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Urban and Regional Economics Seminar


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For further information, please contact
Tajender Sagoo, email: t.sagoo@lse.ac.uk, tel: +44(0)-7955-7673.

This seminar is organised by

Alex Jaax, email, A.Jaax@lse.ac.uk
Felipe Carozzi, email: F.Carozzi@lse.ac.uk, tel +44 (0)20 7849 4942
Edward Pinchbeck, email e.w.Pinchbeck@lse.ac.uk
Maria Sanchez-Vidal, email m.sanchez-vidal@lse.ac.uk



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Friday  20 October 2017  13:00 - 14:30

How Sensitive is Young Firm Investment to the Cost of Outside Equity? Evidence from a UK Tax Relief

Juanita Gonzalez-Uribe (LSE)

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32L 3.05, 3rd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH


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calendar
Friday  29 September 2017  13:00 - 14:30

Trade Liberalization and Economic Development: Evidence from China's WTO Accession

Andrei Potlogea (University of Edinburgh)

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32L 3.05, 3rd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH


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calendar
Friday  06 October 2017  13:00 - 14:30

The Impact of Institutions on Innovation

Rui Silva (London Business School)

32L 1.04, 1st Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
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Friday  13 October 2017  13:00 - 14:30

Trade policy repercussions: the role of local product space

Laura Hering (Erasmus School of Economics)

32L 1.04, 1st Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
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Friday  20 October 2017  13:00 - 14:30

How Sensitive is Young Firm Investment to the Cost of Outside Equity? Evidence from a UK Tax Relief

Juanita Gonzalez-Uribe (LSE)

We estimate the sensitivity of investment to the cost of outside equity for young firms. For estimation, we exploit differences across firms in eligibility to a new tax relief program for individual outside investors in the UK. On average, investment increases 1.6% in response to a 10% drop in the cost of outside equity. This average conceals substantial heterogeneity: 1% of eligible firms issue equity in response to a subsidy that would have doubled investors’ returns, implying large outside equity issuance costs for the majority of firms. Conditional on issuing new equity, however, firms invest eight times the issued amount. Additional evidence suggests that the marginal funding is provided by the same investors that provide equity, but in the form of debt. Consistent with financing frictions’ theories of capital structure, the results imply a large complementarity between outside equity and debt-like securities in young firms.


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32L 3.05, 3rd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH


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calendar
Friday  27 October 2017  13:00 - 14:30

Unequal Productivity Gains in Urban China

Pierre-Philippe Combes (GATELSE, Sciences Po Paris)

We estimate urbanisation effects in China for various groups of workers identified by their skill level and Hukou (migration) status. Considering both city and city-industry characteristics allows us to better disentangle agglomeration economies, human capital and migrant externalities, and substitution effects within the local production function. Location matters for Chinese workers' earnings. High-skilled urban workers experience large gains due to agglomeration effects, a strong positive rural migrant externality at the city level and a smaller positive human capital externality at the city-industry level. Low-skilled urban workers also benefit from agglomeration effects and from the presence of migrants but to a lower extent. Rural migrants are less impacted and do not gain from agglomeration except through market access. They exert a negative impact on the already set up migrants' earnings at the city-industry level. But they benefit from a human capital externality at both the city and city-industry levels, and from a migrant externality at the city level.


NAB LG.09, Alumni Theatre, Lower Ground Floor, New Academic Building, LSE, 54 Lincoln's Inn Fields, WC2A 3LJ


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Friday  10 November 2017  13:00 - 14:30

TBC

Alessandro Sforza (LSE, CEP)

32L 1.04, 1st Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
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Friday  17 November 2017  13:00 - 14:30

Separate Worlds? Regional economic divergence and its populist offshoots

Michael Storper (LSE)

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32L 1.04, 1st Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
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Friday  24 November 2017  13:00 - 14:30

German Robots The Impact of Industrial Robots on Workers

Jens Suedekum (University of Dusseldorf)

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32L 1.04, 1st Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
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Friday  01 December 2017  13:00 - 14:30

TBC

Etienne Wasmer (Sciences-Po)

32L 2.04, 2nd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH


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calendar
Friday  08 December 2017  13:00 - 14:30

TBC

Miren LaFourcade (University Paris-Sud)

32L 1.04, 1st Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH