[{"jcr:title":"Insper doctoral students participate in debate with Nobel laureates in economics at event in Germany","cq:tags_0":"area-de-conhecimento:economia","cq:tags_1":"area-de-conhecimento:políticas-públicas","cq:tags_2":"programas:pós-graduação","cq:tags_3":"formato-de-programa:doutorado"},{"richText":"Guilherme Gallego and Stéphanie Shinoki met with several laureates to discuss not only their research topics but also the challenges of being a researcher and the particularities of the Nobel Prize","authorDate":"12/09/2025 17h55","author":"Bruno Toranzo","madeBy":"Por","tag":"formato-de-programa:doutorado","title":"Insper doctoral students participate in debate with Nobel laureates in economics at event in Germany","variant":"imagecolor"},{"jcr:title":"transparente - turquesa - vermelho"},{"themeName":"transparente - turquesa - vermelho"},{"containerType":"containerTwo"},{"jcr:title":"Grid Container Section","layout":"responsiveGrid"},{"text":"Selected to participate in the eighth edition of the Lindau Nobel Meeting in Economic Sciences, held in Lindau, Germany, from August 26 to 30, Guilherme Gallego and Stéphanie Shinoki , students of the  Doctoral Program in Business Economics at Insper , had a unique experience. They met with Nobel Laureates in Economics to discuss not only their research topics but also the challenges of being a researcher and the particularities of the Nobel Prize. Only three Brazilian economists were chosen, joining a select group of global researchers. Since 2004, the meeting has brought together Nobel Laureates in Economics with young researchers to inspire the new generation and enable the exchange of experiences. “I had the opportunity to present my work in the main auditorium. In the audience were Joseph Stiglitz and Simon Johnson, who won the Nobel Prize last year. Both praised my presentation and asked questions, which made the experience even more special, given the relevance of these economists and the admiration I have for their work,” Guilherme highlighted. The student also went for a walk with Stiglitz and had dinner with Johnson. “My research focuses on developing economies, with a focus on Brazil. Although both are based in the United States, their work also addresses issues related to development. Stiglitz was inspired by observing market failures in Kenya in 1969, leading him to study asymmetric information, while Johnson investigates how different institutions and forms of colonization shaped development trajectories. Both were curious about my work, to the point that Stiglitz provided a contact of his at Columbia who researches, like me, informality in the economy,” he adds. Guilherme’s research focuses on macroeconomics and development, particularly the labor market effects in developing economies that replace conditional income distribution programs — such as Bolsa Família and unemployment insurance — with universal basic income. In this system, instead of targeting only a specific portion of the population, universal income reaches everyone without conditions. “Many people whose monthly income is on the threshold of eligibility may prefer informal work, precisely to combine informal wages with conditional income benefits,” he explained. “With a universal system, the fear of losing benefits due to rising income disappears, which tends to increase formal employment, especially in regions with higher informality.” As part of the Lindau Meeting program, Guilherme also had an informal conversation with David Beasley, former Executive Director of the UN World Food Programme, who won the Nobel Peace Prize, during a boat ride on the last day of the event. “We mainly discussed his visits to Brazil,” he says.   Research in Econometrics Stéphanie had lunch with Guido Imbens, who supervised the work of her advisor, Cristine Pinto . Imbens received, along with economist Joshua Angrist, the Nobel Prize in 2021 for their methodological contributions to the analysis of causal relationships in the labor market. “I presented my research in econometrics to him, which is also his area of specialization. In econometrics, statistical methods are used to find causality — the effect of one action or initiative on another, such as a government program on the educational level of children,” she explains. She also dined with James Heckman and Roger B. Myerson and joined Robert Aumann and Joshua Angrist in an Open Exchange, a private dialogue with laureates. “With Imbens, beyond discussing my research, we talked about academic careers, including how the publication process works. With Robert, the conversation was very informal and turned into a brainstorming about what it means to be rational in an economic context. Finally, with Heckman — who, like Imbens, specializes in econometrics — the discussion once again focused on my research and on how econometrics connects with economics, among other subjects,” she recounted."},{"jcr:title":"Guilherme Gallego walks with Joseph Stiglitz, 2001 Nobel Prize in Economics","fileName":"Caminhada com Joseph Stiglitz .jpeg","alt":"Guilherme Gallego walks with Joseph Stiglitz"},{"text":"Humanizing the Nobel Laureates Stéphanie said she never imagined she would meet the economists whose renowned theories appear in textbooks, let alone that they would take an interest in her work. “What humanized them was realizing that they are ordinary people, willing to listen and engage in genuine conversation. I’ll keep in touch with them by email,” she observed. Guilherme added that their interactions were far from formal: “Quite the opposite — they shared their personal journeys, expectations, and early struggles as researchers, and even the behind-the-scenes stories of the Nobel Prize that few people know about,” he said. Both young researchers expressed gratitude to Insper for the academic training they received. “Insper’s education is on par with that of international institutions. This was clear at the event we attended. I’m deeply grateful to be part of this program and especially to my advisor, Marcelo Santos, for guiding me in my research journey,” Guilherme said. Stéphanie added: “New PhD students at Insper don’t realize, especially at the start, how close they already are to the world’s top academic centers. Opportunities like the one we had demonstrate Insper’s strong global integration.” Career Plans For the future, after finishing his doctoral program at Insper, Guilherme intends to pursue an academic career, applying even to European universities. “I seek the position of university professor at centers of excellence conducting cutting-edge research, such as some public and private universities in Brazil, as well as international institutions with the same profile,” he highlights. Stéphanie, on the other hand, does not intend to pursue an academic career, aiming to work in the financial market or data science with activities involving econometrics."},{"jcr:title":"Stéphanie Shinoki with Robert Aumann, 2005 Nobel Prize in Economics","fileName":"Robert Aumann e Stéphanie Shinoki.jpg","alt":"Stéphanie Shinoki com Robert Aumann"}]