Adam Sheridan

Postdoc, Center for Economic Behavior and Inequality, University of Copenhagen

2nd Floor, Building 35

Øster Farimagsgade 5

1353 Copenhagen K



The Distortive Effect of Too-Big-To-Fail: Evidence from the Danish Market for Retail Deposits

Forthcoming at The Review of Financial Studies

Coauthors: Rajkamal Iyer, Thais Lærkholm Jensen and Niels Johannesen

Working Papers

How do Households Respond to Unemployment Shocks? Lessons from Multiple High-Frequency Data Sets (New draft available soon)

Coauthors: Asger Lau Andersen, Amalie Sofie Jensen, Niels Johannesen, Claus Thustrup Kreiner and Søren Leth-Petersen

Learning About Social Networks from Mobile Money Transfers: Validation and Application to Social Effects on Consumption (Available soon)

Abstract: The increasing popularity of mobile money transfer apps is generating population-scale data on real-world social ties through the social exchange of money. I demonstrate how data from these apps presents researchers with an opportunity to better comprehend social networks and their role in social and economic behavior. I construct a social network from the near universe of person-to-person mobile money transfers in Denmark, based on records from a monopoly app used by 80% of the population. Exploiting complete data on socio-economic indicators, family structure and institutional attachments, I detail the network’s structural properties and their striking accordance with those of known social networks. Combining the network with income, balance sheet and account transaction data, I explore the effects of social networks on consumption decisions. Individuals exposed to a friend losing their job cut back their expenditure in the same month as their displaced friend and their spending remains depressed over the estimation window. The reduction in spending is concentrated on social expenditure, such as food away from home and travel, but also on personal durable expenditures, including home improvements, home furnishings and purchases at department stores. Relative to estimates based on imputed social networks, such as colleagues, my estimates based on actual friendships imply significantly higher social multipliers.

Work in Progress

Bailing out the Kids: New Evidence on Intra-Family Insurance from 1 Billion Bank Transfers

Coauthors: Asger Lau Andersen and Niels Johannesen

Intra-Family Transfers and the Formation of Wealth

Coauthors: Asger Lau Andersen and Niels Johannesen

Consumption Responses to Stock Market Wealth Shocks

Coauthors: Asger Lau Andersen and Niels Johannesen

Other Writing

Tackling Financial Problems Can Require Non-Financial Solutions

MIT Golub Center for Finance and Policy Policy Brief, May 2017

Too-Big vs. Too-Frail?

MIT Golub Center for Finance and Policy Policy Brief, March 2017

Reforms in Higher Education = Higher Quality Provision and Better Informed Choice?

Coauthor: Helen Simpson, Centre for Market and Public Organisation, Research in Public Policy, September 2013