BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Talks.cam//talks.cam.ac.uk//
X-WR-CALNAME:Talks.cam
BEGIN:VEVENT
SUMMARY:Incompatible European Partners? Cultural Predisposition and Househ
 old Financial Behaviour - Michael Haliassos holds the Chair of Macroeconom
 ics and Finance at Goethe University Frankfurt and is Director of the newl
 y launched CEPR Network on Household Finance\, Fellow of CEPR and NETSPAR\
 , and advisor to the ECB and ESMA.
DTSTART:20160218T130000Z
DTEND:20160218T140000Z
UID:TALK57397@talks.cam.ac.uk
CONTACT:Cerf Admin
DESCRIPTION:The recent influx of migrants and refugees into Europe and els
 ewhere raises questions as to whether migrant behavior reflects cultural p
 redispositions and whether those prevent assimilation through exposure to 
 host institutions. The paper focuses on financial behavior and uses admini
 strative data on migrants and refugees to Sweden to study differences acro
 ss cultural groups in the relationship of behavior to underlying household
  characteristics. It shows that such differences do exist but they diminis
 h with exposure to host country institutions\, even when cultural distance
 s are large. Viewed from a different angle\, our results also have implica
 tions for the potential of European institutional harmonization\, exogenou
 sly imposed in the context of the fiscal crisis\, to alleviate cultural di
 fferences in financial behavior. Finally\, we find that robust cultural cl
 assification of European countries\, based on genetic distance or on Hofst
 ede’s cultural dimensions\, fails to identify a single ‘southern’ cu
 lture but points to a ‘northern’ culture. 
LOCATION:Room W4.03 Judge Business School
END:VEVENT
END:VCALENDAR