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Ph.D. Alessandra Pelloni

Gastprofessorin

Adresse
Boltzmannstr. 20
Raum 322

Alessandra Pelloni got her Ph.D in Economics at the European University Institute and her Master of Science in Economics at the London School of Economics. She is currently Full Professor of Economics at the University of Rome II. She has worked in the past at the University of Warwick and at the University of Manchester. 

Lehrangebot während des Sommersemesters 2022:

B.Sc. in VWL:
Theoretical Economics: Economic Justice (10102001 + 10102026)

The course explores the relation between economic rationality and justice and the role

that the State and the market could have in achieving equity as well as as efficiency.The course is divided into three parts.

The first part offers an introduction to some basic principles and concepts in moral and political philosophy that are particularly relevant for economics and public policy. This includes a concise survey of alternative perspectives going from utilitarianism and kantianism to contemporary theories of justice, such as those of Robert Nozick, John Rawls, Amartya Sen etc.

Against this background the second part of the course asks two questions: are the existing institutions and social structures of capitalism just? Are different kinds of institutions and social structures alternative to capitalism feasible and/or desirable?

Recent evidence provided by experimental economics as well as survey data on subjective well being show that agents' economic choices cannot be explained by assuming people are purely self-interested. The third part will then focus on the role of social norms and prevailing cultural values in explaining the economic behavior of agents.

M.Sc. in Economics:
M.Sc. in Public Economics:

Growth Theory  (10143508 + 10143526)

The main goal of the course is to introduce the basic tools and fundamental ideas in growth theory. First, we present in some detail two basic approaches to the solution of dynamic problems in economics: optimal control and dynamic programming. We then move to the neoclassical model of growth: the Ramsey Cass Koopmans model. This is one of the two currently dominating frameworks of analysis in the study of macroeconomic dynamics and economic growth. We consider in detail the assumptions needed for the results of existence, uniqueness and stability of general market equilibrium to obtain and for the validity of the two welfare theorems in this model. We then present two basic extensions of the Ramsey model in which technological progress is due to R&D leading to an expansion in the number of different goods produced or to an improvement in their quality and show how endogenizing technical progress requires giving up the assumption of convexity of the aggregate production set so that the market equilibrium cannot be efficient. We then move to study skill-biased technical change and present a model where the path of technical progress takes is affected by the relative supply of factors of production. We then apply the model to explain the increase in inequality experienced by advanced economies in the last decades. Finally we introduce the basic overlapping generations model, the second core model in macroeconomic dynamics, in which agents have a finite horizon in making choices and show that the market equilibrium in this model may again be inefficient.

Syllabus

1) Optimal Control
2) Dynamic Programming
3) The Neoclassical Growth Model.( Ramsey-Kass_Koopmans) 4) A Horizontal Innovation Model (Romer 1990 ).
5) A Vertical Innovation Model ( Grossman-Helpman 1991 ). 6) Skill-Biased Technological Change ( Acemoglu 2002).
7) The Basic OLG Model ( Diamond 1965)

She has mainly published in the field of macroeconomics and public economics. Her research has concentrated on  the relationship between growth and business cycles and on the optimal taxation of capital income in growth models. Her works have appeared in the Economic Journal, the Journal of Public Economics, Oxford Economic Papers, Economic Inquiry, Economics Letters and others. She is associate Editor of the Journal of Economic Asymmetries. Her current projects deal with the relationship between risk aversion and growth, with the impact of the covid pandemic on attitudes towards risk and inequality  and with the optimal taxation of superstar workers.

Research Seminar in Economics
Steuer- und Sozialpolitik bei wachsender Ungleichheit
HBS