The Effect of Wealth on Individual and Household Labor Supply: Evidence from Swedish Lotteries

Cesarini, David; Lindqvist, Erik; Notowidigdo, Matthew; Östling, Robert

doi:10.1257/aer.20151589

Cited by 231 publications

(177 citation statements)

References 37 publications

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“…of other contexts. 12 In terms of nomenclature, some papers in this lottery-winner literature refer to lottery wins as income shocks (e.g., Kuhn et al, 2011), while others refer to lottery wins as wealth shocks (e.g., Cesarini, Lindqvist, Notowidigdo, and Ostling, 2017). In this paper, while we use the term income shocks for a lottery win, it would also be possible to use the term wealth shocks, given that a lottery win can be considered either a wealth shock or an income shock.…”

Section: Contribution To the Literaturementioning

confidence: 99%

Peers’ Income and Financial Distress: Evidence from Lottery Winners and Neighboring Bankruptcies

Agarwal

Mikhed

Scholnick

2018

Working Paper (Federal Reserve Bank of Philadelphia)

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We examine whether relative income differences among peers can generate financial distress. Using lottery winnings as plausibly exogenous variations in the relative income of peers, we find that the dollar magnitude of a lottery win of one neighbor increases subsequent borrowing and bankruptcies among other neighbors. We also examine which factors may mitigate lenders' bankruptcy risk in these neighborhoods. We show that bankruptcy filers obtain more secured but not unsecured debt, and lenders provide additional credit to low-risk but not high-risk debtors. In addition, we find evidence consistent with local lenders taking advantage of soft information to mitigate credit risk.

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Section: Contribution To the Literaturementioning

confidence: 99%

Peers’ Income and Financial Distress: Evidence from Lottery Winners and Neighboring Bankruptcies

Agarwal

Mikhed

Scholnick

2018

Working Paper (Federal Reserve Bank of Philadelphia)

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“…Work and retirement decisions. Previous literature has identified a number of factors that influence work and retirement decisions, including job loss (Chan and Stevens 2004), health insurance (Johnson et al 2003;French and Jones 2011), out-of-pocket health care costs (Johnson et al 2008), housing wealth (Begley and Chan 2018;Ondrich and Falevich 2016), stock market performance (Goda et al 2012), inheritances (Brown et al 2010), and lottery winnings (Cesarini et al 2017). Using the Health and Retirement Study (HRS), Begley and Chan (2018) find that older men who experience moderately negative shocks to their home values respond by delaying their retirement and their receipt of social security, and in some cases, if already retired, by reversing their retirement.…”

Section: Introductionmentioning

confidence: 99%

Is Rising Household Debt Affecting Retirement Decisions?

Butrica

Karamcheva

2019

SSRN Journal

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Household debt among older Americans approaching retirement has increased dramatically over the past couple of decades. Older households have become increasingly more indebted and more leveraged. While mortgages remain the predominant type of debt among households in their 50s and 60s, in recent years, student loan debt has also risen among these households. Using household survey data to examine how late life debt affects retirement decisions, we find that more indebted older adults are more likely to work, less likely to be retired, and on average expect to work longer than those with less debt. AbstractHousehold debt among older Americans approaching retirement has increased dramatically over the past couple of decades. Older households have become increasingly more indebted and more leveraged. While mortgages remain the predominant type of debt among households in their 50s and 60s, in recent years, student loan debt has also risen among these households. Using household survey data to examine how late life debt affects retirement decisions, we find that more indebted older adults are more likely to work, less likely to be retired, and on average expect to work longer than those with less debt.

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“…Mientras que en la provincia de Manitoba (Canadá) se implementó un experimento de impuestos negativos sobre la renta y no se encontraron efectos estadísticamente significativos en la oferta de trabajo (Hum y Simpson, 1993) 17 18 . Por último, Cesarini et al (2017) encuentra que ganar un premio de lotería reduce muy modestamente la oferta de trabajo. En conclusión, a grandes rasgos, los resultados obtenidos de las evaluaciones de impacto de las rentas mínimas y universales no muestran, en media, una reducción de la oferta de trabajo, sin embargo, los resultados no siempre son homogéneos por grupos poblacionales 19 .…”

Section: Oferta De Trabajounclassified

Renta básica universal y renta mínima: ¿soluciones para el futuro?

García¹

2019

Revista ICE

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En los últimos años, los sistemas de renta básica universal y los sistemas de renta mínima se han situado en el centro del debate público. Este artículo plantea el papel que jugarían estas políticas ante los retos del futuro, como la revolución digital y la globalización, y compara ambos sistemas de transferencias, así como las posibles consecuencias que puede tener su implementación. Además, este artículo recopila evidencia empírica con el objetivo de ayudar a entender los efectos potenciales de estas políticas. Universal basic income and minimum income: solutions for the future?In recent years, systems of universal basic income and systems of minimum income have been at the centre of public debate. This article discusses the role that these policies could play in the face of the challenges of the future, such as the digital revolution and globalisation, and compares both transfer systems, as well as the possible consequences of their implementation. In addition, this article collates empirical evidence in an effort to help us understand the potential effects of these policies.Palabras clave: renta básica, renta mínima, pobreza, desigualdad.

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The Effect of Wealth on Individual and Household Labor Supply: Evidence from Swedish Lotteries

Cited by 231 publications

References 37 publications

Peers’ Income and Financial Distress: Evidence from Lottery Winners and Neighboring Bankruptcies

Peers’ Income and Financial Distress: Evidence from Lottery Winners and Neighboring Bankruptcies

Is Rising Household Debt Affecting Retirement Decisions?

Renta básica universal y renta mínima: ¿soluciones para el futuro?

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