Instrumental variable (IV) is a commonly used method to estimate the eect of a treatment. It estimates a causal eect if the instrument satises various assumptions, among which a monotonicity condition. This condition restricts the applicability of the IV method, as there are a large number of cases in which it is implausible. I show that IV estimates a… (More)
We study the effect of disclosing information on peers' salaries on workers' job satisfaction and job search intentions. A randomly chosen subset of employees of the University of California was informed about a new website listing the pay of University employees. All employees were then surveyed about their job satisfaction and job search intentions. We… (More)
It is believed that the length of a person's life depends on a mixture of economic and social factors. Yet the relative importance of these is still debated. We provide recent British evidence that marriage has a strong positive effect on longevity. Economics matters less. After controlling for health at the start of the 1990s, we cannot find reliable… (More)
The paper s tudies latent entrepreneurship across nations. There are three main findings. First, large numbers of people in the industrial countries say they would prefer to be self-employed. Top of the international ranking of entrepreneurial spirit come Poland (with 80% saying so), Portugal and the USA; bottom of the table come Norway (with 27% saying… (More)
Using a high-stakes field experiment conducted with a financial brokerage, we implement a novel design to separately identify two channels of social influence in financial decisions, both widely studied theoretically. When someone purchases an asset, his peers may also want to purchase it, both because they learn from his choice (" social learning ") and… (More)
The paper studies job satisfaction levels in the advanced nations. There are five main findings. First, the great majority of workers in the industrial democracies appear to be remarkably content with their jobs. The old Dickensian idea that work subjugates people is apparently not supported by the data. Second, job satisfaction is slowly trending down over… (More)
Oreopoulos and Alois Stutzer for helpful comments and suggestions. Summary This paper considers the issue of unemployment one of the most pressing issues facing the UK and other governments, as the current recessions deepens. It begins by trying to accurately date the beginning of the current downturn in the British economy, arguing that it is clear that… (More)
and two anonymous referees for helpful comments and suggestions. Matt Downer and Wayne Atkins provided valuable research assistance. We are grateful to the Centre for Economic Policy Research, Australian National University for financial support.