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Essays on Macroeconomics and Behavioral Economics.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Essays on Macroeconomics and Behavioral Economics./
Author:	Lee, Eungik.
Description:	1 online resource (279 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-12, Section: B.
Contained By:	Dissertations Abstracts International85-12B.
Subject:	Statistics. -
Online resource:	click for full text (PQDT)
ISBN:	9798383166208

Essays on Macroeconomics and Behavioral Economics.
Lee, Eungik.

Essays on Macroeconomics and Behavioral Economics. - 1 online resource (279 pages)

Source: Dissertations Abstracts International, Volume: 85-12, Section: B.

Thesis (Ph.D.)--New York University, 2024.

Includes bibliographical references

This dissertation investigates workers' subjective income expectations and explores how these expectations influence macroeconomic consumption and savings patterns.Chapter 1 demonstrates how earnings shock affects workers' consumption using uniquely collected survey-measured expectation data and matched administrative data in Denmark. In this chapter, I show standard assumptions in the income process literature, including performance. I show that workers' differentiation of permanent and transitory shocks has limitations in explaining the empirical expectation changes upon earnings shocks. I introduce a new income process model in which workers have partial information about the nature of earnings shocks and study its implications for consumption.Chapter 2 reports the disparity between subjective perceptions of earnings risk and those inferred from administrative data. I present a survey tool designed to gauge earnings risk, considering the potential for job termination through quitting or being fired. My analysis highlights job transitions as significant factors driving subjective risk perceptions. Moreover, I reveal that the earnings risk inferred from administrative data may overestimate subjective perceptions of risk.Chapter 3 shows that younger workers have uncertainty regarding their future retirement income. Additionally, they hold biased beliefs, anticipating eligibility for social security earlier than policymakers intend, while also exhibiting high levels of uncertainty about the eligibility age. The information treatment effectively dispels the bias, indicating it stems from misunderstanding.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798383166208Subjects--Topical Terms:

556824
Statistics.
Subjects--Index Terms:

ConsumptionIndex Terms--Genre/Form:

554714
Electronic books.

Essays on Macroeconomics and Behavioral Economics.
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245 1 0 $a Essays on Macroeconomics and Behavioral Economics.
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500 $a Source: Dissertations Abstracts International, Volume: 85-12, Section: B.
500 $a Advisor: Caplin, Andrew.
502 $a Thesis (Ph.D.)--New York University, 2024.
504 $a Includes bibliographical references
520 $a This dissertation investigates workers' subjective income expectations and explores how these expectations influence macroeconomic consumption and savings patterns.Chapter 1 demonstrates how earnings shock affects workers' consumption using uniquely collected survey-measured expectation data and matched administrative data in Denmark. In this chapter, I show standard assumptions in the income process literature, including performance. I show that workers' differentiation of permanent and transitory shocks has limitations in explaining the empirical expectation changes upon earnings shocks. I introduce a new income process model in which workers have partial information about the nature of earnings shocks and study its implications for consumption.Chapter 2 reports the disparity between subjective perceptions of earnings risk and those inferred from administrative data. I present a survey tool designed to gauge earnings risk, considering the potential for job termination through quitting or being fired. My analysis highlights job transitions as significant factors driving subjective risk perceptions. Moreover, I reveal that the earnings risk inferred from administrative data may overestimate subjective perceptions of risk.Chapter 3 shows that younger workers have uncertainty regarding their future retirement income. Additionally, they hold biased beliefs, anticipating eligibility for social security earlier than policymakers intend, while also exhibiting high levels of uncertainty about the eligibility age. The information treatment effectively dispels the bias, indicating it stems from misunderstanding.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2024
538 $a Mode of access: World Wide Web
650 4 $a Statistics. $3 556824
650 4 $a Finance. $3 559073
653 $a Consumption
653 $a Income risk
653 $a Social security
653 $a Macroeconomics
653 $a Behavioral economics
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690 $a 0508
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710 2 $a New York University. $b Economics. $3 1179154
773 0 $t Dissertations Abstracts International $g 85-12B.
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