Policy Uncertainty and Information Flows: Evidence from Pension Reform Expectations*

Ciani, E; Delavande, A; Etheridge, B; Francesconi, M

Policy Uncertainty and Information Flows: Evidence from Pension Reform Expectations*

Ciani, E Delavande, A

Etheridge, B Francesconi, M

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Publisher:: Oxford University Press (OUP)
Publication Type:: Journal Article
Citation:: The Economic Journal, 2022, 133, (649), pp. 98-129
Issue Date:: 2022-09-22

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Field	Value	Language
dc.contributor.author	Ciani, E
dc.contributor.author	Delavande, A https://orcid.org/0000-0001-8691-6359
dc.contributor.author	Etheridge, B
dc.contributor.author	Francesconi, M
dc.date.accessioned	2023-01-17T02:58:26Z
dc.date.available	2023-01-17T02:58:26Z
dc.date.issued	2022-09-22
dc.identifier.citation	The Economic Journal, 2022, 133, (649), pp. 98-129
dc.identifier.issn	0013-0133
dc.identifier.issn	1468-0297
dc.identifier.uri	http://hdl.handle.net/10453/165058
dc.description.abstract	<jats:title>Abstract</jats:title> <jats:p>We examine how workers’ expectations about pension reform vary with proximity to reforms, information availability and worker characteristics. Using newly collected data, we find that (1) expectations about reform are revised upward by about 10 percentage points in the year prior to a reform, from a median of 50%, regardless of whether the reform is announced; (2) expectations increase more the stronger the media activity about imminent reforms; (3) the effect of information on expectations varies systematically with characteristics that proxy cognitive ability and information value; (4) expectations do not converge as a result of reform announcements or implementations.</jats:p>
dc.language	en
dc.publisher	Oxford University Press (OUP)
dc.relation.ispartof	The Economic Journal
dc.relation.isbasedon	10.1093/ej/ueac050
dc.rights	info:eu-repo/semantics/openAccess
dc.subject	14 Economics
dc.subject.classification	Economics
dc.title	Policy Uncertainty and Information Flows: Evidence from Pension Reform Expectations*
dc.type	Journal Article
utslib.citation.volume	133
utslib.for	14 Economics
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Economics Discipline
utslib.copyright.status	open_access	*
dc.date.updated	2023-01-17T02:58:25Z
pubs.issue	649
pubs.publication-status	Published
pubs.volume	133
utslib.citation.issue	649

Abstract:

Abstract We examine how workers’ expectations about pension reform vary with proximity to reforms, information availability and worker characteristics. Using newly collected data, we find that (1) expectations about reform are revised upward by about 10 percentage points in the year prior to a reform, from a median of 50%, regardless of whether the reform is announced; (2) expectations increase more the stronger the media activity about imminent reforms; (3) the effect of information on expectations varies systematically with characteristics that proxy cognitive ability and information value; (4) expectations do not converge as a result of reform announcements or implementations.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/165058