Risk exposure and acquisition of macroeconomic information

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Standard

Risk exposure and acquisition of macroeconomic information. / Settele, Sonja; Wohlfart, Johannes; Roth, Christopher.

I: American Economic Review: Insights, Bind 4, Nr. 1, 2022, s. 34-53.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Settele, S, Wohlfart, J & Roth, C 2022, 'Risk exposure and acquisition of macroeconomic information', American Economic Review: Insights, bind 4, nr. 1, s. 34-53. https://doi.org/10.1257/aeri.20200662

APA

Settele, S., Wohlfart, J., & Roth, C. (2022). Risk exposure and acquisition of macroeconomic information. American Economic Review: Insights, 4(1), 34-53. https://doi.org/10.1257/aeri.20200662

Vancouver

Settele S, Wohlfart J, Roth C. Risk exposure and acquisition of macroeconomic information. American Economic Review: Insights. 2022;4(1):34-53. https://doi.org/10.1257/aeri.20200662

Author

Settele, Sonja ; Wohlfart, Johannes ; Roth, Christopher. / Risk exposure and acquisition of macroeconomic information. I: American Economic Review: Insights. 2022 ; Bind 4, Nr. 1. s. 34-53.

Bibtex

@article{9ecef7379ee9464a8f693839d331cf18,
title = "Risk exposure and acquisition of macroeconomic information",
abstract = "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{\textquoteright} 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.",
author = "Sonja Settele and Johannes Wohlfart and Christopher Roth",
year = "2022",
doi = "10.1257/aeri.20200662",
language = "English",
volume = "4",
pages = "34--53",
journal = "American Economic Review: Insights",
issn = "2640-205X",
number = "1",

}

RIS

TY - JOUR

T1 - Risk exposure and acquisition of macroeconomic information

AU - Settele, Sonja

AU - Wohlfart, Johannes

AU - Roth, Christopher

PY - 2022

Y1 - 2022

N2 - 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.

AB - 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.

U2 - 10.1257/aeri.20200662

DO - 10.1257/aeri.20200662

M3 - Journal article

VL - 4

SP - 34

EP - 53

JO - American Economic Review: Insights

JF - American Economic Review: Insights

SN - 2640-205X

IS - 1

ER -

ID: 287690759