Piotr Białowolski

Piotr Białowolski
Kozminski University · Department of Economics

PhD (dr hab.)

About

90
Publications
45,608
Reads
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845
Citations
Citations since 2016
52 Research Items
745 Citations
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2016201720182019202020212022050100150200250
2016201720182019202020212022050100150200250
2016201720182019202020212022050100150200250
Introduction
Piotr Białowolski currently works at Harvard T.H. Chan School of Public Health, where he conducts research on workers' well-being and financial behaviors and financial well-being.
Additional affiliations
April 2018 - March 2022
Harvard University
Position
  • Research Associate
June 2017 - May 2018
Harvard University
Position
  • Fellow
June 2015 - May 2017
Università degli Studi di Torino
Position
  • Fellow

Publications

Publications (90)
Article
The study focused on investigating influence of economic sentiments on household financial decisions. A group of Polish households participated simultaneously in a longitudinal study on financial behavior and a consumer tendency survey. Combination of responses from the two surveys was used to investigate a link between economic situation assessmen...
Article
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This study evaluated the link between financial literacy and household mortgage decisions. To this end, the longitudinal dataset for the US population from the Panel Study of Income Dynamics (PSID) was used. Evidence for links between financial literacy levels and (1) mortgage uptake, (2) mortgage interest rates, and (3) mortgage refinancing decisi...
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Background Both theory and empirical evidence suggest that financial conditions are influential for mental health and might contribute to physical health outcomes. Methods Using longitudinal survey data and health claims data from 1,209 employees in a large U.S. health insurance company, we examined temporal associations between measures of finan...
Article
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This study evaluated the short-term links between different forms of household debt – credit card debt, student debt, debt from relatives, mortgage debt, car debt, and debt arrears – and life satisfaction. To this end, a longitudinal dataset for the US population from the Panel Study of Income Dynamics (PSID) was used and the propensity score diffe...
Article
Purpose Preserving sufficient financial assets is crucial for maintaining the standard of living. The lack of adequate financial cushion can translate into financial hardship at any age, but its effects can be especially severe in later adulthood. The authors evaluate whether financial literacy can prevent individuals from depleting the stock of li...
Chapter
The authors in this book provide a nontechnical approach for practitioners, academics, and students of regulation who are interested in the role of institutions in labor markets. Taken together, the detailed case studies in the book indicate that an increase in the availability of service providers or enhanced competition does not have negative eff...
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Personal factors, such as character strengths, have been shown to be favorably associated with concurrent and future well-being. Positive associations have also been reported between purpose in life and concurrent and subsequent health and well-being. Evidence on antecedents of purpose in life is, however, limited. This study examines whether the a...
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Purpose Excellent character, reflected in adherence to high standards of moral behavior, has been argued to contribute to well-being. The study goes beyond this claim and provides insights into the role of strengths of moral character (SMC) for physical and mental health. Methods This study used longitudinal observational data merged with medic...
Article
Objective: Meaning and purpose in life are recognised health determinants. Evidence on the factors contributing to the experi- ence of meaning and purpose in life is limited. The bidirectional associations between the experience of meaning in life and phys- ical health, emotional ill-being and daily life functioning from a 6-year perspective are ex...
Article
The international movement promoting consumer financial capability started in developed countries and gradually spread to the developing world. Improving consumer financial capability has been perceived as an approach to reducing world poverty and inequality. However, considering the development stages of countries, the best stage for promoting fin...
Article
The article presents empirical evidence for a significant role of stated credit purpose for the level of interest rates paid by the end users of non-mortgage credit (households). Data for the analysis was drawn from two waves of the Household Finance and Consumption Survey. The results of median regression show that, with the exception of credit fo...
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Objectives: Evidence on social stimuli associated with mental health is based mostly on self-reported health measures. We aimed to examine prospective associations between social connectedness and clinical diagnosis of depression and of anxiety. Methods: Longitudinal observational data merged with health insurance data comprising medical informatio...
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PurposeRecognition for work—an act of conveying non-financial appreciation for an outstanding accomplishment or performance—is the top motivator of employee performance and important contributor to psychologically healthy work.Employee recognition programs are offered by many companies and have been shown to retain top talent, increase job satisfac...
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The longitudinal interrelationships between domains of human well-being or flourishing remain understudied empirically. While different aspects of flourishing may be sought as their own end, it is also the case that well-being in one domain may influence well-being in other domains. Using longitudinal data form a sample of employees from a large na...
Article
Psychological traits, such as character strengths, have been already established in experimental studies as factors playing a favorable role for well-being and potentially reducing the risk of depression. Positive associations have been also reported between character strengths and physical fitness, self-reported physical and mental health. Yet, ev...
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The link between higher education and employment is central to the understanding of social stratification and social mobility. We use three theories to analyse the importance of education and credentials in recruitment decisions in European graduate labour markets: human capital (HC), network capital (NC) and reputational capital (RC) theory. Laten...
Chapter
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For decades, the Job Demands-Resources (JD-R) Model has been used in a plethora of studies about the psychosocial and physical conditions associated with job stress or strain, resulting in disability, disease, and/or poor job performance. Simply, job strain occurs in a situation of overwhelming demand in the face of resource scarcity. Many of these...
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Financial fragility is recognized as a substantial issue for individual well-being. Various estimates show that between 46 and 59% of American adults are financially fragile and thus vulnerable in terms of their well-being. We argue that the role of financial control in shaping well-being outcomes-despite being less recognized in the literature tha...
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The study identified the principal professional domains leading to success in legal professions. Based on a sample of 300 Polish attorneys, with the use of confirmatory factor analysis and 22 specific items, four principal domains of success were discerned—professional skills, marketing skills, reputation, and ethics. The evolution of these domains...
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In this article, we develop a measure of complete well-being. The framework is derived from the theoretical model of human flourishing understood as a state in which all aspects of a human life are favorable. The approach extends beyond psychological well-being and reflects the World Health Organization definition of health that not only considers...
Article
Purpose The relationship between debt and happiness is an emerging research topic with significant implications for both theory and practice in economics and business. In China, where the consumer credit market is at an early stage of development, the topic remains under-investigated and the evidence on the debt–well-being link is scarce. The purpo...
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The evidence for a correlation between life satisfaction and job satisfaction is strong; however, it is mostly based on cross-sectional results, which precludes establishing valid causal links between work and well-being. Limited longitudinal research suffers from relatively small sample sizes, narrow focus on a particular professional or national...
Article
This article provides a comprehensive assessment of changes in the quality of legal services in Poland. From 2005 to 2015, changes in the regulatory framework facilitated access to legal professions in Poland, providing a space for employment growth. Our analysis showed that an increase in the number of legal professionals following deregulation di...
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There is a strong belief that in addition to making a profit, companies should act for the benefit of the society. This research has evaluated a novel cooperation model between a non-profit financial institution and a community service provider (a local YMCA) with the overarching aim of advancing customers’ well-being. By offering a financial incen...
Article
This article seeks to explain why households decide to simultaneously hold both credit and savings products. Beyond the arguments of ignorance or behavioural biases commonly used in the literature, our analysis demonstrates that co-holders might be rationally seeking lower interest rates on their consumer credit products. Our analysis reveals that...
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Purpose: We examined the impact of an orientation to promote good—one aspect of strengths of character, understood as having consistent thoughts and taking actions that contribute to the good of oneself and others—on flourishing outcomes. Design: We used data from 2 longitudinal observational studies. The primary study used 2 waves of data collect...
Article
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The current literature's focus on unidirectional effects of psychological and organizational climates at work on work outcomes fails to capture the full relationship between these factors. This article examines whether a psychological climate for caring contributes to specific work outcomes and investigates whether work outcomes support the climate...
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Background The scale and scope of experience of sexual harassment at work among male and female flight attendants was examined. Flight attendants are a predominantly female workforce with an occupational heritage of female and male sexualized stereotypes. Method Data represented perception and prevalence of sexual harassment related to hostile wor...
Article
Purpose The article aims to study the relationship between the assignments of financial management responsibilities and the level of financial literacy within married and cohabitating couples. Design/methodology/approach The link between household financial management and the financial literacy of union partners was examined using dyadic survey da...
Article
Based on a nationally representative sample of adult Poles ( N = 1,004), we examined structural relationships between financial knowledge, skills, confidence, attitudes, and behavior in debt-domain. We found that financial confidence—at least regarding debt-related issues—is tied to debt attitudes and behavior beyond the extent to which the attitud...
Article
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The link between financial attitudes and consumer financial market behaviour is well documented. However, little is known about the role of financial knowledge and skills – the main components of the financial literacy construct – in shaping debt attitudes. This link is especially absent from the gender perspective. This study focuses on consumer d...
Article
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Employer-sponsored health insurance is the most widely spread form of medical coverage in the United States. Substantial portion of the premiums' costs is covered by employers , thus contributing to labor costs for organizations. Although worker health and well-being have become increasingly important for businesses, most of them do not see a direc...
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Understanding reciprocal relationships between specific arenas in life and at work is critical for designing interventions to improve workplace health and safety. Most studies about the links between dimensions of well-being in life and at work have been cross-sectional and usually narrowly focused on one of the dimensions of the work-life well-bei...
Article
Research on flourishing has advanced despite limited knowledge about the extent to which flourishing domains are actually valued. This paper examines support for six flourishing domains – emotional health, physical health, purpose, character strengths, social connectedness, and financial security. A survey of 2,370 randomly sampled employees of a l...
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Workers' mistreatment is a serious problem, particularly for disadvantaged populations in the global garment supply chain who are often subjected to human and labor rights violations. Workplace abuses are believed to originate from human resource management practices, which aim to reduce production costs and achieve inflated production targets. Imp...
Book
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Książka omawia narzędzia pomiaru i prognozowania koniunktury w sektorze bankowym. Przedstawiona jest również kondycja polskiego sektora bankowego oraz ewolucja jego roli w gospodarce w latach 1999–2019.
Article
This paper investigates household financial portfolios in Chile. We use latent class models to identify groups of households according to their financial behavior. The model reveals nine distinct behavioral groups. The two largest groups account for 40% of the population and represent mostly households lacking access to banking sector services. Ove...
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A growing body of research links working environment with employee health and well-being. We argue that greater employee well-being is associated with positive work outcomes, benefits likely vital to business performance. We have expanded the literature on this topic by evaluating these questions within a population of factory workers. To date, stu...
Article
Background: Previous studies of relationship between religiosity, health behaviors and well-being have showed mainly positive relationships, however, are very often limited to results of associative nature and subject to unmeasured confounding. This study focused on evaluating evidence for a positive association between religious service attendanc...
Article
Objectives This study evaluated decisions related to debt and savings on physical health, emotional health and health behaviours. Methods The longitudinal data from the Polish biennial household panel—Social Diagnosis Survey—were used. Evidence for a link between credit/savings and health/health behaviours was presented using three waves of the da...
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This paper empirically investigates patterns in the use of credit and their temporal evolution against socio-economic and behavioural traits of borrowers. Debt holder segments were identified from data contained in three waves (2011, 2013 and 2015) of the biennial panel study of Polish households—Social Diagnosis. Analysis supported claims for a di...
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This study investigates impact of debt arrears and various consequential compensatory actions on self-reported satisfaction with life and the financial situation. The link between financial difficulties and the responses they demand has rarely been translated into satisfaction measures in the past. This study informs the literature about actual con...
Article
Although there is strong advocacy for uptake of both the arts and creative activities as determinants of well-being, longitudinal studies evaluating causal links between attendance to arts and culture events or participation in creative activities and well-being are scarce. If available, results are mostly of an associative nature confirming an int...
Article
The link between financial attitudes and financial market behaviour is well-documented. Yet, little is known about the role of financial knowledge and skills – i.e. main components of financial literacy – for shaping financial attitudes, especially from a gender perspective. Our study focuses on debt literacy and debt attitudes. We conducted a comp...
Article
Full-text available
It is commonly agreed that excessive household financial debts are detrimental to psychological and physical health. Research also demonstrates that housing instability, mortgage indebtedness and mortgage foreclosure negatively influence subjective well-being. In Poland at the beginning of 2015, homeowners with Swiss franc denominated mortgages su...
Article
Latent transition modelling (LTM) was used to forecast household debt patterns. A model based on three waves (2011, 2013 and 2015) and over 36,000 responses from the biennial panel study of Polish households – Social Diagnosis – provided data for these forecasts. Based on the fact that transitions between latent states are shaped by previous latent...
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Background Although there is strong advocacy for uptake of both the arts and creative activities as determinants of individual health conditions, studies evaluating causal influence of attendance at cultural events on population health using individual population data on health are scarce. If available, results are often only of an associative natu...
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It is well documented that academic achievement of students from families of low socioeconomic status (SES) tends to be below their more socially advantaged peers. Several studies have identified factors and conditions that facilitate academic success for disadvantaged students (i.e., promote academic resilience). However, one of the main criticism...
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The article compares forecast quality from two atheoretical models. Neither method assumed a priori causality and forecasts were generated without additional assumptions about regressors. Tendency survey data was used within the Bayesian averaging of classical estimates (BACE) framework and dynamic factor models (DFM). Two methods for regressor sel...
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In this paper we present a novel approach for construction of a leading indicator for household demand for debt, i.e. consumer credit demand index. In order to derive the proper set of indicators we first present a theoretical background for the dimensions of the index. With all dimensions of the index at hand we search for indicators in the State...
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The study identified a sub-group of respondents adopting a negative response style in consumer tendency surveys and investigated their influence on aggregate household inflation expectations. Households prone to negative response style were identified using multi-group latent class models. The data source was the State of the Household Survey, cond...
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We present evidence that micro-level household inflation expectations are influenced by consumer confidence. To account for this impact, using multi-group confirmatory factor analysis, we measure the intertemporal consistency of a model comprising both consumer confidence and inflation expectations. We determine that the model exhibits the property...
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In this paper a novel application of latent factor growth models is applied to responses to the manufacturing industry tendency survey conducted by the Research Institute for Economic Development, Warsaw School of Economics. An approach based on a common factor was assumed to explain variation in time response to specific questions drawn from the s...
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In this paper, we investigate the link between the formal definition of confidence in tendency surveys and its measurement. We advocate for the use of reflective measures in an assessment of the confidence level in both consumer and industrial indicators. Based on the data from Poland’s tendency survey research, we use a multi-group confirmatory fa...
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In this paper, we attempt to investigate the importance of certain external factors on the investment decisions made by Polish companies. With the use of data from the tailor-made Survey on Receivables, we (1) examine factors influencing investment decisions of companies in Poland; (2) assess the relation between branch, company size and investment...
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In this paper we present a mixture of theoretical and survey-based approaches in measuring impact of overdue receivables on the growth path of the Polish economy. The theoretical framework is based on an extension of the Ramsey model. We introduce parameters associated with costs of delayed payments showing their influence on the convergence path....
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In this paper, we evaluated patterns of debt possession among households in Poland by applying multi-group latent class models (MGLCM). Households' debt was investigated from the perspective of value, motive and source. MGLCM were used to conduct a segmentation of households with respect to debt possession and to determine the factors that influenc...
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Multi-Group Confirmatory Factor Analysis (MGCFA) demonstrated the deficiency of the four original European Commission (EC) items for consumer confidence. Fit of the MGCFA model was unacceptable and without scalar invariance, index comparison between study periods was not permissible. This provided clear motivation for a plausible alternative index...
Article
In this article we present four diversified approaches to forecasting main macroeconomic variables without a priori assumptions concerning causality. We include tendency survey data in both the Bayesian averaging of classical estimates (BACE) and the dynamic factor models (DFM) frameworks. With respect to the forecasting models based on BACE we pro...
Article
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In this paper we attempt to investigate the importance of certain external factors on the investment decision among Polish companies. With the use of data from the tailored made Survey on Receivables we examine factors influencing investment decisions of companies in Poland, assess the relation between the branch and company size and importance of...
Article
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With data from the Italian Survey of Household Income and Wealth, we present an Index of Household Financial Condition and quantify with it the position of households between 2004 and 2010. The Index of Household Financial Condition is composed of subjective and objective indicators, which enable to capture differently the existing uncertainty conc...
Article
In this paper, we develop a methodology for forecasting key macroeconomic indicators, based on business survey data. We estimate a large set of models, using an autoregressive specification, with regressors selected from business and household survey data. Our methodology is based on the Bayesian averaging of classical estimates method. Additionall...
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The aim of this paper is to construct a forecasting model oriented on predicting basic macroeconomic variables, namely: the GDP growth rate, the unemployment rate, and the consumer price inflation. In order to select the set of the best regressors, Bayesian Averaging of Classical Estimators (BACE) is employed. The models are atheoretical (i.e. they...