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Gambling to Leapfrog in Status?
Friehe, Tim; Mechtel, Mario - CESifo - 2013
This paper shows that households with positional concerns and convex status utility use gambling to attempt leapfrogging in the social hierarchy. We test this theoretical prediction relying on household data that is representative for Germany, proxying the status orientation of households by...
Persistent link: https://www.econbiz.de/10010634081
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MPC Heterogeneity and Household Balance Sheets
Fagereng, Andreas - 2019
We use sizeable lottery prizes in Norwegian administrative panel data to characterize households' marginal propensities to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and how lottery prizes are spent and saved over time. We...
Persistent link: https://www.econbiz.de/10012898430
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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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Are Consumers Planning Consumption According to an Euler Equation?
Dräger, Lena - 2017
Evaluating a new survey dataset of German consumers, we test whether individual consumption plans are formed according to an Euler equation derived from consumption life-cycle models. Estimating several consumption Euler equations, the results are mostly in line with the theory: We find evidence...
Persistent link: https://www.econbiz.de/10012964377
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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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Gambling to Leapfrog in Status?
Friehe, Tim - 2013
This paper shows that households with positional concerns and convex status utility use gambling to attempt leapfrogging in the social hierarchy. We test this theoretical prediction relying on household data that is representative for Germany, proxying the status orientation of households by...
Persistent link: https://www.econbiz.de/10013083874
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Growth, Expectations, and Tariffs
Honkapohja, Seppo; Turunen-Red, Arja H.; Woodland, Alan D. - CESifo - 2011
by growth expectations. Adaptive learning dynamics determine country-specific short run transition paths. Countries … differ in basic structural parameters and may impose tariffs on imports of capital goods. Numerical experiments illustrate … adjustment dynamics that follow the use of tariffs. We show that countries that limit trade in capital goods can experience …
Persistent link: https://www.econbiz.de/10009020102
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Centralised Labour Market Negotiations
Müller, Julia; Upmann, Thorsten - CESifo - 2013
This paper contributes to the analysis of central vs. decentral (firm-level) labour market negotiations. We argue that during negotiations on a central scale employers and employees plausibly take output market effects into account, while they behave competitively during firm-level negotiations....
Persistent link: https://www.econbiz.de/10010711144
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Exit and Power in General Equilibrium
Gersbach, Hans; Haller, Hans - CESifo - 2008
We integrate individual power in groups into general equilibrium models. The relationship between group formation, resource allocation, and the power of specific individuals or particular sociological groups is investigated. We introduce, via an illustrative example, three appealing concepts of...
Persistent link: https://www.econbiz.de/10005766012
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French CEO Compensations: What is the Cost of a Mandatory Upper Limit?
Llense, Fabienne - CESifo - 2008
In the middle of the nineties, the sharp increase in globalisation and the last privatization wave have promoted the shaping of a market for executives in France. Characteristics of this market are estimated for France and a competitive model is simulated in order to assess to what extend such a...
Persistent link: https://www.econbiz.de/10005405777