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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 …
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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 …
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representative of the US population and a sample of more than 1,000 experts, we measure beliefs about how the unemployment rate and … the inflation rate respond to four different hypothetical exogenous shocks: a monetary policy shock, a government spending … shock, an income tax shock, and an oil price shock. While expert predictions are quantitatively close to benchmarks from …
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measure beliefs about the effects of macroeconomic shocks on unemployment and inflation, providing respondents with identical …,500 US households and 1,500 experts, beliefs are widely dispersed, even about the directional effects of shocks, and there are … large differences in average beliefs between households and experts. Part of this disagreement seems to arise from selective …
Persistent link: https://www.econbiz.de/10012663050
To study the effect of political and institutional changes on the economy, we look at share prices in the Santiago exchange during the tumultuous political events that characterized Chile in the early 1970s. We use a transparent empirical strategy, deploying previously unused daily data and...
Persistent link: https://www.econbiz.de/10011755991
The blame for the recent financial crisis has been attributed to modern macroeconomic theory rather than banking and finance. This article defends modern macroeconomics against its critics arguing that the critics have missed the point of why macroeconomics is carried out in the way it is. It...
Persistent link: https://www.econbiz.de/10008809502