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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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Life Cycle Saving and Dissaving Revisited Across Three-Tiered Income Groups : Starting Hypotheses, Refinement Through Literature Review, and Ideas for Empirical Testing
Holzmann, Robert - 2019
The lifecycle approach is the workhorse to model saving decisions of individuals. It conjectures individuals preferring a constant consumption stream across their lifecycle saving till retirement and dis-saving thereafter. The reality is often at odd with this assumption giving rise to our...
Persistent link: https://www.econbiz.de/10012861295
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Stock Market Returns and Consumption
Di Maggio, Marco - 2018
This paper employs Swedish data on households' stock holdings to investigate how consumption responds to changes in stock market returns. We instrument the actual capital gains and dividend payments with past portfolio weights. Unrealized capital gains lead to a marginal propensity to consume...
Persistent link: https://www.econbiz.de/10012925516
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Active Choice Framing and Intergenerational Education Benefits : Evidence from the Field
Castleman, Benjamin - 2019
The Post-9/11 GI Bill allows service members to transfer generous education benefits to a dependent. We run a large-scale experiment to test whether active choice framing impacts US Army service members' decision to transfer benefits. Individuals who received email messages framing GI Bill use...
Persistent link: https://www.econbiz.de/10012863832
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Who is a Passive Saver Under Opt-In and Auto-Enrollment?
Goda, Gopi Shah - 2019
growth bias – under two distinct choice environments: an opt-in regime and an auto-enrollment regime.Consistent with our …
Persistent link: https://www.econbiz.de/10012864878
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Predicting Retirement Savings Using Survey Measures of Exponential-Growth Bias and Present Bias
Goda, Gopi Shah - 2018
In a nationally-representative sample, we predict retirement savings using survey-based elicitations of exponential-growth …
Persistent link: https://www.econbiz.de/10012911197
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Africa's Industrialization Prospects : A Fresh Look
Naudé, Wim; Tregenna, Fiona - 2023
This paper identifies the determinants of industrialization in 18 African countries, 1965 to 2018, using various estimators and applying a battery of robustness checks. Industrialization in Africa is driven by historical legacies such as colonialism; geographical factors such as rainfall and...
Persistent link: https://www.econbiz.de/10014351490
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Three Varieties of Africa's Industrial Future
Naudé, Wim - 2019
This paper shows that African economies have generally not de-industrialized, that manufacturing growth is very …
Persistent link: https://www.econbiz.de/10012861275
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The Decline in Entrepreneurship in the West : Is Complexity Ossifying the Economy?
Naudé, Wim - 2019
decline to either the slowing of population growth, and/or growing market concentration, zombie-firm congestion, slower … entrepreneurship in growth theories …
Persistent link: https://www.econbiz.de/10012862486
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Artificial Intelligence, Income Distribution and Economic Growth
Gries, Thomas - 2020
The economic impact of Articial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel … features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the … demand and slow down GDP growth, even in the face of the positive technology shock that AI entails. If the elasticity of …
Persistent link: https://www.econbiz.de/10012825010