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How do consumers adapt to a new environment in their economic forecasting? Evidence from the German reunification

Goldfayn-Frank, Olga; Wohlfart, Johannes - 2018

Exploiting the natural experiment of the German reunification, we examine how consumers adapt to a new environment in their macroeconomic forecasting. We document that East Germans expect higher inflation and make larger forecast errors than West Germans even decades after reunification....

Persistent link: https://www.econbiz.de/10011937531

Explaining intra-monthly consumption patterns: The timing of income or the timing of consumption commitments?

Vellekoop, Nathanael - 2018

A number of recent studies have concluded that consumer spending patterns over the month are closely linked to the timing of income receipt. This correlation is interpreted as evidence of hyperbolic discounting. I re-examine patterns of spending in the diary sample of the U.S. Consumer...

Persistent link: https://www.econbiz.de/10011941156

What would you do with $500? Spending responses to gains, losses, news, and loans

Fuster, Andreas; Kaplan, Greg; Zafar, Basit - 2018

We use survey questions about spending to investigate features of propensities to consume that are useful for distinguishing between consumption theories. Asking households about their intended spending under various scenarios, we find that 1) responses to unanticipated gains are vastly...

Persistent link: https://www.econbiz.de/10011942788

Triggers and Determinants of Severe Household Indebtedness in Germany

Keese, Matthias - 2009

-) indebtedness which relate household income and debt services to different concepts of subsistence levels, this paper investigates … whether severe household indebtedness is driven by trigger events such as unemployment, childbirth, divorce, or the death of … are likely to cause severe household indebtedness. Unemployment also worsens the relative debt situation mainly due to the …

Persistent link: https://www.econbiz.de/10010265783

Social interaction and stock market participation: Evidence from British panel data

Brown, Sarah; Taylor, Karl - 2010

This paper uses data from the British National Child Development Study to investigate the relationship between social interaction and participation in the stock market through holding stocks and/or shares at the individual level. In accordance with the existing literature, the results reveal...

Persistent link: https://www.econbiz.de/10010269759

Who Feels Constrained by High Debt Burdens? – Subjective vs. Objective Measures of Household Indebtedness

Keese, Matthias - 2010

burden. Using data from the German Socio-Economic Panel, my econometric analysis shows that a household's subjective debt … drastically higher self-assessed debt burdens even when controlling for the overall financial situation of the household … Haushalts stehen. So berichten Frauen eine signifikant höhere subjektive Schuldenbelastung, wenn der Haushalt mit einem …

Persistent link: https://www.econbiz.de/10010269982

What's advertising content worth? Evidence from a consumer credit marketing field experiment

Bertrand, Marianne; Karlan, Dean S.; Mullainathan, Sendhil - 2008

Firms spend billions of dollars each year advertising consumer products in order to influence demand. Much of these outlays are on the creative design of advertising content. Creative content often uses nuances of presentation and framing that have large effects on consumer decision making in...

Persistent link: https://www.econbiz.de/10010270671

The Effect of Saving Subsidies on Household Saving – Evidence from Germanys

Corneo, Giacomo; Keese, Matthias; Schröder, Carsten - 2010

Since 2002 the German government seeks to stimulate private retirement savings by means of special allowances and tax exemptions - the so-called Riester scheme. We apply matching and panel regression techniques to assess the impact of the Riester scheme on households' propensities to save in a...

Persistent link: https://www.econbiz.de/10010272759

Broke, Ill, and Obese: The Effect of Household Debt on Health

Keese, Matthias; Schmitz, Hendrik - 2010

We analyze the effect of household indebtedness on different health outcomes using data from the German Socio … household indebtedness, such as the percentage shares of household income spent on consumer credit and home loan repayments … (which indicate the severity of household indebtedness) and a binary variable of relative overindebtedness (which indicates a …

Persistent link: https://www.econbiz.de/10010273591

Subprime consumer credit demand: evidence from a lender's pricing experiment

Alan, Sule; Dumitrescu, Ruxandra; Loranth, Gyongyi - 2011

We test the interest rate sensitivity of subprime credit card borrowers using a unique panel data set from a UK credit card company. We were given details of a randomized interest rate experiment conducted by the lender between October 2006 and January 2007. Access to such information is rare....

Persistent link: https://www.econbiz.de/10010273685