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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
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
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
Using high-frequency administrative data covering millions of US homeowners, I document three novel facts about homeowner responses to property tax increases driven by rising home values. First, non-migrating homeowners cut consumption, exhibit financial distress, and do not borrow against their...
Persistent link: https://www.econbiz.de/10014564315
Persistent link: https://www.econbiz.de/10003630847
We quantify the housing-consumption channel in mortgage demand according to which households borrow more following …-prices of 0.82. Counterfactual analysis of the general-equilibrium of housing and mortgage markets shows that, sans housing … house-price increases since housing and non-housing consumption are imperfect substitutes. To identify this channel, we take …
Persistent link: https://www.econbiz.de/10014637339
and endogeneity into account. In our preferred specifications both home equity and the household's amount of mortgage debt … period 2006-2012. Using a large administrative dataset at the household level we estimate how home equity and the outstanding … mortgage amount influence the share of liquid assets held in stocks. We apply different econometric methods to take selection …
Persistent link: https://www.econbiz.de/10011415276
across states shows that the rise in top income shares can explain almost all of the accumulation of household debt held as a … financial asset by the household sector. Since the Great Recession, the saving glut of the rich has been financing government …
Persistent link: https://www.econbiz.de/10012197559
The recently published Household Finance and Consumption Survey has revealed large differences in wealth inequality … between the countries of the Euro area. We find a strong negative correlation between wealth inequality and homeownership … by homeownership status shows that the negative relationship is mostly driven by large between-group inequality across …
Persistent link: https://www.econbiz.de/10011334237
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