Abstract: This talk will survey recent advances in understanding Chatterjee’s graph correlation coefficient. I will introduce, for the first time, a comprehensive theoretical framework for statistical inference based on this coefficient. The framework involves results on asymptotic normality, bias correction, and the (in)consistency of bootstrap methods.

Another title: Necessary and sufficient conditions for convergence in distribution of quantile and P-P processes in L1(0,1), (joint with Tetsuya Kaji, Chicago Booth)
https://arxiv.org/abs/2502.01254

Abstract: We present a dynamic model of the labor market, where workers may commit crimes and employers can gather information about workers’ criminal history from a publicly available record and set wages accordingly. We characterize the socially optimal duration of the record, which balances two conflicting objectives: deter inefficient crimes for workers without a record and keep the share of the population with a record low to reduce recidivism. We also show that, when the social harm from crime is neither too high nor too low, it is optimal to impose finite nonmonetary sanctions followed by a finite criminal-record period.

参加をされる予定の方は9月18日(木) 12:00 までに西村 noriko(at)kier.kyoto-u.ac.jp 宛てにご連絡ください。
またその際、ランチ（仕出し屋さんのお弁当です）とディナーに参加されるかもお伝えください。

Abstract: This study examines how college capacity constraints affect private tutoring demand. Exploiting the quasi-experimental variation of the 1995 deregulation that lifted enrollment caps on local colleges while maintaining Seoul college restrictions, we build a two-sided equilibrium model where colleges choose seat allocations and students compete through tutoring investment. Counterfactual simulations suggest nationwide deregulation would decrease overall tutoring rates by 50%, from 38.6% to 20.0%.

Abstract: This paper develops an analytical framework for heterogeneous agent models with household-level heterogeneity in labor productivity and wealth returns, accommodating both growth and business cycle dynamics. I establish the existence of moment-recursive competitive equilibrium (MRCE), where aggregate dynamics depend only on aggregate capital and wealth-idiosyncratic state covariances. The framework yields three key insights: (i) distributional covariances create state-dependent aggregate dynamics through novel channels; (ii) idiosyncratic return risks are priced via their wealth covariance; (iii) equilibrium outcomes are invariant to individual beliefs about aggregates, eliminating expectation formation concerns. This framework enables unified analysis of growth, business cycles, inequality dynamics, and their interactions.