Annual Report 2010-11 | Barcelona GSE

ANNUALREPORT2010-2011ACADEMIC YEAR

EXTERNALRELATIONS& FINANCIALDATA

ANNUALREPORT2010-2011ACADEMIC YEAR 5

Welcome 11Governance 17Who We Are 25Faculty 31Programs 37Research 61Highlights 81External Relations and Financial Data 93Appendices 101

WELCOME

WELCOMEWelcome fromJoaquín Almunia,Honorary PresidentThe Barcelona Graduate School of Economics reachesits fifth year in a very delicate moment for world economies,in which Europe is not an exception. In his opening speechat the inaugural ceremony of the GSE, Alan Krueger advisedthat policymakers should draw from all branchesof Economics in their decisionmaking. I would add that thisis the way for Economics to provide the insights showingus how to solve the current crisis.In this context, world-leading institutions like theBarcelona GSE contribute to the rigorous training of youngprofessionals, economic analysts and researchers, thusproviding the skills needed to improve our societies andto tackle the far-reaching challenges we are facing.In half a decade, the Barcelona GSE has grown quicklywithout sacrificing quality. We hope this pattern will continueto characterize the development of this institution and itsacademic community – a community with an enhanced roleto play in the policymaking processes that will lead towardthe much-awaited economic recovery. 11

WELCOMEMessage from Introduction fromRamon Marimon, Eduard Vallory,Chairman Director-GeneralIn times of crisis, countries, institutions and individuals Both the educational offer and the research activitiesreassess their past decisions, their past investments. of the Barcelona GSE reached new heights during theThe crisis is ruthless with some and puts pressure on all 2010-11 year. The number of students in our masterof these past investments and decisions. It’s time for good programs increased: from 148 to 163, as did the numbergovernance, foresight, and new decisions. of countries represented (increasing from 43 to 51). This year has also seen the consolidation of our masterAt the beginning of the year, Andreu Mas-Colell left the programs offer, and the early development of our continuingchairmanship of the Barcelona GSE to join the Catalan education activities, contributing to training professionalsGovernment, taking responsibility for this assessment, from Europe and all over the world. The support of theas Minister of Economy and Knowledge. Having been part institutions providing scholarships has been, once again,of the Barcelona GSE project since its inception, and member crucial to our success in attracting top bright students.of its board, I was happy to accept the challenge of replacinghim, for one main reason: it was a great decision to create On the research side, RePEc has ranked the Barcelonathe Barcelona GSE, as a joint venture of public academic GSE among the 10 top economics departments worldwide,institutions and private partners, to strengthen excellence and we have increased to 9 the number of Europeanin economic research and graduate studies through the Research Council grants among our faculty, the highestscientific cooperation of four well-established groups. of all economics institutions. Likewise, the research Endowment reached 13 million euros, helping the attractionThanks to the effort of these researchers in the Barcelona and retention of top scholars. Finally, this year the GSEarea, the public and private financial support, the leadership has changed its Chairman for the first time, with Prof. Ramonof our Board, the guidance of our Scientific Council, and the Marimon now heading the institution at this determinanteveryday work of the Barcelona GSE staff, we arrive to our stage of its consolidation.fifth anniversary with significant improvement in student intake,scientific impact, and institutional development. Although itis not for me to assess, I think we not only pass the crisis-test,but we should also fulfill Joaquín Almunia’s post-crisis highexpectations. 13

GOVERNANCE

GOVERNANCEBoard of TrusteesMr. Joaquín Almunia (Honorary President), Vice President of the European Commission and Competition CommissionerProf. Andreu Mas-Colell (Chairman), Professor at Universitat Pompeu Fabra (through December 2010)Prof. Ramon Marimon (Chairman from February 2011), Professor at European University Institute and Universitat Pompeu FabraProf. Josep-Joan Moreso, Rector of Universitat Pompeu FabraProf. Ana Ripoll, Rector of Universitat Autònoma de BarcelonaProf. Rafael Rodrigo, President of the Spanish Research Council (CSIC)Prof. Joan Majó (through December 2010) / Mr. Antoni Castellà (from January 2011),President of the Center for Research in International Economics (CREI )Prof. Pol Antràs, Professor at Harvard UniversityProf. Manuel Arellano, Professor at Center for Monetary and Financial Studies (CEMFI)Prof. Antonio Cabrales, Professor at Universidad Carlos IIIProf. Joaquim Silvestre, Professor at University of California-DavisMr. Angel Simon, President of Agbar GroupMr. Javier de Agustín, CEO of AXA Seguros EspañaDr. Josep Oliu, President of Banc SabadellDr. Narcís Serra (through January 2011) / Mr. Manel Rosell (from February 2011),President of CatalunyaCaixaProf. Jordi Gual, Chief Economist of ”la Caixa”Mr. Lluís Rullan, Board of FemCAT FoundationMr. Andreu Morillas, Secretary of Economy of the Ministry of Economy and Finance,Government of Catalonia (through December 2010)Prof. Andreu Mas-Colell, Minister of Economy and Knowledge,Government of Catalonia (from January 2011)Mr. Jordi William Carnes, Deputy Mayor, Barcelona City CouncilProf. Paulina Beato, Representative of Barcelona GSE Alumni & FriendsDirector General: Dr. Eduard Vallory 17

GOVERNANCEScientific CouncilProf. Hugo Sonnenschein (Chairman), University of ChicagoProf. Daron Acemoglu, Massachusetts Institute of TechnologyProf. Kenneth J. Arrow, Stanford UniversityProf. Orley Ashenfelter, Princeton UniversityProf. Jürgen Basedow, Max-Planck-InstitutProf. Richard Blundell, University College LondonProf. Robert D. Cooter, University of California, BerkeleyProf. Mathias Dewatripont, Université Libre de BruxellesProf. Jacques Drèze, Université Catholique de LouvainProf. Raquel Fernández, New York UniversityProf. Oliver Hart, Harvard UniversityProf. James J. Heckman, University of ChicagoProf. Bengt Holmstrom, Massachusetts Institute of TechnologyProf. Matthew O. Jackson, Stanford UniversityProf. Daniel Kahneman, Princeton UniversityProf. Timothy Kehoe, University of MinnesotaProf. Anne Krueger, SAIS, Johns Hopkins UniversityProf. Robert Lucas, University of ChicagoProf. Charles F. Manski, Northwestern UniversityProf. José María Maravall, CEACS, MadridProf. James A. Mirrlees, Cambridge UniversityProf. Juan Pablo Nicolini, Universidad Torcuato di TellaProf. Aloisio Pessoa de Araújo, IMPA i Fundaçao Getulio VargasProf. Robert C. Post, Yale Law SchoolProf. Edward C. Prescott, Arizona State UniversityProf. John Roberts, Stanford UniversityProf. Thomas J. Sargent, New York UniversityProf. Reinhard Selten, Universität BonnProf. Christopher A. Sims, Princeton UniversityProf. Robert M. Solow, Massachusetts Institute of TechnologyProf. Joseph E. Stiglitz, Columbia UniversityProf. Fabrizio Zilibotti, Universität Zürich 19

GOVERNANCEAcademic Program CouncilProf. Massimo Motta (ICREA-UPF and Barcelona GSE), DeanProf. Antoni Bosch-Domènech (UPF and Barcelona GSE)Prof. Jordi Caballé (UAB and Barcelona GSE)Prof. Teresa Garcia-Milà (UPF and Barcelona GSE)Prof. Robin Hogarth (UPF and Barcelona GSE)Prof. Inés Macho-Stadler (UAB and Barcelona GSE)Prof. Evi Pappa (UAB and Barcelona GSE)Prof. Clara Ponsatí (IAE and Barcelona GSE)Prof. Jaume Ventura (CREI-UPF and Barcelona GSE)Research CommitteeProf. Omar Licandro (IAE and Barcelona GSE), Research DirectorProf. Antoni Bosch-DomènechChair of the Department of Economics and Business at Universitat Pompeu Fabra (UPF)Prof. Jordi CaballéChair of the Department of Economics and Economic History at Universitat Autònoma de Barcelona (UAB)Prof. Jordi GalíDirector of the Center for Research in International Economics (CREI)Prof. Clara PonsatíDirector of the Institute for Economic Analysis (IAE-CSIC) 21

WHO WE ARE

WHO WE AREA reputation for teachingand research excellenceThe Barcelona Graduate School of Economicsis a Research University Institute attached to theUPF and the UAB. As such, the School promoteshigh-level research in Economics and offersgraduate programs in Economics and related fields,which are taught in English by leading internationalscholars and practitioners.Located in Barcelona, Catalonia-Spain, the School was The Barcelona GSE is situated at two campuses:launched in summer 2006 as a culmination of the many years Ciutadella (shared by UPF and CREI) and Bellaterra (shared by UAB and IAE-CSIC).of scientific cooperation of four high-caliber groups that arenow its academic bodies:The Department of Economics andBusiness at Universitat Pompeu Fabra (UPF)The Unit of Economic Analysis atUniversitat Autònoma de BarcelonaThe Institute for Economic Analysisof the Spanish Research Council (IAE-CSIC)The Center for Researchin International Economics (CREI)Thanks to the renowned faculty and support of these well-established academic bodies, the Barcelona GSE enjoysa strong reputation for teaching and research excellence.24

WHO WE ARE Programs of Study Research Activities· Master Programs · Barcelona GSE Lectures Rigorous one-year, full-time master programs that prepare These lectures bring some of the world’s most distinguished students for doctoral study and provide robust training for economists to Barcelona to present their latest research to top jobs in economics and finance-related professions the Barcelona economics community.· Summer Schools · GSE Research Recognition Program Short courses addressed to researchers, professionals and This program rewards the impressive research efforts, graduate students who want to improve their competences expressed in publications in leading journals, undertaken in specific fields of knowledge by economists affiliated with Catalan institutions.· Continuing Education · Calvó-Armengol International Prize in Economics Intensive, targeted programs for executives, professionals, Awarded every two years to a top researcher in economics and academics or social sciences younger than 40 years old for his or her contribution to the theory and comprehension of the· Reference PhD Programs mechanisms of social interaction. Graduate education at the Barcelona GSE rests upon two renowned international reference PhD programs in · Community Seminar Series and Conferences economics: GPEFM at Universitat Pompeu Fabra and IDEA The School’s four academic bodies plan a full calendar of at Universitat Autònoma de Barcelona. regularly occurring seminars, workshops, and conferences featuring internationally renowned academics, practitioners, Detailed information about Barcelona GSE programs begins and experts from institutions around the world. on page 37. · Annual Barcelona GSE “Trobada” A full-day academic gathering held each fall that includes research presentations and a roundtable discussion of a current issue in economics. Detailed information about Barcelona GSE community research activities begins on page 61. 25

Governing BodiesBOARD OF TRUSTEES SCIENTIFIC COUNCILThe Barcelona GSE is governed by a Board of Trustees Thirty-two internationally known academics, including ninecomprised of representatives of its academic institutions Nobel Economics Laureates, compose the Barcelona GSE(UPF, UAB, CSIC and CREI), private institutions (Agbar Scientific Council. This body was established to push theGroup, AXA Research Fund, Banc Sabadell, Catalunya Caixa School toward excellence in both graduate education andSavings Bank, ”la Caixa” Savings Bank, and the FemCAT research. The Council works to ensure the quality of theFoundation) and public institutions (the Ministry of Economy academic programs and the research performance of theand Knowledge of the Government of Catalonia and the School, and helps forge and enhance relationships betweenBarcelona City Council), as well as several distinguished the School and the wider academic community.academics in the field of Economics. The Board’s HonoraryPresident is Joaquín Almunia, Vice President of the European The Council is chaired by Prof. Hugo Sonnenschein, PresidentCommission and European Competition Commissioner. Emeritus of the University of Chicago, and Adam Smith Distinguished Service Professor of Economics at this university.The Board of Trustees is responsible for the overall direction The Council holds an official biannual meeting for the purposeof the School. It guides the School and draws up the rules of conducting a rigorous analysis of the institutional identitygoverning its activities. It adopts the budget and appoints of the School, the characteristics of its master programs andthe Honorary President, the Chairman, the Director-General, reference doctoral programs, and of the GSE communitythe Dean, the Scientific Council, and the Academic Program research activities. In the interim between meetings, manyCouncil. The Board meets annually in the fall. members are involved in initiatives and events of the School.A full listing of Board members can be found on page 17. A full listing of Scientific Council members can be found on page 19. ¿Habrá un pie de foto?26

WHO WE ARE Financial SupportACADEMIC PROGRAM COUNCIL AN INNOVATIVE PUBLIC-PRIVATE PARTNERSHIPThe Academic Program Council is the organ that The Barcelona GSE is the fruit of an innovative formula inacademically validates the Barcelona GSE’s master higher education: a true partnership of public and privateprograms and follows their development, as well as dealing institutions. This distinctive formula brings together thewith the academic affairs of the School. It is composed of dedication to public service of the academic bodies and theGSE Affiliated Professors and chaired by the Dean of the social commitment of the private partners. The public andSchool, Prof. Massimo Motta. private partners collaborate in the governance of the School.A full listing of Academic Program Council members The Barcelona GSE is financially supported by:can be found on page 21. Private Institutions:RESEARCH COMMITTEEThe Barcelona GSE Research Committee leads anddevelops the research policy of the School. Its members arethe heads of the four academic bodies and chaired by theBarcelona GSE Research Director, Prof. Omar Licandro.A full listing of Research Committee members can Public Institutions:be found on page 21. Consolider-Ingenio 2010: A grant obtained through the competitive “Consolider-Ingenio 2010” initiative of the Spanish Government, launched to promote research excellence. Other public and private partners of the Barcelona GSE also offer full and partial scholarships to students. Full information about the scholarships can be found in the “Scholarship Sponsors” section (page 93). 27

FACULTYFACULTY

FACULTYAffiliated Professors149 Affiliated Professors from 22 countries (2010-11),44% international, 81% hold PhDs from outside SpainThe Barcelona GSE is proud to have top economists and researchers amongits Affiliated Professors, a group of 149 academics with PhDs in economicsand related fields and with tenure or tenure-track positions at the four foundingacademic bodies of the School.Among the Barcelona GSE Affiliated Professors there are Fellows of theEconometric Society, Fellows of the European Economic Association, ResearchFellows of the Center for Economic Policy and Research (CEPR), and ResearchFellows of CESifo. They publish in the leading journals of economics and manyof the top journals of the different subfields of the discipline. They also serve ascoeditors and associate editors of these journals.A full list of 2010-11 GSE Affiliated Professors can be found on page 100.Guest ProfessorsWhile affiliated professors make up the core of the School’s faculty,the Barcelona GSE also invites academics from other universities as wellas practitioners in economics and related fields to teach in its programs.They bring the right combination of scholarship and practical experienceto the classroom. In the past academic year there were more than 60guest professors at the Barcelona GSE.A full list of 2010-11 GSE Guest Professors can be found on page 106.30

FACULTY “The core of the School is composed of world - class economists who could be in any other center of economics in the world, but have chosen Catalonia, specifically Barcelona, as their base.” Prof. Robert Solow (MIT) Nobel Prize Laureate Barcelona GSE Scientific Council MemberCountries where Affiliated Professors obtained their PhDs Universities with the most PhDs among GSE affiliated professors:18 3 1 1 2UK Netherlands Hungary Germany Sweden London School of Economics: 10 University of Minnesota: 9 European University Institute: 8 Harvard University: 8 Universitat Autònoma de Barcelona: 7 University of Pennsylvania: 7 Northwestern University: 6 Universitat Pompeu Fabra: 668 5 29 10 9 2United States Belgium Spain France Italy Switzerland 19 Catalonia 10 Rest of Spain 31

Awards & Honors for GSE FacultyEUROPEAN RESEARCH COUNCIL (ERC) GRANTS GREGORY LUEBBERT BEST ARTICLE PRIZEThe European Research Council (ERC) was launched in Prof. Laia Balcells (IAE and Barcelona GSE) has beenJanuary 2007 with a seven-year, 7.5 billion euro budget and awarded the 2011 Gregory Luebbert Best Article Prizea mandate to award frontier research grants solely on the basis together with Stathis N. Kalyvas for their article “Internationalof excellence, as judged by panels of scientific peers. These System and Technologies of Rebellion: How the End of thegrants have quickly become indicators of world-class research. Cold War Shaped Internal Conflict.” American Political ScienceTo date, nine Barcelona GSE affiliated professors have Review 104: 3, 415-429.been selected to join this “Champions League” of Europeanscientific research. HARRY FRANK GUGGENHEIM FOUNDATION RESEARCH GRANT ADVANCED GRANTS Prof. Laia Balcells (IAE and Barcelona GSE) has been Funding for cutting-edge research by the very awarded this selective grant that funds research that can best established research leaders in Europe. increase understanding and amelioration of urgent problems of violence and aggression in the modern world. Prof. Balcells Prof. Jordi Galí (CREI and Barcelona GSE) will use the grant to support her work on the “Dynamics of Prof. Jaume Ventura (CREI and Barcelona GSE) Violence in Conventional Civil Wars.” Prof. Joachim Voth (ICREA-UPF, CREI and Barcelona GSE) BANCO HERRERO PRIZE Prof. Marta Reynal-Querol (ICREA-UPF and Barcelona ERC STARTING GRANTS GSE) has been named the tenth recipient of the prestigious Support early-career top research leaders Banco Herrero Prize. The prize is awarded once a year who are consolidating an independent research and recognizes a researcher under 40 years old who has career in Europe. outstanding research accomplishments in the fields of Economics and the social sciences. Prof. Fernando Broner (CREI and Barcelona GSE) Prof. Jan Eeckhout (ICREA-UPF and Barcelona GSE) Prof. Reynal-Querol earned this distinction for her Prof. Gino Gancia (CREI and Barcelona GSE) cutting-edge, innovative research on economics, ethnic Prof. Nicola Gennaioli (CREI and Barcelona GSE) diversity, and civil strife, which has been published in the Prof. Nezih Guner (ICREA-UAB and Barcelona GSE) most relevant economic journals and has received a high Prof. Marta Reynal-Querol (ICREA-UPF and Barcelona GSE) number of citations. Past recipients of the Prize include Prof. Xavier Sala-i-Martin (Columbia University), Prof. Luis Garicano (London School of Economics), and Prof. Pol Antràs (Harvard University).32

FACULTYRAMON ARECES FOUNDATION GRANT ICREA RESEARCH PROFESSORSProf. Marta Reynal-Querol (ICREA-UPF and Barcelona ICREA, the Catalan Institution for Research and AdvancedGSE) has been awarded a grant from the Ramón Areces Studies, is a publicly funded foundation designed to attractFoundation for young researchers. These grants are and retain talent in Catalonia. The institution is highly selective,awarded annually to support advancements in the operating through competitive international calls and veryunderstanding of technological, economic and social rigorous external evaluation of candidates.underpinnings of globalization. Presently in its tenth year of operation, ICREA has hired more than 260 researchers in a variety of fields, with 29 NEW LEADERSHIP APPOINTMENTS researchers in the social sciences. Nearly half of ICREA’s social sciences researchers are Barcelona GSE affiliated faculty. Prof. Albert Carreras (UPF and Barcelona GSE) President of the European Business History Association MINISTRY OF SCIENCE AND INNOVATION (EBHA), 2010-2011 FELLOWSHIPS Prof. Joan M. Esteban (IAE and Barcelona GSE) More than 20 Barcelona GSE affiliated professors have Secretary General of the International Economic received the prestigious Ramón y Cajal or Juan de la Cierva Association (2011-2017) Fellowships, established in 2001 by the Spanish government. Both programs aim to attract and retain promising scholars Prof. Jordi Galí (CREI-UPF and Barcelona GSE) to conduct their research at universities and public and private President Elect of the European Economic Association non-profit R&D centers throughout Spain. Prof. Guillem López-Casasnovas In 2010, Prof. Rosario Crinò (IAE and Barcelona GSE) (UPF and Barcelona GSE) became the latest Barcelona GSE Affiliated Professor to Advisor to the World Health Organization (WHO) receive the Juan de la Cierva Fellowship. Prof. Ramon Marimon (EUI, UPF and Barcelona GSE) President Elect of the Society for Economic Dynamics Prof. Pau Olivella (UAB and Barcelona GSE) Member of the Editorial Board of the Encyclopedia of Health Economics Prof. Marta Reynal-Querol (ICREA-UPF and Barcelona GSE) Council Member of the European Economic Association (EEA), 2011-2015 33

PROGRAMS

PROGRAMSREMARKS FROM MASSIMO MOTTA,DEAN OF THE BARCELONA GSEMonetary policy. Immigration. Energy. Public health. As formerAssistant Secretary for Economic Policy and Chief Economistat the U.S. Treasury Department Alan Krueger told GSEstudents at this year’s opening lecture, it is doubtful that theseissues will be resolved without the active involvement of trainedeconomists, both in the academic and professional spheres.Graduate education at the Barcelona GSE aims to providethe tools and training needed to perform deep and meaningfulanalysis through an economic lens. The School’s academicoffer includes one-year master programs, short summerschools, and intensive continuing education courses. Eachprogram is designed and directed by expert faculty with a trackrecord of personal achievement in their fields and a portfolioof successful students who have gone on to amaze us withtheir own accomplishments.Recent graduates, young professionals, aspiring doctoralcandidates, researchers, experienced economists andtop-level executives and policymakers use Barcelona GSEprograms as a springboard to propel them in the direction oftheir individual career goals. It is our job to inspire the energyand confidence our students will need to make that leap. 37

PROGRAMS Barcelona GSE Master Programs The Barcelona GSE offered six master programs PROGRAM STRUCTURE in the 2010-11 academic year. Barcelona GSE master degrees are full-time, nine-month programs structured in three terms: fall (September- December), winter (January-March), and spring (April-June).· Competition and Market Regulation The programs require the successful completion of 60 ECTS· Economics (European Credit Transfer System) credits of graduate courses some compulsory and some elective.· Economics of Science and Innovation· Finance DEGREE Graduates of the Economics Program and Finance· International Trade, Finance and Development Program receive the Master Degree in Economics and Finance,· Macroeconomic Policy and Financial Markets awarded by UPF. All programs are taught entirely in English and are Graduates of the Competition and Market Regulation, grounded in rigorous and challenging academics. Economics of Science and Innovation, International Trade, The master programs are guided by the Barcelona Finance, and Development, and Macroeconomic Policy GSE Academic Program Council, the advisory organ and Financial Markets programs receive the Master Degree that academically validates the master programs and in Specialized Economic Analysis, awarded jointly follows their development. It is composed of GSE by UPF and UAB. Affiliated Professors and directed by the Dean of the School, Prof. Massimo Motta. METHODOLOGY The Barcelona GSE classroom experience features lectures and seminars. Seminars provide students with the opportunity to share ideas and experiences as well as to challenge each other with differing points of view. They also give students greater access to their professors, who make a constant effort to be available to answer questions and offer guidance outside of class. The academic performance of each student is reviewed regularly. Attention is given to the maintenance of normal academic progress through a combination of formal written examinations and coursework. All students complete a master project in the spring term. 38

PROGRAMSStudent Profile (2010 -11)88% INTERNATIONAL STUDENT BODY, All 51 countries by region51 NATIONALITIES REPRESENTED Europe Russia North America Armenia Serbia and CanadaBarcelona GSE students are characterized Austria Montenegro Mexicoby their outstanding academic backgrounds Belgium Slovenia United Statesand their commitment to excel in graduate Bulgaria Spainstudies. The School is 88% international, with Croatia Sweden Asia, Africa,an enriching mixture of cultural perspectives Czech Republic Switzerland Oceaniaand a multitude of experiences that offers Estonia United Kingdom Afghanistana learning experience unto itself. Finland China France Central and IndiaIntake of students: 163 Germany South America IranNationalities: 51 Hungary Argentina JapanAverage age: 25 years old Iceland Bolivia LebanonGender: 34% Women, 66% Men Ireland Brazil Philippines Italy Chile South Africa 3% Academic Background Latvia Colombia Turkey 9% Economics and Finance: 68% Lithuania Ecuador Vietnam 10% Management and Business Luxembourg Guatemala 10% Administration: 10% Netherlands Peru 68% Social Sciences / Law: 10% Poland Uruguay Mathematics and Engineering: 9% Portugal Venezuela Sciences: 3% RomaniaCountries with the most students Growth of student intake since 2007 160 163 148 120 126 # of students 80 87 40 0 2007-08 2008-09 2009-10 2010-117 6 7 7 20 17 23 6United Mexico Peru Brazil Spain Italy Germany India Academic yearsStates 10 Catalonia 10 Rest of Spain 39

Competition and Market RegulationProf. Juan José Ganuza Competition and Market RegulationProgram Director As competition policy becomes increasingly relevant in both the public and private sectors, there is a great need for professionals prepared to address market regulation issues. The highly practical focus of the program assures that students graduate with sound job prospects in their chosen field and an advanced understanding of the interaction between economic theory and practice. Context for the academic coursework is provided by the Regulation and Competition Seminar Series, which brings specialists at the forefront of their field to present their research in a rigorous but non-technical manner. In addition to giving students a variety of perspectives on regulatory issues, it also gives them an opportunity to network with top professionals in the industry.STUDENT PROFILE2010-11 Nationalities Years of Work Experience Prior to Master Program 6% 6% Europe (non-Spanish): 53% 12% Central and South America: 23% 8 7 Spain: 12% 53% # of students 6 23% Asia, Africa, Oceania: 6% 5 North America: 6% 4 3 2 1 0 Academic Background 0 0-1 1-2 2-3 3-4 4-5 5 or more 18% Economics and Finance: 82% # of years Management and Business Administration: 18% 82%40

PROGRAMSEconomicsProf. Antonio Ciccone EconomicsProgram Director The Economics Program provides rigorous training in economics. It aims to endow students with a deep understanding of the field and a powerful set of analytical tools. Students who complete the program will have acquired an excellent grounding in their field and the analytical skills required for a technically demanding job or admission to the most prestigious doctoral programs. Each year, up to 20% of students in the program continue their studies in one of the highly selective reference doctoral programs of the Barcelona GSE, GPEFM of UPF or IDEA of UAB.STUDENT PROFILE2010-11 Nationalities Years of Work Experience Prior to Master Program 10% Europe (non-Spanish): 59% 60 59% 10% Spain: 13% Central and South America: 10% 50 8% # of students North America: 10% 40 13% Asia, Africa, Oceania: 8% 30 20 10 2% Academic Background 2% 0 4% Economics and Finance: 88% 0 0-1 1-2 2-3 3-4 4-5 5 or more 4% # of years Mathematics and Engineering: 4% Social Sciences / Law: 4% Management and Business 88% Administration: 2% Sciences: 2% 41

Economics of Science and InnovationProf. David Pérez-Castrillo Prof. Salvador Barberà Economics of Science and InnovationProgram Director Scientific Director The Economics of Science and Innovation Program examines the economic challenges faced by science and technology, the anticipated difficulties, and offers solutions while considering the timing of the foreseeable transfer process from basic research results to applications. Students will be able to make realistic assessments of the perspectives generated by each development, its potential economic impact, the obstacles it presents, and its sources of support. Graduates have gone on to pursue management careers in research centers, innovative firms, public administrations and intermediate institutions geared toward promoting research and development activities.STUDENT PROFILE2010-11 Nationalities Years of Work Experience Prior to Master Program 11% Europe (non-Spanish): 28% 28% Asia, Africa, Oceania: 22% 6 17% Central and South America: 22% 5 # of students Spain: 17% 4 22% 22% North America: 11% 3 2 1 0 Academic Background 0 0-1 1-2 2-3 3-4 4-5 5 or more 11% Mathematics and Engineering: 39% # of years 16% Management and Business 39% Administration: 17% 17% Sciences: 17% Economics and Finance: 16% 17% Social Sciences / Law: 11%42

PROGRAMSFinanceProf. Javier Gil-Bazo Prof. Xavier Freixas FinanceProgram Director Scientific Director The Finance Program provides strong training in the tools of financial economics sought by financial institutions, companies and public organizations. It combines a rigorous academic core with tailored practical application, designed in consultation with leading financial experts. Former students are employed at top investment banks, financial consultancies, and government finance ministries. Many have gone on to pursue doctoral research in financial economics at prestigious EU and US universities. Classroom study is complimented with specially- organized Financial Institution Seminars, during which students have the opportunity to meet professionals from top financial institutions. Seminars cover areas such as Hedge Funds, Venture Captital, Central Banks Reserve Management, andSTUDENT PROFILE Investment Banking.2010-11 Nationalities Years of Work Experience Prior to Master Program 10% Europe (non-Spanish): 38% 14% Central and South America: 24% 9 38% 8 Asia, Africa, Oceania: 14% 7 14% # of students Spain: 14% 6 North America: 10% 5 24% 4 3 2 1 0 5% Academic Background 0 0-1 1-2 2-3 3-4 4-5 5 or more 13% Economics and Finance: 62% # of years Management and Business Administration: 19% 26% 62% Mathematics and Engineering: 14% Social Sciences / Law: 5% 43

International Trade, Finance and DevelopmentProf. Hans-Joachim Voth Prof. Fernando Broner International Trade, Finance and DevelopmentProgram Director Prof. Antonio Ciccone The International Trade, Finance, and Development program Prof. Jaume Ventura combines rigorous analytical training with a strong focus on policy. Steering Committee Policy courses draw a connection between economic analysis and real-life situations in which the professors have expert knowledge, whether it is in reshaping policy, devising trading strategies, or helping children in Africa. In the spring term, leading policy specialists from international organizations, NGOs, or private corporations join the program faculty to lead a series of policy courses that provide a real-world perspective on topics covered in class. Graduates are will be well equipped for employment in development organizations, NGOs, government agencies, central banks, multinational firms, and investment banks.STUDENT PROFILE2010-11 8% Nationalities Years of Work Experience Prior to Master Program 8% Europe (non-Spanish): 47% 12 11% Central and South America: 26% 47% Asia, Africa, Oceania: 11% 10 # of students North America: 8% 8 26% Spain: 8% 6 4 2 0 5% Academic Background 0 0-1 1-2 2-3 3-4 4-5 5 or more 11% Economics and Finance: 66% # of years Social Sciences: 18%18% Management and Business 66% Administration: 11% Mathematics and Engineering: 5%44

PROGRAMSMacroeconomic Policy and Financial MarketsProf. Francesc Obiols Prof. Albert Marcet Macroeconomic Policy and Financial MarketsProgram Director Scientific Director The Macroeconomic Policy and Financial Markets Program is a professionally-oriented master program designed not only to equip students with a comprehensive understanding of the dynamics affecting financial policy, but also to train them to use breakthrough analytical tools to assess the environment prior to making decisions. Graduates are prepared for immediate employment in government institutions, central banks, investment banks, financial and development agencies, and consulting firms.STUDENT PROFILE2010-11 Nationalities Years of Work Experience Prior to Master Program 12% Europe (non-Spanish): 64% 7 12% Asia, Africa, Oceania: 12% Central and South America: 12% 612% # of students 64% Spain: 12% 5 4 3 2 1 0 6% Academic Background 0 0-1 1-2 2-3 3-4 4-5 5 or more 12% Economics and Finance: 59% # of years Social Sciences / Law: 23% 59% Management and Business 23% Administration: 12% Mathematics and Engineering: 6% 45

Alumni PlacementBarcelona GSE alumni pursue a variety of professional PROFESSIONAL PLACEMENTSand academic career paths after graduation. Those entering Authorities / Government Agenciesthe work force apply their rigorous training in positions with · European Commissiongovernment agencies and authorities, banks, consulting · Superintendence of Banking, Insurancefirms, international organizations, research foundations, and Pension Fund in Peruand leading companies in the private sector. · Swedish Competition AuthorityMany GSE graduates who choose to continue on with Bankingdoctoral study do so in one of the reference doctoral · Banc Sabadellprograms of the GSE, the GPEFM at UPF or the IDEA · Banco Santanderprogram at UAB. Some alumni have been accepted to other · Bank of Braziltop institutions throughout Europe and the United States, · Bank of Chilesuch as European University Institute, London School · Bank of Englandof Economics, and Wharton School of Business. · Bank of Latvia · Bank of Mexico · Bank of Vietnam · Citigroup · European Central Bank · “La Caixa” Savings Bank Consulting Firms · Accenture · Boston Consulting Group · Brunswick Group · Deloitte · LECGX Pau Agulló · OXERA Consulting Director · PricewaterhouseCoopers Neo Metrics (Barcelona) International Organizations“The GSE graduates that we have hired · Finpro · German Society for International Cooperation (GIZ) in the past have been working out · Organisation for Economic Co-operation excellently from day one in our company, and Development (OECD) · Procredit Group and that is why we come back year after · World Bank year for our recruiting efforts.” · World Trade Organization 46

PROGRAMS Private Sector RECRUITING EVENTS · Arkas Holding This year the Barcelona GSE held several recruiting · Chargebox events on campus that put students in direct· LEAR contact with representatives from top companies· Procter & Gamble and doctoral programs: Research Foundations/Institutes Companies· Harvard University · Bank of Spain· IESE Business School · Bax & Willems Consulting· University of Toronto · Frontier Economics · “la Caixa” Savings Bank · LECG · Neo Metrics Consulting DOCTORAL PROGRAM PLACEMENTS · OXERA Europe· ICADE School of Business and Economics PhD programs:· IFO Research Institute · European University Institute· INCAE Business School · Universitat Autònoma de Barcelona· London School of Economics · Universitat Pompeu Fabra· Swiss Finance Institute· Universitat de Barcelona· Universitat Pompeu Fabra· University of Bologna ALUMNI NETWORK· University of Mannheim The School began developing an Alumni Network· University of Zurich in early 2009 to foster continued interaction and· University Rovira i Virgili professional contact with alumni. The objective of · Vienna Graduate School of Economics this initiative is to provide a platform for graduates to network and to exchange professional best- United States practices, job opportunities, and advice.· Harvard University· Johns Hopkins University GSE Alumni Network Features· New York University · Exclusive Alumni Directory· Northwestern University · Access to Job Postings· Stanford University · Membership in LinkedIn Community· University of Rochester · Tools for Recruiters 47

Reference Doctoral ProgramsGraduate education at the Barcelona GSE rests upon Graduate Program in Economics,the foundations of two renowned international reference Finance and Management (GPEFM)doctoral programs: the GPEFM at UPF and the IDEAat UAB. Offered by the Department of Economics and Business of the UPF, GPEFM has awarded more than 180 PhD degrees sinceThese two programs, both ranked in the top 15 in Europe, it was launched in 1993. GPEFM is a partner in the Europeanhelp impel the substantial research activity of the academic Doctoral Program (EDP) in Quantitative Economics, a jointcommunity. The majority of Barcelona GSE affiliated faculty initiative with five other top European economics departments.are involved with the reference PhD programs, reinforcing econ.upf.edu/gpemthe teaching excellence of the School.Some students in the Barcelona GSE master programs International Doctorateaspire to continue their studies in a top level PhD program. in Economic Analysis (IDEA)Many of these students seek admission into the referencePhD programs of the Barcelona GSE. In the Class of 2010- IDEA is offered by the Unit of Economic Analysis of the UAB.11, 12 GSE master program graduates entered the second Since its launch in 1991, it has awarded 150 PhD degrees.year of the official master that precedes entry into the IDEA is part of the European Network for Training in Economicprograms. Research (ENTER), a network of doctoral programs with seven other leading European economics departments. idea.uab.cat48

PROGRAMS Countries of Origin of 2010-11 GPEFM and IDEA Students: Argentina Ecuador Morocco Slovenia Austria France Netherlands Spain Belgium Germany Peru Thailand Bolivia India Poland Turkey Bulgaria Italy Portugal Ukraine China Malaysia Russia Uruguay Croatia Mexico Serbia VenezuelaOverview of Programs Program Number of Students Number of PhDs awarded in the 2010-11 academic year GPEFM 59 14 IDEA 70 5 49

Barcelona GSE Summer ProgramsBANKING, LABOR ECONOMICS, AND MICROECONOMETRICS SUMMER SCHOOLTotal Attendance: Banking 2011:257 participants from 41 countries 60 participants from 20 countriesIn June and July 2011, the Barcelona GSE offered three short Directors: Prof. Xavier Freixas (UPF and Barcelona GSE)summer school programs geared toward professionals and and Prof. Moshe Kim (University of Haifa)academics. The programs provide a diverse range of courses The Banking Summer School offers a variety of coursestaught by renowned academics and leading practitioners. taught by recognized experts in their fields covering recentEach course lasts one week, and participants may combine developments in different areas of banking, includingcourses from one or more of the programs to build a summer theoretical and empirical aspects of banking, bankingschool experience tailored to their individual goals. regulation and supervision, financial markets and payments systems. A call for papers gave students the chance toWhile the international student body comes from a variety present their own research.of educational backgrounds, the majority are professionalsholding at least a master degree, with a considerable number Labor Economics 2011:also holding PhDs. 61 participants from 21 countries Director: Prof. Maia Güell (University of Edinburgh, UPF (onThis year, 16 participants from the 2010 edition of Barcelona leave), and Barcelona GSE)GSE Summer Schools returned to build on the courses taken The Labor Economics Summer School covers a wide rangethe previous summer. Several alumni of the Barcelona GSE of topics in labor economics from a variety of perspectives.master programs and reference PhD programs also joined the In particular, the program offers courses that cover recentSummer School courses. developments within the macro-labor, micro-labor and managerial-labor contexts. In each course, both theoretical and empirical aspects are covered.50

PROGRAMSMicroeconometrics 2011: BANKING FACULTY136 participants from 33 countriesDirector: Prof. Sergi Jiménez-Martín Hans Degryse (Tilburg University) Xavier Freixas (UPF and Barcelona GSE)(UPF and Barcelona GSE) Moshe Kim (University of Haifa)The Microeconometrics Summer School is designed to teach Steven Ongena (Tilburg University)professionals and academics the latest techniques in datahandling in response to the significant growth in the number LABOR ECONOMICS FACULTYof academic jobs of an empirical nature as well as theincreasing number of studies commissioned by public and Ghazala Azmat (UPF and Barcelona GSE) Maia Güell (University of Edinburgh,private institutions. Participants work with linear regression UPF and Barcelona GSE)tools in a practical lab course. Sendhil Mullainathan (Harvard University) Robert Shimer (University of Chicago) MICROECONOMETRICS FACULTY Victor Aguirreabiria (University of Toronto) Badi Baltagi (Syracuse University) Gabrielle Fack (UPF and Barcelona GSE) Sergi Jiménez-Martín (UPF and Barcelona GSE) Stephan Litschig (UPF and Barcelona GSE) 51

ZVI GRILICHES RESEARCH SEMINAR ZVI GRILICHES KEYNOTE SPEAKERS50 participants from 30 institutions in 10 countries John von ReenenProf. Isabel Busom (UAB) and Prof. Bruno Cassiman (London School of Economics)(IESE Business School) Alfonso GambardellaThe “Zvi Griliches” Research Seminar in the Economics (Università Commerciale “Luigi Bocconi”)of Innovation is hosted by the Barcelona GSE and sponsored Fernando Galindo-Ruedaby COTEC, a foundation for the promotion of technological (OECD Directorate for Science,innovation and awareness whose board includes the directors Technology and Industry)of many of Spain’s best-known companies, and FECYT,the Spanish Foundation for Science and Technology.The program promotes interactions between academicresearchers, innovation policy practitioners, statistical officeanalysts and PhD students with a general interest in analyzingtechnological innovation from an economic point of view.This is achieved through the combination of compellingkeynote speakers and the presentation of a selection ofleading research papers (only 17 out of 50 papers submittedwere accepted for presentation).In addition to the keynote speakers and participants comingfrom around the world, five graduates of the GSE’s Economicsof Science and Innovation (MESI) master program attendedthe sessions. All program fees are waived for MESI graduates.52

PROGRAMSContinuing EducationBarcelona GSE continuing education programsare intensive, targeted courses for executives,professionals, and academics. In the 2010-11academic year, the GSE offered two continuingeducations programs:Intensive Course on Competition Economics: Global Health Leadership Forum (GHLF)Abuse of DominanceNew for 2010-11, the course provides a thorough This innovative program for senior health executives, nowunderstanding of the most recent economic theories in its eighth edition, uses a mixture of case studies, seminars,of monopolization, apply these concepts in practice, workshops and an independent project to explore cuttingand review actual cases in the light of an effects-based edge approaches that address health policy issues of globalapproach. importance. 53

INTENSIVE COURSE ON COMPETITION ECONOMICS: ABUSE OF DOMINANCE This spring the Barcelona GSE held the first edition of its four-day Intensive Course on Competition Economics: Abuse of Dominance. Course sessions covered topics such as Predation, Rebates, and Exclusive Dealing, as well as case studies on intellectual property rights and energy. The wide appeal of the course topic drew participants from across the spectrum of professional and academic fields dealing with competition economics. Among the 56 participants were presidents and directors of public and private institutions, judges, ministers, lawyers, economists and analysists, inspectors and case handlers, regulatory advisors, professors, postdocs, and doctoral students. Some had over thirty years of experience in the field, while others were newly-minted graduates. Demand for places was so high that the course “sold out” weeks before sessions began, leaving a number of applicants on the waitlist.54

PROGRAMS2011 COMPETITION COURSE FACULTY EMPLOYERS AND INSTITUTIONS OF PARTICIPANTSGiulio Federico Competition Commissions such as:(Charles River Associates, IESE SP-SP, and Barcelona · Chilean Competition TribunalGSE guest professor) · Competition Commission of South Africa · Czech Office for the Protection of CompetitionChiara Fumagalli · Hungarian Competition Commission(Bocconi University) · National Competition Commission (Spain) · National Energy Commission (Spain)Massimo Motta · NMa - Dutch Competition Authority (Netherlands)(ICREA-UPF and Barcelona GSE) · Swedish Competition AuthorityJorge Padilla Consulting and Law firms including:(LECG and Barcelona GSE guest professor) · IESE (Catalonia-Spain) · Copenhaguen Economics (Denmark) · Linklaters LLP (UK) · Universidad de los Andes (Colombia)COURSE DIRECTORS · Universidad Adolfo Ibáñez (Chile)Giulio Federico Energy and telecommunications companies:(Charles River Associates, IESE SP-SP, and Barcelona · Dong Energy (Denmark)GSE guest professor) · Endesa (Spain) · Swisscom (Switzerland)Massimo Motta · Telenet (Belgium)(ICREA-UPF and Barcelona GSE) 55

GLOBAL HEALTH LEADERSHIP FORUM (GHLF) For the past three years, the Barcelona GSE has hosted the Global Health Leadership Forum (GHLF) on its campus. Created by the UPF Center for Research in Health and Economics (CRES) and the UC Berkeley School of Public Health, the GHLF is an executive education program consisting of two intense one-week sessions. The sessions are held six months apart in Barcelona and Berkeley respectively. The objective of the program is to bring together senior executives of nations (health ministers or senior policy leaders, legislators and regulators), senior executives of organizations (e.g. World Bank, OECD, PAHO) and senior executives of companies (insurance, pharmaceutical, health care delivery, care management) to share best practices, know-how, and the latest research through case studies, seminars, workshops, and field excursions. Each participant also prepares and presents an individual project. Including speakers and participants, 39 senior health executives gathered on the GSE’s campus for the 2011 edition of the GHLF. They included 20 internationally reknowned speakers that work in diverse health related areas such as: health economics, insurance, policy, pharmaceuticals, and biotechnology. Countries represented included Canada, France, Greece, Indonesia, Kenya, Saudi Arabia, Singapore, the United Kingdom, and the United States.56

PROGRAMS 2011 GHLF FACULTY INCLUDED: BOARD OF DIRECTORS Dr. Panos Kanavos, Reader in International Health Jaume Puig-Junoy Policy in the Department of Social Policy and Head of (UPF-CRES and Barcelona GSE) the Medical Technology Research Unit at LSE Health Guillem López-Casasnovas Dr. Joseph Kutzin, Head of the WHO Barcelona (UPF-CRES and Barcelona GSE) Office for Health Systems Strengthening Richard Scheffler Dr. Ellen Nolte, Director of Health and Healthcare (UC Berkeley) of RAND Europe Stephen M. Shortell Dr. James Rice, Executive Vice President & Practice (UC Berkeley) Leader, Integrated Healthcare Strategies Co-director and Coordinator: Dr. Lise Rochaix, Chair of the French Senate Ivan Planas Miret for Health Care Priority Setting (UPF-CRES)SPONSORS 57

RESEARCH

RESEARCHREMARKS FROM OMAR LICANDRO,RESEARCH DIRECTORThis year the Barcelona GSE has taken a step forwardtoward a more integrated research community. The qualityand number of seminars and workshops has increased,as has publication in top journals. The GSE is a highly reputedresearch institute worldwide, facing the main challenge todayof becoming a global leader, where the knowledge frontierin economics is debated and defined. Its research policy aimsto attract and retain talented economists, and to developa highly dynamic research environment supporting andstrengthening top-quality research. Among these excellentscholars are the Presidents of the European EconomicAssociation and the Society for Economics Dynamics, theSecretary General of the International Economic Association,and a Program Director of the CEPR. 61

RESEARCHBarcelona GSE Lecture SeriesOrganized with support from Banc Sabadell, the Barcelona GSE LectureSeries brings some of the world’s top scholars in economics to Barcelonato share their research with the GSE community.Past speakers have included:Prof. Tim Besley (London School of Economics)Prof. Mathias Dewatripont (Université Libre de Bruxelles)Prof. Edward C. Prescott (2004 Nobel Prize in Economics)Prof. Hugo Sonnenschein (University of Chicago)Mr. Jean-Claude Trichet (President, European Central Bank)BARCELONA GSE LECTURES 2010-11Prof. Jean Tirole Prof. Alberto AlesinaToulouse School of Economics Harvard University“Regulating systemic risk” “Fiscal policy after the Great Recession” 63

RESEARCHCommunity Seminars and ConferencesMore than 250 seminars and conferences in SEMINAR SERIES ORGANIZEDregularly occurring seminar series and special events, BY THE BARCELONA GSE COMMUNITYcovering the latest research across the spectrumof economics fields · Applied Lunch Seminars (UPF) · Barcelona Economics Decision Group SeminarsThe Barcelona GSE is part of a vibrant and busy · Barcelona GSE Lectureseconomics community in Barcelona. The four academic · Barcelona JOCS Seminars on Game Theory and Applicationsbodies of the School plan numerous regularly occurringseminars, workshops, and conferences featuring · “Bellaterra” Applied Seminars (UAB-IAE)internationally renowned academics, practitioners, · “Bellaterra” Macroeconomics Seminars (UAB-IAE)and experts from around the world. · “Bellaterra” Microeconomics Seminars (UAB-IAE) · Center for Research in Economics and Health Seminars (UPF-CRES) · CREI-DEE Seminars · Economic and Business History Seminars (UPF) · Finance Seminars (UPF) · Financial Institutions Seminars (Barcelona GSE-UPF) · IAE “Informal” Seminars · INSIDE Workshops (IAE) · Internal Micro and Behavioral Economics Seminars (UPF) · Internal Workshops (IAE) · International Lunch Seminars (CREI) · Labor, Public and Development Seminars (UPF) · Labor, Public and Development Faculty Lunches (UPF) · Lunch Seminars on Social Choice and Game Theory (UAB-IAE)Barcelona GSE “Trobada” VIII · Macroeconomics Breakfasts (CREI) · Macroeconomics Workshops (UAB) · Management and Behavioral Research Breakfasts (UPF) · Management and Organizational Studies Seminars (UPF) · Microeconomics Seminars (UPF) · Microeconomics Workshops (UAB) · Occasional Econometric Seminars (UPF) · Regulation and Competition Seminar Series (Barcelona GSE-UPF) · Statistics and Operational Research Seminars (UPF)64

RESEARCH KEY CONFERENCES IN THE BARCELONA GSE COMMUNITY (OCTOBER 2010-JULY 2011) Listed Chronologically Fall Spring· CEPR Development Economics Workshop (CREMed and UPF) · VII International Meeting on Experimental and Behavioral· Barcelona GSE “Trobada” VIII Economics (IAE, UPF, UAB)· GSE-CEPR-CREI-IAE Workshop Towards Sustained · MOVE Workshop on Venture Capital (UAB) Economic Growth · CREI Conference on Politics, Information and Macroeconomy· CREI-CEPR Workshop on Changes in Labor Market Dynamics · XIII Workshop in International Economics and Finance (CREI)· MOVE Workshop on Selection of Politicians (UAB) Lima, Peru · CREI Conference on Information, Beliefs and Expectations in Macroeconomics Winter · IV Workshop on Gender Economics (IAE)· MOVE-Urrutia Elejalde Workshop on Information, Dynamics and Political Decision Making (UAB) · ThReD Conference 2011 (IAE)· MOVE Workshop on the Well-Being of Youth (UAB) · MOVE-ISER Joint Workshop on Game Theory and Social Choice· 16th Coalition Theory Network Workshop (UAB) · LeeX International Conference on Theoretical and Experimental Macroeconomics (UPF)· ACCIO-IESE-MOVE Workshop on Innovation (UAB) · IDEA Workshop: 20 Years of the International Doctorate· ICREA-MOVE Workshop on Family Economics (UAB) in Economic Analysis · UAB-BBVA Workshop on Votes and Incentives, in honor of Prof. Salvador Barberà · INSIDE-IAE-MOVE Seminar on Multilateral Resistance to Migration · Priorat Workshop in Theoretical Political Science (IAE-UAB) · II CREMed Workshop on Economics of the Mediterranean and the Euromediterranean Process · INSIDE-IAE-MOVE Seminar on the Wage Effects of Immigration and Emigration · INSIDE-IAE-MOVE Workshop on Child Well-being and Migration · INSIDE-IAE-MOVE Seminar on Multilateral Resistance to Migration · CREI-CEPR Conference on Institutions and International Capital Flows 65

PublicationsAFFILIATED FACULTY RESEARCH OUTPUT RESEARCH RECOGNITION PROGRAMAffiliated professors of the Barcelona GSE publish their The Barcelona GSE Research Recognition Program aims toresearch widely, including the five top general journals acknowledge any researcher in economics who is affiliated(American Economic Review, Econometrica, Journal with a Catalan institution and has published in a list ofof Political Economy, Quarterly Journal of Economics, international economic journals of high impact in the lastand Review of Economic Studies) and many specialized three years. GSE affiliated professors who qualify for thejournals. The combined research output of the academic Recognition Program acquire the condition of Barcelona GSEbodies of the Barcelona GSE places the institutions Research Fellow, while those who are not affiliated professorsat the forefront of research groups in Europe. are considered External Research Fellows. A full listing of External Research Fellows can be found on page 109.RESEARCH RANKINGSThe following are the Barcelona GSE’s rankingsin scientific output as measured by:RePEc (Research Papers in Economics)released in June 2011#15 Top Economic Institutions (worldwide)#10 Top Economics Departments (worldwide)#3 Top European Institutions#1 Top Institutions in SpainJournal of the European Economic Association“Research and Higher Education in Economics:Can We Deliver The Lisbon Objectives?” May 2007#20 Research Output (Europe and United States combined)#2/3 Research Output in Europe66

RESEARCHBARCELONA GSE FACULTY 2010 PUBLICATIONS INCLUDED IN THE RECOGNITION PROGRAMAbbink, K.; J. Brandts, B. Herrmann, and H. Orzen. “Inter-group Azmat, G. and N. Iriberri. “The importance of relativeCompetition and Intra-group Punishment in an Experimental performance feedback information: Evidence from a naturalContest Game.” American Economic Review, 100, 420–447, experiment using high school students.” Journal of Public2010. Economics, 94(7-8), 435–452, 2010.Alcalde-Unzu, J. and M.A. Ballester. “On Ranking Opportunity Banal-Estañol, A.; P. Heidhues, R. Nitsche, and Jo.Distributions.” Social Choice and Welfare, 34, 3–31, 2010. Seldeslachts. “Screening and merger activity.” Journal of Industrial Economics, 58(4), 794–817, 2010.Algan, Y.; C. Dustmann, A. Glitz, and A. Manning. “The economicsituation of first- and second-generation immigrants in France, Barberà, S.; D. Berga, and B. Moreno. “Individual versus groupGermany and the UK.” Economic Journal, 120(542), 4–30, 2010. strategy–proofness: when do they coincide?” Journal of Economic Theory 145(5), 1648–1674, 2010.Apesteguia, J. and M.A. Ballester. “The computationalcomplexity of rationalizing behavior.” Journal of Mathematical Barberà, S. and D. Coelho. “On the Rule of k Names.” GamesEconomics, 46(3), 356–363, 2010. and Economic Behavior, 70(1), 44–61, 2010. Special issue in Honor of Ehud Kalai.Apesteguia, J.; S. Huck, J. Oechssler, and S. Weidenholzer.“Imitation and the evolution of Walrasian behavior: Theoretically Beviá, C. “Manipulation games in Economies withfragile but behaviorally robust.” Journal of Economic Theory, Indivisible Goods.” International Journal of Game Theory, 39(1),145(5), 1603–1617, 2010. 209–222, 2010.Apesteguia, J. and I. Palacios-Huerta. “Psychological pressure Beviá, C. and L. Corchón. “Peace Agreements withoutin competitive environments: Evidence from a randomized natural commitment.” Games and Economic Behavior, 68 (2),experiment.” American Economic Review, 100(5), 2548–2564, 469–487, 2010.2010. Blanchard, O. and J. Galí. “Labor market frictions and monetaryArmenter, R. and F. Ortega. “Credible redistribution policies and policy: A new Keynesian model with unemployment.” Americanmigration across US States.” Review of Economic Dynamics, Economic Journal: Macroeconomic, 2(2), 1–30, 2010.13(2), 403–423, 2010. Bosch, M.; M.A. Carnero, and L. Farré. “Information andArruñada, B. “Protestants and Catholics: Similar work Discrimination in the Rental Housing Market: Evidence fromethic, different social ethic.” The Economic Journal, 120(547), a Field Experiment.” Regional Science and Urban Economics,890–918, 2010. 40, 11–19, 2010. 67

Brandts, J.; K. Gërxhani, and A. Schram. “Information, Bilateral Djankov, S. and M. Reynal-Querol. “Poverty and civil war:Negotiation and Worker Recruitment.” European Economic Revisiting the evidence.” Review of Economics and Statistics,Review, 54, 1035–1058, 2010. 92(4), 1035–1041, 2010.Brandts, J.; K. Gërxhani, A. Schram, and J. Ygosse-Battisti. Dustmann, C.; A. Glitz, and T. Vogel. “Employment, wages, and“Size Doesn’t Matter! Gift Exchange in Experimental Labor the economic cycle: Differences between immigrants and natives.”Markets.” Journal of Economic Behavior and Organization, European Economic Review, 54(1), 1–17, 2010.76, 544–548, 2010. Eeckhout, J. and P. Kircher. “Sorting and decentralized priceBrandts, J. and C. Solà. “Personal Relations and Their Effect competition.” Econometrica, 78(2), 539–574, 2010.on Behavior in an Organizational Setting: An Experimental Study.”Journal of Economic Behavior and Organization, 73, Eeckhout, J. and P. Kircher. “Sorting versus screening: Search246–253, 2010. frictions and competing mechanisms.” Journal of Economic Theory, 145(4), 1354–1385, 2010.Broner, F.; A. Martin, and J. Ventura. “Sovereign risk andsecondary markets.” American Economic Review, 100(4), Eeckhout, J.; N. Persico, and P.E. Todd. “A theory of optimal1523–1555, 2010. random crackdowns.” American Economic Review, 100(3), 1104–1135, 2010.Bruckner, M. and A. Ciccone. “International Commodity Prices,Growth, and Civil War in Sub-Saharan Africa.” The Economic Eeckhout, J. and K. Munshi. “Matching in informal financialJournal, 120, 519–534, 2010. institutions.” Journal of the European Economic Association, 8(5), 947–988, 2010.Calsamiglia, C.; G. Haeringer, and F. Klijn. “ConstrainedSchool Choice: An Experimental Study (instructions).” American Ellman, M. and P. Pezanis-Christou. “Organizational structure,Economic Review, 100, 1860–1874, 2010. communication and group ethics.” American Economic Review, 100(5), 2478–2491, 2010.Caminal, R. “Markets and Linguistic Diversity.”Journal of Economic Behavior and Organization, 76, 774–790, Fack, G. and J. Grenet. “When do better schools raise housing2010. Premi Catalunya d’Economia 2009. prices? Evidence from Paris public and private schools.” Journal of Public Economics, 94(1-2), 59–77, 2010.Canova, F. and L. Gambetti. “Do expectations matter?The great moderation revisited.” American Economic Journal: Fack, G. and C. Landais. “Are tax incentives for charitable givingMacroeconomics, 2(3),183–205, 2010. efficient? Evidence from France.” American Economic Journal: Economic Policy, 2(2), 117–141, 2010.Canova, F.; D. López-Salido, and C. Michelacci. “The effectsof technology shocks on hours and output: A robustness Ferrer, R. “Breaking the law when others do: A model ofanalysis.” Journal of Applied Econometrics, 25(5), 755–773, 2010. law enforcement with neighborhood externalities.” European Economic Review, 54(2), 163–180, 2010.Casas, P “Dismissals and quits in repeated games.” .Economic Theory, 43(1), 67–80, 2010. Forni, M. and L. Gambetti. “The Dynamic Effects of Monetary Policy: A Structural Factor Model Approach.” Journal of MonetaryCasas, P and A. Saiz. “Owning versus renting: Do courts . Economics, 57(2), 203–213, 2010.matter?” Journal of Law and Economics, 53(1), 137–165, 2010. Funk, P. “Social incentives and voter turnout: Evidence fromCervellati, M.; J.M. Esteban, and L. Kranich. “Work Values, the Swiss mail ballot system.” Journal of the European EconomicEndogenous Sentiments and Redistribution.” Journal of Public Association, 8(5), 1077–1103, 2010.Economics, 94, 212–227, 2010. Ganuza, J. and J. Penalva. “Signal orderings based on dispersionCiccone, A. and M. Jarocinski. “Determinants of economic and the supply of private information in auctions.” Econometrica,growth: Will data tell?” American Economic Journal: 79(3), 1007–1030, 2010.Macroeconomics, 2(4), 222–246, 2010. Garcia-Milà, T.; A. Marcet, and E. Ventura. “Supply sideCrinò, R. “Service Offshoring and White-Collar Employment.” interventions and redistribution.” Economic Journal, 120(543),The Review of Economic Studies, 77(2), 595–632, 2010. 105–130, 2010.68

RESEARCHGennaioli, N. and S. Rossi. “Judicial discretion Mattozzi, A. “Policy Uncertainty, Electoral Securitiesin corporate bankruptcy.” Review of Financial Studies, and Redistribution.” International Economic Review, 51,23(11), 4078–4114, 2010. 45–71, 2010.Gennaioli, N. and A. Shleifer. “What comes to mind.” Ortega, F. “Immigration Policy and Skill Upgrading.”Quarterly Journal of Economics, 125(4), 1399–1433, 2010. Journal of Public Economics, 89, 1841–1863, 2010.Glaeser, E.L.; W.R. Kerr, and G. Ponzetto. “Clusters Prat, J. “The Rate of Learning-by-doing: Estimates fromof entrepreneurship.” Journal of Urban Economics, 67(1), a Search-matching Model.” Journal of Applied Econometrics,150–168, 2010. 25(6), 929–962, 2010.Greenwood, J. and N. Guner. “Social Change: The Sexual Renou, L. and K. Schlag. “Minimax regret andRevolution.” International Economic Review, 51(4), 893–923, strategic uncertainty.” Journal of Economic Theory, 145(1),2010. 264–286, 2010.Hart, S. and A. Mas-Colell. “Bargaining and cooperation Rodríguez-Planas, N. “Channels through which Publicin strategic form games.” Journal of the European Economic Employment Services and Small-Business AssistanceAssociation, 8(1), 7–33, 2010. Programs Work.” Oxford Bulletin of Economics and Statistics, 72(4), 458–485, 2010.Karelaia, N. and R. Hogarth. “The attraction of uncertainty:Interactions between skill and levels of uncertainty in market-entrygames.” Journal of Risk and Uncertainty, 41(2), 141–166, 2010.Klaus, B. and F. Klijn. “Smith and Rawls Share a Room: Stabilityand Medians.” Social Choice and Welfare, 35(4), 647–667, 2010.Klaus, B.; F. Klijn, and M. Walzl. “Farsighted House Allocation.”Journal of Mathematical Economics, 46, 817–824, 2010.Klaus, B.; F. Klijn, and M. Walzl. “Stochastic Stability forRoommate Markets.” Journal of Economic Theory, 145,2218–2240, 2010.Llavador, H.; J.E. Roemer, and J. Silvestre.“Intergenerational justice when future worlds are uncertain.”Journal of Mathematical Economics, 46(5), 728–761, 2010.Loureiro, M; A. Sanz-de-Galdeano, and V. Daniela. “SmokingHabits: Like Father, Like Son, Like Mother, Like Daughter?” OxfordBulletin of Economics and Statistics, 72(6), 717–746, 2010.Macho-Stadler, I.; D. Pérez-Castrillo, and D. Wettstein.“Dividends and Weighted Values in Games with Externalities.”International Journal of Game Theory, 39, 177–184, 2010.Martínez, R.; J. Massó, A. Neme, and J. Oviedo.“The Blocking Lemma for a Many-to-one Matching Model.”Journal of Mathematical Economics, 46, 937–949, 2010.Mas-Colell, A. “Generic finiteness of equilibriumin bimatrix games.” Journal of Mathematical Economics,46(4), 382–383, 2010. 69

Calvó-Armengol InternationalPrize in Economics The Calvó-Armengol Prize honors the memory of GSE Affiliated Professor and ICREA-UAB Professor Antoni Calvó- Armengol, a beloved member of the GSE community and highly esteemed researcher from Andorra who passed away unexpectedly in November 2007 at the age of 37. The prize endeavours to become one of the most prestigious prizes recognizing young economists and social scientists. It is awarded every two years to a top researcher inProf. Antoni economics or social sciences younger than 40 years oldCalvó-Armengol, for his or her contribution to the theory and comprehensionin whose memory the Prize of the mechanisms of social interaction.was established The first prizewinner (2009) was Prof. Esther Duflo (MIT). The second recipient was selected in July 2011. He is Prof. Roland Fryer (Harvard University). The youngest African-American to receive tenure from Harvard and one of Time Magazine’s 100 Most Influential People of 2009, Prof. Fryer is an energetic and entrepreneurial researcher who analyzes race and inequality using a diverse set of theoretical, empirical, and experimental tools to shed new light on the role of race in social interactions.Prof. Roland Fryer(Harvard University)70

RESEARCH “I share Toni’s sense of whatThe Prize includes: economics can (and should)· Cash award of 30,000 € do for society.”· Scientific direction of a fully-funded Prof. Esther Duflo (MIT) three-day workshop First winner of the Calvó-Armengol Prize· “Calvó-Armengol Lecture” in Barcelona Promoters of the Calvó PrizeNominations and Selection CommitteProf. Matthew Jackson(Stanford University)Selection Committee Chair and appointedrepresentative of the GSE Scientific CouncilProf. Salvador Barberà(UAB and Barcelona GSE)Prof. Joel Sobel(UC San Diego)Prize secretary:Prof. Guillaume Haeringer(UAB and Barcelona GSE) 71

Barcelona GSE Research EndowmentIn order to achieve its long-term goals and to secure strength, stabilityand sustainable independence, in 2007 the Barcelona GSE Board made Total contributions through August 2011the decision to create an endowment fund intended to be supported byindividuals, corporations, foundations and public institutions. The endowent’srevenues are dedicated exclusively to supporting the joint appointment ofBarcelona GSE Research Professors with its four academic bodies. 13MEndowment Growth Private Contributors2008 The first contribution is granted in the 2008 General Budget3M € Act adopted by the Spanish Congress and instrumented through an agreement signed with the Spanish Ministry of Science and Innovation. Public Contributors2009 The 2009 General Budget Act adopted by the Spanish5.5M € Congress includes for the second time an item to increase the Barcelona GSE Research Endowment, and a new agreement with the Spanish Ministry of Science and Innovation is signed.1.25M € The Barcelona GSE is one of the few European institutions to receive major support from the competitive and highly selective AXA Research Fund. This is the first private contribution to the Barcelona GSE Research Endowment.2010 Following the public support to the Barcelona GSE RESEARCH FELLOW endowment strategy, the 2010 General Budget Act adopted2M € by the Spanish Congress includes a new item to make the CONTRIBUTORS: research endowment of the GSE grow. Prof. Antoni Bosch (UPF and Barcelona GSE)2011 For the fourth time, the General Budget Act adopted by the Spanish Congress includes an item to increase the Barcelona1.25M GSE Research Endowment. In addition, the School’s board Prof. José García-Montalvo (UPF) of trustees reports revenues from interest earned on the Prof. Andreu Mas-Colell Endowment’s principal funds. (UPF and Barcelona GSE)72

RESEARCHBarcelona GSE Research ProfessorsAlphabetical listing of Barcelona GSE Research Professors:Salvador Barberà Antonio CicconePhD, Northwestern University PhD, Stanford UniversityUAB and Barcelona GSE ICREA-UPF and Barcelona GSESalvador Barberà is Professor of Economics at the Universitat Antonio Ciccone is ICREA Professor at Universitat PompeuAut˜noma de Barcelona. He is a fellow of the Econometric Fabra, which he first joined in 1994. He is a researchSociety, a recipient of the Rey Juan Carlos Award in associate of CREI and Fellow of the Center for EconomicEconomics and the Pascual Madoz Research Prize, as well Policy Research (CEPR) and CESifo. He is currently co-editoras a Doctorate Honoris Causa of the Universidad Pablo de of and has been a member of the editorial boards of severalOlavide. He is also director of MOVE (Markets, Organizations other international journals. He also chaired the Scientificand Votes in Economics) at UAB. He has served on the Programme Committee of the 24th Congress of the Europeanboards of Econometrica, Games and Economic Behavior, Economic Association. He has taught at UC Berkeley,Mathematical Social Sciences, and The Journal of Public Stanford University, London Business School and the LondonEconomic Theory. School of Economics. Prof. Ciccone directs the Fundació Caixa Manresa Chair on Applied Economics. 73

Joan-Maria Esteban Jordi GalíPhD, Oxford University PhD, MITIAE and Barcelona GSE CREI-UPF and Barcelona GSEJoan-Maria Esteban has been member of the Institute for Jordi Galí is the Director of the Center for Research inEconomic Analysis (IAE) since its beginning in 1985. He was International Economics (CREI) and Professor at Universitatdirector of the IAE from 1989 to 1991 and from 2001 to 2006. Pompeu Fabra. He holds research positions at the CenterHe coordinated the EU funded research project “Polarization for Economic Policy Research (CEPR) and the US Nationaland Conflict” from 2004-2008 and now holds an AXA Bureau of Economic Research (NBER). He is also a FellowResearch Fund grant. In 2007, he received the Rei Jaume of the Econometric Society. He is currently Vice President ofPrize in Economics. His experience includes membership the European Economic Association (EEA) and will becomeon the Research Council of the European University Institute President in 2012. Prior to joining the Barcelona economicsand the European Commission’s expert group on Economic, community, he held academic positions at New YorkSocial and Human Sciences. Prof. Esteban is a past president University and Columbia University. He has also been rankedof the Spanish Economic Association and currently serves as as the 8th most cited researcher worldwide in Economics andSecretary General of the International Economic Association Business (Thomson Scientific’s Essential Science Indicators(2011-2017). SM, data from January 1997-October 2007).74

RESEARCHNezih Guner Massimo MottaPhD, University of Rochester PhD, LSE and Université Catholique de LouvainICREA-UAB and Barcelona GSE ICREA-UPF and Barcelona GSENezih Guner is ICREA Research Professor at MOVE Massimo Motta is ICREA Research Professor at Universitat(Markets, Organizations and Votes in Economics) and Pompeu Fabra and Dean of the Barcelona GSE. He is aAdjunct Professor at Universitat Autònoma de Barcelona. Fellow of the European Economic Association, ResearchHe is a Research Affiliate of the Center for Economic Policy Fellow of the Centre for Economic Policy Research (CEPR)Research (CEPR) and a Research Fellow of the Institute and CESifo, as well as member of the Executive Committeefor Study of Labor (IZA). Before joining the Barcelona of the Association of Competition Economists, of theeconomics community, he held academic positions at Economic Advisory Group on Competition Policy at theQueen’s University (Canada), Pennsylvania State University, European Commission, and of the Expert Academic Paneland Universidad Carlos III de Madrid. He is a co-editor of Ofcom, London. He was Head of the Economicsof Economic Inquiry and Associate Editor of Journal of Department of the European University Institute. His bookPopulation Economics and SERIEs (Journal of the Spanish Competition Policy: Theory and Practice (CambridgeEconomic Association). University Press, 2004) is the standard international reference on the economics of antitrust. 75

Research PartnershipsCENTER FOR RESEARCH ON THE ECONOMIES FUNDACIÓ CAIXA MANRESA CHAIR ON APPLIEDOF THE MEDITERRANEAN (CREMed) ECONOMICS AT THE BARCELONA GSEThe Barcelona GSE has partnered with the European The Fundació Caixa Manresa Chair on Applied Economics isInstitute of the Mediterranean (IEMed) to create the Center for intended to promote world-class research and disseminationResearch on the Economies of the Mediterranean (CREMed). in Applied Economics and to attract internationalThe objective of CREMed is to promote high quality researchers. The Chair is directed by Prof. Antonio Cicconeeconomic research with a special focus on the Mediterranean (ICREA-UPF and Barcelona GSE).region, and in particular the economic relationships betweenthe European Union and Mediterranean countries. Prof. José The chair was created in an agreement with Caixa Manresa,García Montalvo (UPF) is the Scientific Director of CREMed, which later became a founding partner of Catalunya Caixa.and Prof. Eva Ventura (UPF and Barcelona GSE) is theExecutive Director. CREMed ACTIVITIES 2010-11 October 2010 CEPR Development Economics Workshop Organized jointly with UPF June 2011 Cohosted the 10th International Conference of the Middle East Economic Association (MEEA) June 2011 Workshop on “Economics of the Mediterranean and the Euromediterranean Process.” Organized jointly with the European Institute (LSE)76

RESEARCHCREI-Caixa Manresa Conference on “The Political Economy of Economic Development,” heldat Sant Benet Monastery and co-organized by Prof. Ciccone as part of the Chair’s activities. 77

HIGHLIGHTS

HIGHLIGHTSFALL 2010Barcelona GSE “Trobada” VIIIGSE affiliated professors gather at the annual Trobadato meet the new faculty and discuss their research.A roundtable panel on the Spanish labor market was alsoorganized. Panel (from left): Professors Julien Prat (IAEand GSE), Nezih Guner (ICREA-UAB and GSE),Juan J. Dolado (Universidad Carlos III), Thijs van Rens(CREI-UPF and GSE), and Sergi Jiménez-Martín(UPF and GSE). Alan Krueger delivers inaugural lecture At the GSE Opening Ceremony in Fall 2010, Prof. Alan Krueger (Princeton University) spoke on “Economic Policy Making: Lessons from Recent U.S. Experience,” drawing from his recent experiences as Assistant Secretary for Economic Policy and Chief Economist at the United States Treasury Department. In 2011, Prof. Krueger was nominated Chair of the White House Council of Economic Advisors by President Barack Obama.80

HIGHLIGHTS Economic policymakers preside over Opening Ceremony 2010-11 Barcelona GSE Chairman Andreu Mas-Colell; former Assistant Secretary for Economic Policy and Chief Economist at the United States Treasury Department, Prof. Alan Krueger (Princeton University); Secretary of Economy of the Spanish Government, Prof. José Manuel Campa; Vice President of the European Commission, Mr. Joaquín Almunia; Catalan Minister of Economy and Finance, Prof. Antoni Castells; and Honorary President of “la Caixa,” Mr. Ricard Fornesa.Barcelona GSE Class of 2011The traditional picture with the new class, taken at CaixaForum where the Opening Ceremony was held. 81

WINTER 2010 AND SPRING 2011Ramon Marimon becomes new GSE Chairman GPEFM doctoral graduate named one of sevenThe GSE Board of Trustees elects Prof. Ramon Marimon (EUI, “star performers” in 2011 job marketUPF and GSE) to take over the position previously held by the The Review of Economic Studies recognizes Peter KoudijsSchool’s founder, Prof. Andreu Mas-Colell (UPF and GSE), (Economics ‘06 and GPEFM ‘11) as one of the world’s mostwho steps down in order to focus on his responsibilities as the promising young economists in this year’s job market.newly appointed Minister of Economy and Knowledge in the The GPEFM at UPF is one of the Barcelona GSE’s referenceCatalan government. PhD programs.Intensive Course on Competition Economics:Abuse of DominanceThe first edition of this four-day continuing education coursedrew 56 competition experts from 19 jurisdictions. Demand forplaces was so high that the course “sold out” weeks beforesessions began, leaving a number of applicants on the waitlist.82

HIGHLIGHTSInstitute for Economic Analysis (IAE) celebrates 25thanniversaryThe creation of this founding academic body of theBarcelona GSE in the late 1980s was a turning pointfor making Barcelona one of the few hubs of world-classeconomic research and teaching.Barcelona GSE ranked among top15 economic research centers in the worldResearch Papers in Economics (RePEc) ranks the BarcelonaGSE 15th among Economic Research Institutions and 10thamong Economics Departments worldwide, 3rd in Europe and1st in Spain. (Rankings as of June 2011) 83

SPRING AND SUMMER 2011 IDEA doctoral program celebrates 20 years The UAB’s Department of Economics and Economic History organizes a conference in honor of its International Doctorate in Econo- mic Analysis (IDEA) at the Bellaterra campus. IDEA is one of the Barcelona GSE’s reference PhD programs.Javier de Agustín addressesmaster program graduatesPresiding at Graduation 2011 (from left):Prof. Joan Gómez Pallarès, vice-rector of theUniversitat Autònoma de Barcelona (UAB);Dean of the Barcelona GSE, Prof. MassimoMotta (ICREA-UPF and GSE); Mr. Javierde Agustín, CEO of AXA Seguros España;and Prof. Teresa Garcia-Milà, vice-rectorof the Universitat Pompeu Fabra (UPF)and Barcelona GSE Affiliated Professor.84

HIGHLIGHTS5th edition of GSE Summer Schools Global Health Leadership Forum 2011The fifth edition of the Barcelona GSE Summer Schools drew Senior health executives from 15 countries participate in the257 participants from 41 countries. Course tracks include eighth Barcelona session of the GHLF.Labor Economics, Banking, and Microeconometrics. A tribute to the lifetime achievements of Prof. Salvador Barberà More than 80 academics from around the globe gather at the UAB for “Votes and Incentives: The Design of Institutions,” a conference organized by the UAB’s Department of Econo- mics and sponsored by BBVA Foundation on the occasion of the 65th birthday of Prof. Salvador Barberà (UAB and Barcelona GSE). Prof. Barberà was the first vice chairman of the Barcelona GSE and was appointed GSE Research Professor in 2009. 85

Barcelona GSE Class of 2011Competition and Market RegulationEconomics86

HIGHLIGHTSEconomics of Science and InnovationFinance 87

International Trade, Finance and DevelopmentMacroeconomic Policy and Financial Markets88

HIGHLIGHTSGraduation Ceremony 89

EXTERNALRELATIONS& FINANCIAL DATA

EXTERNAL RELATIONS& FINANCIAL DATAMaster Program ScholarshipsThe support of prestigious companies and institutionsenables the Barcelona GSE to offer tuition wavers tooutstanding students applying to any of its master programs.Thanks to these sponsorship agreements, students frommore than 25 countries received either full- or partial-tuitionscholarship awards for the 2010-11 academic year. A totalof 41 students across all of the master programsreceived some type of scholarship funding this year.These partnerships affirm the sponsors’ belief in the highquality of the Barcelona GSE and their vested interest inbringing top students to study in the master programs aspart of their corporate social responsibility actions.92

EXTERNAL RELATIONS & FINANCIAL DATAScholarship Sponsors 2010 -11 93

Communications As higher education becomes increasingly competitive, the Barcelona GSE’s communications efforts take a central role in recruitment and marketing in an international base. Key components of the 2010-11 marketing and communications strategy of the School included: Website Development www.barcelonagse.eu Total Visits: 443,992 (20% more than 2009-10) Total Pageviews: 1,393,310 (26% more than 2009-10) The website encompasses news and events from the School’s founding academic bodies, the latest research of its faculty including publication lists and research videos, and information for prospective students about the Barcelona GSE programs. This year’s web development projects included improvements to site navigation menus and increased visibility of research activities on the home page. Admissions Blog blogs.barcelonagse.eu/admissions The Admissions Office uses this blog to communicate timely announcements and answer frequently-asked questions. Many of the posts are generated in response to emails,Home page of the Barcelona GSE website Facebook messages, and phone calls from prospective students themselves. Social Media Social media provides new opportunities for interaction among members of the GSE community and increases the accessibility of the institution to prospective students and other external parties. The Barcelona GSE has a presence on LinkedIn, Facebook, YouTube, Flickr, Slideshare, and Twitter.94

EXTERNAL RELATIONS & FINANCIAL DATARecruiting EventsRepresentatives from the Barcelona GSE regularly attendGraduate School Fairs in Europe and North America to MASTER PROGRAMSpromote our school among potential candidates. The 2011-2012Admissions Office also welcomes prospective students atperiodic campus events as well as scheduled appointmentsand walk-in visits. In addition, the school organizes an OpenDay on the Barcelona GSE campus that gives prospectivestudents in the Barcelona area a chance to meet withprogram directors and admissions staff.Dissemination of MaterialsThe GSE strives to be a focal point of the economicscommunity in Barcelona and a reference of interest abroad.The school compiles a comprehensive list of weeklyeconomics events, has a trimestral newsletter, and doesfrequent mailings and emailings of its brochures to targetedgroups of prospective students and collaborators.Print and Online MarketingAdvertisements were run in international press such as Promotional brochure for GSE master programsThe Economist and Financial Times for branding andrecruiting purposes, as well as to promote our programs forplacement purposes among the target audiences of thesetwo magazines, which include economic consulting firms,central banks, investment banks, government servicesand competition commissions. Online marketing strategiesincluded banners and links placed on websites related tomaster program study areas and Google ad campaigns toreinforce the School’s presence in this internet search engine. 95

Financial Data 2010 -11 INCOME SOURCES Total Income: 3.754 million euros 1.400.000 € 1.200.000 € 1.000.000 € 800.000 € 600.000 € 400.000 € 200.000 € Fees: Program Fees: Professional Research Board Consolider Other Master Sponsors Professional Programs of Trustees Programs Programs Sponsors 78% INCOME SOURCES Income from public institutions: 22% 22% Income from private institutions and student fees: 78%96

EXTERNAL RELATIONS & FINANCIAL DATA EXPENSES Total Expenses: 3.520 million euros1.400.000 €1.200.000 €1.000.000 € 800.000 € 600.000 € 400.000 € 200.000 € University Faculty Fully Funded Other Communication Research Personnel Running Amortization Fees Scholarships Program Expenses Expenses 97

APPENDICES

APPENDICESFull List of Affiliated Professors (2010 -11)Including programs in which they have taught. Aloui, Larbi (UPF) Banal Estañol, Albert (UPF) PhD, University PhD, Universitat Autònoma of Pennsylvania de Barcelona Programs: ECON, GPEFM Programs: FIN, MCMR, GPEFM Apesteguia, Jose (ICREA-UPF) Barberà, Salvador (UAB) PhD, Universidad Pública PhD, Northwestern University de Navarra Scientific Director, MESI Programs: ECON, GPEFM Programs: MESI, IDEA Aragonès, Enriqueta (IAE) Bashshur, Michael (UPF) PhD, Northwestern University PhD, University of Illinois, Program: IDEA Urbana-Champaign Program: GPEFM Arruñada, Benito (UPF) PhD, Universidad de Oviedo Baucells, Manel (UPF) Programs: ECON, GPEFM PhD, University of California-Los Angeles Azmat, Ghazala (UPF) Program: GPEFM PhD, London SchoolPrograms Legend: of Economics Beviá, Carmen (UAB)Master Programs Programs: ECON, ITFD, PhD, Universitat d’AlacantECON Economics GPEFM Program: IDEAFIN FinanceITFD International Trade Finance, and Development Balcells, Laia (IAE) Bonfiglioli, Alessandra (IAE)MCMR Competition and Market Regulation PhD, Yale University PhD, Stockholm UniversityMESI Economics of Science and Innovation Programs: ITFD, IDEAMPFM Macroeconomic Policy and Financial Markets Ballester, Miguel-Ángel (UAB) Bosch-Domènech, AntoniReference Doctoral Programs PhD, Universidad Pública (UPF)GPEFM Graduate Program in Economics, Finance and Management (UPF) de Navarra PhD, University of MinnesotaIDEA International Doctorate in Economic Analysis (UAB) Program: IDEA Programs: ECON, GPEFM100

APPENDICESBrandts, Jordi (IAE) Calsamiglia, Caterina (UAB) Carreras, Albert (UPF) Cornelissen, Gert (UPF)PhD, University PhD, Yale University PhD, Universitat Autònoma PhD, Catholicof Pennsylvania Programs: MPFM, IDEA de Barcelona University LeuvenProgram: IDEA Program: GPEFM Program: GPEFM Calsamiglia, Xavier (UPF)Broner, Fernando (CREI) PhD, University of Minnesota Carvalho, Vasco (CREI) Creel, Michael (UAB)PhD, Massachusetts Institute Program: GPEFM PhD, University of Chicago PhD, Universityof Technology (MIT) Programs: ECON, FIN, GPEFM of California-DavisPrograms: ECON, ITFD, Caminal, Ramon (IAE) Program: IDEAGPEFM PhD, Harvard University Casas-Arce, Pablo (UPF) Program: IDEA PhD, Harvard University Crinò, Rosario (IAE)Burguet, Roberto (IAE) Program: GPEFM PhD, Università degliPhD, State University Camps, Enriqueta (UPF) Studi di Milanoof New York at Stony Brook PhD, European University Choi, Sekyu (UAB) Program: IDEAProgram: IDEA Institute PhD, University Program: GPEFM of Pennsylvania Cuadras Morató, XavierBustos, Paula (CREI) Programs: MPFM, IDEA (UPF)PhD, Harvard University Canova, Fabio PhD, University of YorkPrograms: ECON, ITFD, (ICREA-UPF, CREI) Ciccone, Antonio Program: GPEFMGPEFM PhD, University (ICREA-UPF) of Minnesota PhD, Stanford University Dagnelie, Olivier (IAE)Caballé, Jordi (UAB) Program: GPEFM Director, ECON PhD, University of NamurPhD, University Programs: ECON, ITFD, Program: IDEAof Pennsylvania Cantoni, Davide (UPF) GPEFMPrograms: MPFM, IDEA PhD, Harvard University de la Fuente, Angel (IAE) Programs: ECON, GPEFM Colomer, Josep M. (IAE) PhD, UniversityCaggese, Andrea (UPF) PhD, Universitat of PennsylvaniaPhD, London School Cardoso, Ana Rute (IAE) de Barcelona Program: IDEAof Economics PhD, European University Program: GPEFMPrograms: ECON, FIN, Institute de Martí, Joan (UPF)GPEFM Program: IDEA Conesa, Juan-Carlos (UAB) PhD, Universitat Autònoma PhD, University of Minnesota de Barcelona Programs: MPFM, IDEA Program: GPEFM 101

Eeckhout, Jan Fernández-Huertas, Galí, Jordi (CREI) Garcia-Villar, Jaume (UPF)(ICREA-UPF) Jesús (IAE) PhD, Massachusetts Institute PhD, London SchoolPhD, London School PhD, Columbia University of Technology (MIT) of Economicsof Economics Program: IDEA Programs: ECON, MPFM, Programs: ECON, GPEFMProgram: GPEFM GPEFM Ferrer, Rosa (UPF) Gennaioli, Nicola (CREI)Ellman, Matthew (IAE) PhD, Vanderbilt University Gambetti, Luca (UAB) PhD, Harvard UniversityPhD, Harvard University Program: GPEFM PhD, Universitat Programs: ECON, ITFD, Pompeu Fabra GPEFMEsteban, Joan-Maria (IAE) Ferrer-i-Carbonell, Ada Programs: MPFM, IDEAPhD, Oxford University (ICREA-IAE) Germano, Fabrizio (UPF)Program: IDEA PhD, University Gancia, Gino (CREI) PhD, University of Amsterdam PhD, Stockholm University of California-San DiegoEsteban, Susanna (UAB) Program: IDEA Programs: ECON, ITFD, Programs: ECON, GPEFMPhD, University of Rochester GPEFMPrograms: MCMR, IDEA Fons-Rosen, Christian Gierlinger, Johannes (UAB) (UPF) Ganuza, Juan-José (UPF) PhD, Toulouse SchoolFack, Gabrielle (UPF) PhD, London School PhD, Universidad of EconomicsPhD, Ecole des Hautes of Economics Carlos III de Madrid Programs: MPFM, IDEAEtudes en Sciences Sociales Program: GPEFM Director, MCMRPrograms: ECON, GPEFM Programs: ECON, MCMR, Gil-Bazo, Javier (UPF) Fradera, Isabel (UAB) GPEFM PhD, Universidad delFarell, Montse (UAB) PhD, Northwestern País VascoPhD, University University García-Fontes, Walter (UPF) Director, FINof California-Davis Program: IDEA PhD, Stanford University Programs: FIN, ITFD, GPEFMProgram: IDEA Programs: MESI, GPEFM Freixas, Xavier (UPF) Glitz, Albrecht (UPF)Farré, Lídia (IAE) PhD, Université de Toulouse Garcia-Milà, Teresa (UPF) PhD, UniversityPhD, European Scientific Director, FIN PhD, University College LondonUniversity Institute Programs: FIN, GPEFM of Minnesota Programs: ECON, GPEFMProgram: IDEA Program: GPEFM Funk, Patricia (UPF) Gnocchi, Stefano (UAB)Fasani, Francesco (IAE) PhD, University of Basel PhD, UniversitatPhD, University College Program: GPEFM Pompeu FabraLondon Programs: MPFM, IDEA102

APPENDICESGómez Biscarri, Javier (UPF) Haeringer, Guillaume Iriberri, Nagore (UPF) Litschig, Stephan (UPF)PhD, University (UAB) PhD, University PhD, Columbia Universityof California-Los Angeles PhD, Université Louis Pasteur of California-San Diego Programs: ECON, GPEFMPrograms: MCMR, GPEFM Program: IDEA Program: GPEFM Llavador, Humberto (UPF)González, Libertad (UPF) Hansen, Stephen (UPF) Jiménez-Martín, Sergi (UPF) PhD, UniversityPhD, Northwestern PhD, London School PhD, Universitat of California-DavisUniversity of Economics Pompeu Fabra Programs: ECON, GPEFMPrograms: ECON, ITFD, Programs: ECON, GPEFM Program: GPEFMGPEFM López-Casasnovas, Hauk, Esther (IAE) Klijn, Flip (IAE) Guillem (UPF)Grasas, Alex (UPF) PhD, European University PhD, Tilburg University PhD, University of YorkPhD, University of Florida Institute Program: IDEA Program: GPEFMProgram: GPEFM Hervás-Drane, Andrés (UPF) Ladrón de Guevara, Lugosi, GáborGreenacre, Michael (UPF) PhD, Universitat Autònoma Antonio (UPF) (ICREA-UPF)PhD, Université Pierre de Barcelona PhD, Universidad Carlos III PhD, Hungarian Academyet Marie Curie Program: GPEFM de Madrid of SciencesProgram: GPEFM Program: GPEFM Programs: ECON, GPEFM Hogarth, RobinGüell, Maia (UPF) (ICREA-UPF) Le Menestrel, Marc (UPF) Macho-Stadler, Inés (UAB)PhD, London School PhD, University of Chicago PhD, INSEAD PhD, Ecole des Hautesof Economics Director, GPEFM Program: GPEFM Etudes en Sciences SocialesProgram: GPEFM Programs: ECON, GPEFM Programs: MCMR, MESI, IDEA Le Mens, Gäel (UPF)Guirao, Fernando (UPF) Hurkens, Sjaak (IAE) PhD, Stanford Graduate Marcet, Albert (IAE)PhD, European University PhD, Tilburg University School of Business PhD, UniversityInstitute Program: IDEA Program: GPEFM of MinnesotaProgram: GPEFM Scientific Director, MPFM Iorio, Daniela (UAB) Licandro, Omar (IAE) Programs: MPFM, IDEAGuner, Nezih (ICREA-UAB) PhD, University PhD, UniversitéPhD, University of Pennsylvania Catholique de Louvainof Rochester Programs: MPFM, IDEA Research Director,Programs: MPFM, IDEA Barcelona GSE Programs: ITFD, IDEA 103

Marimon, Ramon Matthes, Christian (UPF) Nimark, Kristoffer (CREI) Pappa, Evi (UAB)(UPF-IUE) PhD, New York University PhD, European PhD, UniversitatPhD, Northwestern University Programs: ECON, GPEFM University Institute Pompeu FabraChairman, Barcelona GSE Programs: ECON, GPEFM Director: IDEAProgram: GPEFM Mattozzi, Andrea (UAB) Programs: MPFM, IDEA PhD, University of Obiols, Francesc (UAB)Martín, Alberto (CREI) Pennsylvania PhD, Universitat Pascali, Luigi (UPF)PhD, Columbia University Program: IDEA Pompeu Fabra PhD, Boston CollegePrograms: ECON, FIN, ITFD, Director, MPFM Programs: ECON, ITFD,GPEFM Mayoral, Laura (IAE) Programs: MPFM, IDEA GPEFM PhD, Universidad Carlos IIIMartínez Giralt, Xavier (UAB) de Madrid Olivella, Pau (UAB) Peñaranda, Francisco (UPF)PhD, Université Programs: MPFM, IDEA PhD, Northwestern PhD, UniversidadCatholique de Louvain University ComplutenseProgram: IDEA Miralles, Antonio (UAB) Programs: MCMR, IDEA de Madrid-CEMFI PhD, Boston University Programs: FIN, GPEFMMartínez-Legaz, Program: IDEA Ortega, Francesc (UPF)Juan-Enrique (UAB) PhD, New York University Pérez Orive, Ander (UPF)PhD, Universitat Motta, Massimo Programs: ITFD, GPEFM PhD, London Schoolde Barcelona (ICREA-UPF) of EconomicsProgram: IDEA PhD, London School of Ortún, Vicente (UPF) Programs: ECON, FIN, Economics and Université PhD, Universitat GPEFMMas-Colell, Andreu (UPF) Catholique de Louvain de BarcelonaPhD, University Dean, Barcelona GSE Program: GPEFM Pérez-Castrillo, David (UAB)of Minnesota Programs: MCMR, GPEFM PhD, Ecole des HautesFounder, Barcelona GSE Panadés, Judith (UAB) Etudes en Sciences SocialesProgram: GPEFM Mueller, Hannes (IAE) PhD, Universitat Autònoma Director, MESI PhD, London School de Barcelona Programs: MESI, IDEAMassó, Jordi (UAB) of Economics Program: IDEAPhD, State University Program: IDEA Perrone, Helena (UPF)of New York at Stony Brook Papaspiliopoulos, Omiros PhD, Toulouse SchoolProgram: IDEA Nagel, Rosemarie (UPF) of Economics (ICREA-UPF) PhD, Lancaster University Program: GPEFM PhD, University of Bonn Programs: FIN, GPEFM Programs: ECON, GPEFM104

APPENDICESPonsatí, Clara (IAE) Reynal-Querol, Marta Sanz-de-Galdeano, Torres, Anna (UPF)PhD, University (ICREA-UPF) Ana (UAB) PhD, Universitatof Minnesota PhD, London School PhD, European Pompeu FabraProgram: IDEA of Economics University Institute Program: GPEFM Program: GPEFM Program: IDEAPonzetto, Giacomo (CREI) Trento, Stefano (UAB)PhD, Harvard University Rodríguez Mendizabal, Satorra, Albert (UPF) PhD, Universidad Carlos IIIPrograms: ECON, GPEFM Hugo (UAB) PhD, Universitat Program: MESI, IDEA PhD, University of Chicago de BarcelonaPrat, Julien (IAE) Director, IDEA Programs: ECON, GPEFM Udina, Frederic (UPF)PhD, European Program: IDEA PhD, Universitat PolitècnicaUniversity Institute Schmidheiny, Kurt (UPF) de CatalunyaProgram: IDEA Rodríguez-Planas, PhD, Universität Bern Program: GPEFM Núria (UAB) Programs: ECON, FIN, ITFD,Puig-Junoy, Jaume (UPF) PhD, Boston University GPEFM van Rens, Thijs (CREI)PhD, Universitat Autònoma Program: IDEA PhD, Princeton Universityde Barcelona Segal, Carmit (UPF) Programs: ECON, GPEFMProgram: GPEFM Rondina, Francesca (IAE) PhD, Stanford University PhD, University of Wisconsin Program: GPEFM Ventura, Jaume (CREI)Ramalhinho, Helena (UPF) Program: IDEA PhD, Harvard UniversityPhD, Cornell University Serra, Daniel (UPF) Programs: ECON, ITFD,Program: GPEFM Rupérez-Micola, PhD, Johns Hopkins GPEFM Augusto (UPF) UniversityRaymond-Bara, PhD, London Program: GPEFM Ventura, Eva (UPF)Josep-Lluís (UAB) Business School PhD, UniversityPhD, Universitat Programs: MCMR, GPEFM Soto, Marcelo (IAE) of Minnesotade Barcelona PhD, DELTA Program: GPEFMProgram: IDEA Sancho, Ferran (UAB) Program: IDEA PhD, Universitat Autònoma Voth, Hans-JoachimRey Biel, Pedro (UAB) de Barcelona Talluri, Kalyan (ICREA-UPF, CREI)PhD, University Program: IDEA (ICREA-UPF) PhD, Oxford UniversityCollege London PhD, Massachusetts Institute Director, ITFDPrograms: MESI, IDEA of Technology (MIT) Programs: ITFD, GPEFM Program: GPEFM 105

Full List of Guest Professors (2010 -11)Abhyankar, Abhay Bel, Germà Coderch, Marcel Durville, GuillaumeUniversity of Edinburgh Universitat de Barcelona Comisión del Mercado Hewlett-PackardBusiness School PhD, Universitat de las Telecomunicaciones MSc, Trinity College DublinPhD, University of Strathclyde de Barcelona PhD, Massachussets Program: MESIProgram: FIN Program: MCMR Institute of Technology Program: MESI Esteva-Mosso, CarlesAlejaldre, Carlos Bigorra, Joan Merger Policy Unit,International Thermonuclear Hospital Clínic Comella, Joan European CommissionExperimental Reactor MD, Universitat Autònoma Universitat Autònoma LLM, Université LibrePhD, Polytechnic Institute de Barcelona de Barcelona / Fundació de Bruxellesof New York Program: MESI Catalana per la Recerca Program: MCMRProgram: MESI i la Innovació Björk, Thomas PhD, Universitat Fabra, NataliaAlòs, Elisa Stockholm School de Barcelona Universidad Carlos IIIUniversitat Pompeu Fabra of Economics Program: MESI PhD, European UniversityPhD, Polytechnic Institute PhD, KTH (Royal Institute Instituteof New York of Technology) Corominas, Margarida Program: MCMRProgram: MESI Program: FIN Institute for Research in Biomedicine Federico, GiulioAntó, Josep María Cabeza Gutés, Maite (IRB Barcelona) CRA InternationalCentre for Research in Universitat Autònoma PhD, Universitat PhD, Oxford UniversityEnvironmental Epidemiology de Barcelona Pompeu Fabra Program: MCMRMD, Universitat Autònoma PhD, University of California, Program: MESIde Barcelona Davis Ferràs, XavierProgram: MESI Program: MPFM Danielsson, Jon Center for Business London School of Innovation, ACC1ÓArtadi, Elsa Cassiman, Bruno Economics PhD, UniversitatBocconi University IESE / Katholieke Universiteit PhD, Duke University de BarcelonaPhD, Harvard University Leuven Program: FIN Program: MESIProgram: ITFD PhD, Northwestern University Program: MESI del Baño, SebastianBeato, Paulina Centre de RecercaRepsol-YPF MatemàticaPhD, University of Minnesota PhD, Universitat PolitècnicaProgram: MCMR de Catalunya Program: FIN106

APPENDICESGallo, Pedro Herguera, Iñigo León, Ángel Lora-Tamayo, EmilioUniversitat de Barcelona / Universidad Complutense Universitat d’Alacant Centro NacionalCIBERESP / Spanish de Madrid / Comisión PhD, Universitat d’Alacant de MicroelectrónicaMinistry of Health del Mercado de las Programs: FIN, ITFD PhD, UniversidadPhD, London School Telecomunicaciones Complutense de Madridof Economics PhD, European University León, Gonzalo Program: MESIProgram: MESI Institute Universidad Politécnica Program: MCMR de Madrid Merino, AnnaGarcía-Montalvo, José PhD, Universidad Politécnica Universitat Pompeu FabraUniversitat Pompeu Fabra Isern, Jordi de Madrid PhD, UniversitatPhD, Harvard University Institute for Space Studies Program: MESI Pompeu FabraPrograms: ITFD, GPEFM of Catalonia (IEEC) Program: MCMR PhD (Physics), Universitat Levy-Yeyati, EduardoGiribert, Jacques de Barcelona Universidad Torcuato Di Tella/ Moreno, ManuelIDAPT Program: MESI Barclay’s Capital / World Bank UniversidadMSc, Management and PhD, University de Castilla-La ManchaEnterpreneurship, HEC Jackwerth, Jens of Pennsylvania PhD, UniversidadProgram: MESI University of Konstanz Program: ITFD Carlos III de Madrid PhD, University of Goettingen Program: FINGódia, Francesc Program: FIN Llobet, GerardUniversitat Autònoma Centro de Estudios Novales, Alfonsode Barcelona Jarocinski, Marek Monetarios y Financieros Universidad ComplutensePhD, Universitat Autònoma European Central Bank (CEMFI) de Madridde Barcelona PhD, Universitat PhD, University of Rochester PhD, University of MinnesotaProgram: MESI Pompeu Fabra Program: MCMR Program: FIN Program: MPFMGoytisolo, Fermín López, Cayetano Nunes, RicardoLaboratorios Dr. Esteve Kleiman, Ephraim Research Center in Energy, Board of Governors,PhD, University of Cambridge Hebrew University Environment and Technology US Federal Reserve SystemProgram: MESI of Jerusalem (CIEMAT) PhD, Universitat PhD, London School of PhD, Universidad Autónoma Pompeu Fabra Economics de Madrid Program: MPFM Program: ITFD Program: MESI 107

Padilla, Jorge Reiter, Michael Segura, Pascual Trilla, AntoniLECG Institute of Advanced Universitat de Barcelona Preventive Medicine andPhD, Oxford University Studies (Vienna) PhD, Universitat Epidemiology, Hospital ClínicProgram: MCMR PhD, University of Munich de Barcelona MD, Universitat Autònoma Program: MPFM Program: MESI de BarcelonaPascual, Roberto Program: MESIUniversidad de Rey, Patrick Sentana, EnriqueLas Islas Baleares Université de Toulouse Centro de Estudios Valletti, TommasoPhD, Universidad PhD, Université de Toulouse Monetarios y Financieros Università di RomaCarlos III de Madrid Program: MCMR (CEMFI) PhD, London SchoolProgram: FIN PhD, London School of Economics Ribas de Pouplana, Lluís of Economics Program: MCMRPérez, Javier IRB Barcelona Program: FINBanco de España / PhD (Biochemistry), Verboven, FrankEuropean Central Bank University of Edinburgh Skinner, Jeff Katholieke UniversiteitPhD, Universidad Program: MESI University College London LeuvenComplutense de Madrid PhD, University College PhD, University of TorontoProgram: MPFM Rosell-Melé, Antoni London Program: MCMR ICREA - Universitat Program: MESIPérez-Quirós, Gabriel Autònoma de Barcelona Veugelers, ReinhildeBanco de España / PhD, University of Bristol Telmer, Chris Bureau of EuropeanEuropean Central Bank Program: MESI Carnegie Mellon University / Policy Analysis (EuropeanPhD, University of California, Federal Reserve Bank of Commission) / KatholiekeSan Diego Rubio-Ramirez, Juan Cleveland Universiteit LeuvenProgram: MPFM Duke University PhD, Queen’s University PhD, Katholieke Universiteit PhD, University of Minnesota Program: MPFM LeuvenRanci, Pippo Program: MPFM Program: MESIUniversità Cattolica Torner, Lluísdi Milano Sala-i-Martín, Xavier The Institute of Photonic Vives, XavierMA, University of Michigan Columbia University Sciences (ICFO) IESEProgram: MCMR PhD, Harvard University PhD, Universitat Politécnica PhD, University of California Programs: ECON, ITFD de Catalunya at Berkeley Program: MESI Program: FIN108

APPENDICESExternal Research FellowsAlphabetical Listing of External Research Fellows (academics from Catalan institutionswho qualify for the Barcelona GSE Recognition of Research Program but are not affiliatedprofessors of the GSE):Arenas Moreno, Alex Haro Provinciale, Alex Raurich Puigdevall, XavierUniversitat Rovira i Virgili Universitat de Barcelona Universitat de BarcelonaBerga Colom, Dolors Hromcová Biela, Jana Sánchez-Losada,Universitat de Girona Universitat de Girona Fernando Universitat de BarcelonaCalleja Cortés, Pere Iranzo Sancho, SusanaUniversitat de Barcelona Universitat Rovira i Virgili Solé Ollé, Albert Universitat de BarcelonaCalzada Aymerich, Joan Izquierdo Aznar, Josep MªUniversitat de Barcelona Universitat de Barcelona Sorribas Navarro, Pilar Universitat de BarcelonaCarrión Silvestre, Jarque Ribera, XavierJosep Lluís Universitat de Barcelona Torres Bargalló, RicardUniversitat de Barcelona Universitat de Girona Llerena Garrés, FrancescCassiman, Bruno Universitat Rovira i Virgili Viladrich Grau, MontserratIESE ETSEA, Universitat de Lleida Marín Solano, JesúsDahm, Matthias Universitat de Barcelona Vives Torrents, XavierUniversitat Rovira i Virgili IESE Navas Ródenes, JorgeDíaz Serrano, Luis Universitat de BarcelonaUniversitat Rovira i Virgili Núñez Oliva, MarinaFreixas Bosch, Josep Universitat de BarcelonaUniversitat Politècnicade Catalunya Prior Jiménez, Diego Universitat de BarcelonaGarcía-Montalvo, JoséUniversitat Pompeu Fabra Rafels Pallarola, Carles Universitat de BarcelonaGoetz, Renan-UlrichUniversitat de Girona 109

Barcelona GSE TeamEduard Vallory Eva PujolDirector-General Executive Assistant to the Director-GeneralBruno GuallarProgram Development Cristina GarciaManager Admissions CoordinatorClara Kirchner Kayla MacduffCommunications and Alumni and CareerExternal Relations Manager Placement CoordinatorLídia Pradas Jodi NeufeldBusiness Development Communications Coordinatorand Financial Manager(until May 2011) Andrea Lacambra Program CoordinatorMarsel MeeuwsenFinancial and Administration Carlota ManchonManager Program Coordinator(from May 2011) Sira Mora Program Coordinator Esther Xifré Program Coordinator Anna Ventura Assistant to the Chairman Encarna Bretones Accountant Assistant110

APPENDICES 111

Notes112

APPENDICES 113

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Annual Report 2010-11 | Barcelona GSE

by Barcelona Graduate School of Economics (GSE) on Oct 10, 2011

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Annual Report 2010-11 | Barcelona GSE — Document Transcript