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Benjamin J. Keys

University of Pennsylvania, and NBER, USA

IZA World of Labor is making the research frontier accessible and digestible for policymakers and academics. I’m pleased to contribute to this important effort in service of better evidence-based policy making

IZA World of Labor role

Author

Current position

Rowan Family Foundation Professor, Departments of Real Estate and Finance (Secondary), The Wharton School, University of Pennsylvania, USA

Research interest

Household finance, real estate, applied econometrics, labor economics, urban economics

Website

https://real-estate.wharton.upenn.edu/profile/benkeys/#overview

Past positions

Rowan Family Foundation Associate Professor, Departments of Real Estate and Finance (Secondary), The Wharton School, University of Pennsylvania (2019–2021); Assistant Professor, Harris School of Public Policy, University of Chicago (2011–2016); Economist, Division of Research and Statistics, Federal Reserve Board, Washington, DC (2009–2011)

Qualifications

PhD in Economics, University of Michigan, 2009

Selected publications

  • “Investment over the business cycle: Insights from college major choice.” Journal of Labor Economics (Forthcoming) (with E. Blom and B. C. Cadena).

  • “The credit market consequences of job displacement.” Review of Economics and Statistics 100:3 (2018).

  • “Human capital and the lifetime costs of impatience.” American Economic Journal: Economic Policy 7:3 (2015) (with B. C. Cadena).

  • “Can self-control explain avoiding free money? Evidence from interest-free student loans.” Review of Economics and Statistics 95:4 (2013) (with B. C. Cadena).

  • “The credit market consequences of job displacement." Review of Economics and Statistics 100:3 (2018).

article(s)

  • The labor market consequences of impatience Updated

    Some people would be happier if they were required to stay in school longer or search harder for a job while unemployed

    Brian C. CadenaBenjamin J. Keys, October 2022
    Standard economic theory suggests that individuals know best how to make themselves happy. Thus, policies designed to encourage more forward-looking behaviors will only reduce people's happiness. Recently, however, economists have explored the role of impatience, especially difficulties with delaying gratification, in several important economic choices. There is strong evidence that some people have trouble following through on investments that best serve their long-term interests. These findings open the door to policies encouraging or requiring more patient behaviors, which would allow people to enjoy the eventual payoff from higher initial investment.
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