Related papers: A Socioeconomic Well-Being Index
The financial industry should be involved in mitigating the risk of downturns in the financial wellbeing indices around the world by implementing well-developed financial tools such as insurance instruments on the underlying wellbeing…
Following the financial crisis of the late 2000s, policy makers have shown considerable interest in monitoring financial stability. Several central banks now publish indices of financial stress, which are essentially based upon market…
Estimating personal well-being draws increasing attention particularly from healthcare and pharmaceutical industries. We propose an approach to estimate personal well-being in terms of various measurements such as anxiety, sleep quality and…
This paper investigates the structural dynamics of stock market volatility through the Financial Chaos Index, a tensor- and eigenvalue-based measure designed to capture realized volatility via mutual fluctuations among asset prices.…
We model systemic risk using a common factor that accounts for market-wide shocks and a tail dependence factor that accounts for linkages among extreme stock returns. Specifically, our theoretical model allows for firm-specific impacts of…
Tracking the build-up of financial vulnerabilities is a key component of financial stability policy. Due to the complexity of the financial system, this task is daunting, and there have been several proposals on how to manage this goal. One…
This paper presents a semi-quantitative mathematical model of the changes over time in the statistical distribution of well-being of individuals in a society. The model predicts that when individuals overvalue the more socially conspicuous…
The literature on well being measurement seems to suggest that "asking" for a self-evaluation is the only way to estimate a complete and reliable measure of well being. At the same time "not asking" is the only way to avoid biased…
Different theories posit different sources for feelings of well-being and happiness. Appraisal theory grounds our emotional responses in our goals and desires and their fulfillment, or lack of fulfillment. Self Determination theory posits…
This study explores the potential of internet search volume data, specifically Google Trends, as an indicator for cross-sectional stock returns. Unlike previous studies, our research specifically investigates the search volume of the topic…
Traditionally, European social policies have focused on material well-being and social justice, neglecting subjective indicators. This review systematically examines the scientific understanding of well-being, its indicators, and its…
I construct a Market Stress Probability Index (MSPI) that estimates the probability of high stress in the U.S. equity market one month ahead using information from the cross-section of individual stocks. Using CRSP daily data, each month is…
The article reviews the history of well-being to gauge how subjective question surveys can improve our understanding of well-being in Mexico. The research uses data at the level of the 32 federal entities or States, taking advantage of the…
High-quality healthcare in the US can be cost-prohibitive for certain socioeconomic groups. In this paper, we examined data from the US Census and the CDC to determine the degree to which specific socioeconomic factors correlate with both…
The goal of this paper is to evaluate the informational content of sentiment extracted from news articles about the state of the economy. We propose a fine-grained aspect-based sentiment analysis that has two main characteristics: 1) we…
The COVID-19 pandemic has generated disruptive changes in many fields. Here we focus on the relationship between the anxiety felt by people during the pandemic and the trust in the future performance of financial markets. Precisely, we move…
Many scholars have recently begun to dispute the assumed link between individual wellbeing and economic conditions and the extent to which the latter matters (Easterlin, 1995; Stevenson and Wolfers 2008; Tella and MacCulloch 2008). This…
Behavioral economics tells us that emotions can profoundly affect individual behavior and decision-making. Does this also apply to societies at large, i.e., can societies experience mood states that affect their collective decision making?…
We introduce a new identification strategy for uncertainty shocks to explain macroeconomic volatility in financial markets. The Chicago Board Options Exchange Volatility Index (VIX) measures market expectations of future volatility, but…
This paper uses daily Behavioral Risk Factor Surveillance System data to estimate the causal effect of the 2024 U.S. presidential election, a highly competitive race whose outcome resolved lingering uncertainty on election day, on…