Results

CEP discussion paper

What is the public?s social welfare function?

Optimal public policy requires a social welfare function defined over individual utilities. While there is substantial research on income-based social welfare functions, no published study has directly elicited public pr...Read more...

CEP discussion paper

Gender gaps from labor market shocks

Job loss leads to persistent adverse labor market outcomes, but assessments of gender differences in labor market recovery are lacking. We utilize plant closures in Denmark to estimate gender gaps in labor market outcome...Read more...

Journal article

Journal of Economic Behavior and Organization:

Is having an expert "friend" enough? An analysis of consumer switching behavior in mobile telephony

We present novel evidence from a large panel of UK consumers who receive personalized reminders from a specialist price-comparison website about the precise amount they could save by switching to their best-suited altern...Read more...

CEP discussion paper

Is having an expert "friend" enough? An analysis of consumer switching behavior in mobile telephony

We present novel evidence from a large panel of UK consumers who receive personalized reminders from a specialist price-comparison website about the precise amount they could save by switching to their best-suited altern...Read more...

Blog

Vox EU:

Loss aversion and consumer inertia: new evidence from phone subscriptions

Across a range of everyday markets, consumers make recurrent tariff choices in the face of a multitude of fees and plans, leading to concerns they may fail to make optimal choices of suppliers or contracts. Christos Gena...Read more...

Journal article

Labour Economics:

Gender gaps from labor market shocks

Job loss leads to persistent adverse labor market outcomes, but assessments of gender differences in labor market recovery are lacking. We utilize plant closures in Denmark to estimate gender gaps in labor market outcome...Read more...

Journal article

Health Economics:

Risk aversion and Covid-19 vaccine hesitancy

We here investigate the role of risk aversion in COVID-19 vaccine hesitancy. The theoretical effect is ambiguous, as both COVID-19 infection and vaccination side-effects involve probabilistic elements. In large-scale dat...Read more...

Journal article

Labour Economics:

Labour market shocks and parental investments during the Covid-19 pandemic

This paper studies spill-over effects of parental labour market shocks at two time points in the Covid-19 crisis: right after its onset in April 2020, and in January 2021. We use rich data from the UK to look at the cons...Read more...

Journal article

Oxford Research Encyclopedia of Economics and Finance:

The effects of parental job loss on children's outcomes

Severe economic downturns are typically characterized by a high incidence of job losses. The available evidence suggests that job losers suffer short-run earning losses that persist in the long run, are more likely to re...Read more...

CEP discussion paper

Unequal learning and labour market losses in the crisis: consequences for social mobility

The unequal learning and labour market losses arising in the UK due to the Covid-19 pandemic are used to assess the consequences for social mobility. Labour market and learning losses have been more pronounced for people...Read more...

Journal article

SERIEs:

Job loss at home: children's school performance during the Great Recession

This paper studies the intergenerational impact of parental job loss on school performance during the Great Recession in Spain. Collecting data through parental surveys in a school in the province of Barcelona, I obtain ...Read more...

CEP discussion paper

History dependence in the housing market

Using data on the universe of housing transactions in England and Wales over a twenty-year period, we document a robust pattern of history dependence in housing markets. Sale prices and selling propensities are affected ...Read more...

Journal article

Journal of Urban Economics:

Mortgage debt and entrepreneurship

We study the link between mortgage debt and entrepreneurship using a model of occupational choice and housing tenure in a setting where loans are recourse?like in the UK and several US states. Our model shows that as lon...Read more...

Journal article

Management Science:

Risk aversion and wealth: Evidence from person-to-person lending portfolios

We estimate risk aversion from investors' financial decisions in a person-toperson lending platform. We develop a method that obtains a risk-aversion parameter from each portfolio choice. Since the same individuals inves...Read more...

CentrePiece article

What makes consumers switch mobile phone tariffs?

The potential psychological pain of nasty surprises on mobile phone bills is a great motivator to switch tariffs, according to research by Christos Genakos and colleagues. Their study notes that navigating through thousa...Read more...

CentrePiece article

In brief... Parental job loss: the impact on children's school performance

Unemployment is bad news not just for the individuals who lose their jobs but also for their families. Jenifer Ruiz-Valenzuela examines this underemphasised cost of economic downturns by measuring the impact of parental ...Read more...

CEP discussion paper

Loss aversion on the phone

We analyze consumer switching between mobile tariff plans using consumer-level panel data. Consumers receive reminders from a specialist price-comparison website about the precise amount they could save by switching to a...Read more...

CEP discussion paper

Job loss at home: children's school performance during the great recession in Spain

This paper studies the effect of parental job loss on children's school performance during the Great Recession in Spain, using an original panel dataset for students observed since the beginning of the crisis in a school...Read more...

CentrePiece article

In brief... Business cycle blues

People do not psychologically benefit from economic expansions nearly as much as they suffer from recessions, according to research by JanEmmanuel De Neve and colleagues....Read more...

CEP occasional paper

Money, well-being and loss aversion: does an income loss have a greater effect on well-being than an equivalent income gain?

Higher income is associated with greater well-being, but do income gains and losses impact on well-being differently? Loss aversion, whereby losses loom larger than gains, is typically examined with relation to decisions...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Cheap Imports and the Loss of U.S. Manufacturing Jobs

This paper examines the role of international trade, and specifically imports from low-wage countries, in determining patterns of job loss in U.S. manufacturing industries between 1992 and 2007. Motivated by intuitions f...Read more...

CEP discussion paper

Policy Design in a Model with Swings in Risk Appetite

This paper studies the policy implications of habits and cyclical changes in agents' appetite for risk-taking. To do so, it analyses the non-linear solution of a New Keynesian (NK) model, in which slow-moving habits help...Read more...

CEP discussion paper

Cyclical Risk Aversion, Precautionary Saving and Monetary Policy

This paper analyzes the conduct of monetary policy in an environment in which cyclical swings in risk appetite affect households' propensity to save. It uses a New-Keynesian model featuring external habit formation to sh...Read more...

CEP discussion paper

To Join or Not to Join? Factors Influencing Employee Share Plan Membership in a Multinational Corporation

Many firms encourage employees to own company stock through share plans that subsidize the price at favorable rates, but even so many employees do not buy shares. Using a new survey of employees in a multinational with a...Read more...

CEP discussion paper

Evaluating the Economic Significance of Downward Nominal Wage Rigidity

This paper seeks to contribute to the literature on downward nominal wage rigidity (DNWR) along two dimensions. First, we formulate and solve an explicit model of wage-setting in the presence of worker resistance to nomi...Read more...