Marco Cozzi

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I show that shares currently traded on U.S. stock markets can be used to hedge political uncertainty. Focusing on the 2000 U.S. presidential election, I construct two “presidential portfolios” composed of selected stocks anticipated to fare differently under a Bush versus a Gore presidency. To construct these portfolios I use data on campaign contributions(More)
Proximity services are a particular class of location-based services (LBS) in which a subscriber is alerted when other participants (called buddies) are nearby. Existing works in the field of privacy preservation in LBS propose techniques specifically designed for this type of service. The objective of this demo is to present the Pcube system that makes it(More)
Starting in the 70’s, wage inequality and the number of hours worked by employed US prime age male workers have both increased. We argue that these two facts are related. We use a labor market model with on the job search where by working longer hours individuals acquire greater skills. Since job candidates are ranked by productivity, greater skills not(More)
This paper considers the macroeconomic implications of a set of empirical studies finding a high degree of dispersion in preference heterogeneity. It develops a model with both uninsurable idiosyncratic income risk and risk aversion heterogeneity to quantify their effects on wealth inequality. The results show that with the available estimates of the risk(More)
We show that existing stocks that are currently traded in the U.S. stock market can be used to hedge political uncertainty. Focusing on the 2000 U.S. Presidential election, we construct two “presidential portfolios” composed of selected stocks anticipated to fare differently under a Bush versus a Gore presidency. To construct these portfolios we use data on(More)
We study the equilibrium welfare effects of introducing mandated severance payments in a labor market with costly mobility, where self-insurance through a riskless asset is the only way to smooth fluctuations in labor income due to unemployment shocks. The framework allows for wage flexibility at the level of the individual firm-worker match. Wages vary(More)
In multiparty parliamentary democracies government coalitions frequently reshuffle the allocation of cabinet posts, and cabinets terminate before the end of the legislature. I interpret these events as equilibrium outcomes of a strategic interaction among political parties. Parties’ incentives to terminate the government and seek early elections depend on(More)
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