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Household consumption in Colombia: a nonlinear cointegrating approach

Arango Thomas, Luis Eduardo; Flórez, Luz A.; Posada, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015617560

A model of consumption with mental accounting and heterogeneous agents

Gimeno-Ribes, Jaime - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655481

The impact of population aging on the household saving rate : the case of Japan

Horioka, Charles - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015561467

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The impact of population aging on the household saving rate : the case of Japan

Horioka, Charles - 2026

Book / Working Paper

The impact of population aging on the household saving rate : the case of Japan

Horioka, Charles - 2026

Book / Working Paper

Overconfidence, knowledge of the retirement income system, and retirement planning

D'Astous, Philippe; Glenzer, Franca - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609287

Intertemporal self-insurance and excess sensitivity of affluent households

Savoia, Ettore - 2026

This paper studies household consumption behavior when saving motives differ due to preference or income risk heterogeneity. I show that self-insurance operates along two margins: a standard liquidity margin determined by the level of current resources and an intertemporal margin governed by...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612455

Who Captures Export Windfalls? Exchange Rates, Export Profitability, and National Saving under Dominant-Currency Pricing

Bakker, Bas - 2026

Under dominant-currency pricing—where many export prices are set in dollars—the real exchange rate allocates export windfalls between producers and consumers. When the real exchange rate is stable, rising dollar export revenues pass through nearly one-for-one into higher real local-currency...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612694

Formalizing Savings

Melecky, Martin; Singer, Dorothe - 2026

This paper investigates the determinants of saving behavior—both formal and informal—using individual-level data from the 2021 Global Findex database, covering more than 139,000 adults across 138 countries. The analysis employs a Heckman selection model to distinguish between the decision to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613930

Social protection in Chile : between growth and redistribution

Zapata-Román, Gabriela; Barrientos, Armando - 2026

Chile combines high income levels and strong human development outcomes with persistent inequality. This paper examines the country's social protection matrix, focusing on its institutional configuration, financial structure, and main outcomes. The analysis distinguishes three core components-...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015615839

Pension saving in a gendered lifecourse

James, Hayley - 2026

Despite automatic enrolment in work pension schemes, private saving for pensions in the UK is relatively low, with most people under-pensioned in later life and reliant on the state pension. In this book, Hayley James shows that equally significant is that women save far less for old age than...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015555380

Pension wealth and the timing of retirement

Andersen, Torben M.; Borgbjerg, Anne Katrine; Maibom, Jonas - 2026

We analyze how pension wealth influences retirement timing using 25 years of Danish administrative panel data on wealth and labor market status. Exploiting early-career variation in firm-specific mandatory pension contribution rates, we study labor supply decisions from age 55 onward. Greater...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015586901

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Pension wealth and the timing of retirement

Andersen, Torben M.; Borgbjerg, Anne Katrine; Maibom, Jonas - 2026

Book / Working Paper

Pension wealth and the timing of retirement

Andersen, Torben M.; Borgbjerg, Anne Katrine; Maibom, Jonas - 2026

Book / Working Paper

Financial literacy and saving behavior : global cross-sectional evidence

Afonso, António; Rodrigues, Eduardo de Sá Fortes Leitão - 2026

Savings play a critical role in both individual financial well-being and economic development. This article examines the impact of financial literacy, income, educational level, and age on saving decisions across 136 countries, using data from the Global Financial Inclusion Database (2021) and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015587535

Risk aversion, self-control, commitment savings device and benchmark-defined undersaving among nano enterprises in urban slums : a logistic regression approach

Osifodunrin, Edward A.; Lopes, José Dias - 2026

Low-income individuals are unlikely to save relatively large sums on a regular basis; however, many still fall short of even the modest threshold required for long-term financial security. This study examines the determinants of benchmark-defined undersaving among retail e-payment agents (REAs)...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015591438

Windfall income shocks with finite planning horizons

Boutros, Michael - 2026

I study how the cognitive demands of financial planning shape household decisionmaking with respect to consumption out of windfall income shocks. I build a quantitative model of bounded rationality in which reoptimization is costly. Households respond to windfall income shocks by choosing a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015580415

Money demand by non-financial corporations

Nocciola, Luca - 2026

We document empirically the money demand by European non-financial corporations by exploiting a unique and brand-new survey on their cash usage in a stress period. We also assess: (i) the relation between cash held and firm size; and (ii) estimate point values of cash holdings and carry out...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605058

Do local fuel prices affect remote working behaviors and carbon emission savings? : evidence from German panel data

Schmiedeberg, Claudia; Schober, Dominik - 2026

Given the importance of the transport sector for greenhouse gas emissions, both behavioral change will be needed to mitigate climate change in addition to technological innovation. We focus on the case of remote working as a less carbon-intensive substitute to commuting and analyze whether...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605517

Inequality in comprehensive wealth

Landel, Hannah; Love, David A.; Smith, Paul A. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605578

The gold channel : how regional gold saving behavior shapes house price dynamics in Türkiye

Çolak, Mehmet Selman; Şamcı, Mehmet Emre - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015624567

The investing-saving relationship debate between opposing views : a panel analysis across main economic regions

Focacci, Antonio - 2026

This paper focuses on an empirical analysis of the relationship between investing and saving, taking into account various economic regions. The economic aggregates are selected following the International Monetary Fund (IMF) standard classification. The investigation is developed within the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625989

Revisiting the consumption puzzle at retirement

Labeaga, José M.; Sánchez-Robles Rute, Blanca - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626549

Unlocking financial inclusion through solar technology adoption in Malawi

Dai, Congyi; McCord, Ryan; Beach, Katerina B.; Mahieu, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015627454

PFR Fundamentals : Estimating Potential Fiscal Savings

Herrera, Santiago; Isaka, Hironobu - 2026

This Note describes methods for estimating potential fiscal savings across five spending categories—the wage bill, pension payments, capital spending, purchases of goods and services, and social protection spending. The primary methodology compares a country’s spending levels to specific...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628247

Impact of demographic and macroeconomic variables on gross saving : evidence from Jordan

Alzoubi, Omar Mohammad; Saqfalhait, Nahil Ismail - 2026

This study analyzes the determinants of gross saving in Jordan over the period 1991-2023, with particular attention paid to the role of macroeconomic and demographic factors in shaping saving behavior. The empirical analysis employs the Autoregressive Distributed Lag (ARDL) bounds testing...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628420

Financial literacy and the retirement gender gap : the role of cultural schemas

Green, Li-Noy; Herbst-Debby, Anat - 2026

This qualitative study explores the construction of financial literacy in the context of retirement among young women in Israel, in light of available cultural schemas. The research challenges economic models that rely solely on assumptions of rationality and self-interest, offering a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628601

Optimizing state aid processes during COVID-19 in the Slovak Republic : model, simulation, and savings

Šindleryová, Ivana Butoracová; Cíbik, Lukáš; … - 2026

The COVID-19 pandemic exposed significant vulnerabilities in public-sector administrative capacity, particularly in the implementation of crisis-related state aid schemes. Under conditions of extreme workload, time pressure, and legal constraints, administrative processes became critical...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628659

One market, one supervision : rethinking the supervisory landscape for a truly integrated capital market in Europe

Carmassi, Jacopo; Dumora Lemair, Olivier; Evrard, Johanne; … - 2026

This paper provides an evidence-based assessment of the EU supervisory landscape by combining a comprehensive mapping of supervisory models and authorities with an analysis of capital market players across key sectors, including market infrastructures, asset management, and crypto-asset service...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628826

Who Smooths the Shock? Government and Private Saving in International Risk Sharing

Bokhua, Giorgi; Islamaj, Ergys - 2026

This paper examines the channels through which countries smooth income volatility, emphasizing the distinct roles of public and private saving across levels of development and macroeconomic characteristics. Using a panel of 134 countries over 1990–2023 and an accounting-based decomposition of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641172

Demographics and international capital flows : an empirical assessment

Zélity, Balázs - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641901

Optimal investment in annuities and life insurance for retired couples : the role of side bequest motives

Werd, Martijn de; Achou, Bertrand; Chau, Ki Wai - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655674

When loss strikes twice : severe health shocks and financial well-being

Majlesi, Kaveh; Molin, Elin; Roth, Paula - 2026

We study how fatal and nonfatal health shocks affect households' ability to meet their financial obligations. We find that fatal shocks substantially increase the likelihood of default and that housing wealth plays a key role as a self-insurance mechanism. Surviving spouses who experience the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015656131

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When loss strikes twice : severe health shocks and financial well-being

Majlesi, Kaveh; Molin, Elin; Roth, Paula - 2026

Book / Working Paper

Consumption responses to rising mortgage rates : unpacking the cashflow channel of monetary policy

Andersen, Asger Lau; Jakobsen, Andreas; Jørgensen, … - 2026

We study the transmission of rising interest rates to consumption using granular customer data from a major bank in Denmark. We show that households with adjustable-rate mortgages gradually reduced spending and increased deposits as market rates soared in 2022 but made no further spending cuts...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015656790

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Consumption responses to rising mortgage rates : unpacking the cash-flow channel of monetary policy

Andersen, Asger Lau; Jakobsen, Andreas; Jørgensen, … - 2026

Book / Working Paper

Consumption responses to rising mortgage rates : unpacking the cash-flow channel of monetary policy

Andersen, Asger Lau; Jakobsen, Andreas; Jørgensen, … - 2026

Book / Working Paper

Mandatory pension contributions, household consumption, and savings

Larsen, Linda Sandris; Nielsson, Ulf; Nutu, Mara; … - 2026

Using Danish register data, we study whether individuals save enough to maintain almost all (90%) of their pre-retirement consumption. We find that 85 percent do, largely due to mandatory labour market pension contributions. The remaining 15 percent are less likely to have mandatory pension...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015647153

Household savings and shocks to occupational pension funds

Caloia, Francesco; Mastrogiacomo, Mauro; Simonetti, Irene - 2026

Using household survey data linked to supervisory data of Dutch pension funds, we provide evidence of the increase in household savings caused by shocks to the financial position of pension funds. Our identification strategy exploits cross-sectional and time variations in pension funds' funding...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015647160

Are women preparing for old age? : evidence from Japan

Niimi, Yoko - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651040

Defaulting 401(k) assets into payout annuities for "pretty good" lifetime incomes

Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2026

Some US defined contribution plans offer retirees access to an annuity or lifetime income stream as payout options from their 401(k) accounts. Nevertheless, for behavioral reasons, some retirees may hesitate to elect lifetime income streams as a drawdown vehicle. To counter this, plan sponsors...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651068

Supply shocks in the fog : the role of endogenous uncertainty

Antonova, Anastasiia; Matvieiev, Mykhailo; Poilly, Céline - 2026 - Last updated: April 10, 2026

Recessions are often accompanied by heightened uncertainty. We build an imperfect-information New Keynesian model in which procyclical information quality generates endogenous countercyclical uncertainty, and the nonlinear structure allows for a precautionary saving motive. We show theoretically...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651854

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Supply shocks in the fog : the role of endogenous uncertainty

Antonova, Anastasiia; Matvieiev, Mykhailo; Poilly, Céline - 2026

Book / Working Paper

Explaining the global decline in the relative price of investment goods : the role of demographic shifts

Li, Yingcan - 2026

The persistent decline in the relative price of investment goods has emerged as a global stylized fact. This paper develops a three-period Overlapping Generations model to delineate the theoretical mechanism through which population age structure affects the relative price of investment goods...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653852

Decomposing the welfare consequences of population aging in Thailand : labor, saving, and fiscal channels in a multi-household CGE model

Pinitjitsamut, Montchai - 2026

Population aging in middle-income economies produces macroeconomic and distributional consequences that aggregate frameworks cannot detect. This paper develops a multi-household CGE model calibrated to a 26-sector Social Accounting Matrix for Thailand (2024) and traces the labor, saving, and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015633818

How is wealth distributed across British households? : reassessing the valuation of pensions

Delestre, Isaac; O'Brien, Laurence - 2026

Reliable statistics on the distribution of wealth - and how this has changed over time - are essential for informing a range of policy debates. Unfortunately, current official statistics from the Office for National Statistics (ONS) do not provide a coherent or consistent guide to how wealth is...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015635315

Public policy and inequalities : lessons for policymakers from the IFS Deaton Review

Adam, Stuart; Cribb, Jonathan; Delestre, Isaac; … - 2026

The IFS Deaton Review has been a major interdisciplinary project studying the causes and consequences of inequalities. The Review has studied inequalities related to education, health, income, wealth, political power, geography, gender, ethnicity and social mobility. This report draws lessons...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015635316

Gambling for retirement : the economics of savings lotteries

Gars, Jared; Holz, Justin; Rodemeier, Matthias; Villa, … - 2026

Governments frequently use lottery-like incentives to encourage socially desirable behavior ("Pigouvian lotteries"). We study lotteries that encourage retirement savings in a nationwide field experiment with over 380,000 participants in Colombia's public pension system. Lotteries increase...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015635628

Essays on global regionalism : II, Will regions save the world?

2026

Chapter 1. Introduction to Essays on Global Regionalism (Vol. II): Will Regions Save the World? -- Part I: Global Perspectives -- Chapter 2. Are you NUTS? A United Nations of Regions -- Chapter 3. United Nations Law and Global Regionalism -- Chapter 4. United Regions: Exploring the Impact of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015636376

Investigating spillovers of education policy : the impact on household saving behavior

Akyol, Şaziye Pelin; Leka, Marie - 2026

Exploiting a legislative change that increased mandatory schooling from five to eight years in Türkiye, we investigate the impact of the reform on household saving decisions. We find that while the reform increased the education level of both men and women, its impact on household saving...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015666825

Parenthood and pension wealth : the long-term impact of children on retirement savings

Landovská, Petra; Votápková, Jana - 2026

Population ageing and declining fertility challenge public pension systems and raise concerns about financial preparedness for retirement. While wealth accumulation depends on socioeconomic characteristics such as income, education, and health, family size may also shape long-term saving...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015667772

Self-control and early withdrawal from retirement accounts

Moran, Patrick; Schneider, Patrick - 2026

Using a survey-elicited measure of psychological self-control and a policy change in Australia during COVID-19, we find that self-control issues significantly predict early withdrawals from retirement accounts. Individuals in the top quintile of self-control issues are 60% more likely to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669769

Households with insufficient liquid assets : consumption responses to income changes

Belloc, Ignacio; Molina, José Alberto - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015665409

On the taxation of private retirement wealth

Ábrahám, Árpád; Brendler, Pavel; Cárceles-Poveda, Eva - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015665865

Employment stability, earnings dynamics, and life-cycle savings

Kuhn, Moritz; Nam, Leanne Jae Youn; Ploj, Gašper - 2026

Labor markets feature large heterogeneity in employment stability: some careers provide lifetime employment, while others involve frequent transitions in and out of work. While this heterogeneity shapes earnings dynamics and labor market risk, its implications for household saving behavior...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015670147

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Employment stability, earnings dynamics, and life-cycle savings

Kuhn, Moritz; Nam, Leanne Jae Youn; Ploj, Gašper - 2026

Book / Working Paper

Employment stability, earnings dynamics, and life-cycle savings

Kuhn, Moritz; Nam, Leanne Jae Youn; Ploj, Gašper - 2026

Book / Working Paper

Use it or save it?

Meng, Xin; Günay, Hikmet; Arzandeh, Mehdi - 2026

When a wireless carrier exits, its spectrum may remain idle until regulators complete a reassignment process. During this interval, regulators must decide whether to leave the spectrum unused or grant temporary access rights to an incumbent carrier. We study this trade-off in a two-period model...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015670157

Precautionary saving at the top : on the concavity of consumption in the permanent component of earnings

Commault, Jeanne - 2026

Changes in the distribution of permanent income, which is a proxy for human capital, have become a key explainer of wealth accumulation at the top, but we know little about the theoretical relation between permanent income and consumption in economic models. I show that, in a standard model,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015673587

Assessing the government's reform to the National Insurance treatment of salary sacrifice pension contributions

O'Brien, Laurence; Oulton, Matthew - 2026

In November 2025, the Chancellor announced that salary sacrifice pension contributions - whereby employees agree to a reduction in their salary in return for additional employer pension contributions - above £2,000 per year will no longer be exempt from employer and employee National Insurance...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668543