Inequality and aggregate demand

A Auclert, M Rognlie - 2018 - nber.org
We explore the transmission mechanism of income inequality to output. In the short run,
higher inequality reduces output because marginal propensities to consume are negatively …

The macroeconomic effects of housing wealth, housing finance, and limited risk sharing in general equilibrium

J Favilukis, SC Ludvigson… - Journal of Political …, 2017 - journals.uchicago.edu
This paper studies a quantitative general equilibrium model of housing. The model has two
key elements not previously considered in existing quantitative macro studies of housing …

[PDF][PDF] Consumption, savings, and the distribution of permanent income

L Straub - Unpublished manuscript, Harvard University, 2019 - economics.yale.edu
Rising inequality in the permanent component of labor income, henceforth permanent
income, has been a major force behind the secular increase in US labor income inequality …

Doves for the rich, hawks for the poor? Distributional consequences of monetary policy

N Gornemann, K Kuester, M Nakajima - 2016 - papers.ssrn.com
Abstract We build a New Keynesian business-cycle model with rich household
heterogeneity. A central feature is that matching frictions render labor-market risk …

Socioeconomic status and macroeconomic expectations

S Das, CM Kuhnen, S Nagel - The Review of Financial Studies, 2020 - academic.oup.com
We show that individuals' macroeconomic expectations are influenced by their
socioeconomic status (SES). People with higher income or higher education are more …

Investor sophistication and capital income inequality

M Kacperczyk, J Nosal, L Stevens - Journal of Monetary Economics, 2019 - Elsevier
Capital income inequality is large and growing fast, accounting for a significant portion of
total income inequality. We study its growth in a general equilibrium portfolio choice model …

[PDF][PDF] Asset prices and wealth inequality

M Gomez - Unpublished paper: Princeton, 2016 - red-files-public.s3.amazonaws.com
This paper uses recently available data on the top of the wealth distribution to study the
relationship between asset prices and wealth inequality. I document three stylized facts:(1) …

Investment barriers and labeling schemes for socially responsible investments

G Gutsche, B Zwergel - Schmalenbach Business Review, 2020 - Springer
Given the increasing role of socially responsible investing (SRI), but still limited participation
of individual (ie small, retail) investors, the objective of this study is twofold:(i) We aim to …

Who wears the pants? Gender identity norms and intrahousehold financial decision‐making

D Ke - The Journal of Finance, 2021 - Wiley Online Library
Using microdata from US household surveys, I document that families with a financially
sophisticated husband are more likely to participate in the stock market than those with a …

The negativity bias and perceived return distributions: Evidence from a pandemic

R Sias, LT Starks, HJ Turtle - Journal of Financial Economics, 2023 - Elsevier
We hypothesize that the well-documented negativity bias, the psychological tendency to
asymmetrically emphasize negative over positive aspects, can help explain several financial …