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Trust in Public Institutions Over the Business Cycle
Stevenson, Betsey - 2011
the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial … sector. Finally, analysis of several repeated cross-sections of confidence within U.S. states yields similar qualitative …
Persistent link: https://www.econbiz.de/10013128268
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The Organization of Firms Across Countries
Bloom, Nicholas - 2012
We argue that social capital as proxied by regional trust and the Rule of Law can improve aggregate productivity through facilitating greater firm decentralization. We collect original data on the decentralization of investment, hiring, production and sales decisions from Corporate Head Quarters...
Persistent link: https://www.econbiz.de/10013116932
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Financial Literacy, Retirement Planning, and Household Wealth
van Rooij, Maarten - 2011
There is ample empirical evidence documenting widespread financial illiteracy and limited pension knowledge. At the same time, the distribution of wealth is widely dispersed and many workers arrive on the verge of retirement with few or no personal assets. In this paper, we investigate the...
Persistent link: https://www.econbiz.de/10013121050
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Confidence and the Transmission of Government Spending Shocks
Bachmann, Ruediger - 2011
There seems to be a widespread belief among economists, policy-makers, and members of the media that the "confidence … augmented to include empirical measures of consumer or business confidence. We also estimate non-linear VAR specifications to … allow for differential impacts of government spending in "normal'' times versus recessions. In normal times confidence does …
Persistent link: https://www.econbiz.de/10013124852
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The Making of a Great Contraction with a Liquidity Trap and a Jobless Recovery
Schmitt-Grohé, Stephanie - 2012
confidence shock. Lack-of-confidence shocks play a central role in generating jobless recoveries, for fundamental shocks, such as …
Persistent link: https://www.econbiz.de/10013097777
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Trust and Cheating
Butler, Jeffrey V. - 2012
When we take a cab we may feel cheated if the driver takes an unnecessarily long route despite the lack of a contract or promise to take the shortest possible path. Is our decision to take the cab affected by our belief that we may end up feeling cheated? Is the behavior of the driver affected...
Persistent link: https://www.econbiz.de/10013098476
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Money Doctors
Gennaioli, Nicola - 2012
We present a new model of money management, in which investors delegate portfolio management to professionals based not only on performance, but also on trust. Trust in the manager reduces an investor's perception of the riskiness of a given investment, and allows managers to charge higher fees...
Persistent link: https://www.econbiz.de/10013104732
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More Trusting, Less Trust? An Investigation of Early E-Commerce in China
Cai, Hongbin - 2013
Trust is vital for market development, but how can trust be enhanced in a marketplace? A common view is that more trusting may help to build trust, especially in less developed economies. In this paper, we argue that more trusting may lead to less trust. We set up a rational expectation model in...
Persistent link: https://www.econbiz.de/10013083391
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The Cost of Friendship
Gompers, Paul A. - 2014
This paper explores two broad questions on collaboration between individuals. First, we investigate what personal characteristics affect people's desire to work together. Second, given the influence of these personal characteristics, we analyze whether this attraction enhances or detracts from...
Persistent link: https://www.econbiz.de/10013065957
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A Matter of Trust : Understanding Worldwide Public Pension Conversions
Smetters, Kent A. - 2014
This paper seeks to explain the key two stylized facts of fundamental reforms to social security systems worldwide: Why have so many countries reformed when traditional systems seem, at first glance, to have a higher probability of delivering a secure retirement income? Why have these reforms...
Persistent link: https://www.econbiz.de/10013068090