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Income volatility and residential mortgage delinquency : evidence from 12 EU countries

Diaz-Serrano, Luis (contributor) - 2004 - [Elektronische Ressource]

We investigate the socio-economic determinants of mortgage delinquency in 12 EU countries and observe that income … volatility significantly increases the mortgage delinquency risk. This pattern even holds for borrowers with higher …-income profiles if volatility in income is high enough. From this result we can draw the following conclusions: i) mortgage protection …

Persistent link: https://www.econbiz.de/10002485593

Till debt do us part : strategic divorces and a test of moral hazard

Kim, Yeorim; Mastrogiacomo, Mauro; Hochgürtel, Stefan; … - 2022

debt. We study the Dutch context, where qualifying homeowners can buy into a mortgage guarantee scheme that insures the … administrative data, we find a significant, 44% increase in the probability to divorce for households with an underwater mortgage … mortgage. Their home equity averages to about €-50.000. Couples with similar characteristics just above the qualification …

Persistent link: https://www.econbiz.de/10013329569

The economics of dual job holding : a job portfolio model of labor supply

Renna, Francesco (contributor); … - 2006

In this paper we develop a job portfolio model of dual job holding based on a Stone-Geary utility function. We derive the associated Slutsky equation components. Because the job portfolio model applies only to unconstrained dual jobholders, we separate individuals who moonlight because of an...

Persistent link: https://www.econbiz.de/10003253454

Generational accounting, solidarity and pension losses

Teulings, Coen N. (contributor); … - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001875426

Skewness expectations and portfolio choice

Drerup, Tilman H.; Wibral, Matthias; Zimpelmann, Christian - 2022

Many models of investor behavior predict that investors prefer assets that they believe to have positively skewed return distributions. We provide a direct test of this prediction in a representative sample of the Dutch population. Using individual-level data on return expectations for a broad...

Persistent link: https://www.econbiz.de/10012805556

Genetic ability, wealth, and financial decision-making

Barth, Daniel; Papageorge, Nicholas W.; Thom, Kevin - 2017

Recent advances in behavioral genetics have enabled the discovery of genetic scores linked to a variety of economic outcomes, including education. We build on this progress to demonstrate that the same genetic variants that predict educational attainment independently predict household wealth in...

Persistent link: https://www.econbiz.de/10011613150

Portfolio allocation, income uncertainty and households' flight from risk

Brown, Sarah; Gray, Daniel; Harris, Mark N.; Spencer, … - 2016

Analysing the US Panel Study of Income Dynamics, we present a new empirical method to investigate the extent to which households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach - termed a deflated fractional ordered probit model -...

Persistent link: https://www.econbiz.de/10011594575

Willingness to take risk : the role of risk conception and optimism

Dohmen, Thomas; Quercia, Simone; Willrodt, Jana - 2018

We show that the disposition to focus on favorable or unfavorable outcomes of risky situations affects willingness to take risk as measured by the general risk question. We demonstrate that this disposition, which we call risk conception, is strongly associated with optimism, a stable facet of...

Persistent link: https://www.econbiz.de/10011880595

The distribution of ambiguity attitudes

Gaudecker, Hans-Martin von; Wogrolly, Axel; Zimpelmann, … - 2022

health disparities, health behaviors, dynamic demand, side effects, structural models, HIV/AIDSaThis paper analyzes the stability and distribution of ambiguity attitudes using a broad population sample. Using high-powered incentives, we collected six waves of data on ambiguity attitudes about...

Persistent link: https://www.econbiz.de/10013453995

Higher-order beliefs and risky asset holdings

Gorodnichenko, Yuriy; Yin, Xiao - 2024

We combine a customized survey and randomized controlled trial (RCT) to study the effect of higher-order beliefs on U.S. retail investors' portfolio allocations. We find that investors' higher-order beliefs about stock market returns are correlated with but distinct from their first-order...

Persistent link: https://www.econbiz.de/10014580789

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