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Bauluz, Luis; Novokmet, Filip; Schularick, Moritz - 2022

This paper provides a household-level perspective on the rise of global saving and wealth since the 1980s. We calculate asset-specific saving flows and capital gains across the wealth distribution for the G3 economies – the U.S., Europe, and China. In the past four decades, global saving...

Persistent link: https://www.econbiz.de/10013187481

Income and wealth inequality in America, 1949-2013

Kuhn, Moritz; Schularick, Moritz; Steins, Ulrike I. - 2017

This paper studies the distribution of U.S. household income and wealth over the past seven decades. We introduce a newly compiled household-level dataset based on archival data from historical waves of the Survey of Consumer Finances (SCF). Complementing recent work on top income and wealth...

Persistent link: https://www.econbiz.de/10011717045

The roots of cooperation

Bašić, Zvonimir; Bindra, Parampreet Christopher; … - 2021 - This version: 10 June 2021

dilemmas and maintening public goods in human societies. We study the development of cooperation in 929 young children, aged 3 … of defectors is applied. Children also engage in reciprocating others, showing that reciprocity strategies are already … young children fail to anticipate the benefits of reputation building. We also show that the cognitive skills of children …

Persistent link: https://www.econbiz.de/10012547006

The roots of cooperation

Bašić, Zvonimir; Bindra, Parampreet Christopher; … - 2021

We study the development of cooperation in 929 young children, aged 3 to 6. In a unified experimental framework, we … game. We find that third-party punishment doubles cooperation rates in comparison to a control condition. Children also … influence of children's cognitive skills and parents' socioeconomic background on cooperation. …

Persistent link: https://www.econbiz.de/10012668493

Discrimination at young age : experimental evidence from preschool children

Bindra, Parampreet Christopher; Glätzle-Rützler, Daniela - 2018

framed field experiment, we let 142 three to six-year old preschool children allocate a fixed endowment between an in …

Persistent link: https://www.econbiz.de/10011941377

Leveraged bubbles

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - 2015

What risks do asset price bubbles pose for the economy? This paper studies bubbles in housing and equity markets in 17 countries over the past 140 years. History shows that not all bubbles are alike. Some have enormous costs for the economy, while others blow over. We demonstrate that what makes...

Persistent link: https://www.econbiz.de/10011309562

Going to extremes : politics after financial crisis, 1870 - 2014

Funke, Manuel; Schularick, Moritz; Trebesch, Christoph - 2015

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in Europe provide ample evidence that the political aftershocks of financial crises can be severe. In this paper we study the political fall-out from systemic...

Persistent link: https://www.econbiz.de/10011349087

Central bank balance sheets : expansion and reduction since 1900

Ferguson, Niall; Schaab, Andreas; Schularick, Moritz - 2015

In this paper we study the evolution of central banks' balance sheets in 12 advanced economies since 1900. We find that balance sheet size in most developed countries has fluctuated within rather clearly defined bands relative to output. Historically, clusters of big expansions and contractions...

Persistent link: https://www.econbiz.de/10010528949

Sovereigns versus banks : credit, crises, and consequences

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - 2013

Two separate narratives have emerged in the wake of the Global Financial Crisis. One speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and worries about the...

Persistent link: https://www.econbiz.de/10010199757

Betting the house

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10010468583