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Saving and Consumption When Children Move Out

Klos, Alexander; Rottke, Simon - Verein für Socialpolitik - VfS - 2013

Based on the German Socio-economic Panel (SOEP), we show that household consumption drops and saving rises …

Persistent link: https://www.econbiz.de/10010958054

The long Shadow of Socialism: On East-West German Differences in Financial Literacy

Bucher-Koenen, Tabea; Lamla, Bettina - Verein für Socialpolitik - VfS - 2014

We use the German re-unification as a natural experiment to understand drivers of financial literacy accumulation. With the transformation from a planned to a market-based economy in 1990, the incentives to invest in financial literacy were changed exogenously for East Germans and remained the...

Persistent link: https://www.econbiz.de/10011164134

Knowing What Not To Do: Financial Literacy and Consumer Credit Choices

Jaroszek, Lena; Dick, Christian D. - Verein für Socialpolitik - VfS - 2014

We analyze whether the frequent use of credit lines is rational or influenced by behavioral traits of households. We consider the special case of Germany where credit lines on current accounts are available to 80% of the population. We document that the excessive usage of costly credit lines is...

Persistent link: https://www.econbiz.de/10011164151

Corporate cash hoarding in a model with liquidity constraints

Mazelis, Falk - Verein für Socialpolitik - VfS - 2014

This paper studies the role of uncertainty in the corporate cash hoarding puzzle. The baseline model is a stochastic neoclassical growth model featuring idiosyncratic and uninsurable technology shocks and a cash-in-advance constraint on new investments on the individual firm level. Individual...

Persistent link: https://www.econbiz.de/10011212424

The effects of financial literacy training: Evidence from a field experiment in German high schools

Winter, Joachim; Lührmann, Melanie; Serra Garcia, Marta - Verein für Socialpolitik - VfS - 2013

We report the results of a field experiment evaluating the impact of financial literacy training on teenagers between 14 and 16 years in German high schools. After the training, treated teenagers exhibit a significant increase in both interest in financial matters and self-assessed knowledge...

Persistent link: https://www.econbiz.de/10010986034

Discharge of residual debt: Do private and institutional lenders differ?

Kirchkamp, Oliver; Prömpers, Henning - Verein für Socialpolitik - VfS - 2013

With the help of lab experiments we study the impact of discharging insolvent debtors of their residual debt. We investigate the impact of different participation rules and the impact of different types of lenders. We find that higher participation rates encourage risk taking behaviour of...

Persistent link: https://www.econbiz.de/10010986039

Institutional Reform and Depositors’ Portfolio Choice: Evidence from Censored Quantile Regressions

Luik, Marc-André; Berlemann, Michael - Verein für Socialpolitik - VfS - 2014

The determinants of portfolio choice have been studied extensively in the field of household finance. In this paper we study the determinants of the decision to hold risky assets based on a novel dataset of German bank data. Our primary focus is the question whether East Germans di er in their...

Persistent link: https://www.econbiz.de/10011212435

Can Survey Participation Alter Household Saving Behavior?

Winter, Joachim; Crossley, Thomas; de Bresser, Jochem; … - Verein für Socialpolitik - VfS - 2014

Much empirical research in economics is based on data from household surveys. Panel surveys are particularly valuable … for understanding dynamics and heterogeneity. A possible concern with panel surveys is that survey participation itself … country. We exploit randomized assignment to survey modules within the LISS-panel, an internet panel survey which is …

Persistent link: https://www.econbiz.de/10011163934

Rates of Return and Early Retirement Disincentives: Evidence from a German Pension Reform

Lüthen, Holger - Verein für Socialpolitik - VfS - 2014

To counteract aging populations, statutory pay-as-you-go pension systems are subject to fundamental reforms in many Western societies. Starting with cohort 1937, Germany introduced permanent pension deductions for early retirement. This paper examines the evolution of the profitability of...

Persistent link: https://www.econbiz.de/10011163993

Roots of Financial Literacy

Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas - Verein für Socialpolitik - VfS - 2014

Our study aims to uncover the roots of financial literacy. Better financial literacy predicts more informed savings and borrowing decisions in our sample, covering the urban middle-class in an emerging economy. We then test education at school, family background, parental teaching, and childhood...

Persistent link: https://www.econbiz.de/10011164000