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Cutting out the Middleman: Crowdinvesting, Efficiency, and Inequality

Grüner, Hans Peter; Siemroth, Christoph - C.E.P.R. Discussion Papers - 2015

capital only if wealth inequality prevents an efficient allocation of capital by consumers, but financing via intermediaries …

Persistent link: https://www.econbiz.de/10011201361

Migration, Congestion Externalities, and the Evaluation of Spatial Investments

Dinkelman, Taryn; Schulhofer-Wohl, Sam - C.E.P.R. Discussion Papers - 2012

Evaluations of new infrastructure in developing countries typically focus on direct effects, such as the impact of an electrifification program on household energy use. But if new infrastructure induces people to move into an area, other local publicly provided goods may become congested,...

Persistent link: https://www.econbiz.de/10011083273

Mitigating long-run health effects of drought: Evidence from South Africa

Dinkelman, Taryn - C.E.P.R. Discussion Papers - 2014

Drought is Africa’s primary natural disaster and a pervasive source of income risk for poor households. This paper documents the long-run health effects of early life exposure to drought and investigates an important source of heterogeneity in these effects. Combining birth cohort variation in...

Persistent link: https://www.econbiz.de/10011083817

Cardiovascular Consequences of Unfair Pay

Falk, Armin; Menrath, Ingo; Siegrist, Johannes; Verde, … - C.E.P.R. Discussion Papers - 2011

This paper investigates physiological responses to perceptions of unfair pay. In a simple principal agent experiment agents produce revenue by working on a tedious task. Principals decide how this revenue is allocated between themselves and their agents. In this environment unfairness can arise...

Persistent link: https://www.econbiz.de/10009144731

(Measured) Profit is Not Welfare: Evidence from an Experiment on Bundling Microcredit and Insurance

Banerjee, Abhijit; Duflo, Esther; Hornbeck, Richard - C.E.P.R. Discussion Papers - 2014

We investigate the puzzle of microfinance: that loans generate large measured returns for businesses, yet loan take-up is low and the businesses often close. We analyze a randomized trial that bundled microfinance loans with a cheap health insurance policy. Requiring clients to purchase...

Persistent link: https://www.econbiz.de/10011084607

Insurance and Opportunities: The Welfare Implications of Rising Wage Dispersion

Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2005

, greater wage inequality presents opportunities to increase aggregate productivity by concentrating market work among more …

Persistent link: https://www.econbiz.de/10005123728

The Cross-Sectional Implications of Rising Wage Inequality in the United States

Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2004

This Paper explores the implications of the recent sharp rise in US wage inequality for welfare and the cross … than wage dispersion, due to a rise in the correlation between wages and hours worked. Over the same period, inequality in … hours worked remained roughly constant, and consumption inequality increased only modestly. Using data from the PSID, we …

Persistent link: https://www.econbiz.de/10005656181

Inflation as a Redistribution Shock: Effects on Aggregates and Welfare

Doepke, Matthias; Schneider, Martin - C.E.P.R. Discussion Papers - 2006

Episodes of unanticipated inflation reduce the real value of nominal claims and thus redistribute wealth from lenders to borrowers. In this study, we consider redistribution as a channel for aggregate and welfare effects of inflation. We model an inflation episode as an unanticipated shock to...

Persistent link: https://www.econbiz.de/10005114251

Real Effects of Inflation Through the Redistribution of Nominal Wealth

Doepke, Matthias; Schneider, Martin - C.E.P.R. Discussion Papers - 2005

This paper provides a quantitative assessment of the effects of inflation through changes in the value of nominal assets. We document nominal positions in the US across sectors as well as different groups of households, and estimate the redistribution brought about by a moderate inflation...

Persistent link: https://www.econbiz.de/10005789015

Appropriating the Commons - A Theoretical Explanation

Falk, Armin; Fehr, Ernst; Fischbacher, Urs - C.E.P.R. Discussion Papers - 2001

In this Paper we show that a simple model of fairness preferences explains major experimental regularities of common pool resource (CPR) experiments. The evidence indicates that in standard CPR games without communication and without sanctioning possibilities inefficient excess appropriation is...

Persistent link: https://www.econbiz.de/10005123667