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How Do Expectations About the Macroeconomy Affect Personal Expectations and Behavior?
Roth, Christopher - 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 likelihood...
Persistent link: https://www.econbiz.de/10012911043
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Can Integrity Replace Institutions? Theory and Evidence
Aharonovitz, Gilad D.; Skuza, Nathan; Fahs, Faysal - CESifo - 2009
Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show … that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of …) trust, or (3) integrity, foster economic growth. We construct data of economic performance of social groups in Lebanon …
Persistent link: https://www.econbiz.de/10005013043
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An Empirical Analysis of the Dynamics of the Welfare State : The Case of Benefit Morale
Halla, Martin - 2009
Does the supply of a welfare state create its own demand? Many economic scholars studying welfare arrangements refer to Say's law and insinuate a self-destructive welfare state. However, little is known about the empirical validity of these assumptions and hypotheses. We study the dynamic effect...
Persistent link: https://www.econbiz.de/10013160043
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The Promises and Pitfalls of Robo-Advising
D'Acunto, Francesco - 2018
We study a robo-advising portfolio optimizer that constructs tailored strategies based on in- vestors' holdings and preferences. Adopters are similar to non-adopters in terms of demographics, but have more assets under management, trade more, and have higher risk-adjusted performance. The...
Persistent link: https://www.econbiz.de/10012921212
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Lift and Shift : The Effect of Fundraising Interventions in Charity Space and Time
Scharf, Kimberley A. - 2017
Fundraising interventions may lift donations and/or shift their composition and timing, making it important to study their effect across charity space and time. We find that major fundraising appeals lift total donations, but surprisingly shift donations to other charities across time. To...
Persistent link: https://www.econbiz.de/10012943156
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Does Inequality Matter for the Consumption-Wealth Channel? Empirical Evidence
Arrondel, Luc - 2017
This paper studies the heterogeneity of the marginal propensity to consume out of wealth based on French household surveys. This heterogeneity is driven by differences in both wealth composition and wealth levels. We find a decreasing marginal propensity to consume out of wealth across the...
Persistent link: https://www.econbiz.de/10012944978
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The Consumption Effects of the 2007-2008 Financial Crisis : Evidence from Household-Level Data
Jensen, Thais - 2015
Did the financial crisis spread from distressed banks to households through a contraction of the credit supply? We study this question with a dataset that contains observations on all accounts in Danish banks as well as comprehensive information about individual account holders and banks. We...
Persistent link: https://www.econbiz.de/10013010472
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Social Networks and Housing Markets
Bailey, Michael - 2016
We document that the recent house price experiences within an individual's social network affect her perceptions of the attractiveness of property investments, and through this channel have large effects on her housing market activity. Our data combine anonymized social network information from...
Persistent link: https://www.econbiz.de/10012988967
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Lost in Translation : What Do Engel Curves Tell Us About the Cost of Living?
Almås, Ingvild - 2018
The Hamilton method for estimating CPI bias is simple, intuitive, and has been widely adopted. We show that the method confiates CPI bias with variation in cost-of-living across income levels. Assuming a single price index across the income distribution is inconsistent with the downward sloping...
Persistent link: https://www.econbiz.de/10012922658
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The Nature of Risk Preferences : Evidence from Insurance Choices
Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; … - 2021
We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates 'standard' risk aversion (diminishing marginal utility for wealth) and probability distortions. We find that probability distortions - characterized by substantial overweighting of small...
Persistent link: https://www.econbiz.de/10013315858