Narrow search
Showing 1 - 10 of 76
Cover Image
Differences in euro-area household finances and their relevance for monetary-policy transmission
Hintermaier, Thomas; Koeniger, Winfried - 2019
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …
Persistent link: https://www.econbiz.de/10012142941
Cover Image
Household debt and social interactions
Georgarakos, Dimitris; Haliassos, Michael; Pasini, Giacomo - Center for Financial Studies - 2012
Debt-induced crises, including the subprime, are usually attributed exclusively to supply-side factors. We examine the role of social influences on debt culture, emanating from perceived average income of peers. Utilizing unique information from a household survey representative of the Dutch...
Persistent link: https://www.econbiz.de/10010958772
Cover Image
The heterogeneous response of real estate asset prices to a global shock
Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael - 2022
We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...
Persistent link: https://www.econbiz.de/10014493084
Cover Image
Wealth shocks, unemployment shocks and consumption in the wake of the Great Recession
Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - 2014
We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of …
Persistent link: https://www.econbiz.de/10010420293
Cover Image
The consumption and wealth effects of an unanticipated change in lifetime resources
Jappelli, Tullio; Padula, Mario - 2015
lifetime resources, on the current consumption and wealth accumulation of employees affected by the reform. In line with …
Persistent link: https://www.econbiz.de/10011282352
Cover Image
The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007
We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...
Persistent link: https://www.econbiz.de/10010986371
Cover Image
Consumption smoothing and liquidity income redistribution
Bertola, Giuseppe; Koeniger, Winfried - Center for Financial Studies - 2006
We show theoretically that income redistribution benefits borrowingconstrained individuals more than is implied by standard relative-income and uninsurable-risk considerations. Empirically, we find in international opinion-survey data that younger and lower-income individuals express stronger...
Persistent link: https://www.econbiz.de/10010958531
Cover Image
Dissecting saving dynamics: Measuring wealth, precautionary, and credit effects
Carroll, Christopher D.; Slacalek, Jiri; Sommer, Martin - Center for Financial Studies - 2012
recent substantial rise (2008-2011) can be interpreted using a parsimonious buffer stock model of consumption in the presence …
Persistent link: https://www.econbiz.de/10010958787
Cover Image
Wealth shocks, unemployment shocks and consumption in the wake of the Great Recession
Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - Center for Financial Studies - 2014
We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of …
Persistent link: https://www.econbiz.de/10010958788
Cover Image
Precautionary saving and the marginal propensity to consume out of permanent income
Carroll, Christopher D. - Center for Financial Studies - 2009
The budget constraint requires that, eventually, consumption must adjust fully to any permanent shock to income …
Persistent link: https://www.econbiz.de/10010958808