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Monetary policy and household deleveraging
Harding, Martin; Klein, Mathias - 2019
This study investigates the interrelation between the household leverage cycle, collateral constraints, and monetary … fall in economic activity during periods of household deleveraging. In contrast, monetary policy shocks only have … insignificant effects during a household leveraging state. These results are robust to alternative definitions of leveraging and …
Persistent link: https://www.econbiz.de/10012014247
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Earn more tomorrow : overconfidence, income expectations and consumer indebtedness
Grohmann, Antonia; Menkhoff, Lukas; Merkle, Christoph; … - 2023
This paper examines whether biased income expectations due to overconfidence lead to higher levels of debt-taking. We show suggestive evidence for a link between overconfidence and borrowing behavior in a representative survey of German households (GSOEP-IS). This motivates a laboratory...
Persistent link: https://www.econbiz.de/10014468921
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The incidence of the European Union Emissions Trading System and the role of revenue recycling : empirical evidence from combined industry- and household-level data
Beznoska, Martin; Cludius, Johanna; Steiner, Viktor - 2012
household-level data. By combining data on direct CO2 emissions by production sector from the German Environmental Account with …
Persistent link: https://www.econbiz.de/10009579351
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Estimating risky behavior with multiple-item risk measures : an empirical examination
Menkhoff, Lukas; Sakha, Sahra - 2016
We compare seven established risk elicitation methods and investigate how they robustly explain eleven kinds of risky behavior with 760 individuals. Risk measures are positively correlated; however, their performance in explaining behavior is heterogeneous and, therefore, difficult to assess ex...
Persistent link: https://www.econbiz.de/10011539235
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Measuring state dependence in individual poverty status : are there feedback effects to employment decisions and household composition?
Biewen, Martin (contributor) - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002121750
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"Making Work Pay" in a rationed labour market: the mini-job reform in Germany
Bargain, Olivier; Caliendo, Marco; Haan, Peter; Orsini, … - 2005
To tackle mass unemployment and increase participation rates, the German government over recent years has mainly focused on supply side strategies, including 'making work pay' policies. The 2003 Mini-Job reform introduced an extended subsidy of social security contributions for low wage workers....
Persistent link: https://www.econbiz.de/10003230646
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Wage risk and portfolio choice : the role of correlated returns
König, Johannes; Longmuir, Maximilian - 2021
From standard portfolio-choice theory it is well-understood that background risk, overwhelmingly due to wage risk, is one of the central determinants of individuals’ portfolio composition: higher background risk reduces risky investments. However, if background risk is negatively correlated...
Persistent link: https://www.econbiz.de/10012623685
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Risky asset holdings during Covid-19 and their distributional impact : evidence from Germany
Menkhoff, Lukas; Schröder, Carsten - 2021
We present evidence from a repeated survey on risky asset holdings carried out on a representative sample of the German population six times between April and June 2020. Given the size of the Covid-19 shock, we find little evidence of portfolio rebalancing in April 2020. In May, however,...
Persistent link: https://www.econbiz.de/10012596661
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The heterogeneous effects of social assistence and unemployment insurance : evidence from a life-cycle model of family labor supply and savings
Haan, Peter; Prowse, Victoria - 2023
by age, education, wealth, sex and household composition. In aggregate, social assistance dominates unemployment …
Persistent link: https://www.econbiz.de/10014305682
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Liquidity and the dynamic pattern of asset price adjustment : a global view
Belke, Ansgar; Orth, Walter; Setzer, Ralph - 2009
Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in...
Persistent link: https://www.econbiz.de/10003889489