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Do required minimum distribution 401(k) rules matter, and for whom? : insights from a lifecylce model
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2021
Tax-qualified vehicles helped U.S. private-sector workers accumulate $25Tr in retirement assets. An often …-overlooked important institutional feature shaping decumulations from these retirement plans is the "Required Minimum Distribution" (RMD …) regulation, requiring retirees to withdraw a minimum fraction from their retirement accounts or pay excise taxes on withdrawal …
Persistent link: https://www.econbiz.de/10012668367
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How important is variability in consumer credit limits?
Fulford, Scott L. - 2014 - This version: May 2014; first draft: June 2010
Credit limit variability is a crucial aspect of the consumption, savings, and debt decisions of households in the United States. Using a large panel, this paper first demonstrates that individuals gain and lose access to credit frequently and often have their credit limits reduced unexpectedly....
Persistent link: https://www.econbiz.de/10010414215
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Fiscal policies and household consumption during the COVID-19 pandemic : a review of early evidence
Hackethal, Andreas; Weber, Annika - 2020
We review early evidence on how household consumption behavior has evolved over the pandemic and how different groups of households have responded to fiscal stimulus programs. Due to the scarcity of evidence for Europe, our review focuses on evidence from the US. Notwithstanding the...
Persistent link: https://www.econbiz.de/10012318907
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The Composition Effect of Consumption around Retirement : Evidence from Singapore
Agarwal, Sumit - 2014
declining in the years that follow. Prior research has documented that consumption declines at retirement, which is inconsistent … retirement confirming the results of Aguiar and Hurst (2005, 2013) …
Persistent link: https://www.econbiz.de/10013044705
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Why do Europeans save? : micro-evidence from the household finance and consumption survey
Horioka, Charles; Ventura, Luigi - 2024
criterion to rank them but that the retirement motive is the most important saving motive of European households if the … importance of each saving motive, with saving for the retirement motive being less important in countries with generous public … findings suggest that the retirement motive and the precautionary motive are the dominant motives for saving in Europe partly …
Persistent link: https://www.econbiz.de/10015047840
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The role of MPC heterogeneity for fiscal and monetary policy in the Euro Area
Albacete, Nicolas; Fessler, Pirmin; Pekanov, Atanas - 2024
Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data - we employ data of 22 European countries to assess the role of heterogeneity of the marginal propensity to consume (MPC) for fiscal policy in the Euro area. We document an...
Persistent link: https://www.econbiz.de/10014486919
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Changes in household and general government consumption and savings during the COVID-19 pandemic in the European Union
Crnković, Boris; Rašić, Juraj; Turjak, Sofija - In: Economic review : journal of economics & business 20 (2022) 1, pp. 59-65
In March 2020, the COVID-19 pandemic caused a significant economic shock in countries worldwide, negatively affecting every aspect of the world economy. Due to the situation with the COVID-19 pandemic, governments imposed a lockdown on households to slow the spread of the pandemic. It was...
Persistent link: https://www.econbiz.de/10014466523
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Consumption-savings decisions under upward looking comparisons : evidence from Germany, 2002 - 2011
Drechsel-Grau, Moritz; Schmid, Kai D. - 2013
We demonstrate that interpersonal comparisons lead to "keeping up with the Joneses"-behavior. Using annual household data from the German Socio-Economic Panel, we estimate the causal effect of changes in reference consumption, defined as the consumption level of all households who are perceived...
Persistent link: https://www.econbiz.de/10010190171
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Savings and consumption when children move out
Rottke, Simon; Klos, Alexander - 2013
they were young, retirement preparedness among them is a more serious concern than among childless individuals. …
Persistent link: https://www.econbiz.de/10010241620
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What drives the demand for high-cost consumption loans?
Hansen, Emil Toft - 2022
This paper utilizes high-quality transaction data from the largest bank in Denmark to study what drives the demand for high-cost consumption loans. I investigate the extent to which adverse events drive loan demand, or if it is more likely to be explained by borrowers' personality traits. I find...
Persistent link: https://www.econbiz.de/10013279865