Michaela Pagel

Washington University in St. Louis - John M. Olin Business School

One Brookings Drive

Campus Box 1133

St. Louis, MO 63130-4899

United States

  • Washington University in St. Louis - John M. Olin Business School

SCHOLARLY PAPERS

22

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Top 28,972

in Total Papers Downloads

3,712

TOTAL CITATIONS
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SSRN RANKINGS

Top 3,810

in Total Papers Citations

236

Scholarly Papers (22)

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1.

How Does Household Spending Respond to an Epidemic? Consumption During the 2020 COVID-19 Pandemic

Downloads 1,103 (42,243)
Citation 75

How Does Household Spending Respond to an Epidemic? Consumption During the 2020 COVID-19 Pandemic

Number of pages: 36 Posted: 01 Apr 2020 Last Revised: 21 Apr 2020
Scott R. Baker, R.A. Farrokhnia, R.A. Farrokhnia, Steffen Meyer, Michaela Pagel and Constantine Yannelis
Northwestern University, Kellogg School of Management, Department of Finance, Advanced Projects & Applied Research in FintechColumbia University - Columbia Business School, Finance, Aarhus University - Department of Finance, Washington University in St. Louis - John M. Olin Business School and University of Chicago
Downloads 1,030 (45,741)
Citation 15

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Consumption, Coronavirus, COVID-19, Household Finance, Transaction Data

How Does Household Spending Respond to an Epidemic? Consumption During the 2020 Covid-19 Pandemic

NBER Working Paper No. w26949
Number of pages: 35 Posted: 06 Apr 2020 Last Revised: 19 Feb 2023
Scott R. Baker, R. Farrokhnia, Steffen Meyer, Michaela Pagel and Constantine Yannelis
Northwestern University, Kellogg School of Management, Department of Finance, Columbia University - Columbia Business School, Aarhus University - Department of Finance, Washington University in St. Louis - John M. Olin Business School and University of Chicago
Downloads 73 (683,691)
Citation 60

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2.

Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments

Downloads 411 (150,767)
Citation 30

Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-55
Number of pages: 66 Posted: 28 Apr 2020 Last Revised: 16 Sep 2020
Scott R. Baker, R. Farrokhnia, Steffen Meyer, Michaela Pagel and Constantine Yannelis
Northwestern University, Kellogg School of Management, Department of Finance, Columbia University - Columbia Business School, Aarhus University - Department of Finance, Washington University in St. Louis - John M. Olin Business School and University of Chicago
Downloads 322 (195,590)
Citation 1

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Consumption, COVID-19, Stimulus, MPC, Household Finance, Transaction Data

Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments

NBER Working Paper No. w27097
Number of pages: 66 Posted: 05 May 2020 Last Revised: 15 Jan 2023
Scott R. Baker, R. Farrokhnia, Steffen Meyer, Michaela Pagel and Constantine Yannelis
Northwestern University, Kellogg School of Management, Department of Finance, Columbia University - Columbia Business School, Aarhus University - Department of Finance, Washington University in St. Louis - John M. Olin Business School and University of Chicago
Downloads 89 (607,868)
Citation 29

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3.

Gender Quotas and Support for Women in Board Elections

Downloads 309 (206,191)
Citation 3

Gender Quotas and Support for Women in Board Elections

GMU Working Paper in Economics No. 21-04, Columbia Business School Research Paper Forthcoming
Number of pages: 49 Posted: 01 Mar 2021
Marina Gertsberg, Johanna Mollerstrom and Michaela Pagel
University of Melbourne, George Mason University - Department of Economics and Washington University in St. Louis - John M. Olin Business School
Downloads 223 (285,153)

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Gender Quotas and Support for Women in Board Elections

NBER Working Paper No. w28463
Number of pages: 77 Posted: 15 Feb 2021 Last Revised: 01 Jun 2022
Marina Gertsberg, Johanna Mollerstrom and Michaela Pagel
University of Melbourne, George Mason University and Washington University in St. Louis - John M. Olin Business School
Downloads 86 (621,306)
Citation 3

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4.

The Effect of Stock Ownership on Individual Spending, Investments, and Loyalty

Downloads 292 (218,881)

The Effect of Stock Ownership on Individual Spending, Investments, and Loyalty

Columbia Business School Research Paper Forthcoming
Number of pages: 69 Posted: 26 Feb 2021 Last Revised: 02 Nov 2023
Paolina C. Medina, Vrinda Mittal and Michaela Pagel
University of Houston, University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 265 (240,219)

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stock ownership, individual spending, loyalty, fin-tech

The Effect of Stock Ownership on Individual Spending and Loyalty

NBER Working Paper No. w28479
Number of pages: 67 Posted: 22 Feb 2021 Last Revised: 26 Apr 2023
Paolina C. Medina, Vrinda Mittal and Michaela Pagel
University of Houston, University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 27 (1,050,846)

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5.

Expectations-Based Reference-Dependent Preferences and Asset Pricing

Number of pages: 50 Posted: 22 May 2013
Michaela Pagel
Washington University in St. Louis - John M. Olin Business School
Downloads 220 (290,261)
Citation 21

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Expectations-based reference-dependent preferences, asset pricing, equity premium puzzle, predictability

6.

Consumption out of Fictitious Capital Gains and Selective Inattention

Downloads 216 (295,413)

Consumption out of Fictitious Capital Gains and Selective Inattention

Number of pages: 59 Posted: 11 May 2020 Last Revised: 04 Jan 2021
Benjamin Loos, Steffen Meyer and Michaela Pagel
UNSW, Aarhus University - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 179 (350,755)

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Inattention, Disposition Effect, Consumption Out of Stock Market Wealth

The Consumption Effects of the Disposition to Sell Winners and Hold Losers

NBER Working Paper No. w26668
Number of pages: 58 Posted: 22 Jan 2020 Last Revised: 15 May 2022
Benjamin Loos, Steffen Meyer and Michaela Pagel
UNSW, Aarhus University - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 37 (942,973)

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7.

Individual Responses to Realized Gains and Losses

Journal of Finance, Forthcoming, Columbia Business School Research Paper
Number of pages: 72 Posted: 08 Jul 2021
Steffen Meyer and Michaela Pagel
Aarhus University - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 155 (398,162)
Citation 1

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8.

Fintech Adoption Across Generations: Financial Fitness in the Information Age

NBER Working Paper No. w23798
Number of pages: 44 Posted: 11 Sep 2017 Last Revised: 12 Jul 2023
Bruce I. Carlin, Arna Olafsson and Michaela Pagel
University of California, Los Angeles (UCLA) - Anderson School of Management, Copenhagen Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 135 (444,887)
Citation 4

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9.

Expectations-Based Reference-Dependent Life-Cycle Consumption

Number of pages: 70 Posted: 22 May 2013
Michaela Pagel
Washington University in St. Louis - John M. Olin Business School
Downloads 130 (458,558)
Citation 44

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Expectations-based reference-dependent preferences, life-cycle consumption, excess smoothness, excess sensitivity

10.

Patterns of Consumption and Savings around Retirement

Wharton Pension Research Council Working Paper No. 2024-21
Number of pages: 32 Posted: 07 Oct 2024
Arna Olafsson and Michaela Pagel
Copenhagen Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 120 (488,024)

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retirement, spending, savings, consumer debt, consumption

11.

The Retirement-Consumption Puzzle: New Evidence from Personal Finances

NBER Working Paper No. w24405
Number of pages: 53 Posted: 09 Mar 2020 Last Revised: 09 Mar 2023
Arna Olafsson and Michaela Pagel
Copenhagen Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 89 (600,825)
Citation 4

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12.

Fully Closed: Individual Responses to Realized Gains and Losses

NBER Working Paper No. w25542
Number of pages: 48 Posted: 12 Feb 2019 Last Revised: 17 Jun 2022
Steffen Meyer and Michaela Pagel
Aarhus University - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 82 (631,007)
Citation 13

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13.

Fresh Air Eases Work – the Effect of Air Quality on Individual Investor Activity

NBER Working Paper No. w24048
Number of pages: 31 Posted: 28 Nov 2017 Last Revised: 18 Mar 2023
Steffen Meyer and Michaela Pagel
Aarhus University - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 74 (668,152)
Citation 1

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14.

Sticking to Your Plan: The Role of Present Bias for Credit Card Paydown

NBER Working Paper No. w24881
Number of pages: 62 Posted: 06 Aug 2018 Last Revised: 26 Jun 2023
Theresa Kuchler and Michaela Pagel
New York University (NYU) and Washington University in St. Louis - John M. Olin Business School
Downloads 67 (704,393)
Citation 34

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15.

The Ostrich in Us: Selective Attention to Financial Accounts, Income, Spending, and Liquidity

Downloads 63 (726,867)
Citation 2

The Ostrich in Us: Selective Attention to Financial Accounts, Income, Spending, and Liquidity

NBER Working Paper No. w23945
Number of pages: 61 Posted: 23 Oct 2017 Last Revised: 05 Jun 2023
Arna Olafsson and Michaela Pagel
Copenhagen Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 60 (759,130)

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The Ostrich in Us: Selective Attention to Financial Accounts, Income, Spending, and Liquidity

CEPR Discussion Paper No. DP12259
Number of pages: 48 Posted: 11 Sep 2017
Arna Olafsson and Michaela Pagel
Copenhagen Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 3 (1,343,696)
Citation 2
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personal finance, rational inattention, Selective attention

16.

Does Saving Cause Borrowing? Implications for the Co-Holding Puzzle

Journal of Finance, Forthcoming, Olin Business School Center for Finance & Accounting Research Paper No. 2024/13, Columbia Business School Research Paper No. 5004076
Number of pages: 93 Posted: 01 Nov 2024 Last Revised: 26 Nov 2024
Paolina C. Medina and Michaela Pagel
University of Houston and Washington University in St. Louis - John M. Olin Business School
Downloads 54 (782,910)

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saving nudges, credit card borrowing, co-holding puzzle, heterogeneous treatment effects

17.

Beliefs that Entertain

Downloads 52 (796,760)
Citation 1

Beliefs that Entertain

IZA Discussion Paper No. 16877
Number of pages: 53 Posted: 26 Mar 2024
Ashvin Gandhi, Paola Giuliano, Eric Guan, Quinn Keefer, Chase McDonald, Michaela Pagel and Joshua Tasoff
University of California, Los Angeles (UCLA) - Anderson School of Management, University of California, Los Angeles (UCLA) - Anderson School of Management, Riot Games, California State University, San Marcos - Economics, Riot Games, Washington University in St. Louis - John M. Olin Business School and Claremont Colleges - Claremont Graduate University
Downloads 39 (923,624)

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belief-based utility, reference-dependent utility, suspense and surprise, loss aversion, video games, entertainment design

Beliefs that Entertain

NBER Working Paper No. w32295
Number of pages: 52 Posted: 08 Apr 2024
Ashvin Gandhi, Paola Giuliano, Eric Guan, Quinn Keefer, Chase McDonald, Michaela Pagel and Joshua Tasoff
University of California, Los Angeles (UCLA) - Anderson School of Management, University of California, Los Angeles (UCLA) - Anderson School of Management, Riot Games, California State University, San Marcos - Economics, Riot Games, Washington University in St. Louis - John M. Olin Business School and Claremont Colleges - Claremont Graduate University
Downloads 13 (1,236,934)
Citation 1
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18.

Credit Smoothing

NBER Working Paper No. w26354
Number of pages: 71 Posted: 07 Oct 2019 Last Revised: 06 Jul 2023
Sean Hundtofte, Arna Olafsson and Michaela Pagel
Solve Finance, Copenhagen Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 39 (900,346)
Citation 2

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19.

Measurement Error in Imputed Consumption

Downloads 37 (918,718)

Measurement Error in Imputed Consumption

NBER Working Paper No. w25078
Number of pages: 37 Posted: 24 Sep 2018 Last Revised: 10 Jul 2023
Scott R. Baker, Lorenz Kueng, Steffen Meyer and Michaela Pagel
Northwestern University, Kellogg School of Management, Department of Finance, Swiss Finance Institute, Aarhus University - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 37 (942,973)

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Measurement Error in Imputed Consumption

Posted: 24 May 2018
Scott R. Baker, Lorenz Kueng, Michaela Pagel and Steffen Meyer
Northwestern University, Kellogg School of Management, Department of Finance, Swiss Finance Institute, Washington University in St. Louis - John M. Olin Business School and Aarhus University - Department of Finance

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Registry Data, Measurement Error, Retail Investors, Household Portfolios

20.

Does Saving Cause Borrowing?

NBER Working Paper No. w28956
Number of pages: 74 Posted: 28 Jun 2021 Last Revised: 02 Jun 2023
Paolina C. Medina and Michaela Pagel
University of Houston and Washington University in St. Louis - John M. Olin Business School
Downloads 29 (999,195)

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21.

Consumer Surveillance and Financial Fraud

NBER Working Paper No. w31692
Number of pages: 82 Posted: 18 Sep 2023
Bo Bian, Michaela Pagel, Huan Tang and Devesh Raval
University of British Columbia, Washington University in St. Louis - John M. Olin Business School, University of Pennsylvania - The Wharton School and Federal Trade Commission
Downloads 19 (1,118,194)
Citation 1
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22.

Opportunistic Borrowing Before Default? A New Test Using Multiple Delinquent Credit Cards

Number of pages: 42 Posted: 03 Feb 2025 Last Revised: 12 Feb 2025
Constantinos Antoniou, Michaela Pagel and Neil Stewart
University of Warwick - Warwick Business School, Washington University in St. Louis - John M. Olin Business School and University of Warwick - Warwick Business School
Downloads 16 (1,156,521)

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Credit card delinquencies, credit card borrowing, strategic default JEL Codes: G5, D14