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Committee decision-making under the threat of leaks
Fehrler, Sebastian; Hahn, Volker - 2020
Leaks are pervasive in politics. Hence, many committees that nominally operate under secrecy de facto operate under the threat that information might be passed on to outsiders. We study theoretically and experimentally how this possibility affects the behavior of committee members and the...
Persistent link: https://www.econbiz.de/10012295187
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Labor turnover costs, workers' heterogeneity, and optimal monetary policy
Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2009
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms' counterpart is given by currently employed workers. Our model captures well the salient features of European labor...
Persistent link: https://www.econbiz.de/10003879356
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Does policy communication during COVID-19 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/10012237791
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Narrow bracketing and dominated choices
Rabin, Matthew (contributor); Weizsäcker, Georg (contributor) - 2007
. The theory is accompanied by both a real-stakes laboratory experiment and a large-sample survey from the general U ….S. population. Replicating Tversky and Kahneman's original experiment where decisionmakers with prototypical prospect-theory … close to prospect-theory value functions and that about 83% of people bracket narrowly. None of these results varies …
Persistent link: https://www.econbiz.de/10003561617
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Do emotions improve labor market outcomes?
Goette, Lorenz (contributor); Huffman, David (contributor) - 2005
Traditionally, models of economic decision-making assume that individuals are rational and emotionless. This chapter argues that the neglect of emotion in economic models explains their inability to predict important aspects of the labor market. We focus on one example: the scarcity of nominal...
Persistent link: https://www.econbiz.de/10003227217
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Mexican immigrants, the labor market and the current population survey : seasonality effects, framing effects, and sensitivity of results
Lozano, Fernando (contributor); Sorensen, Todd (contributor) - 2008
In this paper we compare estimates of immigrants' labor supply assimilation profiles using the Current Population Survey Annual Demographic Files (March ADS) and the Current Population Survey Outgoing Rotation Groups (ORGs). We use a measure that is seemingly consistent across both surveys:...
Persistent link: https://www.econbiz.de/10003652678
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Information and the formation of inflation expectations by firms : evidence from a survey of Israeli firms
Gorodnichenko, Yuriy; Melnick, Rafi; Kutai, Ari - 2023
This study analyzes how firms form their inflation expectations during a regime change in monetary policy and a transition to a low-inflation environment. Using the Bank of Israel survey of firms, we document the basic properties of firms' inflation expectations and examine how Israeli firms...
Persistent link: https://www.econbiz.de/10014318218
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A theory of price adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …
Persistent link: https://www.econbiz.de/10010350414
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A theory of wage adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new theory of wage adjustment, based on worker loss aversion. In line with prospect theory, the workers … price. Firms adjust wages flexibly in response to variations in labor demand. The resulting theory of wage adjustment is …
Persistent link: https://www.econbiz.de/10010457894
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Loss aversion and labor supply
Goette, Lorenz (contributor); Huffman, David (contributor);  … - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001829225