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来源类型Working Paper
规范类型报告
DOI10.3386/w26352
来源IDWorking Paper 26352
Long-Term Consequences of Growing up in a Recession on Risk Preferences
Hitoshi Shigeoka
发表日期2019-10-07
出版年2019
语种英语
摘要Risk preferences play a fundamental role in individuals’ economic decision-making. We examine whether the historical macroeconomic environment shapes individuals’ willingness to take risks. Using nationally representative samples from Japan and exploiting regional variation in economic conditions, we find that men who experienced severe economic conditions in youth are more risk averse in adulthood and the effect is long-lasting. In addition, those men are less likely to be self-employed and they have longer tenure, which are consistent with elevated risk aversion. This study highlights the importance of experience at a critical period of life on the formation of risk preferences.
主题Microeconomics ; Economics of Information ; Labor Economics ; Labor Supply and Demand ; Other ; Culture
URLhttps://www.nber.org/papers/w26352
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/584023
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Hitoshi Shigeoka. Long-Term Consequences of Growing up in a Recession on Risk Preferences. 2019.
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