Teachers Teaching Teachers: The Role of Networks on Financial Decisions, Jordan Nickerson
17 Junio 2016
El Centro de Economía Aplicada del Departamento de Ingenieria Industrial y  El Instituto Milenio para la Investigación en Imperfecciones de Mercado y Políticas Publicas  de la Universidad de Chile, organizó la presentación del siguiente Paper:
 

"Teachers Teaching Teachers: The Role of Networks on Financial Decisions",

a cargo de Jordan Nickerson de Boston College.

 
Abstract
This paper studies the role of peers in the transmission of information pertinent to household financial decisions. Specifically, we examine the effect of peers on the mortgage refinancing decisions of school teachers in Texas by exploiting commonalities in teacher schedules to identify peer groups. Using this source of within-campus variation to separate campus-level unobservable shocks, we find that refinancing activity among a teacher's peers increases her likelihood of refinancing by 9.5%. Peers also affect a teacher's choice of lender. Overall, our findings suggest that a household's cost of acquiring and processing financial information is greatly reduced by interacting with peers.

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El Centro de Finanzas agradece el significativo aporte del Banco de Crédito e Inversiones, BCI, a esta iniciativa