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and shifts of the Phillips curve, depending on the type of the shock that hits the economy. In addition, expectations …
Persistent link: https://www.econbiz.de/10011875742
We use survey data to study how consumers assess the macroeconomic effects of structural oil market shocks on the U.S. economy using vector autoregressive models. To structurally decompose oil price changes, we impose sign restrictions on impulse responses. We find that the survey respondents'...
Persistent link: https://www.econbiz.de/10011875751
dynamics behave like uncertainty shocks, in the sense that self-fulfilled beliefs about volatility drive aggregate fluctuations …
Persistent link: https://www.econbiz.de/10015329687
ground acceleration registered during each shock with survey data about individual opinions on redistribution we show that … the average intensity of the shakes is associated with subsequent stronger beliefs that, for a society to be fair, income … the timing and repetition of the shocks play a role in informing redistributive preferences …
Persistent link: https://www.econbiz.de/10012865854
Persistent link: https://www.econbiz.de/10008857161
A growing body of work has shown that aggregate shocks affect the formation of preferences and beliefs. This article … period in which they are experienced matters, and whether they alter preferences and beliefs permanently. We review the … conclusions emerge consistently across the reviewed papers. First, aggregate shocks impact many preferences and beliefs, including …
Persistent link: https://www.econbiz.de/10015328441
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State of Israel and the West Bank as an exogenous shock to test changes in fundamental preferences. We find that the wall …, time and ambiguity preferences. We exploit the historical episode of the construction of the separation wall between the … affects preferences: people in isolated communities are significantly more risk-tolerant and ambiguity-averse than people who …
Persistent link: https://www.econbiz.de/10010490654