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Marco Pagano visited IFN

2019-09-27

Marco Pagano visited IFN.

The Italian economist Marco Pagano, University of Naples Federico II, visited the Research Institute of Industrial Economics this week. His area of expertise is Labor and Finance, an area that is central to IFN’s research program Globalization and Corporate Restructuring.

Marco Pagano is currently working with IFN researchers Joacim Tåg and Martin Olsson on a project studying corporate ownership and its impact on employees as well as talent allocation within and across companies. The project focuses on these issues in a Swedish context. Marco Pagano sees two main benefits of collaborating with IFN researchers.

– First, the high scientific quality of IFN researchers, in terms of ability to come up with interesting and novel research questions, finding new ways to take them to the data, and extremely good, hands-on knowledge of the Swedish worker-level and firm-level data. Second, the fantastic quality of the microeconomic data available at IFN, which are as granular and detailed as they can possibly be in economic research nowadays. Taken together, these two factors make working with IFN researchers such as Joacim and Martin an unparalleled opportunity for someone with my research interests.

Collaborating with others is essential for IFN as a research institute. As part of our extensive program of guest researchers visiting IFN, Marco Pagano held a seminar based on his paper ”Talent Discovery, Layoff Risk and Unemployment Insurance”.

His main area of expertise is Labor and Finance and he sees two main challenges for research within this field.

– First, empirical research in labor and finance typically requires accessing, merging and managing very large firm-level and worker-level data sets, and this creates the risk of "drowning in the data", that is, losing sight of the interesting research questions. That is, the simple truth that lasting empirical contributions are guided by sound, exciting theories may be obscured by the sheer magnitude of the effort required to gather and organize the large data sets increasingly used in this area, says Marco Pagano.

– A second challenge is that by definition "labor and finance" sits at the interface between two different research areas, and as such it requires being able to communicate convincingly and effectively to two very different audiences, namely, labor economists and finance scholars. This is not easy, because these two research communities have been traditionally quite separate, even physically (finance being typically taught and researched in business schools and labor economics in economics departments). As a result, they have developed different objectives, standards and even (to some extent) different jargons. But by the same token, being able to attack research questions of interest to both audiences can break new ground and appeal to a larger number of researchers. Hence, not only the challenge but also the "prize to be won" is greater in this area!

 

 

 

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