Showing 1 - 10 of 10
Standard economic theory suggests that individuals know best how to make themselves happy. Thus, policies designed to encourage more forward-looking behaviors will only reduce people's happiness. Recently, however, economists have explored the role of impatience, especially difficulties with...
Persistent link: https://www.econbiz.de/10013413349
In this paper, we examine the role of impatience in the formation of human capital - arguably the most important investment decision individuals make during their lifetimes. We pay particular attention to a set of investment behaviors that cannot be explained solely by variation in exponential...
Persistent link: https://www.econbiz.de/10014191407
Standard economic theory suggests that individuals know best how to make themselves happy. Thus, policies designed to encourage "better" behaviors will only reduce people's happiness. Recently, however, economists have explored the role of impatience, especially difficulties with delaying...
Persistent link: https://www.econbiz.de/10011434104
Using a dataset covering one quarter of the U.S. general-purpose credit card market, we document that 29% of accounts regularly make payments at or near the minimum payment. We exploit changes in issuers' minimum payment formulas to distinguish between liquidity constraints and anchoring as...
Persistent link: https://www.econbiz.de/10012981098
We assess the complicated reality of monetary policy transmission through mortgage markets by synthesizing the existing literature on the role of refinancing in policy implementation. After briefly reviewing mortgage market institutions in the U.S. and documenting refinance activity over time,...
Persistent link: https://www.econbiz.de/10013233751
Using a dataset covering one quarter of the U.S. general-purpose credit card market, we document that 29% of accounts regularly make payments at or near the minimum payment. We exploit changes in issuers' minimum payment formulas to distinguish between liquidity constraints and anchoring as...
Persistent link: https://www.econbiz.de/10012455938
Persistent link: https://www.econbiz.de/10012133013
Persistent link: https://www.econbiz.de/10012404618
We assess the complicated reality of monetary policy transmission through mortgage markets by synthesizing the existing literature on the role of refinancing in policy implementation. After briefly reviewing mortgage market institutions in the U.S. and documenting refinance activity over time,...
Persistent link: https://www.econbiz.de/10012482258
We assess the complicated reality of monetary policy transmission through mortgage markets by synthesizing the existing literature on the role of refinancing in policy implementation. After briefly reviewing mortgage market institutions in the USA and documenting refinance activity over time, we...
Persistent link: https://www.econbiz.de/10014090266