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Differences in Euro-Area Household Finances and Their Relevance for Monetary-Policy Transmission
Hintermaier, Thomas - 2019
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life-cycle incomplete-markets model with a financial asset and...
Persistent link: https://www.econbiz.de/10012859309
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Regional Consumption Responses and the Aggregate Fiscal Multiplier
Dupor, Bill; Karabarbounis, Marios; Kudlyak, Marianna; … - 2022
We use regional variation in the American Recovery and Reinvestment Act (2009-2012) to analyze the effect of government spending on consumer spending. Our consumption data come from household-level retail purchases in the Nielsen scanner data and auto purchases from Equifax credit balances. We...
Persistent link: https://www.econbiz.de/10014083720
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Stimulus Through Insurance : The Marginal Propensity to Repay Debt
Koşar, Gizem; Melcangi, Davide; Pilossoph, Laura; … - 2023
Using detailed micro data, we document that households often use "stimulus" checks to pay down debt, especially those with low net wealth-to-income ratios. To rationalize these patterns, we introduce a borrowing price schedule into an otherwise standard incomplete markets model. Because interest...
Persistent link: https://www.econbiz.de/10014354205
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Job Satisfaction and Co-worker Wages:Status or Signal?
Clark, Andrew E.; Kristensen, Nicolai; … - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
This paper uses matched employer-employee panel data to show that individual jobsatisfaction is higher when other workers in the same establishment are better-paid. Thisruns contrary to a large literature which has found evidence of income comparisons insubjective well-being...
Persistent link: https://www.econbiz.de/10005861654
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The Threat Effect of Participation in Active Labor Market Programs on Job Search Behavior of Migrants in Germany
Bergemann, Annette - 2011
Labor market programs may affect unemployed individuals' behavior before they enroll. Such ex ante effects may differ according to ethnic origin. We apply a novel method that relates self-reported perceived treatment rates and job search behavioral outcomes, such as the reservation wage or...
Persistent link: https://www.econbiz.de/10013129936
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Which Institutions Encourage Entrepreneurs to Create Larger Firms?
Estrin, Saul - 2011
We develop entrepreneurship and institutional theory to explain variation in different types of entrepreneurship across individuals and institutional contexts. Our framework generates hypotheses about the negative impact of higher levels of corruption, weaker property rights and especially...
Persistent link: https://www.econbiz.de/10013129940
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Nonresponse and Focal Point Answers to Subjective Probability Questions
Kleinjans, Kristin J. - 2010
conclusions about the socio-economic factors that determine expectations …
Persistent link: https://www.econbiz.de/10013136709
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Learning About a Class of Belief-Dependent Preferences Without Information on Beliefs
Bellemare, Charles - 2011
We show how to bound the effect of belief-dependent preferences on choices in sequential two-player games without information about the (higher-order) beliefs of players. The approach can be applied to a class of belief-dependent preferences which includes reciprocity (Dufwenberg and...
Persistent link: https://www.econbiz.de/10013120421
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The Future of Retirement and the Pension System : How the Public's Expectations Vary Over Time and Across Socio-Economic Groups
Bissonnette, Luc - 2011
We analyze expectations of the Dutch population of ages 25 and older concerning the future generosity state and … collected on the expectations of Dutch households concerning purchasing power of occupational pensions, eligibility and … how these expectations have changed over time and how they vary with socio-economic characteristics. Exploiting the fact …
Persistent link: https://www.econbiz.de/10013123606
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Gender, Risk and Venture Creation Intentions
Dawson, Christopher J. - 2012
This paper is concerned with whether women are less likely to express business start-up intentions because of a less favourable attitude to risk. Previous research suggests that attitude to risk differs significantly between genders, but has not addressed the question of whether this contributes...
Persistent link: https://www.econbiz.de/10013098820