde kwartaalresultaten van Maastricht
Aachen Airport, L1 Radio.
Zuidberg, J. (2015, 31 March). Joost Zuidberg over het toekomstperspectief van Lelystad Airport,
RTL Z.
Zuidberg, J. (2015, 31 March). Joost Zuidberg over de nieuwe basis van easyJet op Schiphol en de
toekomst van Lelystad Airport, RTL Nieuws.
Editorship
Burghouwt, G. (2015). Editorial Board Member Journal of Air Transport Management.
Tieben, B. (2015). Member editorial board TPEdigitaal.
Baarsma, B. (2015, 1 December). Facilitator dicsussie ‘Finance seminar’, EBN, Maurtishuis, Den
Haag.
Baarsma, B. (2015, 2 October). Chairman Flair 2015, interbancair evenemnt van de
jongerenverenigingen van Van Landschot, ABN Amro, ING, RABO Bank en SNS, inclusief
interview met minister Dijsselbloem, Amsterdam.
Baarsma, B. (2015, 15 September). ‘Miljoenennota krijgt stofbeurt’, de Haarlemse Prinsjesdaglunch,
Kennemer Business zakennetwerk.
Baarsma, B. (2015, 21 August). Discussiant tijdens congress: ‘Ecperiments for Policy Making’ (paper
on tax evasion and paper on prevention of illegal behaviour with motion sensor lights.
Baarsma, B. (2015, 25 March). Is de Mededingingswet inderdaad een obstakel voor samenwerking in
de eerstelijnszorg? Invitational conference over mededinging in de zorg opent nieuw
perspectief, Zorgpoort Den Haag.
Baarsma, B. (2015, 10 February). Dag 2 – De potentie van Europa kent geen grenzen. ABN AMRO
World Tennis Tournament 2015, Insights live: dé nieuwe economie. Ahoy, Rotterdam.
105
Berg, E. van den (2015, 26 November). Resultaten effectmeting SlimFit. SlimFit kennisdeling,
Utrecht.
Berg, E. van den (2015, 29 January). Nulmeting bureaucratie en oudertevredenheid. NRO, Utrecht.
Boonekamp, T. (2015, 26 November). Ontwikkelingen in he tvrachtwerk van Schiphol,
Luchtvrachtdebat, Lelystad.
Boonekamp, T. & Lieshout, R. (2015, 4 July). Gulf carrier ticket pricing: How much cheaper are
they? 19th ARTS world conference 2015. Singapore.
Buiren, K.H.S. van (2015, 16 June). Handelsbevordering Konkrijk. Koninkrijksconferentie, Curaçao.
Buiren, K.H.S. van (2015, June). Handelsbevordering Koninkrijk. Lezing over de gateway functie van
de Caribische delen van het Koninkrijk in de handel tussen Latijns-Amerika en Nederland.
Willemstad, Curaçao.
Burghouwt, G. (2015, 11 June). De economische betekenis van Schiphol voor de metropoolregio.
Presentatie voor Bestuurs Regio Schiphol.
Burghouwt, G. (2015, 21 May). Anatomy of an aviation strategy: lessons from Holland. Key note
speech at the Danish Aviation Day, Copenhagen, Denmark.
Burghouwt, G. (2015, 17 May). Development of a new hub index and low-cost carrier development in
Europe. Lecture at Incheon International Airport, Republic of Korea.
Burghouwt, G. (2015, 27 April). Airline connectivity in the Europe-Asia market: opportunities for
growth. Key note speech at the ASEM Industry Dialogue on Connectivity, 27-28 May,
Chongqing (China).
Burghouwt, G. (2015, 15 April). De economische betekenis van Schiphol voor de metropoolregio.
Provincie Noord-Holland, Amsterdam.
Burghouwt, G. (2015, 19 February). Catchment area analysis. Presentation at Network Planning
Society Schiphol Group, Schiphol Airport.
Burghouwt, G. (2015, 5 February). De economische betekenis van Schiphol voor de metropoolregio.
Schiphol dag Provincie Noord-Holland, Amsterdam.
Burghouwt, G. (2015, 15 October). The regional economic impact of airports. Presentation at the ACI
Europe Economics Committee, Milan.
Heyma, A. (2015, 8 December). Presentation: Ouderenwerkloosheid; feiten en mythes, OVAL,
Nieuwegein.
Heyma, A. (2015, 13 November). Presentation: Ontwikkelingen Europese arbeidsmigratie in
Nederland, ABU International, Maarssen.
Heyma, A. (2015, 16 October). Presentation: Estimating the impact of labour participation on the
retention of highly skilled migrants, UvA/DAMR seminar on ‘Highly Skilled Migration,
Amsterdam.
Heyma, A. (2015, 9 September). Reflectie economische agenda Noord-Holland, deelname aan
bijeenkomst van Provincie Noord Holland, Haarlem.
Heyma, A. (2015, 25 June). ‘De Nederlandse Arbeidsmarkt, Flexibilsering’, Premeeting van
TNO/CBS Symposium, Amsterdam.
Heyma, A. (2015, 18 May). Presentation: Effecten experimenten IIO. Directies Primair Onderwijs en
Voortgezet Onderwijs van het ministerie van Onderwijs, Cultuur en Wetenschap, Den Haag.
Heyma, A. (2015, 11 May). Presentation: Evaluatie Experiment de Netwerkschool; Resultaten
effectmeting en verklarende evaluatie. Lunchlezing ecbo, Den Bosch.
Heyma, A. (2015, 30 March). UWV Symposium activerende sociale zekerheid, discussie tijdens ESBdossier.
Heyma, A. (2015, 17 March). Evaluatie Wwz, expertmeeting, ministerie van SZW.
Heyma, A. (2015, 12 February). Presentation: Methoden voor effectevaluatie. Het cluster
beleidsevaluatie van de Directie FEZ bij het ministerie van Sociale Zaken en
Werkgelegenheid, Den Haag.
Hof, B. (2015, 8 May). Presentation: Effectiveness of Dutch Energy Policy in 2007 – 2012”.
Mannheim Energy Conference 2015, Mannheim.
Imandt, M. (2015, 16 November). Klaar voor de groei?, Overdrachtsbijeenkomst van het Landelijk
Platform Ad, Hogeschool Rotterdam.
Imandt, M. (2015, 29 May). De (on)mogelijkheden van schoolstichting. Uitkomsten van een
onderzoek naar de huidige situatie in Nederland. NGVO-studiedag, Dordrecht.
106
Kocsis, V. (2015, 19 June). Presentation: Effectiveness of Dutch Energy Policy in 2007 – 2012, 2nd
International Conference on Energy and Environment 2015, Guimaraes, Portugal.
Kok, L. (2015, 3 September). Presentation: Verdienmodel van de farmaceutische industrie. NFU,
Utrecht.
Kok, L. (2015, 1 May). Presentation: Financiële prikkels zorgaanbieders. Vrije Universiteit,
Amsterdam.
Koopmans, C. (2015, 3 April). Nut en noodzaak van beleidsevaluatie, Ministry of Economic Affairs,
The Hague.
Koopmans, C. (2015, 28 August). Carl Koopmans over de blackbox van economen. Me Judice, online
gepubliceerd
http://www.mejudice.nl/video/detail/carl-koopmans-over-de-blackbox-vaneconomen
Tieben, B. (2015, 26 November). Presentation Maatschappelijke kosten-batenanalyse: de
ontwikkeling van toegepaste welvaartstheorie, Bijeenkomst Nederlands Economisch Denken,
Amsterdam.
Tieben, B. (2015, 1 July). Presentation Future regulation of Electronic Communications in the
Netherlands, ACM, The Hague.
Tieben, B. (2015, 19 June). Presentation Regulating telecommucation markets. Negotation as a
regulatory alternative. Seminar ‘Toekomst van de netwerkregulering: de kracht van
onderhandeling’, PWC, The Hague.
Tieben, B. (2015, 16 April). Presentation Private opleiders van beroepsopleidingen en trainingen.
Marktmonitor 2014, NRTO, Den Haag.
Tieben, B. (2015, 3 March). Presentation Bureaucratie en Besparing: Belemmeringen voor Burgers,
Borgingscommissie Energieakkoord. Sociaal-Economische Raad, Den Haag.
Ubbels, B. (2015, 28 January). Bereikbaarheid, MKBA en bekostiging: De MKBA is meer dan alleen
maar een instrument om subsidie op te halen. Dag van de lightrail, Den Haag.
Veldt, D.L. in ‘t (2015, 19 August). Presentation: “Booms, busts and behavioural heterogeneity in
stock prices”. 42nd Meeting of the European Finance Association (EFA2015), Wenen.
Veldt, D.L. in ‘t (2015, 9 July). Presentation: “The formation of a core periphery structure in
heterogeneous financial networks”. Banque de France Dynamic Networks Conference, Parijs.
Zuidberg, J. (2015, 31 March). Air travel tax in The Netherlands: introduction, effects and abolishing.
Presentation and panel discussion for the opening of the EasyJet base at Schiphol, FOAM,
Amsterdam.
Zuidberg, J. (2015, 6 October). Fiscal measures to reduce labour costs of the Dutch aviation industry.
Airneth seminar on labour conditions in the European aviation industry, The Hague.
Other Lectures
Baarsma, B. (2015, 30 November). Nut en noodzaak van economische groei en herziening van het
belastingstelsel; Een gewaarschuwd ondernemer telt voor twee, Lezing voor Laetus, Kasteel
Wijenburg, Echteld.
Baarsma, B. (2015). Nederland misbruikparadijs?, College voor Bofeb, Amsterdam, 21 January & 24
November.
Baarsma, B. (2015). Mededingingstoezicht en publieke belangen, College voor Bofeb, Amsterdam, 21
January & 24 November.
Baarsma, B. (2015, 26 November). Fact & Fiction: analyse van de actualiteiten van de financiële
economie, Lezing tijdens Voormorgen.nu, Beurs van Berlage, Amsterdam.
Baarsma, B. (2015, 24 November). Nut en noodzaak van economische groei en van herziening van
het belastingstelsel, Lezing tijdens Ledenevent, Rabobank West-Friesland, Hoorn.
Baarsma, B. (2015). Deel I: Afgenomen vertrouwen en (over)regulering financiële sector, Deel II:
Trends die relevant zijn of worden voor uw klanten; Deel III: Gedragseconomische inzichten
voor financiële dienstverleners, Lezing in het kader van het executive programma voor
Rabobank Amsterdam, Amsterdam Business School, UvA.
Baarsma, B. (2015, 11 November). Nut en noodzaak van economische groei; Veranderstuipen vanuit
macro-economisch perspectief, Lezing tijdens Foodservice Network & Zorgnetwerk, 11
november 2015, Efteling, Kaatsheuvel.
107
Baarsma, B. (2015, 5 November). Nut en noodzaak van herziening van het belastingstelsel; Een
gewaarschuwd ondernemer telt voor twee, Lezing tijdens Contacta.nl, Zeelandhallen, Goes.
Baarsma, B. (2015, 14 October). Gedragseconomische inzichten voor financials, Lezingen tijdens
Exact Live – The next big thing, Jaarbeurs Utrecht.
Baarsma, B. (2015, 13 October). Over economische groei en herverdeling in Europa en in Nederland,
Lezing tijdens FEM Knowledge tour, Faculteit Economie en Management, Hogeschool van
Arnhem en Nijmegen.
Baarsma, B. (2015, 8 October). Over wat er niet in de Miljoenennota staat, maar wat er wel in had
moeten staan, Lezing tijdens Prinsjesdagbijeenkomst, Rabobank Stad en Midden Groningen,
Groningen.
Baarsma, B. (2015, 29 September). Over wat er niet in de Miljoenennota staat, maar wat er wel in had
moeten staan – Lessen voor Nederland en Overijssel, Lezing in het kader van de
lezingencyclus De Wijzen in het Oosten, Trendbureau Overijssel, Zwolle.
Baarsma, B. (2015, 22 September). De verwarde organisatie, Lezing tijdens BDO Publieke Sector
Congres, BDO, Utrecht.
moeten staan, Lezing tijdens Prinsjesdagbijeenkomst, Rabobank Hart van Brabant,
Oisterwijk.
moeten staan, Lezing tijdens de Prinsjesdagbijeenkomst, KPMG/Rabobank/Dirkzwager,
Arnhem.
moeten staan, Lezing tijdens de Prinsjesdagontbijt, KPMG/Adecco/Aon/Banning, Den Bosch.
moeten staan, Lezing tijdens de Haarlemse Prinsjesdaglunch, Kennemer Business
zakennetwerk, Haarlem.
Baarsma, B. (2015, 8 September). De toekomst is grenzeloos dichtbij, Lezing tijdens Sallandse
Ondernemersavond, Rabobank Salland, Deventer.
Baarsma, B. (2015, 1 September). Groeikansen in verschillende EU landen vanuit macro-economisch
perspectief, Lezing tijdens Lunch & Learn sessie, Syntrus Achmea Real Estate & Finance,
Amsterdam.
Baarsma, B. (2015, 1 July). De economie van de participatiesamenleving. De Bijeenkomst ‘Over de
Brug met…’, JSO, Gouda.
Baarsma, B. (2015, 18 June) Een slimme overheid is op haar toekomst voorbereid Arbeidsproductiviteitsgroei als sleutel voor economische groei. Het Smart Government
Congres, Jaarbeurs Utrecht.
Baarsma, B. (2015, 11 June). Discussie tijdens de High Growth Forum 2015. Port4Growth, Maarssen.
Baarsma, B. (2015, 5 June). Parkeren in Amsterdam – De economische kant. Cursus Parkeerbeleid
voor DIVV, Amsterdam.
Baarsma, B. (2015, 28 May). Veranderende arbeidsmarkt; Turbulente tijden voor UWV,
Managenettop UWV, Zwolle.
Baarsma, B. (2015, 22 May). Over de noodzakelijke hervorming van de arbeidsmarkt. Van Mierlo
Symposium 2015, Utrecht: Mr. Hans van Mierlo Stichting.
Baarsma, B. (2015, 21 May). Nut en noodzaak van economische groei - Macro-economische
ontwikkelingen in en rond Nederland, Rabobank Alblasserwaard Vijfheerenlanden,
Gorinchem.
Baarsma, B. (2015, 21 May). De economie van decentralisatie en participatie. Divosa
Voorjaarscongres 2015 ‘Is het nog ver?’, Martini plaza, Groningen.
Baarsma, B. (2015, 18 May). Macro-economische ontwikkelingen in en rond Nederland. Rabobank
Arnhem en Omstreken, Rabobank, Duiven.
Baarsma, B. (2015, 25 April). Tegen de stroom in: op naar meer leden. Rotary Club, District 1570,
DISCON 2015, Figi, Zeist.
Baarsma, B. (2015, 23 April). Enige feiten en cijfers over zzp-ers. De ronde tafel van Bovib,
Amsterdam.
108
Baarsma, B. (2015, 16 April). Macro economische groei en de haven van Rotterdam. Het
Havencongres, LantarenVenster, Rotterdam.
Baarsma, B. (2015, 13 April). Market failure, gouverment failure & public interest, College voor
Hounours course ‘Economich Policy Analysis, UvA/FEB.
Baarsma, B. (2015). Economisch perspectief op overheidsingrijpen – Wat is publiek belang’ en
‘Maatschappelijke kosten-batenanalyes’, Cursus in drie dagdelen voor de Academie voor
Wetgeving, Den Haag, 3 March, 10 March & 17 March.
Baarsma, B. (2015, 2 & 3 March). Nut en noodzaak van economische groei - Macro-economische
ontwikkelingen in en rond Nederland. Rabobank Het Groene Woud., Oisterwijk.
Baarsma, B. (2015, 26 February) Leidt de provincie Gelderland aan Dutch disease en multiplierwanen?. Nacht van de Gelderse economie, Nijmegen.
Baarsma, B. (2015, 10 February). Grexit, Brexit and economic growth. ABN AMRO World Tennis
Tournament, Rotterdam.
Baarsma, B. (2015, 22 January). Arbeidsmarkt en arbeidsproductiviteit, sleutel voor economische
groei. Nieuwjaarsdebat ‘Nederland in 2015 arbeidsproductiever’, Naarden-Vesting: Falke
Verbaan.
Baarsma, B. (2015, 22 January). Waarom is onze economische groei zo fragiel? In the long run we are
all dead. 1e Malmberg Economie Docentencongres, Amsterdam: Beurs van Berlage.
Baarsma, B. (2015, 15 January). Nut en noodzaak economische groei. De Nieuwjaarsbijeenkomst van
de Kring van Amsterdamse Economen, Amsterdam.
Boonekamp, T. (2015). Airport connectivity performance in Europe and regional economic growth
Buiren, K.H.S. van (2015, 3 November). Services of General Economic Interest, Where Law and
Economics Meet, Brussel.
Burghouwt, G. (2015, April). Visiting professor at the University of Bergamo for the transport
economics and management course.
Burghouwt, G. (2015, 17 April). Guest lecture: Airport connectivity and competition between hubs.
University of Westminster, London.
Burghouwt, G. (2015, 17 September). Hub-and-spoke networks. Gastcollege NHTV Breda.
Kerste, M. & Weda, J. (2015, 19 March). Bijzondere Financiële Instellingen. Holland Quaestor
Young Professionals, Amsterdam.
Koopmans, C. (2015). Cursus Beleidsevaluatie gegeven, Ministerie van Economische Zaken.
Koopmans, C. (2015). Cursus Parkeerbeleid voor de gemeente Amsterdam, Verkeer en openbare
Ruimte.
Tieben, B. (2015). Economic Thought in Historical Perspective, 16 weken college, Amsterdam
University College.
Tieben, B & Kocsis, V. (2015, 30 November). Telecomregulering. Gastcollege Mastervak Regulation,
UvA.
Weda, J. (2015, 12 February). Keuzemogelijkheden en overstapgedrag zakelijk postvervoer. Kennis
& Netwerk Plaza VGP, AddComm, Amersfoort.
Weda, J. & Noll, R. van der (2015, 17 January). Flexibel rechtenbeheer. Eurosonic Noorderslag,
Groningen.
Zuidberg, J. (2015, 17 February). The impact of air travel taxes. University of Westminster, Londen.
Baarsma, B. (2015). Member of PhD committee of Rob Wagenvoord, Essay on co-assurance, UvA.
Baarsma, B. (2015). Member of PhD committee of Joost Poort, Empiricial Economic Essays on
Telecommunication, Media & Copyright, UvA.
Relevant position
Baarsma, B. (2015, April-June). Voorzitter begeleidingscommissie Zaakzwaarte, Raad voor de
Rechtspraak.
Baarsma, B. (2015). Referee B.E. Journal of Economic Analysis & Policy.
Baarsma, B. (2015). Full professor, University of Amsterdam.
109
Buiren, K.H.S. (2015). Member Expert Group on Public Finance, CBS.
Burghouwt, G. (2015). Director Airneth.
Burghouwt, G. (2015). Member Scientific Board International Center for Competitiveness Studies in
the Air Transport Industry, Italy.
Burghouwt, G. (2015). Referee for Journal of Air Transport Management, Transportation Research
A.
Burghouwt, G. (2015). Member Scientific Board European Aviation Conference.
Heyma, A. (2015). Member Expertgroep Arbeid, CBS.
Heyma,
A.
(2015,
December).
Member
Wetenschappelijke
Adviesraad
UWV
Klangerichtheidsmonitor.
Heyma, A. (2015, July). Member Beoordelingscommissie ‘Excellent onderwijs NRO.
Kok, L.(2015). Referee Health Policy.
Koopmans, C. (2015). Full professor, VU University, Amsterdam.
Lieshout, R. (2015). Program manager Airneth.
110
University of Amsterdam
Amsterdam School of Economics
Research Institute
www.aseri.uva.nl
Roetersstraat 11
1018 WB Amsterdam
The Netherlands
T +31 20 525 4276
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Annual Research report 2015 - ASE

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