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Perceived wealth, cognitive sophistication and behavioral inattention

Assenza, Tiziana; Cardaci, Alberto; Delli Gatti, Domenico - 2019

By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance sheet profiles may be perceived as non fungible in a controlled frictionless environment with no probabilistic attributes. A large majority of subjects indeed have a bias in...

Persistent link: https://www.econbiz.de/10012138808

MPC heterogeneity and household balance sheets

Fagereng, Andreas; Holm, Martin Blomhoff; Natvik, Gisle … - 2018

to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and …

Persistent link: https://www.econbiz.de/10011872933

Consumption patterns of indebted households : unravelling the relevance of fiscal policy

Afonso, António; Rodrigues, Eduardo de Sá Fortes Leitão - 2023

We have investigated the influence of fiscal instruments, notably taxes on income and government spending, on household … consumption in two different samples and two measures of household debt to provide a comprehensive analysis of the topic. We used … government spending or reduced taxes, in the presence of high indebtedness, actually discourage household consumption compared to …

Persistent link: https://www.econbiz.de/10014314290

Households' response to the wealth effects of inflation

Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2023

We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...

Persistent link: https://www.econbiz.de/10014364676

Buffer-stock saving and households' response to income shocks

Fella, Giulio; Frache, Serafin; Koeniger, Winfried - 2016

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

Persistent link: https://www.econbiz.de/10011551036

The burden of unanticipated government spending

Heer, Burkhard; Scharrer, Christian - 2016

We study the impact of a government spending shock on the distribution of income and wealth between cohorts in a dynamic stochastic Overlapping Generations model with two types of households, Ricardian households and rule-of-thumb consumers. We demonstrate that an unexpected increase in...

Persistent link: https://www.econbiz.de/10011458011

Non-parametric preprocessing for the estimation of equivalence scales

Dudel, Christian; Garbuszus, Jan Marvin; Ott, Notburga; … - 2014

Empirically analyzing household behavior usually relies on informal data preprocessing. That is, before an econometric … German micro-data on household expenditure to estimate equivalence scales as a specific example. Our results show that …

Persistent link: https://www.econbiz.de/10010458584

Which households respond to electricity peak pricing amid high levels of electrification?

Garnache, Cloé; Hernæs, Øystein; Imenes, Anders Gravir - 2022

effectiveness of demand-based policies, and their impact across household groups, in a more electrified future. …

Persistent link: https://www.econbiz.de/10013168030

The effects of biased labor market expectations on consumption, wealth inequality, and welfare

Balleer, Almut; Duernecker, Georg; Forstner, Susanne K.; … - 2021

Idiosyncratic labor risk is a prevalent phenomenon with important implications for individual choices. In labor market research it is commonly assumed that agents have rational expectations and therefore correctly assess the risk they face in the labor market. We analyse survey data for the U.S....

Persistent link: https://www.econbiz.de/10012625879

A temporary VAT cut as unconventional fiscal policy

Bachmann, Ruediger; Born, Benjamin; Goldfayn-Frank, Olga; … - 2021

We exploit the unexpected announcement of an immediate, temporary VAT cut in Germany in the second half of 2020 as a natural experiment to study the spending response to unconventional fiscal policy. We use survey and scanner data on households' consumption expenditures and their perceived...

Persistent link: https://www.econbiz.de/10012668478

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