Research Seminars in Economics at UAM

The research seminars in economics is an initiative at Universidad Autónoma de Madrid, Spain. 

This series is hosted during term time by the Department of Economic Analysis: Economic Theory and Economic History.

It consists of presentations of leading national and international scholars and it is intended to be a discussion forum focused on current substantive issues and methods in any field of economics.

Upcoming seminars 

22/10/2025 at 1 pm 

Martin Gonzalez Eiras 

(Bologna)

"Why Might the Old Want to Honor Sovereign Debt?"

Abstract: Survey evidence indicates that, during periods of high default risk, older individuals tend to favor sovereign debt repayment, as observed in Argentina, Iceland, and Greece. I model optimal risk-sharing between a country and foreign lenders to reflect these life-cycle preferences. Efficient allocations under political constraints deter default by promising higher future consumption to the young. Thus, although the elderly face lower direct costs from financial exclusion, they may be most affected by default. The model is consistent with the observed weak correlation between default and output. Calibration shows that even with low risk aversion and no output losses, the threat of financial autarky can sustain debt of about 50% of GDP.

How to attend the seminar:

The seminar will be on-site in room Aula 1-301 and 

also streamed. 

To receive the seminar invitation with the streaming link, please send an email to teoriahistoriauam@gmail.com

Organisers: Jorge García Hombrados, Eugenio Zucchelli and Damian Pierri