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. This finding is consistent with macroeconomic models of endogenous information acquisition, according to which the demand for information depends on its expected benefits. Moreover, respondents' updating about their personal unemployment risk suggests that households are imperfectly informed about their exposure to aggregate fluctuations, which may distort their beliefs about the benefits of acquiring macroeconomic information.
- Sprache
-
Englisch
- Erschienen in
-
Series: CEBI Working Paper Series ; No. 24/20
- 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)
-
University of Copenhagen, Department of Economics, Center for Economic Behavior and Inequality (CEBI)
- (wo)
-
Copenhagen
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 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
- University of Copenhagen, Department of Economics, Center for Economic Behavior and Inequality (CEBI)
Entstanden
- 2021
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