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I study whether monetary gold hoarding was the main cause of the Great Depression in a structural VAR analysis. The … monetary disturbances as shocks to central bank gold demand. Based on a monetary DSGE model, the world gold reserve ratio (the … ratio of central bank gold holdings to monetary liabilities) is used to describe monetary conditions. This permits the use …
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A comprehensive empirical study is performed to measure the performance of a Blockchain-based Certification Storage System in Hyperledger Fabric. This work is based on a proof of concept in the aviation industry and follows a Technical Risk & Efficacy evaluation strategy to determine the utility...
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Im deutschen Einkommensteuersystem wird Ersparnisbildung in Kapitallebensversicherungen durch die Absetzbarkeit der Versicherungsprämien bei der Ermittlung des zu versteuernden Einkommens und durch die Steuerfreiheit der Endausschüttung begünstigt. Die daraus resultierende Steuerersparnis ist...
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Using the Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households’ wealth in fifteen euro area countries, this paper explores how households allocate their assets. We derive stylized facts on asset participation as well as levels of asset holdings and...
Persistent link: https://www.econbiz.de/10010384151
We study an investment experiment conducted with a representative sample of German households. Respondents invest in a safe asset and a risky asset whose return is tied to the German stock market. Experimental investments correlate with beliefs about stock market returns and exhibit desirable...
Persistent link: https://www.econbiz.de/10010413601
Co-investment, often seen as a remedy for agency problems, may incentivize managers to cater to own preferences. We provide evidence that mutual fund managers with considerable co-investment stakes alter risk-taking decisions to prioritize their own tax interests. By exploiting the enactment of...
Persistent link: https://www.econbiz.de/10014422557
We examine financial literacy in Germany and its relevance for financial well-being. Using data from the Panel on Household Finances collected in 2021, we show that about 62% of German households answer the Big Three financial literacy questions correctly. Those with lower education, who are out...
Persistent link: https://www.econbiz.de/10014504767