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UID:event-8316@www.amse-aixmarseille.fr
DTSTAMP:20260429T070853Z
CREATED:20260429T070853Z
LAST-MODIFIED:20260429T070853Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:Eco-lunch - Priyam Verma
DTSTART:20211014T103000Z
DTEND:20211014T113000Z
DESCRIPTION:U.S. state governments are subject to balanced budget rules\, b
 ut most have “rainy day funds\,” to be used in economic downturns. Howe
 ver\, the balances are small relative to fluctuations in revenue. Using dat
 a on state finances from the Census Bureau\, we find that state governments
  use other cash accounts which are much larger than the rainy day funds to 
 absorb revenue shocks. We ask if state governments save rationally in the s
 ense that spending and savings of a representative state can be described b
 y a buffer-stock consumer model (Carroll (1992\, 1997)) with exogenous reve
 nue. We estimate the parameters of the model using Indirect Inference and f
 ind that state governments are risk-averse and impatient\, with the estimat
 ed parameters similar to those found for consumers.\\n\\nContact: Nathalie 
 Ferrière : nathalie.ferriere[at]sciencespo-aix.frFederico Trionfetti : f
 ederico.trionfetti[at]univ-amu.fr\n\nPlus d'informations: https://www.amse-
 aixmarseille.fr/fr/evenements/priyam-verma
LOCATION:MEGA - Salle Carine Nourry\, 424\, Chemin du Viaduc\, 13080 Aix-en
 -Provence
URL;VALUE=URI:https://www.amse-aixmarseille.fr/fr/evenements/priyam-verma
CONTACT:Nathalie Ferrière :&nbsp\;nathalie.ferriere[at]sciencespo-aix.frFe
 derico Trionfetti :&nbsp\;federico.trionfetti[at]univ-amu.fr
TRANSP:OPAQUE
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