Found 6 article(s) for author 'Money'

Are New Graduates Happier Making More Money or Having More Time?

Are New Graduates Happier Making More Money or Having More Time? Ashley Whillans, July 25, 2019, Paper, “Each year across North America, millions of graduates have to make tradeoffs between time and money as they plan their next steps. Despite the importance of these choices, we know surprisingly little about how people navigate major life decisions that involve making more money at the expense of having less time, and vice versa. Researchers asked more than 1,000 graduating college students in Canada whether they generally prioritized time or money. They found that students who prioritized time at graduation were happier and more satisfied with their careers 1 to 2 years later than those who prioritized money. They explored why that might be and how factors like financial security and student debt play a role in people’s decision-making and happiness.Link

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Valuing time over money is associated with greater social connection

Valuing time over money is associated with greater social connection. Ashley Whillans, August 2, 2018, Paper, “Can the trade-offs that people make between time and money shape our social relationships? Across three studies, utilizing self-report (N = 127; N = 249) and behavioral outcomes (N = 358), we provide the first evidence that the chronic orientation to prioritize time over money encourages greater investment in daily social interactions. For example, in Study 2, respondents who valued time spent 18% longer socializing with a new peer than respondents who valued money. These findings could not be explained by extraversion (Study 1) or by demographic characteristics such as age, gender, or socioeconomic status (Studies 1 to 3). Together, these studies suggest that valuing time over money facilitates social connection.Link

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Revisiting Speculative Hyperinflations in Monetary Models: A Reply to Cochrane

Revisiting Speculative Hyperinflations in Monetary Models: A Reply to Cochrane. Kenneth Rogoff, May 17, 2015, Paper, “This paper revisits the debate on ruling out speculative hyperinflations in monetary models. Obstfeld and Rogoff (1983, 1986) argue that in pure fiat money models, where the government gives no backing whatsoever to currency, there is in fact no reasonable way to rule out speculative hyperinflations where the value of money goes to zero, even if the money supply itself is exogenous and constant. Such perverse equilibria are ruled out, however, if the government provides even a very small real backing to the currency, indeed the backing does not have to be certain. Cochrane (2011),Link

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Monetary Policy and Long-Term Real Rates

Monetary Policy and Long-Term Real Rates. Samuel G. Hanson, Jeremy Stein, April 2014, Paper. “Changes in monetary policy have surprisingly strong effects on forward real rates in the distant future. A 100 basis point increase in the two-year nominal yield on an FOMC announcement day is associated with a 42 basis point increase in the ten-year forward real rate. This finding is at odds with standard macro models based on sticky nominal prices, which imply that monetary policy cannot move real rates over a horizon longer than that over which all prices in the economy can readjust…” Link

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Money Creation and the Shadow Banking System

Money Creation and the Shadow Banking System. Adi Sunderam, December 2013, Paper. “It is widely argued that shadow banking grew rapidly before the recent financial crisis because of rising demand for money-like claims. This paper assesses a key premise of this argument that investors actually treated short-term debt issued by shadow banks as a money-like claim. We present a model where demand for money-like claims is satisfied by deposits, Treasury bills, and shadow bank debt. The model provides predictions about the price quantity dynamics of these claims, as well as the behavior of monetary authority…” Link Verified October 12, 2014

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