nineteenth world

congress

2021
Virtual 2-6 July
programme

organized by:

With the support of:

 WELCOME MESSAGE

The 19th World Congress of the International Economic Association was to be held in Bali, Indonesia in
July 2020. But these are unusual times, and the pandemic has forced us to postpone it to July 2021, and
to hold it online and in abbreviated form. Nevertheless, we hope we have managed to put together an
interesting program and look forward to your participation. Plenary sessions and a selection of invited
sessions will be held online by Zoom between July 2-6, 2021, while other invited sessions and
contributed papers will be recorded in advance and uploaded to the congress website.

The IEA’s World Congress is one of the largest gatherings of its kind and brings people from all over the
world to discuss their research and policy issues of mutual concern and to address and debate the big
economic and policy challenges of our time. We expect vibrant discussion as usual, and engagement
with new ideas in the coming days.

The IEA relies on global cooperation for its success. We are deeply thankful to the Ministry of Finance of
Indonesia and in particular to Minister of Finance Sri Mulyani Indrawati who offered to host the original
Congress in Bali and have contributed significantly to the realization of the online version. We are
hugely appreciative of the tireless work of the members of the program committee, whose names
appear on page 2. We are also extremely grateful to Andrea Cavallo, the IEA’s manager and Congress
supremo, who has played a pivotal role throughout.

The program committee has helped in the selection of papers and organization of sessions along with
a range of partner organizations – we are grateful to all of them. The Congress would not have been
possible without generous sponsorship. We would like to thank the Asian Development Bank (ADB),
Nandan Philanthropies, the United Nations Development Program (UNDP), the University of Illinois at
Chicago (UIC) and Bloomberg.

Every economic crisis calls for change in the economics profession and for new thinking. This was true
after the global financial crisis, and it is even more true after the devastating effects of the COVID-19
pandemic on health and livelihoods around the world. We hope the world pulls out of the pandemic
quickly. Greater availability of vaccines and their distribution in poor nations will be critical for that. But
even with the pandemic behind us, the economic scars on labor markets in advanced nations and the
reversal in developmental gains in poor countries will remain with us. And they are likely to exert a long
shadow on the future.

Economics is responding to the challenges of our time. Environmental sustainability, inequalities of

gender, race, incomes, the rise of authoritarian populism, and the reform of globalization are all
centrally on the agenda of the profession. New areas such as behavioral economics, political economy,
and the economics of culture continue to develop alongside more traditional fields of the discipline.
The IEA has always stood for a combination of relevance and rigor. And we have stood for diversity both
in terms of perspectives on economic problems and the representation of participants.

The Congress is an opportunity for elevating ongoing discussions and debates within Economics onto
a truly global stage.

Our aim is to represent the global economics profession in all of its dimensions. We continue to find
new members keen to join in this global project and we are welcoming Colegio de Ciencias
Económicas de Tamaulipas A.C. (Mexico), Economics Association of Zambia (EAZ) and Global Labor
Organization (GLO) to their first World Congress as members. But we do not take our loyal existing
members for granted, and we are grateful for their continuing support, recognizing that there is a role
for a global federation of economics’ associations.

The next World Congress is scheduled for 2023 when we look forward to welcoming you back and
Elhanan Helpman will be taking over as President.

We wish you an enjoyable and intellectually rewarding Congress.

Kaushik Basu, President

Dani Rodrik, President-Elect and Congress Chair

1
 PROGRAM COMMITTEE

Dani Rodrik (Chair) (Harvard University) Anders Jensen (Harvard University)

Vivi Alatas (Asakreativita) Omar Licandro (University of Nottingham)

Chong-en Bai (Tsinghua University) Luis Felipe López-Calva (UNDP)

Jie Bai (Harvard University) Dalia Marin (TUM School of Management,

Technical University of Munich)

Chatib Basri (University of Indonesia)
Atif Mian (Princeton University)
Haroon Bhorat (University of Cape Town)
Célestin Monga (AfDB)
Sam Bowles (Santa Fe Institute)
Rohini Pande (Yale University)
Leonardo Bursztyn (University of Chicago)
Marta Reynal-Querol (ICREA- UPF, IPEG and

Lorenzo Caliendo (Yale University) Barcelona GSE)

Wendy Carlin (University College London) Rohini Somanathan (Delhi School of Economics)
Teguh Dartanto (University of Indonesia) Stefanie Stantcheva (Harvard University)
Ashwini Deshpande (Ashoka University) Chris Udry (Northwestern University)
Ishac Diwan (Ecole Normale Superieure, Paris) Ercan Uygur (Turkish Economic Association

Claudio Ferraz (UBC and PUC-Rio) Foundation)

Augustin Fosu (ISSER, University of Ghana) Juan Vargas (Universidad del Rosario)
Sergei Guriev (Sciences Po) Leonard Wantchekon (Princeton University)
Rema Hanna (Harvard University) Firman Witoelar (Australian National University)
Elhanan Helpman (Harvard University) Chenggang Xu (Cheung Kong Graduate School

of Business)

LOCAL ORGANIZING COMMITTEE, Ministry of finance

Hidayat Amir
Ayu Sukorini

(Director for Macroeconomic Policy Center) (Head of Secretariat, Fiscal Policy Agency)

2
day 1 | THURSDAY 1 - FRIDAY 2, JULY 2021 wc2021
Thu 1 21:30 to 22:00 EDT | Fri 2 08:30 to 09:00 Jakarta

Opening Ceremony

Click here to register for this session

Messages from: Sri Mulyani Indrawati (Minister of Finance of Indonesia), Kaushik Basu (Cornell
University) and Masatsugu Asakawa (ADB President)

Sri Mulyani Indrawati Kaushik Basu Masatsugu Asakawa

Thu 1 22:00 to 23:00 EDT | Fri 2 09:00 to 10:00 Jakarta

PANEL

Panel on Asian and Global Policy Issues

Click here to register for this session

Chair: Kaushik Basu (Cornell University)

Speakers: Sri Mulyani Indrawati (Minister of Finance of Indonesia), Dani Rodrik (Harvard
University) and Mari Pangestu (University of California)

Kaushik Basu Sri Mulyani Indrawati Dani Rodrik Mari Pangestu

3
day 1 | FRIDAY 2, JULY 2021 wc2021
Fri 2 00:00 to 01:00 EDT | Fri 2 11:00 to 12:00 Jakarta
Bank Indonesia Institute / IBER / Asia-Pacific Applied Economics Association (APAEA)

COVID-19 and Monetary Policy

Click here to register for this session

Chair: Paresh K. Narayan (Monash University)

PAPER 1

Understanding Market Reaction to COVID-19 Monetary and Fiscal

Stimulus in Major ASEAN Economies

Paresh K. Narayan (APAEA, Monash Universty, Australia), Syed Aun R. Rizvi (APAEA, Lahore
University of Management Sciences, Pakistan), Solikin M. Juhro (Bank of Indonesia)

PAPER 2

COVID-19, Policy Responses, and Productivity Around the Globe

Bernard Njindan Iyke (Centre for Financial Econometrics, Deakin University & APAEA), Susan
Sunila Sharma (Centre for Financial Econometrics, Deakin University & APAEA), Iman Gunadi
(Bank of Indonesia Institute)

PAPER 3

Covid-19 Uncertainty and Monetary Policy Responses: Evidence f rom

Emerging Market Economies

K.P. Prabheesh (Indian Institute of Technology, Hyderabad), Cicilia Harun (Bank of Indonesia),
Solikin M. Juhro (Bank of Indonesia)

PAPER 4

Fluctuations and Spillovers of Intraday Exchange Rates during COVID-19:

Evidence f rom Selected Asian Countries

Neluka Devpura (APAEA, University of Sri Jayewardenepura, Sri Lanka), Aryo Sasongko (Bank
of Indonesia), Iman Gunadi (Bank of Indonesia Institute)

4
day 1 | FRIDAY 2, JULY 2021 wc2021
03:00 to 04:00 EDT | 14:00 to 15:00 Jakarta
MoF Indonesia

The Economic Impact of a Mega Sport Event: A Case Study

of Asian Games 2018

Click here to register for this session

Chair: Amalia Adininggar Widyasanti (Ministry of National Development Planning/Bappenas)

PAPER 1

Long-Term Effect of Mega Sports Event on Host Country’s Tourism:

Evidence from the Jakarta-Palembang 2018 Asian Games

Mohamad D. Revindo, Amalia A. Widyasanti, Chairina H. Siregar, Devina Anindita, Nurindah

W. Hastuti, Sean Hambali and Devianto (University of Indonesia; Ministry of National
Development Planning, Indonesia)

PAPER 2

Estimating Economic Impact of a Major Sports Event: A Case Study of the

18th Asian Games

Mochammad Firman Hidayat (Ministry of National Development Planning/Bappenas), Bertha

Fania Maula (FEB-Universitas Brawijaya) and Amalia Adininggar Widyasanti (Ministry of National
Development Planning/Bappenas)

PAPER 3

Bank Credit Development: A Study of Macro-Prudential Effect

Sebastiana Viphindrartin (FEB-Universitas Jember)

PAPER 4

Social Capital Roles in Maintaining Investment Sustainability in Lumajang

Regency

Silvi Asna Prestianawati (FEB-Universitas Brawijaya)

5
day 1 | FRIDAY 2, JULY 2021 wc2021
08:00 to 08:10 EDT | 19:00 to 19:10 Jakarta
Stiglitz Essay Prize award ceremony

Click here to register for this session

Graduate category

1st Prize: Nicolas Longuet Marx (Columbia University)

2nd Prize: Mumin Ahmed (University of Glasgow)

3rd Prize: Wannaphong Durongkaveroj (Australian National University)

Undergraduate category

1st Prize: Daksh Walia (Ashoka University)

2nd Prize: Pradnyee Kantak, Fergusson College (Autonomous)

08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta

PLENARY

Plenary: Development and Macroeconomic Policy in a

Post Neo-Liberal World

Click here to register for this session

Chair: Kaushik Basu (Cornell University)

Speaker: Joseph Stiglitz (Columbia University)

Kaushik Basu Joseph Stiglitz

6
day 1 | FRIDAY 2, JULY 2021 wc2021
08:30 to 09:30 EDT | 19:30 to 20:30 Jakarta
INVITED ACADEMIC

The Rise of China: Causes and Consequences

Click here to register for this session

Chair: Dalia Marin (TUM School of Management, Munich)

PAPER 1

Institutional Foundations of China´s Growth and Slowdown

Zheng Michael Song (Chinese University of Hong Kong)

PAPER 2

The Impact of China Trade on Inequality in High-Income Countries

David Dorn (University of Zurich)

PAPER 3

China and the Backlash of Globalization

Italo Colantone (Bocconi University)

7
day 1 | FRIDAY 2, JULY 2021 wc2021
10:00 to 11:00 EDT | 20:00 to 21:00 Jakarta
INVITED ACADEMIC

Politics and Identity

Click here to register for this session

Chair: Sharun W. Mukand (Warwick University)

PAPER 1

Economic and Social Outsiders, but Political Insiders: Sweden's Populist

Radical Right

Torsten Persson (IIES), Ernesto Dal Bo (University of California, Berkeley), Frederico Finan
(University of California, Berkeley), Olle Folke (Uppsala University, Sweden), and Johanna Rickne
(Stockholm University)

PAPER 2

On the Workings of Tribal Politics

Moses Shayo (Hebrew University of Jerusalem), Assaf Patir (Hebrew University) and Bnaya
Dreyfuss (Harvard University)

PAPER 3

The Political Economy of Ideas

Sharun W. Mukand (Warwick University), Elliott Ash (ETH Zürich) and Dani Rodrik (Harvard
University)

8
day 1 | FRIDAY 2, JULY 2021 wc2021
10:00 to 11:00 EDT | 20:00 to 21:00 Jakarta
UNDP Panel

Human Development Report 2020

The Next Frontier: Human Development and the

Anthropocene

Click here to register for this session

Pedro Conceição and Carolina Rivera

The 2020 Human Development Report (HDR) doubles down on the belief that people’s
agency and empowerment can bring about the action we need if we are to live in balance
with the planet in a fairer world. It shows that we are at an unprecedented moment in
history, in which human activity has become a dominant force shaping the planet. These
impacts interact with existing inequalities, threatening significant development reversals.
Nothing short of a great transformation – in how we live, work and cooperate – is needed to
change the path we are on. The Report explores how to jumpstart that transformation.

Though humanity has achieved incredible progress, we have taken the Earth for granted,
destabilizing the very systems upon which we rely for survival. Covid-19, which almost
certainly sprang to humans from animals, offers a glimpse of our future, in which the strain
on our planet mirrors the strain facing societies. It took Covid-19 very little time to expose and
exploit overlapping inequalities, as well as weaknesses in social, economic, and political
systems, and threaten reversals in human development.

While the devastating effects of Covid-19 have taken the world’s attention, other layered
crises, from climate change to rising inequalities, continue to take their toll. The challenges
of planetary and societal imbalance are intertwined: they interact in a vicious circle, each
making the other worse. How should we react to this new age? Do we choose to strike out
on bold new paths striving to continue human development while easing planetary
pressures? Or do we choose to try—and ultimately fail—to go back to business as usual and
be swept into a dangerous unknown?

This Human Development Report is firmly behind the first choice, and its arguments go
beyond summarizing well-known lists of what can be done to achieve it.

9
day 1 | FRIDAY 2, JULY 2021 wc2021
10:00 to 11:00 EDT | 20:00 to 21:00 Jakarta
UNDP Panel

Presentation from the Regional Bureau of Latin America and the Caribbean

Nature Based Solutions in Latin America and the

Caribbean

Almudena Fernández

The Human Development Report 2020: Human Development and the Anthropocene, firmly
argues that a great transformation is needed, in the way we live, work and cooperate, to
expand human development while easing our negative impact on the planet. The road to
get there requires improved incentives, changes in social norms, and nature-based solutions.
This paper explores nature-based solutions, or approaches, coming from Latin America and
the Caribbean, that result in healthier ecosystems for both people and planet. The objective
is to understand what solutions works, how they can be scaled, and what enabling
environment is needed for these solutions to arise and be sustained. How do we rethink
governance models so that these solutions are potentiated and leveraged, as opposed to
marginalize or disenfranchise the communities that are creating change?

11:00 to 12:00 EDT | 21:00 to 22:00 Jakarta

INVITED ACADEMIC

The State and the Frontier Innovation

Click here to register for this session

Chair: David Y. Yang (Harvard University)

PAPER 1

Information is Power: Monopoly Power, Information Technology and the

Rise of the Digital State

Nathan Lane (Monash University)

10
day 1 | FRIDAY 2 - Saturday 3, JULY 2021 wc2021

PAPER 2

Industrial Policies in Production Networks

Ernest Liu (Princeton University)

PAPER 3

Data-Intensive Innovation and the State: Evidence from Al Firms in China

David Y. Yang (Harvard University)

Fri 2 22:00 to 23:30 EDT | Sat 3 09:00 to 10:30 Jakarta

PLENARY

Plenary with Panel: Asia's Journey to Prosperity

Click here to register for this session

Speakers: Kaushik Basu (Cornell University), Muhamad Chatib Basri (University of Indonesia),
Sri Mulyani Indrawati (Minister of Finance of Indonesia), Takehiko Nakao (Former President of
ADB), and Yasuyuki Sawada (Chief Economist and Director General of ADB)

Kaushik Basu Muhamad Chatib Basri

Sri Mulyani Indrawati Takehiko Nakao Yasuyuki Sawada

11
day 1 | Saturday 3, JULY 2021 wc2021

03:00 to 04:00 EDT | 14:00 to 15:00 Jakarta

MoF Indonesia

Banking and Entrepreneurship in Creating Social Equity

Click here to register for this session

Chair: Silvi Asna Prestianawat (FEB-University of Brawijaya)

PAPER 1

Eliminating Banking Intermediation System: Sharia House Ownership in

Social System Implication

Asfi Manzilati (FEB-University of Brawijaya)

PAPER 2

The Effect of International Migration towards Entrepreneurship in Indonesia

Wildan Syafitri (University of Brawijaya)

PAPER 3

The Relationship among Digital Financial Literacy, Behavior of Saving and

Spending and Foresight of Future Saving and Spending among Indonesian
Millennials in the Digital Era

Ma man Setiawan C D , N D , Nury Effendi C D , N D , Teguh Santoso C D , N D ,

( E S U PA ) ( E S U PA ) ( E S U PA )

Vera Intanie Dewi C D , N D and Militcyano S. Sapulette C D , N D

( E S U PA ) ( E S U PA )

PAPER 4

Radiator Spring Phenomenon: Unintended Consequences of Toll Road

Inf rastructure

Martin D. Siyaranamual C D , N D
( E S U PA )

12
day 2 | saturday 3, JULY 2021 wc2021
08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta
PLENARY

Plenary: Market Size, Trade and Development

Click here to register for this session

Chair: Dani Rodrik (Harvard University)

Speaker: Penny Goldberg (Yale University)

Dani Rodrik Penny Goldberg

08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta

INVITED ACADEMIC
How did China Develop?

Click here to register for this session

Chair: Atif Mian (Princeton University)

Speakers: Chenggang Xu (Cheung Kong Graduate School of Business), Weiying Zhang (Peking
University Center for Market and Network Economy), Zheng Michael Song (Chinese University of
Hong Kong, Institutional Foundations of China's Growth and Slowdown) and Yuen Yuen Ang
(University of Michigan)

13
day 2 | saturday 3, JULY 2021 wc2021
09:00 to 10:00 EDT | 20:00 to 21:00 Jakarta
INVITED ACADEMIC

What Should an Economist Know?

Click here to register for this session

Chair: Samuel Bowles (Santa Fe Institute and CORE)

Speakers: Wendy Carlin (UCL, CEPR, Santa Fe Institute), Jean-Paul Carvalho (University of
California, Irvine), Pauline Grosjean (UNSW) and Eric Maskin (Harvard University)

10:00 to 11:00 EDT | 21:00 to 22:00 Jakarta

PLENARY

Plenary: Mapping Power and Inequality: Institutions and

Individuals

Click here to register for this session

Chair: Dani Rodrik (Harvard University)

Speaker: Rohini Pande (Yale University)

Dani Rodrik Rohini Pande

14
day 2 | saturday 3, JULY 2021 wc2021
12:00 to 13:00 EDT | 23:00 to 00:00 Jakarta
INVITED ACADEMIC

Great Recession, Productivity Slowdown and Business

Dynamism

Click here to register for this session

Chair: Omar Licandro (University of Nottingham)

PAPER 1

What Happened to U.S. Business Dynamism?

Sina Ates (University of Chicago)

PAPER 2

Switching-Track after the Great Recession

Francesca Vinci (European Central Bank)

PAPER 3

Market Power and Innovation in the Intangible Economy

Maarten de Ridder (London School of Economics)

15
day 2 | saturday 3 - sunday 4, JULY 2021 wc 2021

Sat 3 20:00 to 21:00 EDT | Sun 4 07:00 to 08:00 Jakarta

PANEL

Panel on Asia's Transformation

Click here to register for this session

Chair: Andrew Sheng (University of Hong Kong)

Speakers: Danny Quah (National University of Singapore), Jayati Ghosh (University of

Massachusetts at Amherst, USA), Eisuke Sakakibara (President of the Institute for Indian Economic

Studies) and Mari Pangestu (World Bank)

Andrew Sheng

Danny Quah Jayati Ghosh Eisuke Sakakibara Mari Pangestu

16
day 3 | sunday 4, JULY 2021 wc2021
03:00 to 04:00 EDT | 14:00 to 15:00 Jakarta
MoF Indonesia

CEDS UNPAD Session: Recent Indonesian Economic

Development in Industry 4.0

Click here to register for this session

Chair: Maman Setiawan (CEDS, Universitas Padjadjaran)

PAPER 1

The Impact of Industry 4.0 to the Indonesian Economy: A Computable

General Equilibrium Analysis

Arief Anshory Yusuf (CEDS, Universitas Padjadjaran)

PAPER 2

Predicting the Shift in Consumer Behaviour and Digital Industry Landscape

Nury Effendi, Maman Setiawan, Teguh Santoso and Vera Intanie Dewi (CEDS, Universitas
Padjadjaran)

PAPER 3

Digitalisation of Financial Development and Inequality of Outcomes:

Evidences on East and South Asia in 2000-2015

Berly Martawardaya (The Institute for Development of Economics and Finance (INDEF))

17
12
day 3 | sunday 4, JULY 2021 wc2021
05:00 to 06:00 EDT | 16:00 to 17:00 Jakarta
Bank Indonesia Institute/IBER

Financial System Development in Emerging Countries

Click here to register for this session

Chair: Iman Gunadi (Head of Bank Indonesia Institute Research Center)

PAPER 1

Financial Integration and Financial System Development in Emerging

Market and Developing Countries

Fiskara Indawan (Bank Indonesia Institute)

PAPER 2

Sovereign Green Sukuk: Environmental Risk Model Development

Aryo Sasongko and Ali Sakti (Bank Indonesia)

PAPER 3

A Macroprudential Stress Test with Simultaneous Idiosyncratic Shocks

Aditya Anta Taruna, Cicilia A. Harun, and Ramdani Ramdani (Macropudential Policy
Department, Bank Indonesia)

18
12
day 3 | sunday 4, JULY 2021 wc2021
08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta
PANEL

Panel on

on Globalization

Click here to register for this session

Chair: Joseph Stiglitz (Columbia University)

Speakers: Kaushik Basu (Cornell University), Dani Rodrik (Harvard University), Jayati Gosh
(University of Massachusetts at Amherst, USA) and Rohinton Medhora (CIGI)

Joseph Stiglitz

Kaushik Basu Dani Rodrik Jayati Ghosh Rohinton Medhora

19
day 3 | sunday 4, JULY 2021 wc2021
10:00 to 11:00 EDT | 21:00 to 22:00 Jakarta
INVITED ACADEMIC

Re-Examining the Growth-Poverty-Inequality Nexus in

Africa

Clic here to register for this sessio

k n

Chair: Njuguna Ndung´u (AERC Africa)

PAPER 1

Towards a Virtuous Spiral between Poverty Reduction and Growth in

Sub-Saharan Africa

Erik Thorbecke (Cornell University) and Yusi Ouyang (Tulsa University)

PAPER 2

Alleviating Poverty in Sub-Saharan Africa The Role of Inclusive usiness : B

Model s

B ernadette a gnia K m D ia and Alban A Ahour (Cellule d Analyse des oliti ues Econo i ues du
. é ' P q m q

Cires (CA EC) Cote d voire)

P , ’I

PAPER 3

Poverty Inequality and Growth in Sub-Saharan Africa Evidence from

, , :

Household Survey s

G er ano M abu (University of Nairobi) and Francis aye (University of Yaoude

m w B II, Ca eroon)
m

PAPER 4

Income Inequality and Redistribution in Sub-Saharan Africa

Finn Tarp and Miguel Nino-Zarazua (University of Copenhagen and UNU)

PAPER 5

Inequality of O pportunity and the Growth-Inequality-Poverty Nexus in

Afric a

Christian Ebeke ( nternational Monetary Fund)

I

20
day 3 | sunday 4, JULY 2021 wc2021
12:00 to 13:00 EDT | 23:00 to 00:00 Jakarta
INVITED ACADEMIC

Gender and Economics

Click here to register for this session

Chair: Leonardo Bursztyn (University of Chicago)

PAPER 1

The Old Boys' Club: Schmoozing and the Gender Gap

Zoe Cullen (Harvard Business School)

PAPER 2

Interpreting Signals in the Labor Market: Evidence from Medical Referrals

Heather Sarsons (Chicago Booth)

PAPER 3

It Takes Two: Gender Differences in Group Work

Siri Isaksson (Norwegian School of Economics)

PAPER 4

Happily Ever After: Immigration, Natives’ Marriage and Fertility

Michela Carlana (Harvard Kennedy School)

21
day 4 | MONDAY 5, JULY 2021 wc2021
03:00 to 04:00 EDT | 14:00 to 15:00 Jakarta
MoF Indonesia

Financial Development to Lessen Poverty and Income

Inequality

C lick here to register for this session

Chair: Tauhid Ahmad (Institute for Development of Economics and Finance (INDEF))

PAPER 1

Financial Literacy and Poverty: Transmission Mechanism

Media Wahyudi Askar (Institute for Development of Economics and Finance (INDEF))

PAPER 2

Poverty, Growth and Inequality in Decentralisation Era in Indonesia

Rusli Abdulah (IPB University)

PAPER 3

Rent Seeking and Corruption Behaviour on Regional Development of

Pandeglang District

Didin S. Damanhuri (IPB University)

PAPER 4

Determinants of the Success of Redenomination of Rupiah Currency

Bambang Juanda (IPB University)

22
day 4 | MONDAY 5, JULY 2021 wc2021
08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta
UIC/Bloomberg

Tobacco Economics in the Asian Region

Click here to register for this session

Chair: Frank J. Chaloupka (UIC)

PAPER 1

Tobacco or Not Tobacco: Predicting Farmers Income in Indonesia

Gumilang Aryo Sahadewo (Universitas Gadjah Mada, Yogyakarta, Indonesia)

ABSTRACT. Recent research in several countries has demonstrated that small-holder

tobacco farming is typically not a profitable enterprise. Many farmers report losing money
in this economic endeavor, even without incorporating the value of their household labor.
Losses are typically considerably worse when household labor is considered. We take
advantage of panel data that include information about both current and former tobacco
farmers’ characteristics and economic decisions to be the first to rigorously estimate the
effects of both tobacco and non-tobacco farming on income. We find that former tobacco
farmers are typically generating profits from their nontobacco farming, while current
tobacco farmers are more typically experiencing losses. Former tobacco farmers’ income
exceeded current tobacco farmer’s even in the period in which tobacco yields and prices of
tobacco leaves were relatively high. We find a negative effect of tobacco farming on
household income.

23
day 4 | MONDAY 5, JULY 2021 wc2021
08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta
UIC/Bloomberg

PAPER 2

Discrete Choice Experiment in Vietnam: Brand-Switching Behavior and Tax

Policies

Anh Nguyen (DEPOCEN, Hanoi, Vietnam)

ABSTRACT. In this paper, we conduct a discrete choice experiment to study the impact of a
change in cigarette price on smokers’ cigarette brand choice in Vietnam. We estimate
brand-level demand system on stated preferences data, and then, calibrate the estimates
on actual choice data collected along the experiment. The calibrated model is used to
calculate semi-price elasticities and simulate the impact of a number of tax reform
proposals which are being considered by the Government of Vietnam. As expected, the
results suggest that cigarette brands are generally more sensitive to a change in the price
of a brand, which is located closer to them in the price distribution. Under the complete
pass-through assumption, adding a specific component to the current purely ad valorem
excise tax tends to affect the lowest-priced cigarette brands the most. The premium brands
are least effected.

PAPER 3

Quantify the Potential Tax Base of the Cigarette Industry in Pakistan

Wasim Saleem (Social Policy Development Centre, Karachi, Pakistan)

ABSTRACT. This study estimates the potential levels of output by the cigarette industry to
measure the extent of under-reporting of domestic production of cigarettes in Pakistan.
The methodology is based on quantitative analysis where two alternate approaches have

24
day 4 | MONDAY 5, JULY 2021 wc2021
08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta
UIC/Bloomberg

been adopted: supply function - annual and monthly, and analysis based on financial time
series and panel data. There is evidence of considerably high level of under-reporting of
cigarette production by the firms. The magnitude of the estimate based supply function
(annual and monthly) are relatively higher than those based on financial data. The
conservative estimates based on supply function method suggest that the extent of
under-reporting in 2016-17 was in the range of 44 percent to 47 percent, while the estimates
based on financial analysis indicate the extent of under-reporting to be around 25 percent
during 2016-18.

PAPER 4

Poverty and Tobacco Use in Bangladesh and Pakistan

Maryam Mirza (University of Illinois, Chicago, US)

ABSTRACT. This study quantifies the impact of tobacco consumption on the estimate of
poverty in Pakistan and Bangladesh. Using Household Income and Expenditure Surveys
2016 (Bangladesh), Household Income and Expenditure Surveys 2018 (Pakistan), Health and
Economic Costs data collected by the Pakistan Institute of Development Economics
(Pakistan), and estimated from the study titled "The Economic cost of tobacco use in
Bangladesh A Health Cost Approach", the study will calculate the impoverishing effect of
tobacco consumption. Previous research has established the link between poverty and
tobacco use. Spending on tobacco exacerbates poverty by resulting in a direct drain on
disposable income and increases the risk of morbidity and mortality leading not only to
higher healthcare expenditure, but also to reduced income for the entire household.

20
25
day 4 | MONDAY 5, JULY 2021 wc2021

08:00 to 08:10 EDT | 19:00 to 19:10 Jakarta

Amartya Sen Prize Award Ceremony

Click here to register for this session

Being awarded to: Shuguang Jiang (Shandong University) and Kenneth Mahuni

08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta

PLENARY

Plenary: How to Improve Presidential Elections

Click here to register for this session

Chair: Kaushik Basu (Cornell University)

Speaker: Eric Maskin (Harvard University)

Kaushik Basu Eric Maskin

26
day 4 | MONDAY 5, JULY 2021 wc2021
09:00 to 10:00 EDT | 20:00 to 21:00 Jakarta
INVITED ACADEMIC

Inequality and Structural Transformation: The Labour

Market Effects of Technological Change in Emerging
Economies

Click here to register for this session

Chair: Haroon Bhorat (University of Cape Town)

i
Open ng Remarks: Sen Kunal (WIDER)

PAPER 1

The Country-Specific Task Content of Jobs: Measurement and Predictions

Simone Schotte (UNU-WIDER)

PAPER 2

Changing Occupational Structure and Skills in India: Implications for

Employment and Wage Inequality

Kanika Mahajan (Ashoka University, India)

PAPER 3

The Rise of the Missing Middle in an Emerging Economy: The Case of South
Africa

Amy Thornton (DRPU, University of Cape Town)

27
day 4 | MONDAY 5, JULY 2021 wc2021
09:00 to 10:00 EDT | 20:00 to 21:00 Jakarta
CONTRIBUTED SESSION

History, Gender, and Conflict

Click here to register for this session

PAPER 1

Group Violence, Ethnic Diversity and Citizen Participation: Evidence from

Indonesia

Christophe Muller (Aix-Marseille University) and Marc Vothneck (European Commission)

PAPER 2

On the Agrarian Origins of Civil Conflict in Colombia

Maria Lopez-Uribe (Universidad de los Andes, LSE) and Fabio Sanchez (Uniandes)

PAPER 3

Women's Empowerment and Intimate Partner Violence: Evidence from a

Multidimensional Policy in India

Prashant Poddar (Indian Institute of Management Amritsar) and Somdeep Chatterjee (Indian
Institute of Management Lucknow)

PAPER 4

The Persistent Effects of Private Versus Colonial Rule: Evidence from Java

Priya Mukherjee (University of Wisconsin-Madison) and Thiemo Fetzer (University of Warwick)

28
day 4 | MONDAY 5, JULY 2021 wc2021
10:00 to 11:00 EDT | 21:00 to 22:00 Jakarta
PANEL

The Rise of Identity Politics: Policy, Political Organization

and Values

Click here to register for this session

Chair: Elhanan Helpman (Harvard University)

Speaker: Torsten Persson (IIES)

Elhanan Helpman Torsten Persson

10:00 to 11:00 EDT | 21:00 to 22:00 Jakarta

INVITED ACADEMIC

The Political Economy of State Building in Latin America

Click here to register for this session

Chair: Juan Vargas (Universidad del Rosario)

PAPER 1

Do Ghosts Exist? Clientelistic Networks and Corruption in Public Education

Leopoldo Fergusson (Universidad de los Andes)

29
day 4 | MONDAY 5, JULY 2021 wc2021

PAPER 2

Should I Stay or Should I Go? The Unintended Effects of Enf ranchisement

Maria Micaela Sviatschi (Princeton University)

PAPER 3

Dictatorship, Higher Education and Social Mobility

Luis Martinez (University of Chicago)

10:45 to 12:15 EDT | 21:45 to 23:15 Jakarta

INVITED ACADEMIC

Recent Trends in International Trade and Firm

Organization

Click here to register for this session

Chair: Dalia Marin (TUM School of Management, Munich)

PAPER 1

Plants in Space

Esteban Rossi-Hansberg (Princeton University)

PAPER 2

Moving Parts: When More Restrictive Content Rules Backfire

Thierry Mayer (Science Po, Paris)

PAPER 3

Mis-allocation Within Firms: Internal Finance and International Trade

Dalia Marin (TUM School of Management, Munich)

30
day 4 | MONDAY 5 - tuesday 6, JULY 2021 wc2021

Mon 5 21:00 to 22:00 EDT | Tue 6 08:00 to 09:00 Jakarta

INVITED ACADEMIC

Inequality, Wealth and Financing Recovery

Click here to register for this session

Chair: Ahmed Saeed (Vice President, ADB)

Speakers: Atif Mian (Princeton University), Rema Hanna (Harvard University), Chatib Basri

(University of Indonesia), Ehtisham Ahmad (The London School of Economics Political Science,

Zhejiang University)

Abstract: The COVID-19 pandemic had exposed fiscal and financial vulnerabilities globally.

Many countries are experiencing rising public debt levels and deteriorating public debt

sustainability as fiscal resources are deployed to finance the COVID-19 response. More

resources will be needed to finance the recovery. Yet, the recent literature has noted that

savings have been accumulating to the top percentile in the income or wealth

distribution, what is referred to as the “saving glut of the rich”. This saving glut

phenomenon is also observed in Asia and the Pacific. Moreover, the COVID-19 pandemic

may also have increased saving rates and more savings may be accumulated by the

wealthier segments of societies. This session is intended to deepen the understanding of

this savings glut, how it relates to the inequality and accumulation of household debt, its

implication on policy instruments, and suggest policy options on how to tap these

resources within or across countries as a source of financing for development.

31
day 4 | MONDAY 5 - tuesday 6, JULY 2021 wc2021

Mon 5 22:00 to 23:00 EDT | Tue 6 09:00 to 10:00 Jakarta

PANEL

Panel: Translating Evidence into Action: The Delicate Dance

Between Policy and Knowledge Makers

Click here to register for this session

Chair: Vivi Alatas (Asakreativita)

Speakers: Asim Khwaja (Director, Center for International Development Sumitomo-FASID

Professor of International Finance and Development), Suahasil Nazara (Viceminister, Ministry of

Finance) and Nadiem Makarim (Indonesian Education Minister)

Vivi Alatas

Asim Khwaja
Suahasil Nazara Nadiem Makarim

32
day 5 | TUESDAY 6, JULY 2021 wc2021

03:00 to 04:00 EDT | 14:00 to 15:00 Jakarta

MoF Indonesia

Evidence Based Policies in Indonesia: Behavioural

Economics and Experimental Approach

Click here to register for this session

Chair: Nunung Nuryartono (IPB University)

PAPER 1

A Study on Tax Compliance in Tax Amnesty Policy

Bambang Juanda (IPB University)

PAPER 2

The Behavioural Economic Model of Household Energy Consumption in

Bogor, West Java, Indonesia

Akhmad Fauzi (IPB University)

33
day 5 | TUESDAY 6, JULY 2021 wc2021
08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta
PLENARY WITH PANEL

Plenary with Panel: Rethinking the Rules

Click here to register for this session

Chair: Dani Rodrik (Harvard University)

Speakers: Joseph Stiglitz (Columbia University) and Kaushik Basu (Cornell University)

Dani Rodrik

Joseph Stiglitz Kaushik Basu

34
day 5 | TUESDAY 6, JULY 2021 wc2021
08:00 to 09:00 EDT | 19:00 to 20:00 Jakarta
CONTRIBUTED SESSION

Renewable Energy and Natural Resources

Click here to register for this session

PAPER 1

Extreme Weather Events and Households’ Welfare in the Formal and

Informal Sectors

Majah-Leah V. Ravago (Ateneo de Manila University), Gerald Gracius Pascua (Ateneo de Manila
University), Loubill Dayne Aceron (Ateneo de Manila University), Emil Gozo (Manila Observatory),
Faye Cruz (Manila Observatory) and Gemma Narisma (Manila Observatory)

PAPER 2

Macroeconomic Impacts of Fiscal Incentives for Renewable Energy:

Evidence from Nigeria

Oluwasola Emmanuel Omoju (National Institute for Legislative and Democratic Studies (National
Assembly), Abuja, Nigeria), Emily Edoisa Ikhide (National Institute for Legislative and Democratic
Studies (National Assembly), Abuja, Nigeria), Stephen Kelechi Dimnwobi (Department of
Economics, Nnamdi Azikiwe University, Awka, Nigeria) and Augustina Onogwesha
Ehimare (Department of Economics, University of Nigeria, Nsukka, Nigeria)

PAPER 3

Natural Resources and the Salience of Ethnic Identity

Victoire Girard (NOVAFRICA Nova SBE), Nicolas Berman (AMSE and CEPR) and Mathieu
Couttenier (GATE ENS Lyon and CEPR)

35
day 5 | TUESDAY 6, JULY 2021 wc2021
09:00 to 10:00 EDT | 20:00 to 21:00 Jakarta
INVITED ACADEMIC

Real Freedom For All: Values, Models, Policy, and Narrative

Click here to register for this session

Chair: Wendy Carlin (UCL, CEPR, Santa Fe Institute)

Speakers: Samuel Bowles (Santa Fe Institute and CORE), Zoe Hitzig (Harvard University) and
Philippe Van Parijs (Universite Catholique de Louvain)

09:00 to 10:00 EDT | 20:00 to 21:00 Jakarta

INVITED ACADEMIC

Can Women Farmers Outperform Male Farmers?

Exploring Disabling and Enabling Factors in Africa and

Asia

Click here to register for this session

Bina Agarwal Talip Kilic Kanika Mahajan Chris Udry

Chair: Bina Agarwal (Global Development Institute, University of Manchester, UK)

PAPER 1

G ender Gap in Agricultural Productivity: The Role of Soil Quality in Malawi

Talip Kilic (Development Data Group, The World Ban , Washington DC)
k

36
day 5 | TUESDAY 6, JULY 2021 wc2021

PAPER 2

Back to the Plough: Women Managers and Farm Productivity in India

Kanika Mahajan (Ashoka University, Haryana, India)

PAPER 3

Cultivating in Groups: Farm Productivity and Women’s Group Farms in

India

Bina Agarwal (University of Manchester, UK)

PAPER 4

Learning through Networks: Gender and Agricultural Technology in Ghana

Chris Udry (Northwestern University, USA)

10:00 to 11:00 EDT | 21:00 to 22:00 Jakarta

INVITED ACADEMIC

Automation and the Labor Market

Click here to register for this session

Chair: Joseph Zeira (Hebrew University)

PAPER 1

Automation and Unemployment: Help is on the Way

Hideki Nakamura (Osaka City University)

PAPER 2

Individual Consequences of Occupational Decline

Georg Graetz (Uppsala University)

37
day 5 | TUESDAY 6, JULY 2021 wc2021

PAPER 3

Growth, Unemployment, and Labor-Saving Technical Change

Gregory Casey (Williams College)

11:00 to 12:00 EDT | 22:00 to 23:00 Jakarta

INVITED ACADEMIC

Elite Capture and Corruption

Click here to register for this session

Organized by ThRed (Theoretical Research in Development Economics)

Chair: Garance Genicot (Georgetown University)

PAPER 1

The Design of Organizations and Teams: Shaping Culture and Minimizing

Corruptions

Matt Jackson (Stanford University), Jon Bendor (Stanford GSB), Lukas Bolte (Stanford
Economics), Nicole Immorlica (Microsoft Research)

PAPER 2

Adverse Selection in Political Economy

Nageeb Ali (Penn State), Maximilian Mihm (NYU-Abu Dhabi), Lucas Siga (NYU-Abu Dhabi) Chloe
Tergiman (Penn State)

PAPER 3

Political Reservations as Term-Limits: Evidence from India

Garance Genicot (Georgetown University), Caitlin Brown (University of Manchester) and Nishtha
Kochhar (Georgetown University)

38
day 5 | TUESDAY 6, JULY 2021 wc2021
EDT 12:00 to 13:00 | Jakarta 23:00 to 00:00
CONTRIBUTED SESSION

Conflict and Crime

Click here to register for this session

PAPER 1

Persuasive Propaganda during the 2015 Argentine Ballotage

Ernesto Schargrodsky (Universidad Torcuato Di Tella, CAF and CONICET), Sebastian Galiani
(University of Maryland and NBER) and Rafael Di Tella (Harvard Business School)

PAPER 2

Crime-Related Exposure to Violence and Social Preferences: Experimental

Evidence from Bogotá

Camilo Gómez (Universidad Nacional de Colombia), Francesco Bogliacino (Universidad Nacional

de Colombia) and Gianluca Grimalda (Kiel Institute for the World Economy)

PAPER 3

Gender, Crime and Punishment: Evidence from Women Police Stations in

India

Nishith Prakash (University of Connecticut), Sofia Amaral (Ifo Institute) and Sonia Bhalotra
(University of Warwick)

PAPER 4

Terror and Tourism: The Economic Consequences of Media Coverage

Thiemo Fetzer (University of Warwick), Hannes Mueller (Barcelona GSE) and Tim Besley (LSE)

39
 wc2021

LOCAL TIMES (10:00 EDT TO):

Bali __________________________ 22:00 (GMT +8)

Beijing ______________________ 22:00 (GMT +8)

Bogotá ______________________ 09:00 (GMT -5)

Buenos Aires ________________ 11:00 (GMT -3)

Central Europe ______________ 16:00 (CEST)

Eastern Europe ______________ 17:00 (EEST)

Jakarta ______________________ 21:00 (GMT +7)

London ______________________ 14:00 (GMT)

Manila _______________________ 22:00 (GMT +8)

Mexico City __________________ 08:00 (GMT -6)

Rio de Janeiro _______________ 11:00 (GMT -3)

Sydney ______________________ 01:00 (GMT +11)

Tokyo _______________________ 23:00 (GMT+9)

Washington _________________ 10:00 (GMT -4)