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We study risk taking in a panel of subjects in Wuhan, China - before, during the COVID-19 crisis, and after the country … help unify existing studies by showing that aggregate shocks affect general preferences for risk and economic expectations …, while heterogeneity in experience further affect risk taking through beliefs about individuals' own outcomes such as luck …
Persistent link: https://www.econbiz.de/10012419372
Contrary to the current state of research, we find almost complete reinvestment of dividends among the brokerage clients of a German online bank. Yet, investors do not reinvest most dividends immediately after payment. Initially, the bulk of dividends remains parked as cash in investors’...
Persistent link: https://www.econbiz.de/10013404056
I investigate whether one of the reasons for a significant increase in retail trading during Covid-19 lockdown was the substitution of sports betting with stock trading. I find that the number of retail accounts holding stocks in companies based in states where online sports betting has launched...
Persistent link: https://www.econbiz.de/10014355109
We use monthly credit card data from the Federal Reserve's Y-14M reports to study the early impact of the COVID-19 shock on the use and availability of consumer credit. First, we find that in counties severely affected by the pandemic, creditworthy borrowers reduce their credit card balances and...
Persistent link: https://www.econbiz.de/10012832690
In response to the economic hardships stemming from COVID-19, many U.S. card-issuing banks offered measures to assist their customers who were financially affected by the pandemic. Unlike previous disaster assistance programs that were typically short in duration and localized, the COVID-19...
Persistent link: https://www.econbiz.de/10013306394
In this paper we analyze how consumers in Germany updated expectations about inflation in response to the COVID-19 … restriction measures and local unemployment rates on inflation expectations. We find that consumers who were locally more exposed … to COVID-19 cases report higher inflation expectations. The relationship between the virus spread and inflation …
Persistent link: https://www.econbiz.de/10014351402
In this paper we analyze how consumers in Germany updated expectations about in aflation in response to the COVID-19 … restriction measures and local unemployment rates on inflation expectations. We find that consumers who were locally more exposed … to COVID-19 cases report higher inflation expectations. e relationship between the virus spread and inflation …
Persistent link: https://www.econbiz.de/10014227597
Using friendship data from Facebook, we study the effects of three aspects of social capital on household financial behavior. We find that the most important measure of social capital in explaining stock market and saving participation is Economic Connectedness, defined as the fraction of one's...
Persistent link: https://www.econbiz.de/10014512040
We analyze the behavior of 401(k) plan participants during the first quarter of 2020, when COVID-19 generated historic volatility, large negative returns, and significant unemployment. Only 2% of participants invested in TDFs made any changes to their portfolios, with even lower rates of change...
Persistent link: https://www.econbiz.de/10012831169
Tax-qualified vehicles helped U.S. private-sector workers accumulate {dollar}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...
Persistent link: https://www.econbiz.de/10012655971