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We demonstrate that interpersonal comparisons lead to "keeping up with the Joneses"-behavior. Using annual household … the consumption level of all households who are perceived to be richer, on household savings and consumption. When …
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or more of their income. On average, every household saved a good 17 percent of their income in 2013. …
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We explore the link between international stock market comovement and the degree to which firms operate globally. Using stock returns and balance sheet data for companies in 20 countries, we estimate a factor model that decomposes stock returns into global, country-specific and industry-specific...
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seasonally integrated relations: This estimation shows the influence of both variables, income and wealth, on consumption. …
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Germany than in the Anglo-Saxon economies and the share of publicly traded equity in household wealth is much smaller in …
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