We examine recently compiled microdata from the OECD/INFE survey covering information on the financial literacy of adult individuals from twelve countries around the globe. We find large differences in financial literacy across countries and decompose them into those explainable by differences...

Piketty (2017) argues in favor of a multidimensional and relational approach to the analysis of wealth inequality. Specifically, he suggests that social classes should be analyzed in terms of the power and production relations between social groups, not just the percentiles in statistical...

We analyze a large-scale randomized experiment on redistributive preferences within the Austrian part of one of the most comprehensive wealth surveys - the Eurosystem Household Finance and Consumption Survey. Austria displays a nearly perfect laboratory for such an experiment as it has very low...

Individuals invest in Environmental-Social-Governance (ESG)-assets not only because of (higher) expected returns but also driven by ethical and social considerations. Less is known about ESG-conscious investor subjective beliefs about crypto-assets and how these compare to traditional assets....

Recently, the influence of income and wealth distribution on aggregate savings receives considerable attention. While most studies have focused on measured income distributions, we emphasize the critical role of individuals' subjective perceptions in economic decision-making. Our results largely...

Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data - we employ data of 22 European countries to assess the role of heterogeneity of the marginal propensity to consume (MPC) for fiscal policy in the Euro area. We document an...

Household financial resilience is related to the availability of financial resources but also to the ability to anticipate and assess future situations and prepare for them accordingly. Overplacement describes the tendency of individuals to rate themselves better than others, i.e. they believe...

This paper examines the impact of borrower-based macroprudential policy tightening on mortgage lending in Slovakia, focusing in particular on the role of financial advisors in shaping loan characteristics. Using a comprehensive loan-level dataset from Slovak banks, we analyze the effects of key...