Showing 1 - 10 of 22
This paper studies Danish non-financial firms' debt financing decisions during covid-19 with a focus on the impact of government support measures. The growth in credit from banks and mortgage banks to firms has been modest during the pandemic, and many firms reduced their debt level in the...
Persistent link: https://www.econbiz.de/10013371380
Since 2022 the European Central Bank and Danmarks Nationalbank have increased their key monetary policy rates at a record pace. This study shows that the pass-through to retail rates has been stronger in Denmark than in the euro area so far. Interest rate fixation periods are shorter in Denmark,...
Persistent link: https://www.econbiz.de/10014551617
We have estimated a new measure of pension wealth gains, covering the working-age population in Denmark during 2015-2022, in collaboration with Statistics Denmark. By linking this new data to the existing income and tax registers at the individual level, we provide a full picture of net...
Persistent link: https://www.econbiz.de/10014551659
This memo studies the impact of demographic shifts and income inequality on the evolution of savings rates in Denmark, and compares with evidence from the US. Income inequality has followed similar trends in Denmark as in the US, and savings rates vary in a similar way over the life cycle and...
Persistent link: https://www.econbiz.de/10014551710
We analyse differences in inflation rates between poor and rich households that arise from heterogeneity in household consumption baskets. Over the 1996 – 2020 period, inflation differences by income are small. From 2020 on, inflation has been about 3pp higher at the bottom of the income...
Persistent link: https://www.econbiz.de/10014551729
House prices increased considerably in Denmark during the pandemic, while consumption remained moderate. This memo explores the nature of the muted consumption response based on a unique data set with estimates of the value of almost all single- and multi-family houses in Denmark obtained from a...
Persistent link: https://www.econbiz.de/10014551801
This paper analyses the development in relative efficiency of Danish banks in the period 2001-2012. Using Data Envelopment Analysis (DEA) and Stochastic Frontier Analysis (SFA) techniques, we find that mean relative efficiency increased during the expansive period 2003-2007, while it decreased...
Persistent link: https://www.econbiz.de/10010464537
Using firm-level data from surveys and financial statements, this paper presents an analysis of credit standards, capital allocation and financial conditions of non-financial enterprises in Denmark since the beginning of the financial crisis. The analysis indicates that low interest rates and...
Persistent link: https://www.econbiz.de/10011754964
This paper explores the significance of overoptimism on house price developments in Denmark. The results indicate that house price developments historically have been partly driven by sentiments decoupled from underlying economic fundamentals, especially during strong house price booms. This...
Persistent link: https://www.econbiz.de/10011754966
We investigate a non-parametric method to estimating marginal propensities to consume (MPC) using regression splines. This approach complements existing methods by relaxing a number of strong requirements on the part of the theory, otherwise necessary to acquire identification. Specifically, we...
Persistent link: https://www.econbiz.de/10011754969