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Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations

Hanspal, Tobin - 2020

We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations about retirement age, desired working hours, and household debt, but have...

Persistent link: https://www.econbiz.de/10012835653

Beliefs about the Stock Market and Investment Choices: Evidence from a Field Experiment

Laudenbach, Christine; Weber, Annika; Wohlfart, Johannes - 2021

We survey retail investors at an online bank to study beliefs about the autocorrelation of aggregate stock returns, and how these beliefs shape investment decisions measured in administrative account data. Individuals’ beliefs exhibit substantial heterogeneity and predict trading responses to...

Persistent link: https://www.econbiz.de/10012799727

The Effects of Monetary Policy : Theory with Measured Expectations

Roth, Christopher; Wiederholt, Mirko; Wohlfart, Johannes - 2023

We study the effects of monetary policy on aggregate consumption combining a heterogeneous agent model with measured expectations under different policy counterfactuals. We express the consumption of non-hand-to-mouth households as a function of expectations only and elicit all expectations...

Persistent link: https://www.econbiz.de/10014262696

Nursing Home Aversion Post-Pandemic : Implications for Savings and Long-Term Care Policy

Achou, Bertrand; De Donder, Philippe; Glenzer, Franca; … - 2021

implications for savings and longterm care policies. We first develop a theoretical model predicting that higher nursing home … aversion should induce higher savings and stronger support for policies subsidizing home care. We further document, based on a … likely to have higher intended savings for older age because of the pandemic. We also find that they are more likely to …

Persistent link: https://www.econbiz.de/10013212256

Does Public Employment Affect Household Saving Rates? Evidence from Chinese Household Data

Xu, Can; Steiner, Andreas - 2022

This paper investigates the impact of public employment on household saving rates in China using representative household-level data. After controlling for a series of variables such as income, risk attitude, financial literacy, and demographic factors, we show that households headed by public...

Persistent link: https://www.econbiz.de/10013289689

Policy Uncertainty and Information Flows : Evidence from Pension Reform Expectations

Ciani, Emanuele - 2019

Subjective expectations about future policy play an important role in individuals' welfare. We examine how workers' expectations about pension reform vary with proximity to reforms, information cost, and aggregate information acquisition. We construct a new pan-European dataset of reform...

Persistent link: https://www.econbiz.de/10012861423

Tax incentives, bequest motives, and the demand for life insurance: Evidence from two natural experiments in Germany

Sauter, Nicolas; Walliser, Jan; Winter, Joachim - 2010

Whole life insurance plays an important role in household saving. However, empirical evidence on its determinants is scarce. This paper studies two natural experiments to identify the effects of tax incentives and bequest motives on life-insurance demand. An unanticipated tax reform in 2000...

Persistent link: https://www.econbiz.de/10010270489

Nursing Home Aversion Post-Pandemic: Implications for Savings and Long-Term Care Policy

Achou, Bertrand; De Donder, Philippe; Glenzer, Franca; … - 2021

implications for savings and long-term care policies. We first develop a theoretical model predicting that higher nursing home … aversion should induce higher savings and stronger support for policies subsidizing home care. We further document, based on a … likely to have higher intended savings for older age because of the pandemic. We also find that they are more likely to …

Persistent link: https://www.econbiz.de/10012658001

Social Networks and Housing Markets

Bailey, Michael; Cao, Ruiqing; Kuchler, Theresa; … - 2016

The recent house price experiences within an individual’s social network affect her perceptions of the attractiveness of property investments, and through this channel have large effects on her housing market activity. Our data combine anonymized social network information from Facebook with...

Persistent link: https://www.econbiz.de/10011480488

The Effects of Monetary Policy: Theory with Measured Expectations

Roth, Christopher; Wiederholt, Mirko; Wohlfart, Johannes - 2023

Persistent link: https://www.econbiz.de/10014290126

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