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Household Saving Behaviour and Credit Constraints in the Euro Area
Le Blanc, Julia - 2015
We study the role of household saving behaviour, of individual motives for saving and that of perceived liquidity constraints in 15 Euro Area countries. The empirical analysis is based on the Household Finance and Consumption Survey, a new harmonized data set collecting detailed information on...
Persistent link: https://www.econbiz.de/10013020673
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Pensions and Household Savings : Cross-Country Heterogeneity in Europe
d’Addio, Anna - 2020
We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across … heterogeneity in the mean savings offset depending on age, risk attitudes and country. Third, the offset follows different patterns …
Persistent link: https://www.econbiz.de/10012842350
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Consumer savings behaviour at low and negative interest rates
Felici, Marco; Kenny, Geoff; Friz, Roberta - 2022
We study interest rates transmission to savings at low and negative rates. Exploiting cohorts of consumers from a data …-rich multi-country survey, we show how the strength of interest rate transmission to savings varies with the level of nominal … levels, there is evidence that the savings response may even reverse sign. Such a "savings' reversal" is consistent with the …
Persistent link: https://www.econbiz.de/10014278544
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Consumer Savings Behaviour at Low and Negative Interest Rates
Felici, Marco; Kenny, Geoff; Friz, Roberta - 2022
We study interest rates transmission to savings at low and negative rates. Exploiting cohorts of consumers from a data …-rich multi-country survey, we show how the strength of interest rate transmission to savings varies with the level of nominal … levels, there is evidence that the savings response may even reverse sign. Such a “savings’ reversal” is consistent with the …
Persistent link: https://www.econbiz.de/10014236802
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Financial Literacy and Savings Account Returns
Deuflhard, Florian - 2015
Savings accounts are owned by most households, but little is known about the performance of households' investments. We … create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data …
Persistent link: https://www.econbiz.de/10013014617
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Sequential Optimization, Front-Loaded Information, and U.S. Consumption
Willman, Alpo - 2021
In an overlapping generations maximization framework with consumers, whose information on uncertain future income realizations is front-loaded, a closed form aggregate consumption function with CRRA preferences is derived. To have a closed form solution we assume that consumers solve their...
Persistent link: https://www.econbiz.de/10013317049
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Culture and household saving
Guin, Benjamin - 2017
This paper examines the role of culture in households' saving decisions. Exploiting the historical language borders within Switzerland, I isolate the effect of households' exposure to certain language groups from economic, institutional, demographic and geographic factors for a homogeneous and...
Persistent link: https://www.econbiz.de/10011804384
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Buffer-stock saving in a Krusell-Smith world
Carroll, Christopher D.; Slacalek, Jiri; Tokuoka, Kiichi - 2014
A large body of microeconomic evidence supports Friedman (1957)'s proposition that household income can be reasonably well described as having both transitory and permanent components. We show how to modify the widely-used macroeconomic model of Krusell and Smith (1998) to accommodate such a...
Persistent link: https://www.econbiz.de/10011605678
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The Distribution of wealth and the MPC: implications of new European data
Carroll, Christopher D.; Slacalek, Jiri; Tokuoka, Kiichi - 2014
Using new micro data on household wealth from fifteen European countries, the Household Finance and Consumption Survey, we first document the substantial cross-country variation in how various measures of wealth are distributed across individual households. Through the lens of a standard,...
Persistent link: https://www.econbiz.de/10011605693
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The distribution of wealth and the marginal propensity to consume
Carroll, Christopher D.; Slacalek, Jiri; Tokuoka, Kiichi - 2014
We present a macroeconomic model calibrated to match both microeconomic and macroeconomic evidence on household income dynamics. When the model is modified in a way that permits it to match empirical measures of wealth inequality in the U.S., we show that its predictions (unlike those of...
Persistent link: https://www.econbiz.de/10011605700