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Why do Europeans save? : micro-evidence from the household finance and consumption survey
Horioka, Charles; Ventura, Luigi - 2024
-quarter of total household wealth in Europe provides further corroboration for this finding. …
Persistent link: https://www.econbiz.de/10015047840
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Wealth Effect on Consumption during the Sovereign Debt Crisis : Households Heterogeneity in the Euro Area
Garbinti, Bertrand - 2020
This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within … countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth … are very similar to those obtained on aggregate data and show substantial heterogeneity across countries. The wealth …
Persistent link: https://www.econbiz.de/10012843059
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Wealth Effect on Consumption During the Sovereign Debt Crisis : Households Heterogeneity in the Euro Area
Garbinti, Bertrand - 2020
This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within … countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth … are very similar to those obtained on aggregate data and show substantial heterogeneity across countries. The wealth …
Persistent link: https://www.econbiz.de/10012844559
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Wealth effect on consumption during the sovereign debt crisis : households heterogeneity in the euro area
Garbinti, Bertrand; Lamarche, Pierre; Lecanu, Charlélie; … - 2020
This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within … countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth … are very similar to those obtained on aggregate data and show substantial heterogeneity across countries. The wealth …
Persistent link: https://www.econbiz.de/10012139739
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Managing Households' Expectations with Unconventional Policies
D'Acunto, Francesco - 2020
With a binding effective lower bound on interest rates and large government deficits, conventional policies are unviable and policymakers resort to unconventional policies, which target households' expectations directly. Using unique micro data and a difference-in-differences strategy, we assess...
Persistent link: https://www.econbiz.de/10012848266
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Unemployment and portfolio choice: Does persistence matter?
Kuzin, Vladimir N.; Bremus, Franziska M. - 2010
We use a life cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using...
Persistent link: https://www.econbiz.de/10010291783
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Unemployment and portfolio choice: Does persistence matter?
Bremus, Franziska M.; Kuzin, Vladimir - 2011
Households can rely on private savings or on public unemployment insurance to hedge against the risk of becoming unemployed. These hedging mechanisms are used differently across countries. In this paper, we use a life cycle model to study the effects of unemployment on the portfolio choice of...
Persistent link: https://www.econbiz.de/10010286436
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Unemployment and Portfolio Choice : Does Persistence Matter?
Kuzin, Vladimir - 2010
We use a life cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using...
Persistent link: https://www.econbiz.de/10013144138
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Unemployment and portfolio choice : does persistence matter?
Kuzin, Vladimir; Bremus, Franziska - 2010
We use a life cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using...
Persistent link: https://www.econbiz.de/10003934763
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Unemployment and portfolio choice : does persistence matter?
Bremus, Franziska; Kuzin, Vladimir - 2011 - This version: October 13, 2011
Households can rely on private savings or on public unemployment insurance to hedge against the risk of becoming unemployed. These hedging mechanisms are used differently across countries. In this paper, we use a life cycle model to study the effects of unemployment on the portfolio choice of...
Persistent link: https://www.econbiz.de/10009515596