Daily Events

Across Continents: A Macroeconomic Perspective on Risk and Uncertainty

We are pleased to invite CERGE-EI students and alumni to a special #AlumniLive seminar over breakfast with Jaroslav Borovička from New York University.

Moderator: Eva Hromádková, CERGE-EI PhD in Economics alumna and analyst at the Czech National Bank

Jaroslav Borovička is a CERGE-EI MA in Economics alumnus and one of the leading Czech macroeconomists. He holds a Ph.D. from the University of Chicago and is an Associate Professor in the Department of Economics at New York University, USA.

Join us for an engaging discussion—along with coffee and light breakfast!

Register for an offline event: https://forms.gle/5DCea1XfpFa3DvXN7

Join us online: https://cerge-ei.webex.com/cerge-ei/j.php?MTID=m8e1026792ce94ad9d9e9a65e27243c3c

Meeting number:
2742 029 1093

Meeting password:
873695

Prof. Kfir Eliaz

Tel Aviv University, Israel

Authors: Kfir Eliaz, Daniel Fershtman, Alexander Frug

Abstract: We study the optimal dynamic scheduling of workers to tasks when task-completion is privately observed (hence, workers can delay the release of completed tasks), and when idle time is the only means of providing incentives. Our main result characterizes a scheduling rule, and the equilibrium it induces, maximizing the expected discounted output subject to workers' incentive constraints. When workers are inherently slow, a simple rotation scheme suffices to attain first-best output, but when they are more productive, optimal scheduling alternates between phases with and without delay. Our analysis highlights a trade-off between the quality and size of workforce.

Keywords: Strategic servers, non-monetary incentives, optimal scheduling, moral hazard, idle time, multi-server systems.

Full Text: Clerks

You can join the seminar in person at the following address:
CERGE-EI, Politických vězňů 7, Praha 1, room 402
or online at: https://cerge-ei.webex.com/cerge-ei/j.php?MTID=m198f68e995f1d88e20e2f1673af6352e
Meeting number: 2744 458 2156
Meeting password: 584763

Presenter: Marta Cota (This email address is being protected from spambots. You need JavaScript enabled to view it.)

Title: "Gender Differences in Savings Over the Life-Cycle: The Role of Financial Literacy"

Abstract: This paper examines gender differences in wealth accumulation through a microfounded model of financial decision-making, and highlights that gender gaps in financial literacy can contribute to gender wealth inequality over the life-cycle. Using data from several US surveys, we show that women are more likely to delegate financial decisions and have lower financial literacy, which however increases after events such as divorce or widowhood, or after shocks to their spouse's health. Moreover, while financial literacy increases women’s investment margins more than men's, its impact is stronger for safe assets accumulation and limited for equity holdings, suggesting a role for subjective financial confidence in shaping their investment margins. Our model highlights how marital dynamics influence financial decisions and underscores the importance of targeted policies to improve women’s financial literacy, promote independence, and reduce gender wealth disparities over the life-cycle.

The Executive and Supervisory Committee of CERGE-EI will hold the second annual Discussion Forum at CERGE-EI on Friday, 30 May 2025, from 2:00 to 3:30 p.m.

The Forum will focus on the current Global and European Challenges for Security and Economic Policy and will be attended by leading academics, policymakers, business leaders, and journalists. It will be launched with short introductory remarks by Jaroslav Borovička (New York University), Yuriy Gorodnichenko (University of California at Berkeley), Marek Kapička (CERGE-EI), Jan Švejnar (Columbia University and CERGE-EI), and Miroslav Wlachovsky (GLOBSEC). Their remarks will be followed by a general discussion of the participants at the Forum. The Forum aims to contribute to the ongoing international discussion on key security and economic aspects of the current geopolitical situation, especially with regard to the future position of Europe and the Czech Republic. The forum is in a Chatham House format.

CERGE-EI's Executive and Supervisory Committee is composed of renowned economists from around the world who set and enforce CERGE-EI’s high academic standards and ensure that CERGE-EI is ranked among the world's best economic institutions and the best academic institutions in the Czech Republic.

The debate is for invited guests only.