Bernanke (2005) hypothesized that a "global savings glut" was causing large trade imbalances. However, we show that the global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global savings glut there should have been a large investment...

<link rid="b8">Bernanke (2005)</link> hypothesised that a 'global savings glut' was causing large trade imbalances. However, we show that the global savings rates did "not" show a robust upward trend during the relevant period. Moreover, "if" there had been a global savings glut there should have been a large...

In an otherwise neutrally described Prisonersʼ dilemma experiment, we document that behavior is more likely to be cooperative when the game is called the Community Game than when it is called the Stock Market Game. However, the difference vanishes when only one of the subjects is in control of...

In a one-shot Prisoners’ dilemma experiment, female participants are highly sensitive to the social frame. Male participants are not.

A host of recent studies show that attention allocation has important economic consequences. This paper reports the first empirical test of a cost-benefit model of the endogenous allocation of attention. The model assumes that economic agents have finite mental processing speeds and cannot...

Laboratory and field studies of time preference find that discount rates are much greater in the short-run than in the long-run. Hyperbolic discount functions capture this property. This paper solves the decision problem of a hyperbolic consumer who faces stochastic income and a borrowing...

Using a sample of Harvard undergraduates, the authors analyze the trust and social capital in two experiments. Trusting behavior and trustworthiness rise with social connectionl differences in race and nationality reduce the level of trusworthiness.

We study whether prompts to form and recall a plan can increase individuals’ responsiveness to reminders to make and attend beneficial appointments. At four companies, all employees due for a colonoscopy were randomly assigned to receive either a control mailing or a treatment mailing....

We describe the pension plan features of the states and the largest cities and counties in the U.S. Unlike in the private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have shifted towards defined contribution (DC) plans as their...