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Many consumers below the top of the distribution of a representative population by cognitive abilities barely react to monetary and fiscal policies that aim to stimulate consumption and borrowing, even when they are financially unconstrained and despite substantial debt capacity. Differences in...
Persistent link: https://www.econbiz.de/10012815305
Unique administrative data on a representative population's cognitive abilities, spending, and financials reveal that consumers at or below median cognitive abilities barely react when their incentives to spend or borrow change, even if they earn high incomes and are financially unconstrained...
Persistent link: https://www.econbiz.de/10014285743
Many consumers below the top of the distribution of a representative population by cognitive abilities barely react to monetary and fiscal policies that aim to stimulate consumption and borrowing, even when they are financially unconstrained and despite substantial debt capacity. Differences in...
Persistent link: https://www.econbiz.de/10012617622
Unique administrative data on a representative population's cognitive abilities, spending, and financials reveal that consumers at or below median cognitive abilities barely react when their incentives to spend or borrow change, even if they earn high incomes and are financially unconstrained...
Persistent link: https://www.econbiz.de/10014283722
48 percent on average, and that there is substantial heterogeneity in the distribution. We find that households with low …
Persistent link: https://www.econbiz.de/10010200792
The inheritance tax is often seen as an effective tool to reduce wealth inequality, to raise public budgets if needed … tool for fighting wealth inequality without having distorting effects for the economy. For this purpose, the distributional …
Persistent link: https://www.econbiz.de/10012419216
We study beliefs about wealth inequality and preferences for wealth redistribution. For this, we conduct a large … overestimate their position reduce their aversion to inequality after learning their position, while those who underestimate their … further investigate heterogeneity in treatment effects and present evidence that younger participants decrease their support …
Persistent link: https://www.econbiz.de/10014543737
preferred by the society when ex ante income inequality is relatively low, while a majoritarian system is chosen when income … inequality is relatively high. Moreover, we obtain that consensual democracies should be expected to be ruled more often by …
Persistent link: https://www.econbiz.de/10005648788
Does parental wealth inequality impact next generation labor income inequality? And does a tax on parental wealth …
Persistent link: https://www.econbiz.de/10012597127
Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major redistribution of wealth between households and the government, between nationals and foreigners, and between households within the same country. Two types of monetary policy,...
Persistent link: https://www.econbiz.de/10003773003