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Precautionary and entrepreneurial saving: new evidence from German households
Fossen, Frank M.; Rostam-Afschar, Davud - 2009
The well-documented positive correlation between income risk and wealth was interpreted as evidence for high amounts of precautionary wealth in various studies. However, the large estimates emerged from pooling non-entrepreneurs and entrepreneurs without controlling for heterogeneity. This paper...
Persistent link: https://www.econbiz.de/10010271125
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Household savings decision and income uncertainty
Beznoska, Martin; Ochmann, Richard - 2010
This paper empirically investigates the effects of changes in the interest rate as well as transitory income uncertainty on households' consumption-savings decision. Applying a structural demand model to German survey data, we estimate the uncompensated interest rate elasticity for savings, in...
Persistent link: https://www.econbiz.de/10010285757
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Ersparnis und Versorgungsaufwendungen nach Haushaltsgruppen
Bedau, Klaus-Dietrich - 1999
Seit geraumer Zeit geht die gesamtwirtschaftliche Sparquote in Deutschland zurück. Ursächlich dafür sind vor allem die … Sparquote zu. Außerdem beeinflußt die Art der sozialen Sicherung die Höhe der Sparquote. Selbständigen-Haushalte sparen einen … Abschluß von Lebensversicherungen treffen. (Nichtbeamtete) Arbeitnehmer dagegen sparen einen Teil ihres Einkommens nicht …
Persistent link: https://www.econbiz.de/10010260715
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Unemployment and portfolio choice: Does persistence matter?
Kuzin, Vladimir N.; Bremus, Franziska M. - 2010
We use a life cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using...
Persistent link: https://www.econbiz.de/10010291783
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Back on track? Savings puzzles in EU-accession countries
Schrooten, Mechthild; Stephan, Sabine - 2002
After the collapse in the early years of transition, saving rates in many EU-accession countries have recovered and remained stable during recent years. This may indicate that the transformation process has come to an end with regard to savings. Is saving behaviour in EU-accession countries now...
Persistent link: https://www.econbiz.de/10010324197
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Does Macroeconomic Policy Affect Private Savings in Europe? Evidence From a Dynamic Panel Data Model
Schrooten, Mechthild; Stephan, Sabine - 2004
Private savings mirror consumption behavior. In Europe, the dynamic of consumption is very low, and at the same time, savings are increasing. Is this a result of macroeconomic policy? A GMM estimator is used to analyze the determinants of private saving in the EU?s 15 member states. Our main...
Persistent link: https://www.econbiz.de/10010324210
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Global liquidity, world savings glut and global policy coordination
Belke, Ansgar; Gros, Daniel - 2010
The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
Persistent link: https://www.econbiz.de/10010271353
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Private Savings in Eastern European EU-Accession Countries : Evidence From a Dynamic Panel Data Model
Stephan, Sabine; Schrooten, Mechthild - 2003
After the collapse in early transition years, saving rates in Eastern European EU-accession countries have recovered strongly. Is private saving in these countries now driven by the same forces as in the EU? A GMM estimator is applied to analyze the determinants of private saving in both country...
Persistent link: https://www.econbiz.de/10010260699
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Savings in Central Eastern Europe
Schrooten, Mechthild; Stephan, Sabine - 2001
The paper seeks to add to the existing literature on aggregate and private savings by focusing on transition economies. We use panel data over the period 1989-1998 and estimate a fixed-effects model. In Central Eastern European Countries, aggregate and private savings are driven by almost the...
Persistent link: https://www.econbiz.de/10010260767
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Financial risk aversion and household asset diversification
Barasinska, Nataliya; Schäfer, Dorothea; Stephan, Andreas - 2008
This paper explores the relationship between risk attitude and asset diversification in household portfolios. We first examine the impact of manifested risk aversion on the total number of distinct assets held in a portfolio (naive diversification). The second part of the paper focuses on a more...
Persistent link: https://www.econbiz.de/10010291769