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on Cognitive and Behavioural Economics |
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Issue of 2017‒08‒06
three papers chosen by Marco Novarese Università degli Studi del Piemonte Orientale |
| By: | Miloš Kankaraš |
| Abstract: | Personality characteristics shape human behaviour and influence a wide range of life events and outcomes. They do so not only through their direct effects on life outcomes, but also through their indirect effects on other important personal factors and intermediate life events, such as the development of cognitive capacities, the attainment of educational qualifications and the formation of a family. As such, personality characteristics have a demonstrable relevance for a wide range of policy issues and represent an important, although often neglected, subject of policy interest. This paper reviews the scientific literature covering a wide range of personality characteristics, discussing their conceptualisations and main features, their relevance for important outcomes in life and work, and the chief ways they are measured. It aims to provide a comprehensive overview of various attributes of personality from the perspective of their potential importance for the Survey of Adult Skills (PIAAC), taking into account their analytical potential and policy relevance. The paper also outlines and evaluates the most important measurement instruments for each personality characteristic, with a focus on short self-report scales as the most appropriate form for inclusion in large-scale international surveys. Finally, it presents some considerations related to the evaluation and promotion of personality characteristics and introduces the substantive and measurement criteria that could be used to select the personality attributes, and related measurement scales, to include in large-scale surveys. |
| Date: | 2017–07–31 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaab:157-en&r=cbe |
| By: | Cappelletti, Giuseppe; Mistrulli, Paolo Emilio |
| Abstract: | Multiple lending has been widely investigated from both an empirical and a theoretical perspective. Nevertheless, the implications of multiple lending for the stability of the banking system still need to be understood. By lending to a common set of borrowers, banks are interconnected and then exposed to financial contagion phenomena, even if not directly. In this paper, we investigate a specific type of externality that originates from those borrowers that obtain liquidity from more than one bank. In this case, contagion may occur if a bank hit by a liquidity shock calls in some loans and borrowers then pay them back by drawing money from other banks. We show that, under certain circumstances that make other sources of liquidity unavailable or too costly, multiple lending might be responsible for a large liquidity shortage. JEL Classification: G21, G28 |
| Keywords: | credit lines, financial contagion, interbank market, multiple lending, systemic risk |
| Date: | 2017–07 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20172089&r=cbe |
| By: | Almunia, Miguel; Lockwood, Ben; Scharf, Kimberley |
| Abstract: | This paper estimates the tax-price elasticity of giving using UK administrative tax return data, exploiting variation from a large tax reform. We estimate both the in- tensive and extensive-margin elasticity, using a novel instrumental variables strategy. Then, we derive new conditions to evaluate the welfare consequences of changes in the generosity of the subsidy to donations. We find a small intensive-margin elasticity of -0.2 and a substantial extensive-margin elasticity of -0.8, yielding a total elasticity of about -1. These estimates mask considerable heterogeneity: high-income individ- uals respond more on the intensive margin, while the extensive-margin response is stronger among low-income taxpayers. |
| Keywords: | Donations; Tax policy; Tax Subsidies for Giving |
| JEL: | D64 H24 H31 |
| Date: | 2017–07 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:12191&r=cbe |