Showing 1 - 10 of 534
How do firms' plans and expectations respond to macroeconomic shocks? We run a daily survey of German firms over the past three years. We randomize daily invitations, delivering a stable composition of firms. This allows constructing daily time series and estimating dynamic aggregate causal...
Persistent link: https://www.econbiz.de/10015409451
We survey samples of German firms and households to document novel stylized facts about the extent of information frictions among the two groups. First, firms' expectations about macroeconomic variables are closer to expert forecasts and less dispersed than households', consistent with higher...
Persistent link: https://www.econbiz.de/10013177731
What are the broad societal implications of inflation and unemployment? Analyzing a dataset of over 1.9 million individuals from 156 countries via the Gallup World Poll spanning 2005 to 2021, alongside macroeconomic data at the national level, we find that both inflation and unemployment have a...
Persistent link: https://www.econbiz.de/10014469790
We examine how informational frictions impact schooling and work outcomes. To do so, we estimate a dynamic structural model where individuals face uncertainty about their academic ability and productivity, which respectively determine their schooling utility and wages. Our framework accounts for...
Persistent link: https://www.econbiz.de/10014469773
in marriage over smoking, rather than bargaining within the couple or social learning. …
Persistent link: https://www.econbiz.de/10010272016
understand better how subjects with different cognitive abilities learn differently, we estimate a structural model of learning … ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable …
Persistent link: https://www.econbiz.de/10010377362
' beliefs are subject to information friction and Bayesian learning. …
Persistent link: https://www.econbiz.de/10012141180
We analyze a long-term contracting problem involving common uncertainty about a parameter capturing the productivity of the relationship, and featuring a hidden action for the agent. We develop an approach that works for any utility function when the parameter and noise are normally distributed...
Persistent link: https://www.econbiz.de/10010278382
understand better how subjects with different cognitive abilities learn differently, we estimate a structural model of learning … ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable …
Persistent link: https://www.econbiz.de/10010886141
We show how experience and dynamic learning processes reduce the obstacles to optimization imposed by information …
Persistent link: https://www.econbiz.de/10011873540