Here.

​The International Research Conference Aims and ObjectivesThe International Research Conference is a federated organization dedicated to bringing together a significant number of diverse scholarly events for presentation within the conference program. Events will run over a span of time during the conference depending on the number and length of the presentations. With its high quality, it provides an exceptional value for students, academics and industry researchers.
ICEFA 2020: 14. International Conference on Experimental Finance and Advantages aims to bring together leading academic scientists, researchers and research scholars to exchange and share their experiences and research results on all aspects of Experimental Finance and Advantages. It also provides a premier interdisciplinary platform for researchers, practitioners and educators to present and discuss the most recent innovations, trends, and concerns as well as practical challenges encountered and solutions adopted in the fields of Experimental Finance and Advantages
Call for ContributionsProspective authors are kindly encouraged to contribute to and help shape the conference through submissions of their research abstracts, papers and e-posters. Also, high quality research contributions describing original and unpublished results of conceptual, constructive, empirical, experimental, or theoretical work in all areas of Experimental Finance and Advantages are cordially invited for presentation at the conference. The conference solicits contributions of abstracts, papers and e-posters that address themes and topics of the conference, including figures, tables and references of novel research materials.
Guidelines for AuthorsPlease ensure your submission meets the conference's strict guidelines for accepting scholarly papers. Downloadable versions of the check list for Full-Text Papers and Abstract Papers.
Please refer to the Paper Submission Guideline, Abstract Submission Guideline and Author Information before submitting your paper.
Conference ProceedingsAll submitted conference papers will be blind peer reviewed by three competent reviewers. The peer-reviewed conference proceedings are indexed in the Open Science Index, Google Scholar, Semantic Scholar, Zenedo, OpenAIRE, BASE, WorldCAT, Sherpa/RoMEO, and other index databases. Impact Factor Indicators.
Special Journal IssuesICEFA 2020 has teamed up with the Special Journal Issue on Experimental Finance and Advantages. A number of selected high-impact full text papers will also be considered for the special journal issues. All submitted papers will have the opportunity to be considered for this Special Journal Issue. The paper selection will be carried out during the peer review process as well as at the conference presentation stage. Submitted papers must not be under consideration by any other journal or publication. The final decision for paper selection will be made based on peer review reports by the Guest Editors and the Editor-in-Chief jointly. Selected full-text papers will be published online free of charge.
Conference Sponsor and Exhibitor OpportunitiesThe Conference offers the opportunity to become a conference sponsor or exhibitor. To participate as a sponsor or exhibitor, please download and complete the Conference Sponsorship Request Form.

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This paper investigates the efficiency of various monetary policy instruments to stabilize asset prices in a liquidity crisis. We propose a macro-finance model featuring both traditional and shadow banks subject to funding risk. When banks are well capitalized, they have access to money markets and efficiently mitigate funding shocks. When aggregate bank capital is low, a vicious cycle arises between declining asset prices and funding risks. The central bank can partially counter these dynamics. Increasing the supply of reserves reduces liquidity risk in the traditional banking sector, but fails to reach the shadow banking sector. When the shadow banking sector is large, as in the US in 2008, the central bank can further stabilize asset prices by directly purchasing illiquid securities.

From:

Adrien d'Avernas
Quentin Vandeweyer
​Matthieu Darracq Pariès

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This is very cool, it allows you to get the detailed short conference papers and associated Blackboard slides for every academic session.

Here.

​AEA Presidential Address: Twenty-first Century Monetary Policy
Ben Bernanke, Brookings Institution, introduced by Janet Yellen, Brookings Institution

Here.

This paper discusses some macro links that are missing from trade models. A multicountry macroeconometric model is used to analyze the effects on the United States of increased import competition from China, an experiment that is common in the recent trade literature. In the macro story a fall in Chinese export prices is stimulative. Domestic prices fall, which increases real wage rates and real wealth, which increases household expenditures. In addition, the Fed may lower the interest rate because of the lower prices, which is stimulative. Trade models do not have these channels, and they likely overestimate the negative effects or underestimate the positive effects on total output and employment from increased Chinese import competition. They lack some important aggregate demand channels, which are not likely second order.

From:
​
Ray C. Fair

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​Federal Reserve Bank of St Louis

Monday, December 2, 2019Tisha Emerson
Baylor University economics professor Tisha Emerson wanted to know why only about 1 in 3 people majoring in economics was female.
Her research on this (along with coauthors) showed that the role model effect—or the notion that fewer female role models in economics leads to fewer women studying economics—wasn’t to blame.
Nor was the quantitative nature of the economics field, as has been suggested. Rather than finding that the quantitative aspect of the discipline was off-putting to women, Emerson and her coauthors found the opposite: Higher quantitative requirements led to higher ratios of women studying economics.
So, what else could have an effect?
“I have found through some research that in principles of microeconomics, there is a gender gap that men tend to outperform women,” Emerson said, “but if you teach with a pedagogy that uses classroom experiments, that women make up much of that gap.”
In this Women in Economics podcast, Emerson discussed how using classroom experiments while teaching helped a wide range of students close the gap.
“I really think that some pedagogies will be perhaps more attractive to people from different backgrounds,” Emerson said, “and that also, for some racial and ethnic minorities, some of the gap between those groups and white students, some of that was made up also when they were exposed to a pedagogy of classroom experiments.”
One example involved teaching supply and demand: Half the class pretended to be buyers of a product, and half were sellers. Each side was given private information about their needs, and they engaged essentially in an auction to settle on prices for the goods.
“We’re able to show that … they will accurately predict the equilibrium price in the market and the quantity of the good traded that we actually see in the experiment which the students participate in themselves.”

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Technische Universität BerlinThe Eleventh International Workshop on Theoretical and Experimental Macroeconomics will be held June 23-24, 2020 at Technische Universität Berlin, Germany.
Call for papers open now.
The goal of this workshop is to promote an active exchange and interaction of ideas and work on macroeconomic issues using behavioral, experimental, and/or theoretical approaches, and therefore we seek a good mix of theory and experimental papers.  The workshop is jointly organized by Technische Universität Berlin and by the BES Lab (Behavioral and Experimental Sciences Lab, (formerly LEEX) at Universitat Pompeu Fabra). For more information, please visit our website https://www.upf.edu/web/beslab/conference-program-2020.
The keynote speakers for the 2020 workshop are Jasmina Arifovic (Simon Fraser University) and Dirk Krueger (University of Pennsylvania).
Researchers working on behavioral, experimental and theoretical approaches to addressing macroeconomic questions are invited to submit a paper for this two-day conference. The deadline for submissions is January 26, 2020. Submissions should include either a full paper or an extended abstract including the main results.
To submit a paper, please send to mailto:exp.macro2020@upf.edu one attached file: File should be your Paper or extended abstract in an e-mail with the following subject: EM2020_lastname_firstname. Please also fill the short application form.
Authors chosen to present papers will be notified approximately mid of February, and the deadline for workshop registration is March 30. In addition to the workshop, the organizers invite young researchers and graduate students to the 13th BESLab Experimental Economics Summer School in Macroeconomics also held at Technische Universität Berlin from June 21-27, 2020. Summer school participants can also attend the workshop.
Information about previous workshops is available here.
Please forward this announcement to all interested parties.
Workshop Organizers

• Gabriele Camera (Chapman University and University of Bologna)
• John Duffy (University of California, Irvine)
• Frank Heinemann (Technische Universität Berlin)
• Rosemarie Nagel (ICREA, Universitat Pompeu Fabra, and  Barcelona GSE )
• Luba Petersen (Simon Fraser University)
• Shyam Sunder (Yale University)

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From:


Replication crisis and debates about p-values have raised doubts about what we can statistically infer from research findings, both in experimental and observational studies. The goal of this paper is to provide an adequate differentiation of experimental studies that enables researchers to better understand which inferences can and – perhaps more important – cannot be made from particular designs.


Hirschauer, Norbert
Gruener, Sven;
Mußhoff, Oliver
Becker, Claudia

Replication crisis and debates about p-values have raised doubts about what we can statistically infer from research findings, both in experimental and observational studies. The goal of this paper is to provide an adequate differentiation of experimental studies that enables researchers to better understand which inferences can and – perhaps more important – cannot be made from particular designs.

Here. (PDF)

We study the role of experience in the formation of asset price bubbles. Therefore, we conduct two related experiments. One is a call market experiment in which participants trade assets with each other. The other is a learning-to-forecast experiment in which participants only forecast future prices, while the trade, which is based on these forecasts, is computerized. Each experiment comprises three treatments that vary the amount of information about the fundamental value that participants receive. Each market is repeated three times. In both experiments and in all treatments, we observe sizable bubbles. These bubbles do not disappear with experience. Our findings in the call market experiment stand in contrast to the literature. Our findings in the learning- to-forecast experiment are novel. Interestingly, the shape of the bubbles is different between the two experiments. We observe flat bubbles in the call market experiment and boom-and-bust cycles in the learning-to-forecast experiment.

From:

Anita Kopányi-Peukery
​Matthias Weberz
Kopanyi-Peuker, Anita; Weber, MatthiasKopanyi-Peuker, Anita; Weber, MatthiasKopanyi-Peuker, Anita; Weber, Matthias

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We have been using and promoting experiments in teaching economics for more than ten years, with very positive feedback from both students and instructors. In econclassexperiments.com, we are posting freely available the material and software to run experiments in the classroom with the use of smartphones or other mobile devices.
 
The experiments were first published by Ted Bergstrom and John H. Miller in their book “Experiments with Economic Principles”.  Chapters from the book are now updated and presented in a free web-book . The experiments have been adapted to be run with mobile devices in the classroom; they run very fast and are very easy to conduct, even if you have no prior experience. The software and the material also save the instructor a lot preparation and tedious book-keeping work.  

Please, visit https://econclassexperiments.com/ for a description of the program and how it works.

For each experiment, we provide 
(1) an instructor’s manual with instructions to run the experiment and hints to conduct the discussion; 
(2) instructions for students and exercises for them to reflect on the experiment; 
(3) an online warm-up quiz; and 
(4) Excel files that generate solutions to the exercises and collect participation, performance in the experiment and the warm-up quiz,..., all automatically from the data file provided by classEx (the free software we use). 

If you are involved in teaching economics courses these days, we hope you will consider trying it out.  Each experiment is self-contained and everything is free, so it is easy to give it a trial run.

Sincerely,
 
Ted Bergstrom (University of California-Santa Barbara)
Marcus Giamattei (Bard College Berlin and University of Passau)
Humberto Llavador (Pompeu Fabra University and Barcelona GSE)
John H. Miller (Carnegie Melon University)

P.S. Why do we do this? We have found that conducting economic experiments in the classroom, with discussions before, during, and after the experiments, is an effective way of getting students to use economics to think about the world around them. Students have no problem grasping the rules for the experiments and love getting involved with markets and then figuring out what happened rather than simply being lectured at. Better yet, they not always play as cleverly as they might, providing the opportunity to learn from their own and others’ mistakes. They are enthusiastic about what they learn. As instructors, we feel the same way.

P.P.S. We are committed to keep access to the all the material for free under a creative commons by-nc-nd icense.

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​When the information of many individuals is pooled, the resulting aggregate often is a good predictor of unknown quantities or facts (“wisdom of crowds”). This aggregate predictor frequently outperforms the forecasts of experts or even the best individual forecast included in the aggregation process. However, an appropriate aggregation mechanism is considered crucial to reaping the benefits of a “wise crowd”. Of the many possible ways to aggregate individual forecasts, we compare (uncensored and censored) mean and median, continuous double auction market prices and sealed bid-offer call market prices in a controlled experiment. We use an asymmetric information structure where subjects know different subsets of the total information needed to exactly calculate the asset value to be estimated. We find that prices from continuous double auction markets clearly outperform all alternative approaches for aggregating dispersed information and that information is only useful to the best-informed subjects. 

From:

Stefan Palan
Jürgen Huber
Larissa Senninger

Here.


​The International Research Conference Aims and ObjectivesThe International Research Conference is a federated organization dedicated to bringing together a significant number of diverse scholarly events for presentation within the conference program. Events will run over a span of time during the conference depending on the number and length of the presentations. With its high quality, it provides an exceptional value for students, academics and industry researchers.
ICEFT 2020: 14. International Conference on Experimental Finance and Theories aims to bring together leading academic scientists, researchers and research scholars to exchange and share their experiences and research results on all aspects of Experimental Finance and Theories. It also provides a premier interdisciplinary platform for researchers, practitioners and educators to present and discuss the most recent innovations, trends, and concerns as well as practical challenges encountered and solutions adopted in the fields of Experimental Finance and Theories
Call for ContributionsProspective authors are kindly encouraged to contribute to and help shape the conference through submissions of their research abstracts, papers and e-posters. Also, high quality research contributions describing original and unpublished results of conceptual, constructive, empirical, experimental, or theoretical work in all areas of Experimental Finance and Theories are cordially invited for presentation at the conference. The conference solicits contributions of abstracts, papers and e-posters that address themes and topics of the conference, including figures, tables and references of novel research materials.
Guidelines for AuthorsPlease ensure your submission meets the conference's strict guidelines for accepting scholarly papers. Downloadable versions of the check list for Full-Text Papers and Abstract Papers.
Please refer to the Paper Submission Guideline, Abstract Submission Guideline and Author Information before submitting your paper.
Conference ProceedingsAll submitted conference papers will be blind peer reviewed by three competent reviewers. The peer-reviewed conference proceedings are indexed in the Open Science Index, Google Scholar, Semantic Scholar, Zenedo, OpenAIRE, BASE, WorldCAT, Sherpa/RoMEO, and other index databases. Impact Factor Indicators.
Special Journal IssuesICEFT 2020 has teamed up with the Special Journal Issue on Experimental Finance and Theories. A number of selected high-impact full text papers will also be considered for the special journal issues. All submitted papers will have the opportunity to be considered for this Special Journal Issue. The paper selection will be carried out during the peer review process as well as at the conference presentation stage. Submitted papers must not be under consideration by any other journal or publication. The final decision for paper selection will be made based on peer review reports by the Guest Editors and the Editor-in-Chief jointly. Selected full-text papers will be published online free of charge.
Conference Sponsor and Exhibitor OpportunitiesThe Conference offers the opportunity to become a conference sponsor or exhibitor. To participate as a sponsor or exhibitor, please download and complete the Conference Sponsorship Request Form.

Here.

We propose a method to quantify narratives from textual data in a structured manner, and identify what we label “narrative monetary policy surprises” as the change in economic media coverage explained by central bank communication accompanying interest rate meetings. Our proposed method is fast and simple, and relies on a Singular Value Decomposition of the different texts and articles coupled with a unit rotation identification scheme. Identifying narrative surprises in central bank communication using this type of data and identification provides surprise measures that are uncorrelated with conventional monetary policy surprises, and, in contrast to such surprises, have a significant effect on subsequent media coverage. In turn, narrative monetary policy surprises lead to macroeconomic responses similar to what recent monetary policy literature associates with the information component of monetary policy communication. Our study highlights the importance of written central bank communication and the role of the media as information intermediaries.

From:

Saskia ter Ellen, Vegard H. Larsen and Leif Anders Thorsrud