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Borrower-based macroprudential (MP) policies - such as caps on loan-to-value (LTV) ratios and debt-service-to-income (DSTI) limits - contain the build-up of systemic risk by reducing the probability and conditional impact of a crisis. While LTV/DSTI limits can increase inequality at...
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Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data … across countries, household-characteristics, and major items of the households' balance sheets such as cash-on-hand, liquid …
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Wie könnte die Alterssicherung im Jahr 2030 aussehen? Diese Arbeit verbindet die privaten Haushalte, den Produktionssektor, die Rentenversicherung und die Bevölkerungsentwicklung in einem allgemeinen Gleichgewichtsmodell und analysiert die makroökonomischen Auswirkungen des demographischen...
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automatically granted a more generous old-age pension benefits replacement rate, called the household replacement rate. Following a … adequacy measures. Specifically, we test whether the household replacement rate entails a work (dis)incentive mechanism … promoting (harming) pension sustainability and furthermore, we analyse the role of the household replacement rate in old …
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