Since 2002 the German government seeks to stimulate private retirement savings by means of special allowances and tax … scheme on households' propensities to save in a natural experiment framework. Estimation results from both the German Socio …

subsidization program in Germany. We find that 38% of the aggregate subsidy accrues to the top two deciles of the population, but …

pensionreforms led to an increase in the household savings rate in Germany until about2010. As domestic investment opportunities …. After 2010, private savings remained rather stable, but opportunities to investin Germany declined further. Our simulations … could not absorb these additional sav-ings, they were partly invested abroad. The German current account-to-GDP ratiorose …

In a three-region New Keynesian life-cycle model calibrated to Germany, the Euro area (without Germany) and the rest of … unsynchronized demographic trends by taking those of Germany as given and assuming constant population everywhere else, we are able …

of German households. Similar to most other central European countries, Germany is likely to face a period of increasing …. This study adds to the discussion by providing causal estimates for the effect of transfer receipt on the savings behavior … of households. The model allows for dynamic adjustment and variations in the savings behavior over the wealth …

In this paper, we use a fully anonymized dataset provided by the German Savings Banks Association (DSGV) to analyse … which savings banks have expanded into fee-producing activities more quickly. In addition, we investigate whether their … savings banks with low net interest margins are under greater pressure to expand into fee-producing activities. They further …