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Manpower Constraints and Corporate Policies

D'Acunto, Francesco; Weber, Michael; Yang, Shuyao - 2020

Manpower constraints are the pervasive lack of specialized high- and low-skill workers, irrespective of the wage firms …

Persistent link: https://www.econbiz.de/10012425604

Finance, Talent Allocation, and Growth

D'Acunto, Francesco; Frésard, Laurent - 2018

The growing finance wage premium is related to a modest net reallocation of skilled workers from non-finance sectors … into finance in a broad sample of 24 countries over 35 years. The reallocation is higher when the finance wage premium … workers. Yet, the growing finance wage premium is unrelated to sectoral or aggregate growth, to countries’ innovative capacity …

Persistent link: https://www.econbiz.de/10011815776

Manpower Constraints and Corporate Policies

D'Acunto, Francesco; Weber, Michael; Yang, Shuyao - 2021

Manpower constraints are the pervasive lack of specialized high- and low-skill workers, irrespective of the wage firms …

Persistent link: https://www.econbiz.de/10013314951

The Effect of Unconventional Fiscal Policy on Consumption Expenditure

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2016

Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We exploit a unique natural experiment for an empirical test of the effectiveness of...

Persistent link: https://www.econbiz.de/10011555501

How Do Expectations About the Macroeconomy Affect Personal Expectations and Behavior?

Roth, Christopher; Wohlfart, Johannes - 2018

Using a representative online panel from the US, we examine how individuals’ macroeconomic expectations causally affect their personal economic prospects and their behavior. To exogenously vary respondents’ expectations we provide them with different professional forecasts about the...

Persistent link: https://www.econbiz.de/10011887414

Unconventional Fiscal Policy, Inflation Expectations, and Consumption Expenditure

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2016

Unconventional fiscal policies incentivize households to accelerate consumption by generating future consumer price ination, and offer an alternative to unconventional monetary policy (Correia et al. (2013)). We use a natural experiment to study the causal effect of unconventional fiscal...

Persistent link: https://www.econbiz.de/10011451411

Risk Exposure and Acquisition of Macroeconomic Information

Roth, Christopher; Settele, Sonja; Wohlfart, Johannes - 2020

We conduct an experiment with a representative sample from the US to study households' demand for macroeconomic information. Respondents who learn of a higher personal exposure to unemployment risk during recessions increase their demand for an expert forecast about the likelihood of a...

Persistent link: https://www.econbiz.de/10012314921

Uncertainty and Information Acquisition: Evidence from Firms and Households

Mikosch, Heiner; Roth, Christopher; Sarferaz, Samad; … - 2021

We leverage the small open economy Switzerland as a testing ground for basic premises of macroeconomic models of endogenous information acquisition, using tailored surveys of firms and households. First, we show that firms perceive a greater exposure to exchange rate movements than households,...

Persistent link: https://www.econbiz.de/10012799762

The Effects of Monetary Policy: Theory with Measured Expectations

Roth, Christopher; Wiederholt, Mirko; Wohlfart, Johannes - 2023

We study the effects of monetary policy on aggregate consumption combining a heterogeneous agent model with measured expectations under different policy counterfactuals. We express the consumption of non-hand-to-mouth households as a function of expectations only and elicit all expectations...

Persistent link: https://www.econbiz.de/10014290126

Unconventional Fiscal Policy

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2018

Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We provide preliminary evidence for the effectiveness of such policies using changes in...

Persistent link: https://www.econbiz.de/10011794201