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Confronting the representative consumer with household-size heterogeneity
Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - 2010
Much analysis in macroeconomics empirically addresses economy-wide incentives behind consumer/investment choices by using insights from the way a single representative household would behave. Heterogeneity at the micro level can jeopardize attempts to back up the representative consumer...
Persistent link: https://www.econbiz.de/10010285745
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Herd behavior in FDA committees: A structural approach
Newham, Melissa; Midjord, Rune - 2018
Many important decisions within public and private organizations are based on recommendations from expert committees and advisory boards. A notable example is the U.S. Food and Drug Administration's advisory committees, which make recommendations on new drug applications. Previously the voting...
Persistent link: https://www.econbiz.de/10011884455
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Do expert panelists herd? Evidence from FDA committees
Newham, Melissa; Midjord, Rune - 2020
We develop a structural model to address the question whether, and to what extent, expert panelists engage in herd behavior when voting on important policy questions. Our data comes from FDA advisory committees voting on questions concerning the approval of new drug applications. We utilize a...
Persistent link: https://www.econbiz.de/10012222110
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The dynamics of earnings in Germany: Evidence from social security records
Bönke, Timm; Giesecke, Matthias; Lüthen, Holger - 2015
This paper uncovers ongoing trends in idiosyncratic earnings volatility across generations by decomposing residual earnings auto-covariances into a permanent and a transitory component. We employ data on complete earnings life cycles forprime age men born 1935 through 1974 that covers earnings...
Persistent link: https://www.econbiz.de/10011372118
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From Bottom to Top: The Entire Distribution of Market Income in Germany, 1992 - 2001
Bach, Stefan; Corneo, Giacomo; Steiner, Viktor - 2007
modest increase in overall inequality of market incomes as measured by the Gini coefficient. However, we also document a … income inequality was stronger in East Germany than in West Germany. In both regions, the income concentration process …
Persistent link: https://www.econbiz.de/10010272712
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Trends in income inequality, pro-poor income growth and income mobility
Jenkins, Stephen P.; van Kerm, Philippe - 2003
We provide an analytical framework within which changes in income inequality over time are related to the pattern of … income inequality grew substantially), and also for income growth to have been pro-poor. Income growth was also pro-poor in … Western Germany, more so than in the USA, and inequality did not rise as much. …
Persistent link: https://www.econbiz.de/10010276926
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A HANK2 model of monetary unions
Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J. - 2023
How does a monetary union alter the impact of business cycle shocks at the household level? We develop a Heterogeneous Agent New Keynesian model of two countries (HANK2) and show in closed form that a monetary union shifts the adjustment to a shock horizontally - across countries - within the...
Persistent link: https://www.econbiz.de/10014309442
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Hicks in HANK: Fiscal responses to an energy shock
Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J. - 2023
The distributional and disruptive effects of energy supply shocks are potentially large. We study the effectiveness of alternative fiscal responses in a two-country HANK model that we calibrate to the euro area. Energy subsidies can stabilize the domestic economy, but are fiscally costly and...
Persistent link: https://www.econbiz.de/10014417637
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The broken elevator: Declining absolute mobility of living standards in germany
Bönke, Timm; Harnack-Eber, Astrid; Lüthen, Holger - 2024
higher income inequality contributed similarly to these trends. …
Persistent link: https://www.econbiz.de/10014474966
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European-wide inequality in times of the financial crisis
Bönke, Timm; Schröder, Carsten - 2015
In view of rising concerns over increasing inequality in the European Union since the financial crisis, this study … provides an inequality decomposition of the overall European income distribution by country. The EU Statistics on Income and … Living Conditions are our empirical basis. Inequality has risen moderately within the core Euro area, particularly in the …
Persistent link: https://www.econbiz.de/10011279519