Behavioral Household Finance
This chapter provides an overview of household finance.
Research
Potential vs. Realized Savings under Automatic Enrollment
We studied the effect of automatic enrollment on savings plan loans and withdrawals and their implications for the evolution of retirement plan balances over time by examining the experience of a larg
Misperceptions of Relative Affluence and Support for International Redistribution
Against a backdrop of vast income disparities across countries, this article develops a theory of how misperceptions of individuals’ relative international income shape mass support for cross-national
Shops and the City: Evidence on Local Externalities and Local Government Policy from Big-Box Bankruptcies
We report three findings.
Testimony to Hearing on ‘Market Concentration’
My testimony makes five points about market concentration, all drawing from data and experience in the United States but in many cases likely generalizing to other OECD economies.
Slower Productivity and Higher Inequality: Are They Related?
Income growth for typical American families has slowed dramatically since 1973. Slower productivity growth and an increase in income inequality have both contributed to this trend.
The Value of Precision in Probability Assessment: Evidence from a Large-Scale Geopolitical Forecasting Tournament
Scholars, practitioners, and pundits often leave their assessments of uncertainty vague when debating foreign policy, arguing that clearer probability estimates would provide arbitrary detail instead
A Firm-Level Perspective on the Role of Rents in the Rise in Inequality
Joseph Stiglitz is one of the world’s greatest economists.
Identification and Estimation of Dynamic Causal Effects in Macroeconomics Using External Instruments
External sources of as-if randomness — that is, external instruments — can be used to identify the dynamic causal effects of macroeconomic shocks.
Liquidity Risk in Sequential Trading Networks
This paper studies a model of intermediated exchange with liquidity-constrained traders. Intermediaries are embedded in a trading network and their financial capacities are private information.
Get smart & reliable public policy insights right in your inbox.