This paper investigates whether assuming that households possess advance information on their income shocks helps to overcome the difficulty of standard models to understand consumption insurance in the US. As our main result, we find that the quantitative relevance of advance information...

Die Entwicklung des privaten Verbrauchs ist eine entscheidende Größe bei der Erstellung makroökonomischer Prognosen im Rahmen der Volkswirtschaftlichen Gesamtrechnungen. Als erklärende Variable für die Konsumentwicklung spielt damit auch die Ersparnisbildung der Haushalte eine zentrale...

This study investigates alternative equity-based financing models and proposes a waqf-owned (that could also be called philanthropy-, endowment-, trust-, foundation-, and third sector-based) financial intermediary (WOFI). We do so by developing the agent-based model and scenario-based computer...

The effects of social distancing measures on income distributions and aggregate variables are examined with an off-the-shelf heterogeneousagent incomplete-market model. The model shows that social distancing measures, which limit households’ labor supply, can decrease the labor supply of...

The main aim of the study is to identify the size of the pension gap in Poland and to estimate the level of supplementary savings needed to cover it. The issue of pension system income adequacy is first discussed, and the forecasted and targeted levels of replacement rates in Poland are...

This paper analyses the level of inequality in Spain and how it evolved over the course of the past crisis and the early stages of the current recovery. To this end, it first introduces the various dimensions of wage, income, consumption and wealth inequality, and studies how they have...

Wofür und in welchem Ausmaß die privaten Haushalte in Deutschland Geld ausgeben, variiert erheblich mit dem Erwerbsstatus, Einkommen und Alter. Wie die vorliegende Studie auf Basis der aktuellen amtlichen Einkommens- und Verbrauchsstichprobe aus dem Jahr 2013 zeigt, geben Arbeitslosenhaushalte...

On what and to what extent private households in Germany spend money varies significantly depending on employment status, income, and age. As this study based on the most current official sample survey of income and expenditure from 2013 shows, unemployed households on average spend over half of...

This paper examines the impact of income growth and income inequality on household saving rates and payoffs in a non-cooperative game where each player’s payoff depends on her present and future consumption and her rank in the present consumption distribution. The setting is a pooling...