Using a structural life-cycle model, we quantify the long-term impact of school closures during the Corona crisis on children affected at different ages and coming from households with different parental characteristics. In the model, public investment through schooling is combined with parental...

In this paper, the relationship between age and household net worth isexamined. The empirical analysis is based on a time-series of four cross-sections of the Finnish household wealth survey. Two different schemesare employed to identify age, cohort and time effects. Time-of-birth isfound to be...

Real estate markets are subject to dynamic, ever-changing influences from location, amenities and neighborhoods; regulation, zoning and population changes; but also - macroeconomic variables, such as interest rates, inflation and economic cycles. The decision to buy or rent a durable,...

When consuming goods provided by public utilities, such as telecommunication, water, gas or electricity, the predominant payment scheme is pay-later billing. This paper identifies one potential consequence of pay-later schemes, present-biased overconsumption of the respective good, and tests the...

We contribute to the literature on how program design affects program performance among vulnerable groups by studying the effects of varying the subsidy level and program procedures in an energy efficiency assistance program targeting low-income households in Germany. Eligible households...

This paper studies how and why consumers respond to unexpected, transitory income shocks. In a randomized control trial, I elicit marginal propensities to consume (MPC) out of different hypothetical income shock scenarios, varying the payment mode, the shock size, and the source of income. The...

Homeownership rates differ widely across European countries. We document that part of this variation is driven by differences in the fraction of adults co-residing with their parents. Comparing Germany and Italy, we show that in contrast to homeownership rates per household, homeownership rates...

This paper examines whether income transparency - the public release of citizens' income information - affects support for redistribution. We leverage a quasi-experiment in Finland, where every year on the so-called tax day, the authorities release income information on Finland's top earners to...

This paper introduces a new method of analysing how the changes in the tax-benefit-system have been reflected in income inequality. This method is a combination of microsimulation based decomposition (Bar gain and Callan, 2010) and a multivariate regression based decompo sition (Fields, 2003; Yun,...

That historical inequality can affect long run macroeconomic performance has been argued by a large literature on endogenous inequality using models of indivisibilities in occupational choice, in the presence of borrowing constraints. These models are characterized by a continuum of steady...