Showing 1 - 10 of 173
Financial literacy affects wealth accumulation, and pension planning plays a key role in this relationship. In a large field experiment, we employ a digital pension aggregation tool to confront a treatment group with a simplified overview of their current pension claims across all pillars of the...
Persistent link: https://www.econbiz.de/10013399826
How to invest and decumulate wealth during retirement has far-reaching consequences for consumption during retirement. We conduct an online experiment among 2,500 individuals representative of the adult German population. First, we investigate the choice between phased withdrawal plans with...
Persistent link: https://www.econbiz.de/10014311911
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
We exploit a large reform of capital-gains taxation in Germany combined with portfolio-level daily panel data to study the causal effect of taxes on individual stock-trading behavior and the disposition effect. We find substantial spikes in selling probabilities around an intertemporal tax...
Persistent link: https://www.econbiz.de/10012295629
We study an investment experiment 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 external...
Persistent link: https://www.econbiz.de/10012064672
We empirically investigate the distributional consequences of the Riester scheme, the main private pension subsidization program in Germany. We find that 38% of the aggregate subsidy accrues to the top two deciles of the population, but only 7.3% to the bottom two. Nonetheless the Riester scheme...
Persistent link: https://www.econbiz.de/10011281656
In this paper, we study the relationship between intrahousehold bargaining styles, bar-gaining power and individual pension contributions and expected standard of living in retirement, using microdata from the German Panel on Household Finances (PHF) survey. The paper builds on a theoretical...
Persistent link: https://www.econbiz.de/10012697947
This study analyzes portfolio recommendations of financial experts, finding significant differences in portfoliostructure depending on the experts' institutional background. The recommendationsystem from a survey of 250 financial experts from banks, insurance companies, investment funds and...
Persistent link: https://www.econbiz.de/10013428214
The aim of this paper is twofold. First, we present an up-to-date assessment of the differences across euro area countries in the distributions of various measures of debt conditional on household characteristics. We consider three different outcomes: the probability of holding debt, the amount...
Persistent link: https://www.econbiz.de/10010249770
While recent literature has pointed out that migrants ́remittances have a positive impact on savings with financial institutions, findings with respect to access to and the use of loans have been ambiguous. This paper investigates whether the reception of remittances facilitates taking up loans...
Persistent link: https://www.econbiz.de/10010403217