March 16th 2015

José-Luis Peydró and Marta Reynal-Querol, Professors of the Department of Economics and Business of the UPF and ICREA Researchers, have been awarded a Consolidator Grant from the European Research Council (ERC) to carry out the projects entitled, respectively, "Debt and Persistence of Financial Shocks" and "Historical Roots of Conflict and Development: From Prehistory to the Colonization Experience".

The project of José-Luis Peydró "Debt and Persistence of Financial Shocks" is based on the fact that financial crises involve negative periods, both with regard to production and employment, as compared to normal economic recessions, and a considerable length of time must pass in order to recover the economic levels of prior to the crisis. The researcher questions why the effects of the crisis are so persistent in time and his main goal is to provide evidence of causality, quantification and analysis of public policies related to this issue and the interaction between the systemic risk, the crisis, macroeconomics and the new macro prudential policies.

Marta Reynal-Querol will form a team of researchers to study the historical roots of conflicts and development in her project "Historical Roots of Conflict and Development: From Prehistory to the Colonization Experience". The researcher intends to study the effect of the history of conflicts and economic development with two moments in history, using administrative data of the first colonists in Latin America and focusing on the study of human capital in economic development and conflict. In a second part of the project, the researcher intends to go further back in time to understand how very old conflicts influence current conflicts. In this phase of the project, regional archaeological evidence will be used to analyze the dynamics of conflict in Latin America in the long term.

Here you will find a list of the ERC grants won by faculty of the DEE.