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US and European Household Debt and Credit Constraints

Crook, Jonathan; Hochguertel, Stefan - Tinbergen Institute - 2007

This paper uses micro data from four OECD countries (the United States, Spain, Italy, and the Netherlands), to assess the determinants of household debt holding and to investigate whether or not credit constraints are important for household debt holding. We extend the existing literature in...

Persistent link: https://www.econbiz.de/10005137368

Competition and Entry in Banking: Implications for Stability and Capital Regulation

Boot, Arnoud W.A.; Marinc, Matej - Tinbergen Institute

We assess the influence of competition and capital regulation on the stability of the banking system. We particularly … show that competition improves the monitoring incentives of better quality banks and deteriorates the incentives of lower … quality banks; and that precisely for those lower quality banks competition typically compromises the effectiveness of capital …

Persistent link: https://www.econbiz.de/10005209515

Mapping the Minds of Retirement Planners

Hershey, Douglas A.; Henkens, Kène; Dalen, Hendrik P. van - Tinbergen Institute - 2006

This study explored the psychological mechanisms that underlie the retirement planning and saving tendencies of Dutch and American workers. Participants were 988 Dutch and 429 Americans, 25-64 years of age. Analyses were designed to: (a) examine the extent to which structural variables were...

Persistent link: https://www.econbiz.de/10005144426

Entrepreneurial Moral Hazard in Income Insurance

Ejrnaes, Mette; Hochguertel, Stefan - Tinbergen Institute - 2008

We study risk behavior of Danish self-employed entrepreneurs, whose income risk may be driven by both exogenous factors and effort choice (moral hazard). Partial insurance is available through voluntary unemployment insurance (UI). Additional incentives to sign insurance contracts stem from a...

Persistent link: https://www.econbiz.de/10005144470

Who is at the Top? Wealth Mobility over the Life Cycle

Hochguertel, Stefan; Ohlsson, Henry - Tinbergen Institute - 2012

Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the wealth distribution over individual life cycles. There are life-cycle motives and precautionary motives for wealth accumulation. The opportunities to accumulate wealth create...

Persistent link: https://www.econbiz.de/10009415515

Competing Risks in a Time on the Market Analysis

Wit, Erik R. de - Tinbergen Institute - 2010

Theoretical models on the selling process in the housing market are scarce. Taylor (1999) specifies a model where time-on-the-market gives a quality signal of the house to potential buyers if inspection outcomes of the house are not public. We specify a duration model with competing risks, where...

Persistent link: https://www.econbiz.de/10008838563

Strategic versus Financial Investors: The Role of Strategic Objectives in Financial Contracting

Arping, Stefan; Falconieri, Sonia - Tinbergen Institute

Strategic investors, such as corporate venture capitalists, engage in the financing of start-up firms to complement their core businesses and to facilitate the internalization of externalities. We argue that while strategic objectives make it more worthwhile for an investor to elicit high...

Persistent link: https://www.econbiz.de/10005016265

Weak & Strong Financial Fragility

Geluk, J.L.; Haan, L. de; Vries, C.G. de - Tinbergen Institute - 2007

The stability of the financial system at higher loss levels is either characterized by asymptotic dependence or asymptotic independence. If asymptotically independent, the dependency, when present, eventually dies out completely at the more extreme quantiles, as in case of the multivariate...

Persistent link: https://www.econbiz.de/10005504968

The Welfare Effects of Discrimination in Insurance

Noll, Rob van der - Tinbergen Institute - 2006

We study an insurance model characterized by a continuum of risk types, private information and a competitive supply side. We use the model to investigate the welfare effects of discrimination (also known as risk selection). We postulate that a test is available that determines whether an...

Persistent link: https://www.econbiz.de/10005137362

Inverse Adverse Selection: The Market for Gems

Dari-Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - Tinbergen Institute - 2011

, contractual, and legal solutions. Our results show that auctions (competition among many informed buyers) provide a solution to …

Persistent link: https://www.econbiz.de/10008838639