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Inherited Wealth and Demographic Aging
Onder, Harun - 2016
The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the … share of total wealth in a given economy. Thus, aging is not likely to explain a recent surge in this share in some advanced …
Persistent link: https://www.econbiz.de/10012985794
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Does Homeownership Promote Wealth Accumulation?
Kaas, Leo - 2016
wealth is difficult to establish due to many potential sources of endogeneity. Utilizing the Household Finance and … wealth position of the household only through homeownership. For the sample of inheritors we find that the local average … reductions in the net holdings of financial and other real wealth of the treated households …
Persistent link: https://www.econbiz.de/10012996689
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Gambling to Leapfrog in Status?
Friehe, Tim; Mechtel, Mario - CESifo - 2013
This paper shows that households with positional concerns and convex status utility use gambling to attempt leapfrogging in the social hierarchy. We test this theoretical prediction relying on household data that is representative for Germany, proxying the status orientation of households by...
Persistent link: https://www.econbiz.de/10010634081
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How Do Expectations About the Macroeconomy Affect Personal Expectations and Behavior?
Roth, Christopher - 2018
Using a representative online panel from the US, we examine how individuals' macroeconomic expectations causally affect their personal economic prospects and their behavior. To exogenously vary respondents' expectations we provide them with different professional forecasts about the likelihood...
Persistent link: https://www.econbiz.de/10012911043
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Social Networks and Housing Markets
Bailey, Michael - 2016
We document that 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...
Persistent link: https://www.econbiz.de/10012988967
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Gambling to Leapfrog in Status?
Friehe, Tim - 2013
This paper shows that households with positional concerns and convex status utility use gambling to attempt leapfrogging in the social hierarchy. We test this theoretical prediction relying on household data that is representative for Germany, proxying the status orientation of households by...
Persistent link: https://www.econbiz.de/10013083874
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Are Consumers Planning Consumption According to an Euler Equation?
Dräger, Lena - 2017
Evaluating a new survey dataset of German consumers, we test whether individual consumption plans are formed according to an Euler equation derived from consumption life-cycle models. Estimating several consumption Euler equations, the results are mostly in line with the theory: We find evidence...
Persistent link: https://www.econbiz.de/10012964377
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MPC Heterogeneity and Household Balance Sheets
Fagereng, Andreas - 2019
We use sizeable lottery prizes in Norwegian administrative panel data to characterize households' marginal propensities to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and how lottery prizes are spent and saved over time. We...
Persistent link: https://www.econbiz.de/10012898430
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The Joint Distribution of Wealth and Income Risk : Evidence from Bern
Krapf, Matthias - 2018
Using detailed tax data from the Swiss canton of Bern, I examine how changes in wealth are related to income risk. I … find that only among elderly individuals high kurtosis of income risk may be positively correlated with wealth accumulation …. Additionally, I document that a substantial share of taxpayers have negative net wealth. While wealth and income are positively …
Persistent link: https://www.econbiz.de/10012912679
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Differences in Euro-Area Household Finances and Their Relevance for Monetary-Policy Transmission
Hintermaier, Thomas - 2019
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life-cycle incomplete-markets model with a liquid financial asset...
Persistent link: https://www.econbiz.de/10012898763