This paper tests the conjecture that involuntary job loss erodes trust. Using the German Socio-Economic Panel and considering how trust evolves over a quinquennial time interval, we find that job loss decreases trust by about 9 percent of a standard deviation.
We study the relationship between crowding and performance in the active mutual fund industry. We construct a fund-specific measure of crowding using the equity holdings overlap of 17,364 global funds. Funds in the top decile of crowding underperform passive benchmark funds by 1.4% per year. The impact of crowding on performance cannot be attributed to diseconomies of scale. We explore several mechanisms: ...
DIW Berlin senkt Wachstumsprognose für dieses Jahr deutlich auf 3,0 Prozent – Zu erwartendes Wechselspiel aus Lockerungen, aufflammendem Infektionsgeschehen und erneuten Schließungen trifft vor allem Dienstleistungsbereiche – Zahl der Firmenpleiten dürfte erheblich höher liegen als 2020 – Mehr Tempo bei Pandemiebekämpfung und Zukunftsinvestitionen dringend ...
