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St.Petersburg Economic seminar (HSE, EU, PDMI) on January, 16: Aleksandra Lukina (University of Chicago Harris School of Public Policy)

Topic: Finding Poverty Traps: Theory (joint with Lawrence Blume and Steven Durlauf)
Date & Time: January, 16; 18:00 - 19:30
Venue: St Petersburg, Fontanka river embankment, 27, PDMI RAS, Marble hall (2nd floor)

We invite you to participate in the St.Petersburg Economic seminar (HSE, EU, PDMI) on January, 16.

Aleksandra Lukina (University of Chicago Harris School of Public Policy) will give a talk on Finding Poverty Traps: Theory (joint with Lawrence Blume and Steven Durlauf).

Time:
 18:00 - 19:30
Venue: St Petersburg, Fontanka river embankment, 27, PDMI RAS, Marble hall (2nd floor)

Abstract: Models of poverty traps are dynamical systems with more than one attractor. Similar dynamical systems arise in optimal growth and macroeconomic models. These systems are often studied empirically by ad hoc methods relying on intuition from deterministic systems, such as looking for multiple peaks in the distribution of states. We show that in a stochastic model of poverty traps, multiple peaks may not exist, or may be very hard to detect and that some deterministic attractors are stochastically stable, while others are not. We examine the comparative statics of stochastically stable states and show how deterministic models give correct short-run descriptions of the model’s dynamic behavior, but incorrect long-run descriptions.

Calendar: https://tinyurl.com/spbecon
Research seminar webpage: http://scem.spb.hse.ru/en/ilgt/hse-eusp-seminar