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Author: Michael DeDad Publisher: ISBN: Category : Consumer behavior Languages : en Pages : 145
Book Description
This dissertation consists of three chapters, two of which address consumer choices and tastes and one that addresses risk aversion in lending. The chapters are organized as follows: Chapter 1, "Tastes in the United States: Convergence or Divergence?": This study investigates how tastes for consumption goods across the United States have changed in the 2000s. Using Nielsen Homescan barcode-scanner data, I find evidence of an overall divergence in food tastes from 2007 to 2016 between households of different regional markets and different income, education, and race groups. There is evidence of convergence between rural households, while urban/rural groups and some race groups do not show an overall change in taste differences across groups. Across regional markets, political distance explains taste differences better than geographical distance.Chapter 2, "Human Capital and Quality Choice": This paper argues that human capital increases a consumer's ability to evaluate and appreciate the quality of information-intensive goods. We show theoretically that consumers with more human capital have steeper Engel curves for higher-quality varieties. We test this prediction using Nielsen Homescan data and focus on organic milk consumption in the United States. Using education as a proxy for human capital, we show that households with college-educated heads have steeper Engel curves for organic milk than those without college-educated heads.Chapter 3, "Risk Aversion in Lending Following the Financial Crisis": Following the 2007-2008 financial crisis, bank lending dropped dramatically, and the decline persisted well into the recovery period. This paper attempts to explain the drop in lending using a consumer default model with risk aversion in loan pricing. The version of the model with risk aversion is compared to one that uses the standard assumption of risk-neutral financial intermediaries to see if a model with risk aversion more accurately predicts lending in the post-crisis period. The risk-averse pricing model consistently generates more accurate interest rates than the risk-neutral pricing model, while the risk-neutral pricing model more accurately predicts the debt-output ratio.
Author: Michael DeDad Publisher: ISBN: Category : Consumer behavior Languages : en Pages : 145
Book Description
This dissertation consists of three chapters, two of which address consumer choices and tastes and one that addresses risk aversion in lending. The chapters are organized as follows: Chapter 1, "Tastes in the United States: Convergence or Divergence?": This study investigates how tastes for consumption goods across the United States have changed in the 2000s. Using Nielsen Homescan barcode-scanner data, I find evidence of an overall divergence in food tastes from 2007 to 2016 between households of different regional markets and different income, education, and race groups. There is evidence of convergence between rural households, while urban/rural groups and some race groups do not show an overall change in taste differences across groups. Across regional markets, political distance explains taste differences better than geographical distance.Chapter 2, "Human Capital and Quality Choice": This paper argues that human capital increases a consumer's ability to evaluate and appreciate the quality of information-intensive goods. We show theoretically that consumers with more human capital have steeper Engel curves for higher-quality varieties. We test this prediction using Nielsen Homescan data and focus on organic milk consumption in the United States. Using education as a proxy for human capital, we show that households with college-educated heads have steeper Engel curves for organic milk than those without college-educated heads.Chapter 3, "Risk Aversion in Lending Following the Financial Crisis": Following the 2007-2008 financial crisis, bank lending dropped dramatically, and the decline persisted well into the recovery period. This paper attempts to explain the drop in lending using a consumer default model with risk aversion in loan pricing. The version of the model with risk aversion is compared to one that uses the standard assumption of risk-neutral financial intermediaries to see if a model with risk aversion more accurately predicts lending in the post-crisis period. The risk-averse pricing model consistently generates more accurate interest rates than the risk-neutral pricing model, while the risk-neutral pricing model more accurately predicts the debt-output ratio.
Author: M. Ayhan Kose Publisher: World Bank Publications ISBN: 1464815453 Category : Business & Economics Languages : en Pages : 403
Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author: Financial Crisis Inquiry Commission Publisher: Cosimo, Inc. ISBN: 1616405414 Category : Political Science Languages : en Pages : 692
Book Description
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Author: Publisher: World Bank Publications ISBN: 0821372823 Category : Adaptation (Biology) Languages : en Pages : 135
Book Description
This first report deals with some of the major development issues confronting the developing countries and explores the relationship of the major trends in the international economy to them. It is designed to help clarify some of the linkages between the international economy and domestic strategies in the developing countries against the background of growing interdependence and increasing complexity in the world economy. It assesses the prospects for progress in accelerating growth and alleviating poverty, and identifies some of the major policy issues which will affect these prospects.
Author: Partha Dasgupta Publisher: World Bank Publications ISBN: 9780821350041 Category : Political Science Languages : en Pages : 438
Book Description
This book contains a number of papers presented at a workshop organised by the World Bank in 1997 on the theme of 'Social Capital: Integrating the Economist's and the Sociologist's Perspectives'. The concept of 'social capital' is considered through a number of theoretical and empirical studies which discuss its analytical foundations, as well as institutional and statistical analyses of the concept. It includes the classic 1987 article by the late James Coleman, 'Social Capital in the Creation of Human Capital', which formed the basis for the development of social capital as an organising concept in the social sciences.
Author: Michael DeDad
Author: Michael DeDad
Author: M. Ayhan Kose
Author: Financial Crisis Inquiry Commission
Author: 
Author: Partha Dasgupta