Die Inflationsrate hat im Euroraum zuletzt einen Höchstwert erreicht. Neben der amtlich gemessenen Inflationsrate wurde die subjektive Inflationswahrnehmung hingegen wenig beachtet. Dieser Beitrag füllt diese Lücke, indem auf Grundlage einer repräsentativen Befragung die subjektive...

Using administrative panel data from Norway, we investigate the development of household labor income, financial wealth and asset holdings over a nine-year period surrounding job loss. Consistent with a simple theoretical model, the data show precautionary saving and a shift toward safer assets...

American households have received a triple dose of bad news since the beginning of the current recession: The greatest collapse in asset values since the Great Depression, a sharp tightening in credit availability, and a large increase in unemployment risk. We present measures of the size of...

In this paper, I conduct an analysis of consumption and saving behavior in Japan, looking both at trends over time and comparisons with the other industrialized countries. I find that some of the conventional wisdoms (that the Japanese are asset-rich and hold conservative portfolios) still hold...

The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...

Households' savings increased significantly during the first wave of the corona pandemic in Denmark and several other countries. This Economic Memo finds that the higher savings in Denmark were driven by restrictions rather than precautionary consumers. Precautionary savings have so far been...

This PhD dissertation consists of four self-contained chapters. The first two chapters study how the design of public pension systems affect individuals' behavior. The first chapter studies how pension eligibility ages impact the retirement behavior of couples. The second chapter explores how...

How people perceive and forecast inflation has the potential to impact on a range of economic outcomes. We reveal large, systematic overestimation of inflation by Irish consumers, which varies by social group. In contrast to previous work in this area, our models suggest the upward bias and the...