Auflistung LIF-SAFE Working Papers nach Forschungsbereich "Household Finance"
Anzeige der Dokumente 21-40 von 68
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Financial Education for the Disadvantaged? A Review
(2018-04-20)In contrast to the popularity of financial education interventions worldwide, studies on the economic effects of those interventions report mixed results. With a focus on the effect on disadvantaged groups, we review both ... -
Financial education, literacy and investment attitudes
(2015-05-01)Based on a sample of university students, we provide field and laboratory evidence that a small scale training intervention has both a statistically and economically significant effect on subjective and objective assessments ... -
Financial Literacy and Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing
(2019-10-14)We report the results of a longitudinal intervention with students across five universities in China designed to reduce online consumer debt. Our research design allocates individuals to either a financial literacy treatment, ... -
Financial Literacy and Socialist Education: Lessons from the German Reunification
(2018-07-01)A growing body of literature shows the importance of financial literacy in households' financial decisions. However, fewer studies focus on understanding the determinants of financial literacy. Our paper fills this gap by ... -
Gender Differences in Financial Advice
(2015-03-04)We show that financial advisors recommend more costly products to female clients, based onminutes from about 27,000 real-world advisory meetings and client portfolio data. Funds recommended to women have higher expense ... -
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 ... -
Housing Habits and Their Implications for Life-Cycle Consumption and Investment
(2017-01-26)We solve a rich life-cycle model of household decisions involving consumption of perishable goods and housing services, habit formation for housing consumption, stochastic labor income, stochastic house prices, home renting ... -
How Persistent Low Expected Returns Alter Optimal Life Cycle Saving, Investment, and Retirement Behavior
(2017-06-23)This Chapter explores how an environment of persistent low returns influences saving, investing, and retirement behaviors, as compared to what in the past had been thought of as more “normal” financial conditions. Our ... -
Idiosyncratic Risk, Aggregate Risk, and the Welfare Effects of Social Security
(2017-12-01)We ask whether a pay-as-you-go financed social security system is welfare improving in an economy with idiosyncratic productivity and aggregate business cycle risk. We show analytically that the whole welfare benefit from ... -
Implications of Money-Back Guarantees for Individual Retirement Accounts: Protection Then and Now
(2019-10-21)In the wake of the financial crisis and continued volatility in international capital markets, there is growing interest in mechanisms that can protect people against retirement account volatility. This paper explores the ... -
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 ... -
Inflation Expectations and Choices of Households
(2019-04-01)Do household inflation expectations affect consumption-savings decisions? We link survey data on quantitative inflation expectations to administrative data on income and wealth. We document that households with higher ... -
International Capital Markets with Time-Varying Preferences
(2017-08-02)We propose a 2-country asset-pricing model where agents' preferences change endogenously as a function of the popularity of internationally traded goods. We determine the effect of the time-variation of preferences on ... -
Job Loss Expectations, Durable Consumption and Household Finances: Evidence from Linked Survey Data
(2019-03-01)Job security is important for durable consumption and household savings. Using surveys, workers express a probability that they will lose their job in the next 12 months. In order to assess the empirical content of these ... -
Life Insurance and Demographic Change: An Empirical Analysis of Surrender Decisions Based on Panel Data
(2016-12-01)Households buy life insurance as part of their liquidity management. The option to surrender such a policy can serve as a buffer when a household faces a liquidity need. In this study, we investigate empirically which ... -
Life Insurance Demand under Health Shock Risk
(2015-06-03)This paper studies the life cycle consumption-investment-insurance problem of a family. The wage earner faces the risk of a health shock that significantly increases his probability of dying. The family can buy long-term ... -
Older People’s Willingness to Delay Social Security Claiming
(2016-09-01)We designed and fielded an experimental module in the 2014 HRS which seeks to measure older persons’ willingness to voluntarily defer claiming of Social Security benefits. In addition we evaluate the stated willingness of ... -
On the (ir)relevance of monetary incentives in risk preference elicitation experiments
(2020-08-31)Incentivized experiments in which individuals receive monetary rewards according to the outcomes of their decisions are regarded as the gold standard for preference elicitation in experimental economics. These task-related ... -
On the Applicability of Maximum Likelihood Methods: From Experimental to Financial Data
(2013-12-24)This paper addresses whether and to what extent econometric methods used in experimental studies can be adapted and applied to financial data to detect the best-fitting preference model. To address the research question, ... -
On the Distributive Effects of Inflation
(2015-06-01)This paper undertakes a quantitative investigation of the effects of anticipated inflation on the distribution of household wealth and welfare. Consumer Finance Data on household financial wealth suggests that about a third ...