Number of found documents: 1194
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Quantitative easing in the euro area: implications for income and wealth inequality
Stojanović, Dušan
2023 - English
This study examines how and to what extent quantitative easing of the ECB affects household income and wealth inequality in the euro area. Previous theoretical models have investigated the dynamics of inequality measures through differential access of households to financial/capital market (the portfolio rebalancing channel), neglecting the labor market differential (the earnings heterogeneity channel). Although the portfolio rebalancing channel may provide insight into wealth inequality and non-labor income inequality, this is not the case with labor (and thus total) income inequality. To be in line with the empirical evidence on labor income inequality, this study also considers segmented labor market on the basis of capital-skill complementarity in production and asymmetric real wage rigidities. When only financial market segmentation is considered, the quantitative results indicate a drop in total income inequality that is diminished over time, while wealth inequality experiences a rise that gradually becomes weaker. The introduction of the segmented labor market significantly mitigates the observed drop in total income inequality, while a rise in wealth inequality is largely amplified. Given the possible broadening of the ECB’s mandate towards distributional issues in the future, the analysis of segmented labor and financial markets can be more beneficial to the ECB as it provides a clearer picture of the inequality effects. Keywords: quantitative easing; capital-skill complementarity; asymmetric real wage rigidity Fulltext is available at external website.
Quantitative easing in the euro area: implications for income and wealth inequality

This study examines how and to what extent quantitative easing of the ECB affects household income and wealth inequality in the euro area. Previous theoretical models have investigated the dynamics of ...

Stojanović, Dušan
Národohospodářský ústav, 2023

Disclosure discrimination: an experiment focusing on communication in the hiring process
Badalyan, S.; Korlyakova, Darya; Rehák, Rastislav
2023 - English
We focus on communication among hiring team members and document the existence of discrimination in the disclosure of information about candidates. In particular, we conduct an online experiment with a nationally representative sample of Czech individuals who act as human resource assistants and hiring managers in our online labor market. The main novel feature of our experiment is the monitoring of information flow between human resource assistants and hiring managers. We exogenously manipulate candidates’ names to explore the causal effects of their gender and nationality on information that assistants select for managers. Our findings reveal that assistants disclose more information about family and less information about work for female candidates relative to male candidates. An in-depth analysis of the disclosed information suggests that gender stereotypes play an important role in this disclosure discrimination. Furthermore, assistants disclose less information about foreigners overall. This effect appears to be driven by the less attention assistants are willing to devote to the CVs of foreigners, measured by the extra effort to learn more about the candidates. Keywords: information; disclosure; hiring Fulltext is available at external website.
Disclosure discrimination: an experiment focusing on communication in the hiring process

We focus on communication among hiring team members and document the existence of discrimination in the disclosure of information about candidates. In particular, we conduct an online experiment with ...

Badalyan, S.; Korlyakova, Darya; Rehák, Rastislav
Národohospodářský ústav, 2023

Human capital affects religious identity: causal evidence from Kenya
Alfonsi, L.; Bauer, Michal; Chytilová, Julie; Miguel, E.
2023 - English
We study how human capital and economic conditions causally affect the choice of religious denomination. We utilize a longitudinal dataset monitoring the religious history of more than 5,000 Kenyans over twenty years, in tandem with a randomized experiment (deworming) that has exogenously boosted education and living standards. The main finding is that the program reduces the likelihood of membership in a Pentecostal denomination up to 20 years later when respondents are in their mid-thirties, while there is a comparable increase in membership in traditional Christian denominations. The effect is concentrated and statistically significant among a sub-group of participants who benefited most from the program in terms of increased education and income. The effects are unlikely due to increased secularization, because the program does not reduce measures of religiosity. The results help explain why the global growth of the Pentecostal movement, sometimes described a “New Reformation”, is centered in low-income communities. Keywords: human capital; economic conditions; religious denomination Fulltext is available at external website.
Human capital affects religious identity: causal evidence from Kenya

We study how human capital and economic conditions causally affect the choice of religious denomination. We utilize a longitudinal dataset monitoring the religious history of more than 5,000 Kenyans ...

Alfonsi, L.; Bauer, Michal; Chytilová, Julie; Miguel, E.
Národohospodářský ústav, 2023

Social ties at work and effort choice: experimental evidence from Tanzania
Chegere, M.; Falco, P.; Menzel, Andreas
2023 - English
Many firms hire workers via social networks. Whether workers who are socially connected to their employers exert more effort on the job is an unsettled debate. We address this question through a novel experiment with small-business owners in Tanzania. Participants are paired with a worker who conducts a real-effort task, and receive a payoff that depends on the worker’s effort. Some business owners are randomly paired with workers they are socially connected with, while others are paired with strangers. With a design that is sufficiently powered to detect economically meaningful effects, we find that being socially connected to one’s employer does not affect workers’ effort.\n Keywords: firms; hiring; productivity Fulltext is available at external website.
Social ties at work and effort choice: experimental evidence from Tanzania

Many firms hire workers via social networks. Whether workers who are socially connected to their employers exert more effort on the job is an unsettled debate. We address this question through a novel ...

Chegere, M.; Falco, P.; Menzel, Andreas
Národohospodářský ústav, 2023

Extrapolative income expectations and retirement savings
Cota, Marta
2023 - English
Why do employees’ retirement contributions gradually increase throughout their careers? This paper uses a structural life-cycle model based on household expectations data to explain workers’ retirement contribution decisions. The Michigan Survey of Consumers data shows that young households extrapolate from their recent income realizations and overstate the persistence and volatility of their future income. The structural life-cycle model with extrapolative expectations quantifies the difference in retirement contribution rates compared to rational expectations. Contrary to rational workers, extrapolative workers’ contributions match the data on retirement contributions over the life cycle. Consequently, mandating automatic enrollment yields negligible effects on retirement savings. Keywords: extrapolative expectations; forecast errors; illiquid savings Fulltext is available at external website.
Extrapolative income expectations and retirement savings

Why do employees’ retirement contributions gradually increase throughout their careers? This paper uses a structural life-cycle model based on household expectations data to explain workers’ ...

Cota, Marta
Národohospodářský ústav, 2023

Transformations in the Interpretation of Music Folklore: From the Protection of Everyday Culture to the Emergence of a Music Genre (Using the Czech Republic as a Case Study)
Uhlíková, Lucie; Pavlicová, M.
2023 - English
From the 1960s onwards, efforts began to develop in Czech ethnology, which gradually began to include folklore manifestations in their second existence in professional research. The field of folklorism sometimes overlapped with the existence of folk traditions, sometimes built on them, and sometimes was only inspired by them to varying degrees. The distinction in such defined categories was not easy even in the past, and with the increasingly rapid development of society, it became blurred in the general consciousness. Within this scope, a contemporary broad music genre, music folklore, has emerged that is not easy to define in terms of content. In this paper, the authors outline its historical formation, show model moments of its development, and deal with its polyfunctionality: many collectives present themselves not only on stage (together with dancers) and in concert settings (independently), but also participate in local ethno-cultural traditions, dance parties, family celebrations (weddings, birthdays), and commercially focused events. To illustrate this, the paper uses archival source material, and field research based on interviews with selected musicians. Keywords: Music folklore; transformations of folk tradition; music genre; folk revivalism in the Czech Republic Fulltext is available at external website.
Transformations in the Interpretation of Music Folklore: From the Protection of Everyday Culture to the Emergence of a Music Genre (Using the Czech Republic as a Case Study)

From the 1960s onwards, efforts began to develop in Czech ethnology, which gradually began to include folklore manifestations in their second existence in professional research. The field of ...

Uhlíková, Lucie; Pavlicová, M.
Etnologický ústav, 2023

Do pessimistic expectations about discrimination make minorities withdraw their effort? Causal evidence
Korlyakova, Darya
2022 - English
There is a long-standing concern that expected discrimination discourages minorities from exercising effort to succeed. Effort withdrawal could contribute to confirming negative stereotypes about minorities’ productivity and enduring disparities. This paper extends the findings of correlational research by exogenously manipulating individuals’ beliefs about discrimination against their group and exploring a causal link between perceived discrimination and individuals’ labor market behavior. For this purpose, we conduct an online experiment in the US with a diverse sample of 2,000 African Americans. We randomly assign individuals to two groups and inform one group about the frequency of discrimination against African Americans in a previous survey. To study the information effects on effort, we subsequently measure participants’ results on a math task. We document that most individuals initially overestimate discrimination against African Americans. The overestimation decreases strongly and significantly as a result of information provision. At the same time, treated individuals, males in particular, attempt and solve correctly fewer math problems compared to untreated individuals. Hence, our findings do not support the common concern that minorities’ inflated expectations about discrimination induce them to underperform. Keywords: perceived discrimination; racial minorities; effort Fulltext is available at external website.
Do pessimistic expectations about discrimination make minorities withdraw their effort? Causal evidence

There is a long-standing concern that expected discrimination discourages minorities from exercising effort to succeed. Effort withdrawal could contribute to confirming negative stereotypes about ...

Korlyakova, Darya
Národohospodářský ústav, 2022

Information, perceived returns and college major choices
Kudashvili, Nikoloz; Todua, Gega
2022 - English
Students may hold inaccurate beliefs about earnings and employment opportunities when making their education decisions. This paper analyzes the effects of information provision on student’s intended and actual college major choices in Georgia. Secondary school students in our experiment systematically overestimated the earnings and unemployment rates of college graduates. We find that 10 percent more students who received information on actual earnings and unemployment changed their actual college major choices than others. The changes in their majors are partly driven by differences in the perceived and actual unemployment rates, whereas the earning differences do not appear to play a role. We also estimate spillover effects on students who do not receive information directly, and show that they matter, but only for older students who are closer to high school graduation. Importantly, we find that the immediate changes in the intended choices are not linked to the final major choices, suggesting that measuring the effects of information on immediately expressed intentions may not be sufficient to understand how information affects actual real-life decisions. We find that both direct and indirect information provision have sizable effects on student college major choices. Keywords: college major; perceived unemployment; perceived earnings Fulltext is available at external website.
Information, perceived returns and college major choices

Students may hold inaccurate beliefs about earnings and employment opportunities when making their education decisions. This paper analyzes the effects of information provision on student’s intended ...

Kudashvili, Nikoloz; Todua, Gega
Národohospodářský ústav, 2022

Social networks and surviving the Holocaust
Bělín, M.; Jelínek, T.; Jurajda, Štěpán
2022 - English
Survivor testimonies link survival in deadly POW camps, Gulags, and Nazi concentration camps to the formation of close friendships with other prisoners. We provide statistical evidence consistent with these fundamentally selective testimonies. We study the survival of the 140 thousand Jews who entered the Theresienstadt ghetto, where 33 thousand died and from where over 80 thousand were sent to extermination camps. We ask whether an individual’s social status prior to deportation, and the availability of potential friends among fellow prisoners influenced the risk of death in Theresienstadt, the ability to avoid transports to the camps, and the chances of surviving Auschwitz. Pre-deportation social status protected prisoners in the self-administered society of the Theresienstadt ghetto, but it was no longer helpful in the extreme conditions of the Auschwitz-Birkenau concentration camp. Relying on multiple proxies of pre-existing social networks, we uncover a significant survival advantage to entering Auschwitz with a group of potential friends. Keywords: social status; social networks; Holocaust survival Fulltext is available at external website.
Social networks and surviving the Holocaust

Survivor testimonies link survival in deadly POW camps, Gulags, and Nazi concentration camps to the formation of close friendships with other prisoners. We provide statistical evidence consistent with ...

Bělín, M.; Jelínek, T.; Jurajda, Štěpán
Národohospodářský ústav, 2022

Proximity to help matters: the effect of access to centers of legal aid on bankruptcy rates
Hrehová, Kristína; Domonkos, Š.
2022 - English
Personal bankruptcy aims to provide a fresh start to debtors. While bankruptcy is often the only solution to financial distress, large spatial distance to affordable legal services may result in its underuse by eligible debtors. Using a large administrative dataset of personal bankruptcies, we study the impact of spatial distance from public Centers for Legal Aid (CLAs) on the regional incidence of personal bankruptcy in Slovakia. We avoid endogeneity by focusing on the increased availability of legal aid controlling for the expected distance from the nearest CLA, which serves as the first contact point in the process of filing for personal bankruptcy in the Slovak Republic. Distance from these legal aid centers has a significant impact on personal bankruptcy rates: the closer the nearest CLA is, the larger the prevalence of personal bankruptcy is in a given municipality. We quantify the impact of service access on personal bankruptcy rates, showing that improved access to free legal aid has both a statistically and substantively significant impact on the use of personal bankruptcy by the public. At the end of the almost 3-year-long period analyzed, municipalities with good access to CLAs had 3.3 bankruptcies more per 1,000 inhabitants than municipalities with weak access to CLAs. This effect is significant, as the average national bankruptcy rate until December 2019 reached 6.3 bankruptcies per 1,000 persons. Keywords: personal bankruptcy; insolvency; policy analysis Fulltext is available at external website.
Proximity to help matters: the effect of access to centers of legal aid on bankruptcy rates

Personal bankruptcy aims to provide a fresh start to debtors. While bankruptcy is often the only solution to financial distress, large spatial distance to affordable legal services may result in its ...

Hrehová, Kristína; Domonkos, Š.
Národohospodářský ústav, 2022

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