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PRODID:-//AMSE//Event Calendar//FR
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UID:event-12475@www.amse-aixmarseille.fr
DTSTAMP:20260421T122146Z
CREATED:20260421T122146Z
LAST-MODIFIED:20260421T122146Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:Macro and labor market seminar - Katharina Erhardt
DTSTART:20251113T133000Z
DTEND:20251113T143000Z
DESCRIPTION:This paper studies heterogeneous firm responses to the sudden p
 rofitability shock from the 2015 Swiss franc appreciation. Using firm-level
  investment data\, we show that affected firms experience large and persist
 ent investment declines. Among equally exposed firms\, heterogeneity is not
  explained by fundamentals but is strongly linked to firm age and manageria
 l experience: younger firms and those led by less experienced managers reac
 t much more strongly. We interpret these patterns through a Bayesian learni
 ng framework\, in which firms update beliefs about profitability over time.
  The results highlight how trade shocks shape business dynamism\, capital i
 nvestment\, and employment.\\n\\nContact: Marco Fongoni: marco.fongoni[at]u
 niv-amu.frAlexandros Loukas: alexandros.loukas[at]univ-amu.fr\n\nPlus d'inf
 ormations: https://www.amse-aixmarseille.fr/en/events/katharina-erhardt-0
LOCATION:MEGA - Salle Carine Nourry\, 424\, Chemin du Viaduc\, 13080 Aix-en
 -Provence
URL;VALUE=URI:https://www.amse-aixmarseille.fr/en/events/katharina-erhardt-0
CONTACT:Marco Fongoni: marco.fongoni[at]univ-amu.frAlexandros Loukas: alexa
 ndros.loukas[at]univ-amu.fr
TRANSP:OPAQUE
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