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Living Up to Expectations : Central Bank Credibility, the Effectiveness of Forward Guidance, and Inflation Dynamics Post-Global Financial Crisis
Cole, Stephen J.; Martínez-García, Enrique; Sims, Eric R. - National Bureau of Economic Research - 2023
and affects the overall effectiveness of forward guidance. We find that the central banks of the U.S., the U.K., Germany …
Persistent link: https://www.econbiz.de/10014421202
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Temporal Instability of Risk Preference among the Poor : Evidence from Payday Cycles
Akesaka, Mika; Eibich, Peter; Hanaoka, Chie; Shigeoka, … - National Bureau of Economic Research - 2021
The poor live paycheck to paycheck and are repeatedly exposed to strong cyclical income fluctuations. We investigate whether such income fluctuations affect risk preference among the poor. If risk preference temporarily changes around payday, optimal decisions made before payday may no longer be...
Persistent link: https://www.econbiz.de/10012533333