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作者：Menkhoff, Lukas; Rieth, Malte; Stohr, Tobias
作者单位：Humboldt University of Berlin; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW)
摘要：Evidence on the effectiveness of foreign exchange (FX) interventions is either limited to short horizons or hampered by debatable identification. We address these limitations by identifying a structural vector autoregressive model for the daily frequency with an external instrument. Generally we find, for freely floating currencies, that FX intervention shocks significantly affect exchange rates and that this impact persists for months. The signaling channel dominates the portfolio channel. Mo...
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作者：Bai, Liang; Handel, Benjamin; Miguel, Edward; Rao, Gautam
作者单位：University of London; King's College London; University of Edinburgh; University of California System; University of California Berkeley; National Bureau of Economic Research; Harvard University
摘要：Self-control problems constitute a potential explanation for the underinvestment in preventive health in low-income countries. Behavioral economics offers a tool to solve such problems: commitment devices. We conduct a field experiment to evaluate the effectiveness of different types of theoretically motivated commitment contracts in increasing preventive doctor visits by hypertensive patients in rural India. Despite achieving high take-up of such contracts in some treatment arms, we find no e...
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作者：Hanspal, Tobin; Weber, Annika; Wohlfart, Johannes
作者单位：Vienna University of Economics & Business; Goethe University Frankfurt; University of Copenhagen; Leibniz Association; Ifo Institut; Danish Finance Institute
摘要：We survey a representative sample of U.S. households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations about retirement age, desired working hours, and household debt but have only small effects on expected spending. We provide correlational and experimental evidence that beliefs about the duration of the stock market recovery shape households' expectations about their own wea...
