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The purpose of this study is to investigate whether the social outcomes of economic inequality extend to the financial decisions of individual investors, particularly the decision to invest in stocks. Using tax and census data during the 2010-2018 period we find robust evidence that households...
Persistent link: https://www.econbiz.de/10013405431
In this paper we analyze how consumers in Germany updated expectations about inflation in response to the COVID-19 outbreak. We use a fixed effects model to estimate the effect of regional exposure to COVID-19 cases, the stringency of restriction measures and local unemployment rates on...
Persistent link: https://www.econbiz.de/10014000472
In most countries, the prevalent long-term mortgage is variable-rate. The US is an outlier, with 80% fixed-rate mortgages. We link the puzzling US market structure to long-lasting effects of the Great Inflation and structurally estimate the welfare implications. First, sentiment towards...
Persistent link: https://www.econbiz.de/10013219338
In this paper we analyze how consumers in Germany updated expectations about inflation in response to the COVID-19 outbreak. We use a fixed effects model to estimate the effect of regional exposure to COVID-19 cases, the stringency of restriction measures and local unemployment rates on...
Persistent link: https://www.econbiz.de/10014351402
In this paper we analyze how consumers in Germany updated expectations about inƒaflation in response to the COVID-19 outbreak. We use a fixed effects model to estimate the effect of regional exposure to COVID-19 cases, the stringency of restriction measures and local unemployment rates on...
Persistent link: https://www.econbiz.de/10014227597
The first twenty years of the 21st century were a period of transformation and change in the development models of the financial market. One of the strongest in the history world financial crises of 2007-2008 ended the post-deregulation model. Transition to the new financial market model turned...
Persistent link: https://www.econbiz.de/10013215736
In this paper, I study how investing preferences of the relatively young, small, inexperienced, and well-connected individual investors on the Robinhood platform contrast with those of previously-studied individual investors. I find that unlike their predecessors, Robinhood investors do not have...
Persistent link: https://www.econbiz.de/10013405944
News reports and communication are inherently constrained by space, time, and attention. As a result, news sources often condition the decision of whether to share a piece of information on the similarity between the signal and the prior belief of the audience, which generates a sample selection...
Persistent link: https://www.econbiz.de/10012207896
News reports and communication are inherently constrained by space, time, and attention. As a result, news sources often condition the decision of whether to share a piece of information on the similarity between the signal and the prior belief of the audience, which generates a sample selection...
Persistent link: https://www.econbiz.de/10012171711
Using customer data from a large fintech company offering “guaranteed” Euro certificates of deposits from various European banks, we document considerable heterogeneity in offered interest rates for the same maturity across and within countries for such a simple product. We find that 11% of...
Persistent link: https://www.econbiz.de/10014349918