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This paper examines the impact of late-career investment returns and job loss on subsequent retiree well-being. Specifically, we explore whether there is a link between the income of retirees aged 70 to 79 and the stock market and labor market conditions that existed around the time of their...
Persistent link: https://www.econbiz.de/10012462588
-reported happiness and life satisfaction. I find robust evidence that high inflation and, to a greater extent, unemployment lower …
Persistent link: https://www.econbiz.de/10012469079
This paper provides new evidence in support of the idea that bouts of optimism and pessimism drive much of US business cycles. In particular, we begin by using sign-restriction based identification schemes to isolate innovations in optimism or pessimism and we document the extent to which such...
Persistent link: https://www.econbiz.de/10012461007
We find expectations are more sensitive to economic growth than traditional wellbeing metrics. We examine Eurobarometer micro data from 1973-2023 on movements in life satisfaction along with data from 1995-2022 on five expectations variables on and individual's life and their financial and job...
Persistent link: https://www.econbiz.de/10014447326
cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … inequality, over the last three decades. While the trend in the skill premium differed widely across countries, the experience … premium rose and the gender premium fell virtually everywhere. At a higher frequency, earnings inequality appears to be …
Persistent link: https://www.econbiz.de/10012463095
Recent advances in measuring cyclical changes in the income distribution raise new questions: How might these distributional changes affect the business cycle itself? We show how counter-cyclical income dispersion can generate counter-cyclical markups in the goods market, without any preference...
Persistent link: https://www.econbiz.de/10012464195
easy-to-use toolbox. Our method extends standard linearization techniques and is designed to work in cases when inequality … factor-specific productivity shocks shape dynamics of income and consumption inequality …
Persistent link: https://www.econbiz.de/10012455187
believe that Latin America has always had very high levels of inequality, and that it's the Iberian colonists' fault. Thus … that this must always have been true. Indeed, some have argued that high inequality appeared very early in the post … performance we observe there even today. The recent leveling of inequality in the region since the 1990s seems to have done little …
Persistent link: https://www.econbiz.de/10012457751
Does the historical macroeconomic environment affect preferences for redistribution? We find that individuals who experienced a recession when young believe that success in life depends more on luck than effort, support more government redistribution, and tend to vote for left-wing parties. The...
Persistent link: https://www.econbiz.de/10012463329
We examine the impact of the global recession triggered by the Covid-19 pandemic on women's versus men's employment. Whereas recent recessions in advanced economies usually had a disproportionate impact on men's employment, giving rise to the moniker "mancessions," we show that the pandemic...
Persistent link: https://www.econbiz.de/10012510511