CEMFI invites applications for two Research Assistant positions

Monica Martinez-Bravo is interviewed about her research on mass vaccination by VoxEU/CEPR.

Applications for the CEMFI Summer School 2021 are now welcome.

Information about the eleven courses offered, some online and others in a hybrid format, is available here. The deadline for applications is 11 June.

Samuel Bentolila has been appointed to the Advisory Board of the Spanish Independent Authority for Fiscal Responsibility (AIReF)

In collaboration with Banco de España, CEMFI will organize the Third Conference on Financial Stability on 18-19 October 2021.

The call for papers is here .

Tom Zohar will be joining CEMFI's faculty next academic year. His research area is labor economics.

Liyang Sun will be joining CEMFI’s faculty in the summer of 2022. Her research area is econometrics.

CEMFI launches the sixth edition of its Undergraduate Internship Program.

Rafael Repullo writes a critical review of the deposits channel of monetary policy in VoxEU.org.

Dmitry Arkhangelsky receives funding from Fundación Ramón Areces to study estimation under sequential exogeneity.

In this project, we focus on the estimation of causal effects with panel data under the assumption of sequential exogeneity. Sequential exogeneity is rarely used in applied "reduced form" papers despite being a well-known and widely recognized econometric concept. Instead, most of the empirical work is done under a more restrictive (and often implicit) assumption of strict exogeneity. This project's primary goal is to show that sequential exogeneity is a natural and useful concept for empirical work. To achieve this goal, we follow three steps. First, using recent ideas from causal literature, we construct a flexible estimator that can be used instead of the standard ordinary least squares and provide its interpretation in a rich causal model. Second, we analyze the statistical properties of this estimator in different regimes (long and short panels) and illustrate the main trade-offs one has to face. Finally, we apply the new estimator to recently published empirical papers that use a standard OLS approach to see if sequential exogeneity changes the results in an economically important way.

Here is a summary of the paper "The Labor Market Impact of Immigration: Job Creation versus Job Competition" by Christoph Albert, published in the American Economic Journal: Macroeconomics.

Fundación Carolina, in cooperation with BBVA, endows two scholarships for Latin American students of the Master in Economics and Finance.

Do you want to learn more about CEMFI’s Master and PhD programs? Join us for an online meeting this Friday, 15 January, at 12:00 (CET) registering here.