ISEG 2S SEMINARS | Forthcoming Seminars


	FORTHCOMING SEMINARS >Tax Holidays and Foreign Investment Friday, October 19th \| 11:30 – 13:00 \| Delta Room \| Quelhas 6 Building Jointly with DE Seminars >Wealth-to-Income Ratio, Housing Returns and Systematic Risk Monday, October 22nd \| 11:30 – 13:00 \| ANF1 \| Quelhas 6 Building

	FRIDAY, OCTOBER 19th Presentation: Tax Holidays and Foreign Investment Jointly with DE Seminars Presenter: José Mata Nova School of Business and Economics Abstract Under tax holidays, foreign firms are taxed at rates that are lower than the usual, in the belief that these temporary benefits may entice these firms to remain in the country. We evaluate the impact of terminating or reducing these tax benefits upon the exit decision by U.S. firms that were established in Puerto Rico. Our results indicate that whenever benefits are reduced or terminated the probability of exit increases in a non-trivial manner.

	MONDAY, OCTOBER 22nd Presentation: Wealth-to-Income Ratio, Housing Returns and Systematic Risk Presenter: Ricardo Sousa University of Minho and London School of Economics and Political Sciences Abstract We show that the residuals of the trend relationship among asset wealth and labour income predict housing returns. In particular: (i) when housing asset are complements of financial assets, investors demand a higher housing risk premium if they are hit by a shock that generates a fall in the wealth-to-income ratio; (ii) when housing assets are substitutes of financial assets, investors demand a lower housing return if they face a fall in the wealth-to-income ratio. Finally, we show that the transmission of wealth shocks to housing markets is amplified at periods of systemic crises.

	MEETING THE SPEAKERS The speakers will be at ISEG during the afternoon after the talk, Professors and researchers interested in meeting the speaker should check the available meeting slots with the organizing team .

	MAILING LIST To join the ISEG 2S Seminar Mailing List and receive regular information contact Filomena Ferreira. p.s. If you come to the seminars by car, assure your entrance to the park.