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Household Debt and Social Interactions
(2013-12-06)
Can concern with relative standing, which has been shown to influence consumption and labor supply, also increase borrowing and the likelihood of financial distress? We find that perceived peer income contributes to debt ...
Incompatible European Partners? Cultural Predispositions and Household Financial Behavior
(2015-01-27)
The Eurozone fiscal crisis has created pressure for institutional harmonization, but skeptics argue that cultural predispositions can prevent convergence in behavior. Our paper derives a robust cultural classification of ...