Given the chance, women are more likely than men to opt out of a request to give a charitable donation, a group of economists have found.
The issue of which gender is more generous has been debated for years. A new field experiment conducted by scholars at the University of Chicago and University of California, Berkeley shows that when it’s easy to avoid making a donation, such as not responding to a door-to-door solicitor, women are less likely than men to give. (more…)
Microcredit generally benefits borrowers, according to new research focused on Mexico’s biggest for-profit microlender — but it’s not lifting people out of poverty.
In a multi-year, randomized evaluation of microloans provided by Compartamos Banco, Yale University economist Dean Karlan, with collaborators Manuela Angelucci of the University of Michigan and Jonathan Zinman of Dartmouth College, show there are generally positive effects on average and find little evidence that some borrowers end up worse off while others end up better off. However, the canonical story that microcredit leads to higher enterprise income did not bear fruit. (more…)
ANN ARBOR — Some called it “witchcraft.” Others just watched in awe as their scanned fingerprints were used to pull up their records on a computer.
They were paprika farmers in Malawi participating in a new study that shows fingerprinting can help encourage borrowers to repay their loans.
Like many impoverished countries, Malawi lacks a national identification system. Most of the population lives in rural areas with few government services. Even ID as basic as a birth certificate is rare in the southeastern African nation. (more…)
COLUMBUS, Ohio – If experts thought they knew anything about individual investors, it was this: their emotions lead them to sell winning stocks too soon and hold on to losers too long.
But new research casts doubt on this widely held theory that individual investors’ decisions are driven mainly by their feelings toward losses and gains. In an innovative study, researchers found evidence that individual investors’ decisions are primarily motivated by their beliefs about a stock’s future. (more…)
Stephen Roach is a respected authority on Asia — China in particular — and an often-cited and widely recognized prophet on the global economy.
Until recently chair of Morgan Stanley Asia and long the firm’s chief economist, Roach came to Yale in 2010 as a senior fellow in the newly inaugurated Jackson Institute for Global Affairs, with a joint appointment at the School of Management (SOM). This spring Roach announced he would be retiring from Morgan Stanley after 30 years with the firm to teach full time at Yale.
YaleNews recently met with the economist in his office to discuss his new career as a teacher and to get his prognosis on the future of the world economy. (more…)
ANN ARBOR, Mich.— Consumer confidence remained largely unchanged at improved levels in April as consumers were still hopeful about future job gains despite disappointing recent developments, according to economist Richard Curtin, director of the Thomson Reuters/University of Michigan Surveys of Consumers.
The Surveys, conducted by the U-M Institute for Social Research, have been monitoring consumer attitudes and expectations for over 60 years. (more…)
In Guardians of Finance, economists Ross Levine, James R. Barth, and Gerard Caprio Jr. argue that the financial meltdown of 2007 to 2009 was no accident — it was negligent homicide. Levine speaks with Deb Baum about how that happened, what can be done, and why the home team always seems to win.
A new book co-authored by Brown University economist Ross Levine argues that the reason the United States suffers financial crises time and time again is because the major regulatory agencies — the so-called “guardians of finance” — do not work for the public. Instead, they frequently work in the best interests of the financial services industry, the very entities they are supposed to be regulating. Guardians of Finance: Making Regulators Work for Us, published in February by MIT Press, goes beyond telling us what went wrong. The authors also suggest reforms needed to prevent the next crisis. (more…)
*Microsoft CEO Steve Ballmer, economist Jeffrey Sachs, and Foursquare founder and CEO Dennis Crowley opened the Imagine Cup 2011 World Finals on Friday night. The competition heated up over the weekend with the first set of finalists being announced Sunday night.*
NEW YORK CITY – Microsoft CEO Steve Ballmer inspired them to be great, economist Jeffrey Sachs gave them the homework assignment of saving the world, and Foursquare founder and CEO Dennis Crowley showed them how tangibly close they are to success.
Students representing 70 countries and regions descended on New York City over the weekend to participate in the Imagine Cup 2011 Worldwide Finals, which challenges students from across the globe to use technology to solve world problems like feeding the hungry, fighting disease, and creating new forms of energy. Finalists in the competition’s nine categories were announced on Sunday and the overall winners will be announced on Wednesday. (more…)
