Arbeitspapier
Risk Exposure and Acquisition of Macroeconomic Information
We conduct an experiment with a representative sample from the US to study households' demand for macroeconomic information. Respondents who learn of a higher personal exposure to unemployment risk during recessions increase their demand for an expert forecast about the likelihood of a recession. Our findings are consistent with the basic premise of theories of rational inattention that demand for information depends on its expected benefit. Moreover, the fact that perceived risk exposure responds to information highlights frictions in households' knowledge about the personal relevance of particular pieces of information. Our findings inform the modeling of information frictions in macroeconomics.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 8634
- Klassifikation
-
Wirtschaft
Consumer Economics: Empirical Analysis
Household Saving; Personal Finance
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Expectations; Speculations
Business Fluctuations; Cycles
Portfolio Choice; Investment Decisions
- Thema
-
risk exposure
macroeconomic conditions
information acquisition
experiment
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Roth, Christopher
Settele, Sonja
Wohlfart, Johannes
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and Ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Roth, Christopher
- Settele, Sonja
- Wohlfart, Johannes
- Center for Economic Studies and Ifo Institute (CESifo)
Entstanden
- 2020
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