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From partisanship to preference : how identity shapes dependence aversion

Freundt, Jana; Herz, Holger - 2024

We study how individuals’ willingness to delegate choice is affected by heterogeneity in identity between the delegee and the delegate. While it is straightforward that such heterogeneity can affect delegation for instrumental reasons, we show experimentally that divergent identity also causes...

Persistent link: https://www.econbiz.de/10015051753

Entrepreneurship, economic risks, and risk insurance in the welfare state : results with OECD data 1978-93

Ilmakunnas, Pekka; Kanniainen, Vesa - 2000

labor risk is found to be statistically significant and detrimental to entrepreneurship. The crowding-out effect of public …

Persistent link: https://www.econbiz.de/10009781637

Does self-employment pay? : the role of unemployment and earnings risk

Garcia-Cabo, Joaquin; Madera, Rocio - 2024

This paper documents the role of unemployment and earnings risk in reconciling evidence in payoff differentials between … the role of lower unemployment risk in self-employment. We decompose earnings risk dynamics by estimating a life … throughout their life-cycle. Our results challenge the conventional view that self-employment necessarily entails higher risk and …

Persistent link: https://www.econbiz.de/10014543846

Financial constraints and moral hazard : the case of franchising

Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine - 2013

Financial constraints are an important impediment to the growth of small businesses. We study theoretically and empirically how the financial constraints of agents affect their decisions to exert effort, and, hence the organizational decisions and growth of principals, in the context of...

Persistent link: https://www.econbiz.de/10010210716

Fiscal policy and households' inflation expectations : evidence from a randomized control trial

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2021

Rising government debt levels around the world are raising the specter that authorities might seek to inflate away the debt. In theoretical settings where fiscal policy "dominates"monetary policy, higher debt without offsetting changes in primary surpluses should lead households to anticipate...

Persistent link: https://www.econbiz.de/10012437870

Inside the mind of a stock market crash

Giglio, Stefano; Maggiori, Matteo; Stroebel, Johannes; … - 2020 - First draft: April 4th 2020, this draft: May 21, 2020

We analyze how investor expectations about economic growth and stock returns changed during the February-March 2020 stock market crash induced by the COVID-19 pandemic, as well as during the subsequent partial stock market recovery. We surveyed retail investors who are clients of Vanguard at...

Persistent link: https://www.econbiz.de/10012224226

Does policy communication during COVID work?

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

Using a large-scale survey of U.S. households during the Covid-19 pandemic, we study how new information about fiscal and monetary policy responses to the crisis affects households' expectations. We provide random subsets of participants in the Nielsen Homescan panel with different combinations...

Persistent link: https://www.econbiz.de/10012231514

How did U.S. consumers use their stimulus payments?

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

Using a large-scale survey of U.S. consumers, we study how the large one-time transfers to individuals from the CARES Act affected their consumption, saving and labor-supply decisions. Most respondents report that they primarily saved or paid down debts with their transfers, with only about 15...

Persistent link: https://www.econbiz.de/10012263377

What do lost wallets tell us about survey measures of social capital?

Tannenbaum, David; Cohn, Alain; Zünd, Christian Lukas; … - 2020

We validate survey measures of social capital with a new data set that examines whether citizens report a lost wallet to its owner. Using data from more than 17,000 lost wallets across 40 countries, we find that survey measures of social capital - especially questions concerning generalized...

Persistent link: https://www.econbiz.de/10012252455

Five facts about beliefs and portfolios

Giglio, Stefano; Maggiori, Matteo; Stroebel, Johannes; … - 2019

We administer a newly-designed survey to a large panel of retail investors who have substantial wealth invested in financial markets. The survey elicits beliefs that are crucial for macroeconomics and finance, and matches respondents with administrative data on their portfolio composition and...

Persistent link: https://www.econbiz.de/10012024521

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