Project acronym ACAP
Project Acency Costs and Asset Pricing
Researcher (PI) Thomas Mariotti
Host Institution (HI) FONDATION JEAN-JACQUES LAFFONT,TOULOUSE SCIENCES ECONOMIQUES
Call Details Starting Grant (StG), SH1, ERC-2007-StG
Summary The main objective of this research project is to contribute at bridging the gap between the two main branches of financial theory, namely corporate finance and asset pricing. It is motivated by the conviction that these two aspects of financial activity should and can be analyzed within a unified framework. This research will borrow from these two approaches in order to construct theoretical models that allow one to analyze the design and issuance of financial securities, as well as the dynamics of their valuations. Unlike asset pricing, which takes as given the price of the fundamentals, the goal is to derive security price processes from a precise description of firm’s operations and internal frictions. Regarding the latter, and in line with traditional corporate finance theory, the analysis will emphasize the role of agency costs within the firm for the design of its securities. But the analysis will be pushed one step further by studying the impact of these agency costs on key financial variables such as stock and bond prices, leverage, book-to-market ratios, default risk, or the holding of liquidities by firms. One of the contributions of this research project is to show how these variables are interrelated when firms and investors agree upon optimal financial arrangements. The final objective is to derive a rich set of testable asset pricing implications that would eventually be brought to the data.
Summary
The main objective of this research project is to contribute at bridging the gap between the two main branches of financial theory, namely corporate finance and asset pricing. It is motivated by the conviction that these two aspects of financial activity should and can be analyzed within a unified framework. This research will borrow from these two approaches in order to construct theoretical models that allow one to analyze the design and issuance of financial securities, as well as the dynamics of their valuations. Unlike asset pricing, which takes as given the price of the fundamentals, the goal is to derive security price processes from a precise description of firm’s operations and internal frictions. Regarding the latter, and in line with traditional corporate finance theory, the analysis will emphasize the role of agency costs within the firm for the design of its securities. But the analysis will be pushed one step further by studying the impact of these agency costs on key financial variables such as stock and bond prices, leverage, book-to-market ratios, default risk, or the holding of liquidities by firms. One of the contributions of this research project is to show how these variables are interrelated when firms and investors agree upon optimal financial arrangements. The final objective is to derive a rich set of testable asset pricing implications that would eventually be brought to the data.
Max ERC Funding
1 000 000 €
Duration
Start date: 2008-11-01, End date: 2014-10-31
Project acronym AIDA
Project Architectural design In Dialogue with dis-Ability Theoretical and methodological exploration of a multi-sensorial design approach in architecture
Researcher (PI) Ann Heylighen
Host Institution (HI) KATHOLIEKE UNIVERSITEIT LEUVEN
Call Details Starting Grant (StG), SH2, ERC-2007-StG
Summary This research project is based on the notion that, because of their specific interaction with space, people with particular dis-abilities are able to appreciate spatial qualities or detect misfits in the environment that most architects—or other designers—are not even aware of. This notion holds for sensory dis-abilities such as blindness or visual impairment, but also for mental dis-abilities like autism or Alzheimer’s dementia. The experiences and subsequent insights of these dis-abled people, so it is argued, represent a considerable knowledge resource that would complement and enrich the professional expertise of architects and designers in general. This argument forms the basis for a methodological and theoretical exploration of a multi-sensorial design approach in architecture. On the one hand, a series of retrospective case studies will be conducted to identify and describe the motives and elements that trigger or stimulate architects’ attention for the multi-sensorial spatial experiences of people with dis-abilities when designing spaces. On the other hand, the research project will investigate experimentally in real time to what extent design processes and products in architecture can be enriched by establishing a dialogue between the multi-sensorial ‘knowing-in-action’ of people with dis-abilities and the expertise of professional architects/designers. In this way, the research project aims to develop a more profound understanding of how the concept of Design for All can be realised in architectural practice. At least as important, however, is its contribution to innovation in architecture tout court. The research results are expected to give a powerful impulse to quality improvement of the built environment by stimulating and supporting the development of innovative design concepts.
Summary
This research project is based on the notion that, because of their specific interaction with space, people with particular dis-abilities are able to appreciate spatial qualities or detect misfits in the environment that most architects—or other designers—are not even aware of. This notion holds for sensory dis-abilities such as blindness or visual impairment, but also for mental dis-abilities like autism or Alzheimer’s dementia. The experiences and subsequent insights of these dis-abled people, so it is argued, represent a considerable knowledge resource that would complement and enrich the professional expertise of architects and designers in general. This argument forms the basis for a methodological and theoretical exploration of a multi-sensorial design approach in architecture. On the one hand, a series of retrospective case studies will be conducted to identify and describe the motives and elements that trigger or stimulate architects’ attention for the multi-sensorial spatial experiences of people with dis-abilities when designing spaces. On the other hand, the research project will investigate experimentally in real time to what extent design processes and products in architecture can be enriched by establishing a dialogue between the multi-sensorial ‘knowing-in-action’ of people with dis-abilities and the expertise of professional architects/designers. In this way, the research project aims to develop a more profound understanding of how the concept of Design for All can be realised in architectural practice. At least as important, however, is its contribution to innovation in architecture tout court. The research results are expected to give a powerful impulse to quality improvement of the built environment by stimulating and supporting the development of innovative design concepts.
Max ERC Funding
1 195 385 €
Duration
Start date: 2008-05-01, End date: 2013-10-31
Project acronym ALMP_ECON
Project Effective evaluation of active labour market policies in social insurance programs - improving the interaction between econometric evaluation estimators and economic theory
Researcher (PI) Bas Van Der Klaauw
Host Institution (HI) STICHTING VU
Call Details Starting Grant (StG), SH1, ERC-2007-StG
Summary In most European countries social insurance programs, like welfare, unemployment insurance and disability insurance are characterized by low reemployment rates. Therefore, governments spend huge amounts of money on active labour market programs, which should help individuals in finding work. Recent surveys indicate that programs which aim at intensifying job search behaviour are much more effective than schooling programs for improving human capital. A second conclusion from these surveys is that despite the size of the spendings on these programs, evidence on its effectiveness is limited. This research proposal aims at developing an economic framework that will be used to evaluate the effectiveness of popular programs like offering reemployment bonuses, fraud detection, workfare and job search monitoring. The main innovation is that I will combine economic theory with recently developed econometric techniques and detailed administrative data sets, which have not been explored before. While most of the literature only focuses on short-term outcomes, the available data allow me to also consider the long-term effectiveness of programs. The key advantage of an economic model is that I can compare the effectiveness of the different programs, consider modifications of programs and combinations of programs. Furthermore, using an economic model I can construct profiling measures to improve the targeting of programs to subsamples of the population. This is particularly relevant if the effectiveness of programs differs between individuals or depends on the moment in time the program is offered. Therefore, the results from this research will not only be of scientific interest, but will also be of great value to policymakers.
Summary
In most European countries social insurance programs, like welfare, unemployment insurance and disability insurance are characterized by low reemployment rates. Therefore, governments spend huge amounts of money on active labour market programs, which should help individuals in finding work. Recent surveys indicate that programs which aim at intensifying job search behaviour are much more effective than schooling programs for improving human capital. A second conclusion from these surveys is that despite the size of the spendings on these programs, evidence on its effectiveness is limited. This research proposal aims at developing an economic framework that will be used to evaluate the effectiveness of popular programs like offering reemployment bonuses, fraud detection, workfare and job search monitoring. The main innovation is that I will combine economic theory with recently developed econometric techniques and detailed administrative data sets, which have not been explored before. While most of the literature only focuses on short-term outcomes, the available data allow me to also consider the long-term effectiveness of programs. The key advantage of an economic model is that I can compare the effectiveness of the different programs, consider modifications of programs and combinations of programs. Furthermore, using an economic model I can construct profiling measures to improve the targeting of programs to subsamples of the population. This is particularly relevant if the effectiveness of programs differs between individuals or depends on the moment in time the program is offered. Therefore, the results from this research will not only be of scientific interest, but will also be of great value to policymakers.
Max ERC Funding
550 000 €
Duration
Start date: 2008-07-01, End date: 2013-06-30
Project acronym ANXIETY & COGNITION
Project How anxiety transforms human cognition: an Affective Neuroscience perspective
Researcher (PI) Gilles Roger Charles Pourtois
Host Institution (HI) UNIVERSITEIT GENT
Call Details Starting Grant (StG), SH3, ERC-2007-StG
Summary Anxiety, a state of apprehension or fear, may provoke cognitive or behavioural disorders and eventually lead to serious medical illnesses. The high prevalence of anxiety disorders in our society sharply contrasts with the lack of clear factual knowledge about the corresponding brain mechanisms at the origin of this profound change in the appraisal of the environment. Little is known about how the psychopathological state of anxiety ultimately turns to a medical condition. The core of this proposal is to gain insight in the neural underpinnings of anxiety and disorders related to anxiety using modern human brain-imaging such as scalp EEG and fMRI. I propose to enlighten how anxiety transforms and shapes human cognition and what the neural correlates and time-course of this modulatory effect are. The primary innovation of this project is the systematic use scalp EEG and fMRI in human participants to better understand the neural mechanisms by which anxiety profoundly influences specific cognitive functions, in particular selective attention and decision-making. The goal of this proposal is to precisely determine the exact timing (using scalp EEG), location, size and extent (using fMRI) of anxiety-related modulations on selective attention and decision-making in the human brain. Here I propose to focus on these two specific processes, because they are likely to reveal selective effects of anxiety on human cognition and can thus serve as powerful models to better figure out how anxiety operates in the human brain. Another important aspect of this project is the fact I envision to help bridge the gap in Health Psychology between fundamental research and clinical practice by proposing alternative revalidation strategies for human adult subjects affected by anxiety-related disorders, which could directly exploit the neuro-scientific discoveries generated in this scientific project.
Summary
Anxiety, a state of apprehension or fear, may provoke cognitive or behavioural disorders and eventually lead to serious medical illnesses. The high prevalence of anxiety disorders in our society sharply contrasts with the lack of clear factual knowledge about the corresponding brain mechanisms at the origin of this profound change in the appraisal of the environment. Little is known about how the psychopathological state of anxiety ultimately turns to a medical condition. The core of this proposal is to gain insight in the neural underpinnings of anxiety and disorders related to anxiety using modern human brain-imaging such as scalp EEG and fMRI. I propose to enlighten how anxiety transforms and shapes human cognition and what the neural correlates and time-course of this modulatory effect are. The primary innovation of this project is the systematic use scalp EEG and fMRI in human participants to better understand the neural mechanisms by which anxiety profoundly influences specific cognitive functions, in particular selective attention and decision-making. The goal of this proposal is to precisely determine the exact timing (using scalp EEG), location, size and extent (using fMRI) of anxiety-related modulations on selective attention and decision-making in the human brain. Here I propose to focus on these two specific processes, because they are likely to reveal selective effects of anxiety on human cognition and can thus serve as powerful models to better figure out how anxiety operates in the human brain. Another important aspect of this project is the fact I envision to help bridge the gap in Health Psychology between fundamental research and clinical practice by proposing alternative revalidation strategies for human adult subjects affected by anxiety-related disorders, which could directly exploit the neuro-scientific discoveries generated in this scientific project.
Max ERC Funding
812 986 €
Duration
Start date: 2008-11-01, End date: 2013-10-31
Project acronym AORVM
Project The Effects of Aging on Object Representation in Visual Working Memory
Researcher (PI) James Robert Brockmole
Host Institution (HI) THE UNIVERSITY OF EDINBURGH
Call Details Starting Grant (StG), SH3, ERC-2007-StG
Summary One’s ability to remember visual material such as objects, faces, and spatial locations over a short period of time declines with age. The proposed research will examine whether these deficits are explained by a reduction in visual working memory (VWM) capacity, or an impairment in one’s ability to maintain, or ‘bind’ appropriate associations among pieces of related information. In this project successful binding is operationally defined as the proper recall or recognition of objects that are defined by the conjunction of multiple visual features. While tests of long-term memory have demonstrated that, despite preserved memory for isolated features, older adults have more difficulty remembering conjunctions of features, no research has yet investigated analogous age related binding deficits in VWM. This is a critical oversight because, given the current state of the science, it is unknown whether these deficits are specific to the long-term memory system, or if they originate in VWM. The project interweaves three strands of research that each investigate whether older adults have more difficulty creating, maintaining, and updating bound multi-feature object representations than younger adults. This theoretical program of enquiry will provide insight into the cognitive architecture of VWM and how this system changes with age, and its outcomes will have wide ranging multi-disciplinary applications in applied theory and intervention techniques that may reduce the adverse consequences of aging on memory.
Summary
One’s ability to remember visual material such as objects, faces, and spatial locations over a short period of time declines with age. The proposed research will examine whether these deficits are explained by a reduction in visual working memory (VWM) capacity, or an impairment in one’s ability to maintain, or ‘bind’ appropriate associations among pieces of related information. In this project successful binding is operationally defined as the proper recall or recognition of objects that are defined by the conjunction of multiple visual features. While tests of long-term memory have demonstrated that, despite preserved memory for isolated features, older adults have more difficulty remembering conjunctions of features, no research has yet investigated analogous age related binding deficits in VWM. This is a critical oversight because, given the current state of the science, it is unknown whether these deficits are specific to the long-term memory system, or if they originate in VWM. The project interweaves three strands of research that each investigate whether older adults have more difficulty creating, maintaining, and updating bound multi-feature object representations than younger adults. This theoretical program of enquiry will provide insight into the cognitive architecture of VWM and how this system changes with age, and its outcomes will have wide ranging multi-disciplinary applications in applied theory and intervention techniques that may reduce the adverse consequences of aging on memory.
Max ERC Funding
500 000 €
Duration
Start date: 2008-09-01, End date: 2011-08-31
Project acronym BIOCERENG
Project Bioceramics: Multiscale Engineering of Advanced Ceramics at the Biology Interface
Researcher (PI) Kurosch Rezwan
Host Institution (HI) UNIVERSITAET BREMEN
Call Details Starting Grant (StG), PE6, ERC-2007-StG
Summary In the last decades, Materials Sciences and Life Sciences, two highly dynamically evolving and interdisciplinary research areas, have been influencing natural and engineering sciences significantly, creating new challenges and opportunities. A prime example for an increasing synergetic overlap of Materials and Life Sciences is provided by biomedical and bioengineering applications, which are of great academic, but also of steadily increasing societal and commercial interest. Bridging the traditional borders of disciplinary thinking in these areas has become one of today’s most challenging tasks for scientists. One group of key materials that are of great importance to biomedical engineering and bioengineering are advanced oxide and non-oxide ceramics with specific functionalities towards biological environments, so-called Bioceramics. The interplay at the interface of ceramics-protein-cells/bacteria is very complex and requires multiscale and interdisciplinary approaches. This expertise, that is under continuous development in my Bioceramics group, encompasses materials processing, shaping, surface functionalisation and cells/bacteria evaluation at the same time. The comprehensive research environment and expertise provides a unique opportunity to engineer materials/surfaces with immediate subsequent biological evaluation in order to achieve an extremely short development time. A centre of focus is the contribution of electrostatic and hydrophilic/hydrophobic interactions to the overall biocompatibility and -activity. The proposed research project includes four closely interrelated subprojects, addressing the following topics: “Interaction of surface functionalised ceramic particles with proteins”, “Cytotoxicity of functionalised oxide particles”, “Fabrication and testing of functionalised porous Al2O3 as filters for water cleaning and bioengineering applications” and “Novel functional scaffold composites for bone tissue engineering”.
Summary
In the last decades, Materials Sciences and Life Sciences, two highly dynamically evolving and interdisciplinary research areas, have been influencing natural and engineering sciences significantly, creating new challenges and opportunities. A prime example for an increasing synergetic overlap of Materials and Life Sciences is provided by biomedical and bioengineering applications, which are of great academic, but also of steadily increasing societal and commercial interest. Bridging the traditional borders of disciplinary thinking in these areas has become one of today’s most challenging tasks for scientists. One group of key materials that are of great importance to biomedical engineering and bioengineering are advanced oxide and non-oxide ceramics with specific functionalities towards biological environments, so-called Bioceramics. The interplay at the interface of ceramics-protein-cells/bacteria is very complex and requires multiscale and interdisciplinary approaches. This expertise, that is under continuous development in my Bioceramics group, encompasses materials processing, shaping, surface functionalisation and cells/bacteria evaluation at the same time. The comprehensive research environment and expertise provides a unique opportunity to engineer materials/surfaces with immediate subsequent biological evaluation in order to achieve an extremely short development time. A centre of focus is the contribution of electrostatic and hydrophilic/hydrophobic interactions to the overall biocompatibility and -activity. The proposed research project includes four closely interrelated subprojects, addressing the following topics: “Interaction of surface functionalised ceramic particles with proteins”, “Cytotoxicity of functionalised oxide particles”, “Fabrication and testing of functionalised porous Al2O3 as filters for water cleaning and bioengineering applications” and “Novel functional scaffold composites for bone tissue engineering”.
Max ERC Funding
1 536 120 €
Duration
Start date: 2009-01-01, End date: 2013-12-31
Project acronym CHANGE-POINT TESTS
Project New Results on Structural Change Tests: Theory and Applications
Researcher (PI) Elena Andreou
Host Institution (HI) UNIVERSITY OF CYPRUS
Call Details Starting Grant (StG), SH1, ERC-2007-StG
Summary The research project has two broad objectives and provides novel results in the literature of structural change or change-point tests. The first objective is to provide two new methods for restoring the non-monotone power problem of a large family of structural breaks tests that have been widely used in econometrics and statistics, as well as to show that these methods have additional contributions and can be extended to: (i) tests for a change in persistence, (ii) partial sums tests of cointegration and (iii) tests for changes in dynamic volatility models. The significance of these methods is demonstrated via the consistency of the long-run variance estimator which scales the change-point statistics, the asymptotic properties of the tests, their finite sample performance and their relevance in empirical applications and policy analysis. The second objective is threefold: First, to show that ignoring structural changes in financial time series yields biased and inconsistent risk management (Value at Risk, VaR and Excess Shortfall, ES) estimates and consequently leads to investment misallocations. Second, to propose methods for evaluating the stability of financial time series sequentially or on-line which can be used as a quality control procedure for financial risk management as well as to show that monitoring implied volatilities yields early warning indicators of a changing risk structure. Moreover we show that model averaging in the presence of structural breaks as well as other model uncertainties involved in risk management estimates, can provide robust estimates of VaR and ES. New results are derived on the optimal weights for model averaging in the context of dynamic volatility models and asymmetric loss functions. Third, we propose a novel way to construct prediction-based change-point statistics that reduce the detection delay of existing sequential tests and provide a probability about the likelihood of a structural change.
Summary
The research project has two broad objectives and provides novel results in the literature of structural change or change-point tests. The first objective is to provide two new methods for restoring the non-monotone power problem of a large family of structural breaks tests that have been widely used in econometrics and statistics, as well as to show that these methods have additional contributions and can be extended to: (i) tests for a change in persistence, (ii) partial sums tests of cointegration and (iii) tests for changes in dynamic volatility models. The significance of these methods is demonstrated via the consistency of the long-run variance estimator which scales the change-point statistics, the asymptotic properties of the tests, their finite sample performance and their relevance in empirical applications and policy analysis. The second objective is threefold: First, to show that ignoring structural changes in financial time series yields biased and inconsistent risk management (Value at Risk, VaR and Excess Shortfall, ES) estimates and consequently leads to investment misallocations. Second, to propose methods for evaluating the stability of financial time series sequentially or on-line which can be used as a quality control procedure for financial risk management as well as to show that monitoring implied volatilities yields early warning indicators of a changing risk structure. Moreover we show that model averaging in the presence of structural breaks as well as other model uncertainties involved in risk management estimates, can provide robust estimates of VaR and ES. New results are derived on the optimal weights for model averaging in the context of dynamic volatility models and asymmetric loss functions. Third, we propose a novel way to construct prediction-based change-point statistics that reduce the detection delay of existing sequential tests and provide a probability about the likelihood of a structural change.
Max ERC Funding
517 200 €
Duration
Start date: 2008-09-01, End date: 2013-08-31
Project acronym CHOBOTIX
Project Chemical Processing by Swarm Robotics
Researcher (PI) Frantisek Stepanek
Host Institution (HI) VYSOKA SKOLA CHEMICKO-TECHNOLOGICKA V PRAZE
Call Details Starting Grant (StG), PE6, ERC-2007-StG
Summary The aim of the project is to develop chemical processing systems based on the principle of swarm robotics. The inspiration for swarm robotics comes from the behaviour of collective organisms – such as bees or ants – that can perform complex tasks by the combined actions of a large number of relatively simple, identical agents. The main scientific challenge of the project will be the design and synthesis of chemical swarm robots (“chobots”), which we envisage as internally structured particulate entities in the 10-100 µm size range that can move in their environment, selectively exchange molecules with their surrounding in response to a local change in temperature or concentration, chemically process those molecules and either accumulate or release the product. Such chemically active autonomous entities can be viewed as very simple pre-biotic life forms, although without the ability to self-replicate or evolve. In the course of the project, the following topics will be explored in detail: (i) the synthesis of suitable shells for chemically active swarm robots, both soft (with a flexible membrane) and hard (porous solid shells); (ii) the mechanisms of molecular transport into and out of such shells and means of its active control; (iii) chemical reaction kinetics in spatially complex compartmental structures within the shells; (iv) collective behaviour of chemical swarm robots and their response to external stimuli. The project will be carried out by a multi-disciplinary team of enthusiastic young researchers and the concepts and technologies developed in course of the project, as well as the advancements in the fundamental understanding of the behaviour of “chemical robots” and their functional sub-systems, will open up new opportunities in diverse areas including next-generation distributed chemical processing, synthesis and delivery of personalised medicines, recovery of valuable chemicals from dilute resources, environmental clean-up, and others.
Summary
The aim of the project is to develop chemical processing systems based on the principle of swarm robotics. The inspiration for swarm robotics comes from the behaviour of collective organisms – such as bees or ants – that can perform complex tasks by the combined actions of a large number of relatively simple, identical agents. The main scientific challenge of the project will be the design and synthesis of chemical swarm robots (“chobots”), which we envisage as internally structured particulate entities in the 10-100 µm size range that can move in their environment, selectively exchange molecules with their surrounding in response to a local change in temperature or concentration, chemically process those molecules and either accumulate or release the product. Such chemically active autonomous entities can be viewed as very simple pre-biotic life forms, although without the ability to self-replicate or evolve. In the course of the project, the following topics will be explored in detail: (i) the synthesis of suitable shells for chemically active swarm robots, both soft (with a flexible membrane) and hard (porous solid shells); (ii) the mechanisms of molecular transport into and out of such shells and means of its active control; (iii) chemical reaction kinetics in spatially complex compartmental structures within the shells; (iv) collective behaviour of chemical swarm robots and their response to external stimuli. The project will be carried out by a multi-disciplinary team of enthusiastic young researchers and the concepts and technologies developed in course of the project, as well as the advancements in the fundamental understanding of the behaviour of “chemical robots” and their functional sub-systems, will open up new opportunities in diverse areas including next-generation distributed chemical processing, synthesis and delivery of personalised medicines, recovery of valuable chemicals from dilute resources, environmental clean-up, and others.
Max ERC Funding
1 644 000 €
Duration
Start date: 2008-06-01, End date: 2013-05-31
Project acronym CIDAM
Project Conflict, Identity and Markets
Researcher (PI) Eliana La Ferrara
Host Institution (HI) UNIVERSITA COMMERCIALE LUIGI BOCCONI
Call Details Starting Grant (StG), SH1, ERC-2007-StG
Summary The developing world has been plagued by many civil conflicts in the past thirty years. Understanding the roots and the consequences of these conflicts is crucial to fight poverty. This project will take an economic approach to investigate the interplay between cultural, political and economic determinants of conflict in poor countries. I will assess the role of domestic and international factors. Domestic factors include variables such as cultural identity, income inequality, resource endowments and geography. I will re-examine the role of ethnic diversity using original multi-dimensional indicators. These take into account that the salience of ethnic identity may depend on how much it overlaps with categories based on income, education, etc. I will also re-assess the role of natural resource abundance from a theoretical and empirical standpoint. I will develop a theory of how rebel groups are organized drawing on the theory of incentives and test it using detailed geographic information on the location of mineral deposits in Africa. I will also analyze the role of international players using a methodology based on financial markets’ reactions to news. This methodology will allow me to address questions such as: Which companies gain or lose from violent conflict? How can we detect violations of international embargoes? What are the private incentives of complying with international norms, i.e. can reputation costs be quantified? These are questions of paramount importance from a policy perspective and on which almost no academic research exists in economics. Overall, the project should help integrate economic, social and political explanations for the occurrence of conflict in developing countries. I expect that its outcome should comprise the creation of new datasets, propose new methodological tools and offer some insights for designing economic policies to prevent conflict and fight poverty.
Summary
The developing world has been plagued by many civil conflicts in the past thirty years. Understanding the roots and the consequences of these conflicts is crucial to fight poverty. This project will take an economic approach to investigate the interplay between cultural, political and economic determinants of conflict in poor countries. I will assess the role of domestic and international factors. Domestic factors include variables such as cultural identity, income inequality, resource endowments and geography. I will re-examine the role of ethnic diversity using original multi-dimensional indicators. These take into account that the salience of ethnic identity may depend on how much it overlaps with categories based on income, education, etc. I will also re-assess the role of natural resource abundance from a theoretical and empirical standpoint. I will develop a theory of how rebel groups are organized drawing on the theory of incentives and test it using detailed geographic information on the location of mineral deposits in Africa. I will also analyze the role of international players using a methodology based on financial markets’ reactions to news. This methodology will allow me to address questions such as: Which companies gain or lose from violent conflict? How can we detect violations of international embargoes? What are the private incentives of complying with international norms, i.e. can reputation costs be quantified? These are questions of paramount importance from a policy perspective and on which almost no academic research exists in economics. Overall, the project should help integrate economic, social and political explanations for the occurrence of conflict in developing countries. I expect that its outcome should comprise the creation of new datasets, propose new methodological tools and offer some insights for designing economic policies to prevent conflict and fight poverty.
Max ERC Funding
429 480 €
Duration
Start date: 2008-06-01, End date: 2013-05-31
Project acronym CODEC
Project Consequences of Demographic Change
Researcher (PI) Arnstein Aassve
Host Institution (HI) UNIVERSITA COMMERCIALE LUIGI BOCCONI
Call Details Starting Grant (StG), SH1, ERC-2007-StG
Summary The project will be using the Gender and Generations Surveys (GGS) – a system of comparable micro-level surveys for several Developed countries – to analyse the consequences of demographic change. The analysis will be using households and individuals as the unit of observation. As a result, we will be able to make inferences about how certain demographic behaviours (i.e. childbearing, marital disruption, single motherhood, leaving home), including their timing and sequencing, affect certain outcomes, such as income, poverty, deprivation, together with various child outcomes. This analysis is particularly relevant given recent demographic trends in developed countries (e.g. divorce rates are increasing, out-of-wedlock childbearing is becoming more prevalent, and general delay in key demographic events such as childbearing and leaving the parental home). The novelty of the study is driven by its focus on consequences of newly emerging demographic patterns and behaviour, which is in contrast to the majority of previous demographic studies – which has tended to focus on the determinants behind these trends. Policy analysis has not had a strong tradition in Demography and the aim of this project is to rectify this shortcoming of the discipline. By focusing on the consequences of demographic change and using techniques that are borrowed from program evaluation, econometrics, applied statistics and empirical sociology, we aim to advance the understanding of how demographic events impact other important processes in the life course of individuals and how policy makers can best influence such outcomes by appropriate policy interventions.
Summary
The project will be using the Gender and Generations Surveys (GGS) – a system of comparable micro-level surveys for several Developed countries – to analyse the consequences of demographic change. The analysis will be using households and individuals as the unit of observation. As a result, we will be able to make inferences about how certain demographic behaviours (i.e. childbearing, marital disruption, single motherhood, leaving home), including their timing and sequencing, affect certain outcomes, such as income, poverty, deprivation, together with various child outcomes. This analysis is particularly relevant given recent demographic trends in developed countries (e.g. divorce rates are increasing, out-of-wedlock childbearing is becoming more prevalent, and general delay in key demographic events such as childbearing and leaving the parental home). The novelty of the study is driven by its focus on consequences of newly emerging demographic patterns and behaviour, which is in contrast to the majority of previous demographic studies – which has tended to focus on the determinants behind these trends. Policy analysis has not had a strong tradition in Demography and the aim of this project is to rectify this shortcoming of the discipline. By focusing on the consequences of demographic change and using techniques that are borrowed from program evaluation, econometrics, applied statistics and empirical sociology, we aim to advance the understanding of how demographic events impact other important processes in the life course of individuals and how policy makers can best influence such outcomes by appropriate policy interventions.
Max ERC Funding
750 000 €
Duration
Start date: 2008-07-01, End date: 2013-06-30