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Household Debt and Social Interactions
(2013-12-06)
Can concern with relative standing, which has been shown to influence consumption and labor supply, also increase borrowing and the likelihood of financial distress? We find that perceived peer income contributes to debt ...
Does Product Familiarity Matter for Participation?
(2015-05-19)
"Household access to financial products is often conditioned on previous use. However, banning access when learning is possible may be discriminatory or counterproductive. The ""experiment"" of German reunification ...
Incompatible European Partners? Cultural Predispositions and Household Financial Behavior
(2015-01-27)
The Eurozone fiscal crisis has created pressure for institutional harmonization, but skeptics argue that cultural predispositions can prevent convergence in behavior. Our paper derives a robust cultural classification of ...
Does feedback on personal investment success help?
(2016-12-06)
In a field study with more than 1.500 customers of an online-broker we test what happens when investors receive repeated feedback on their investment success in a monthly securities account report. The reports show investors’ ...
Consuming Dividends
(2020-05-01)
This paper studies why investors buy dividend-paying assets and how they time their consumption accordingly. We combine administrative bank data linking customers’ consumption transactions and income to detailed portfolio ...
The Disposition Effect in Boom and Bust Markets
(2021-02-05)
The disposition effect is implicitly assumed to be constant over time. However, drivers of the disposition effect (preferences and beliefs) are rather countercyclical. We use individual investor trading data covering several ...
CDAX
Der CDAX (Abkürzung für Composite DAX) wurde am 17. September 1993 bei der Deutschen Börse AG als zusätzlicher Index zum bekannten Deutschen Aktienindex (DAX) eingeführt. Während der DAX mit nur 30 Standardwerten eine ...
BHH Administrative data
A unique dataset from a large German bank which features information on customer demographics, categorized current account transactions, portfolio holdings, and individual trading records.
Thomson Reuters
Thomson Reuters Corporation is a Canadian multinational media conglomerate.
LINDA
LINDA is a sample-based longitudinal individual database that is directed primarily to researchers. The main purpose of the database is to provide researchers with the opportunity to study income development for different ...