Ricardo Vicente University of Tartu School of Economics and Business Administration J. Liivi 4 50409 Tartu Estonia
Employment: 2017 2016 2012 - 2017 Spring 2017 Summer 2016 Spring 2014 2001 - 2005 Summer 2001
Email:
[email protected] sites.google.com/site/economicsricardovicente
University of Tartu School of Economics, Lecturer and Research Fellow CERGE-EI Foundation Teaching Fellow Tallinn Univ. of Technology Department of Economics and Finance, Lecturer Univ. of Tartu School of Economics and Business Admin., Course Developer Estonian Ministry of Econ. Affairs and Communications, External Researcher Estonian Ministry of Econ. Affairs and Communications, External Researcher Nova School of Business and Economics, Teaching Assistant Nova School of Business and Economics, Research Assistant
Graduate Studies: European University Institute PhD in Economics Thesis Title: Essays in Political Economy and Macroeconomics Completion Date: May 2016 Supervisors: Árpád Ábrahám, Piero Gottardi
Pre-doctoral Studies: MSc., Economics, Nova School of Business and Economics, 2007 Licenciatura (4-year degree), Economics, Nova School of Business and Economics, 2001
Research and Teaching Fields: Research: International Finance/Macro, Sovereign Debt, Fiscal Policy, Political Economics Teaching: Macroeconomics, International Economics and Globalization, Econometrics
Ricardo Vicente
Curriculum Vitae, November 2017
Teaching Experience: At the University of Tartu School of Economics and Business Administration: (* scheduled) Spring 2017 Fall 2017
Decision Making and Choice Behavior* Evaluation of Economic Policies
At the Tallinn University of Technology Department of Economics and Finance: Spring 2017 Fall 2016 Spring 2016 Fall 2015 Spring 2015 Fall 2014 Spring 2014 Fall 2013 Spring 2013 Fall 2012
International Economics International Economics, Statistical Analysis, Mathematics International Economics Statistical Analysis, Mathematics International Economics, Time Series and Panel Data Econometrics, Global Economic Trends Introductory Macroeconomics, Time Series and Panel Data Econometrics, Global Economic Trends Introductory Macroeconomics Econometrics
At the Nova School of Business and Economics: Fall 2004 Spring 2004 Fall 2003 Spring 2003 Fall 2002 Spring 2002 Fall 2001
Introductory Microeconomics, teaching assistant for Prof. D. Lucena, Industrial Organization, teaching assistant for Prof. V. Santos Introductory Microeconomics, teaching assistant for Prof. V. Santos, Econ. Regulation and Competition Policy, teaching assistant for Prof. Mª Seabra Introductory Microeconomics, teaching assistant for Prof. D. Lucena, Industrial Organization, teaching assistant for Prof. V. Santos Intermediate Microeconomics, teaching assistant for Prof. Mª Seabra Introductory Microeconomics, teaching assistant for Prof. D. Lucena Introductory Microeconomics, teaching assistant for Prof. V. Santos Introductory Microeconomics, teaching assistant for Prof. D. Lucena
Professional Activities: Presentations: School of Economics and Business Administration Research Seminar University of Tartu 2017; 21st Annual Conference of the Society for Institutional & Organizational Economics 2017 (New York City, USA); 12th Young Economists’ Seminar of the Croatian National Bank 2017 (Dubrovnik, Croatia); Annual Meeting of the Association of Southern European Economic Theorists 2016 (Thessaloniki, Greece); 3rd Conference of the World Interdisciplinary Network for Institutional Research 2016 (Boston, USA); 31st Annual Congress of the European Economic Association 2016 (Geneva, Switzerland); 6th Graduate Student Conference of the European Consortium for Political Research 2016 (Tartu, Estonia); 16th Doctoral Meetings of the Research in International Economics and Finance Network 2016 (Florence, Italy); 5th Graduate Student Conference of the European Consortium for Political Research 2014 (Innsbruck, Austria); Centre for Free Economic Thought Research Seminar Estonian Business School 2015, 2014; Department of Economics and Finance Research Seminar Tallinn University of Technology 2015, 2013 Page 2 of 4
Ricardo Vicente
Discussant:
Curriculum Vitae, November 2017
Estonian Economic Association Annual Conference 2017 (Tallinn, Estonia); 6th Graduate Student Conference of the European Consortium for Political Research 2016 (Tartu, Estonia)
Departmental Service: 2017Member of the Master’s in Quantitative Econ. Program Council Univ. of Tartu 2017 Representative at the Department Council of TTÜ Dept. Economics and Finance
Honors, Scholarships, and Fellowships: 2017 TTÜ School of Business and Governance Student Council’s “Teacher of the Year” 2016CERGE-EI Career Integration Fellowship Mar. 2017 European Regional Development Fund’s Doctoral Studies and Internationalisation Programme DoRa Plus Jan. 2017 European Regional Development Fund’s Doctoral Studies and Internationalisation Programme DoRa Plus Nov. 2016 European Regional Development Fund’s Doctoral Studies and Internationalisation Programme DoRa Plus Sept. 2016 Royal Economic Society conference grant Sept. 2016 Archimedes Foundation Kristjan Jaak scholarship Aug. 2016 European Regional Development Fund’s Doctoral Studies and Internationalisation Programme DoRa Plus Jun. 2016 European Regional Development Fund’s Doctoral Studies and Internationalisation Programme DoRa Plus Mar. 2013 Euro. Social Fund’s Doctoral Studies and Internationalisation Programme DoRa 2010-2011 European University Institute 4th Year Grant (declined) 2008-2011 Portuguese Science and Technology Foundation PhD scholarship (2008-2011) 2007-2010 Portuguese Ministry of Foreign Affairs scholarship for the realization of a PhD at the European University Institute (2007-2010)
Short Courses Taken: 2017 Monetary Policy: An Imperfect Knowledge Perspective (B. Preston), U Mannheim 2017 Introduction to R (F. Weiler), University of Bamberg 2016 Teaching Principles and Practices for Economics (R. Filer, D. Nováková, J. Hanousek, P. Whitaker, G. Krueger), CERGE-EI 2011 Liberty and Society (B. Caplan, A.I. Cohen, M. McNamara, J. Sorens), The Institute for Humane Studies 2008 Bayesian Econometrics (James Hamilton), Universidade do Minho 2005 Modeling the Evolution of the World Economy (Ronald Findlay), Nova SBE 2002 Regulation and Competition Policy, (M. Motta, and J.E. Harrington), Nova SBE
Skills: Software Languages
Matlab, Stata, EViews, Scientific Workplace, R English (fluent), Portuguese (native), Italian (advanced), German (intermediate), Estonian (beginner) Page 3 of 4
Ricardo Vicente
Curriculum Vitae, November 2017
Research Papers: “Sovereign Default and Coalition Formation” The recent Portuguese and Greek histories and empirical research show that central government coalitions play a special role during sovereign debt crises. The empirical literature has confirmed such role by identifying a strong effect of coalitions on the likelihood of sovereign debt default and rescheduling in democracies. In this paper, I develop a sovereign debt model to explain the role of coalitions, and why surplus coalitions are so much more common than previous knowledge would imply. The model features endogenous decisions on default and repayment, coalition formation, borrowing and redistribution. Conditional on the state of the economy, bond prices are weakly higher for coalition government than for single-party government, and this effect is largest when there is a deep recession and the borrowing level is low. Median interest rate differences between single-party government and coalition government are large. Model simulations show that coalitions tend to be formed during periods of mild recession and a large stock of debt. As they are formed in hard times, coalition periods are characterized by high interest rates, which would be higher still under single-party government. Having a long-term perspective favors coalition formation: among other factors and in general, higher polarization and lower turnover contribute positively to the rate of coalition formation. These results provide further rationalization to the formation of surplus coalitions: for large parties, more power increases the incentive to form coalitions. This is explained by a static effect, via decreasing marginal utility, and the dynamic effect that autarky is less valuable for the party in office for a combination of high polarization with low turnover. The qualitative real business cycle results of the model are similar to those of other sovereign debt models, and the quantitative results related to sovereign debt are improved.
“On De Facto Political Power, Rent Extraction, and Tenure” A political leader redistributes income between herself and society in a deterministic endowment economy. Higher rent extraction leads to higher odds of deposition. To overcome the trade-off between rent extraction and survival in power, the leader diverts resources from her consumption into investment in de facto political power. Society can depose the leader if it is able to buy back the de facto power investments, and face other deposition costs. In equilibrium, the leader will be able to last longer in office than when investment in de facto power would not be possible. The model differences between democracy and non-democracy are kept to a minimum, and leaders are assumed to behave in the same way regardless of political regime. In democracy, leaders hold power much shorter periods, do not invest in de facto power, and generally appropriate fewer resources. The model thus accounts for important aspects of the data on duration in power and government effectiveness in both democracies and non-democratic regimes. It prescribes a high degree of independence of the economy from government for the purpose of achieving potential GDP; short-term limits and regular checks on the executive power; and careful scrutiny of public procurement and spending on security and defense.
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