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Confronting the Representative Consumer with Household-Size Heterogeneity
Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 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/10008645018
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Consumption, Wealth, Stock and Housing Returns: Evidence from Emerging Markets
Caporale, Guglielmo Maria; Souza, Ricardo M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … wealth held in the form of housing (i.e., when stock and housing assets are substitutes), then they will temporarily reduce …
Persistent link: https://www.econbiz.de/10009322379
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Are Stock and Housing Returns Complements or Substitutes?: Evidence from OECD Countries
Caporale, Guglielmo Maria; Souza, Ricardo M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for …
Persistent link: https://www.econbiz.de/10009322380
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Representative Wealth Data for Germany from the German SOEP: The Impact of Methodological Decisions around Imputation and the Choice of the Aggregation Unit
Frick, Joachim R.; Grabka, Markus M.; Sierminska, Eva M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007
The definition and operationalization of wealth information in population surveys and the corresponding microdata …-data-collection stage may interfere consid-erably with the substantive research question. Looking at wealth data from the German SOEP, this … analysis affects wealth distri-bution and inequality analysis. Obviously, when measured in "per capita household" terms, wealth …
Persistent link: https://www.econbiz.de/10005068905
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Multicointegration in US Consumption Data
Siliverstovs, Boriss - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2003
income and consumption expenditure on the one hand, and the stock of consumers' wealth, which can be considered as cumulative …
Persistent link: https://www.econbiz.de/10005018683
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The Effect of Health and Employment Risks on Precautionary Savings
Geyer, Johannes - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
stable across specifications. There is evidence for a share of precautionary wealth of about 14 to 17 percent. …
Persistent link: https://www.econbiz.de/10009360169
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Global Liquidity, World Savings Glut and Global Policy Coordination
Belke, Ansgar; Gros, Daniel - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 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/10008636402
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Re-examining the Decline in the US Saving Rate: The Impact of Mortgage Equity Withdrawal
Caporale, Guglielmo Maria; Costantini, Mauro; Paradiso, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012
In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may affect the saving rate. We estimate a Vector Error...
Persistent link: https://www.econbiz.de/10010896197
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Savings in Central Eastern Europe
Schrooten, Mechthild; Stephan, Sabine - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 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/10004963633
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The Store-of-Value-Function of Money as a Component of Household Risk Management
Größl, Ingrid; Fritsche, Ulrich - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007
We analyse how money as a store of value affects the decisions of a representative household under diversifiable and non-diversifiable risks given that the central bank successfully stabilizes the rate of inflation at a low level. Assuming exponential utility allows us to derive an explicit...
Persistent link: https://www.econbiz.de/10004963830