全球智库信息集成服务系统(G2TT): Fresh Air Eases Work \u2013 The Effect of Air Quality on Individual Investor Activity

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w24048
来源ID	Working Paper 24048
	Fresh Air Eases Work \u2013 The Effect of Air Quality on Individual Investor Activity
	Steffen Meyer; Michaela Pagel
发表日期	2017-11-27
出版年	2017
语种	英语
摘要	This paper shows that air quality has a significantly negative effect on the likelihood of individual investors to sit down, log in, and trade in their brokerage accounts controlling for investor-, weather-, traffic-, and market-specific factors. In perspective, a one standard deviation increase in fine particulate matter leads to the same reduction in the probability of logging in and trading as a one standard deviation increase in sunshine. We document this effect for low levels of pollution that are commonly found throughout the developed world. As individual investor trading can be a proxy for everyday cognitively-demanding tasks such as office work, our findings suggest that the negative effects of pollution on white-collar work productivity are much more severe than previously thought. To our knowledge, this is the first study to demonstrate a negative impact of pollution on a measure of white-collar productivity at the individual level in a western country.
主题	Microeconomics ; Households and Firms ; Financial Economics ; Portfolio Selection and Asset Pricing ; Labor Economics ; Labor Supply and Demand ; Environmental and Resource Economics ; Environment
URL	https://www.nber.org/papers/w24048
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/581722
推荐引用方式 GB/T 7714	Steffen Meyer,Michaela Pagel. Fresh Air Eases Work \u2013 The Effect of Air Quality on Individual Investor Activity. 2017.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w24048.pdf（795KB）	智库出版物		限制开放	CC BY-NC-SA	浏览