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Received wisdom holds that income rank matters for life satisfaction, but causal evidence on the nature and impact of income comparisons is limited. We randomize individuals from a representative …
Discussion paper
This study explores the effects of ECB’s monetary policy surprise spillovers on the financial markets of Sweden and Denmark, two small open economies (SOEs) with close ties to the euro area. …
Discussion paper
We establish new efficiency results for decentralized markets with quality uncertainty. Buyers encounter a succession of passing trade opportunities and related asset information, allowing them to …
Discussion paper
Received wisdom holds that income rank matters for life satisfaction. In much of the literature, however, income comparisons are limited to the national population and evidence is correlational. In …
Discussion paper