Diskussionspapiere 1914 / 2020
About two billion people in the world do not own a financial account and there are many more who use financial services only occasionally. In the past, initiatives which address these problems of financial exclusion focused on the supply side of financial markets, in particular by increasing the branch network of banks and by offering cheap bank products. While this had the desired effect, recent ...
2020| Antonia Grohmann, Lukas Menkhoff
Referierte Aufsätze Web of Science
We study the literature on school financial education programs for children and youth via a quantitative meta-analysis of 37 (quasi-) experiments. We find that financial education treatments have, on average, sizeable impacts on financial knowledge (+0.33 SD), similar to educational interventions in other domains. Additionally, we document smaller effects on financial behaviors among students (+0.07 ...
Economics of Education Review
78 (2020), 101930, 15 S.
| Tim Kaiser, Lukas Menkhoff
Diskussionspapiere 1888 / 2020
In online commerce, obfuscation strategies by sellers are hypothesized to mislead consumers to their detriment and to the profit of sellers. One such obfuscation strategy is partitioned pricing in which the price is split into a base price and add-on fees. While empirical evidence suggests that partitioned pricing affects consumer decisions through salience effects, its consumer welfare consequences ...
2020| Kevin Ducbao Tran
Diskussionspapiere 1881 / 2020
“Sin taxes” are high on the political agenda in the global fight against obesity. Ac- cording to theory, they are welfare improving if consumers with low self-control are at least as price responsive as consumers with high self-control, even in the absence of ex- ternalities. In this paper, we investigate if consumers with low and high self-control react differently to sin tax variation. For identification, ...
2020| Renke Schmacker, Sinne Smed
Diskussionspapiere 1860 / 2020
This paper studies the effects of labor market outcomes on ﬁrms’ loan demand and on credit intermediation. In a ﬁrst step, I investigate how wages in the production sector affect bank net worth and the process of ﬁnancial intermediation in partial equilibrium. Second, the role of the identiﬁed channels are studied in general equilibrium using a new- Keynesian DSGE-model with ﬁnancial frictions and ...
2020| Tobias König
Referierte Aufsätze Web of Science
While in January 2012, Denmark increased the long-standing tax on sugary soft drinks, the tax was cut byhalf in July 2013 and then completely repealed in January 2014. In this study, we examine whetherincreases and cuts of the soft drink tax lead to similar over- or under-shifting to prices and to similardemand responses. We use longitudinal scanner data of 1,282 Danish households to estimate within-product ...
Economics and Human Biology
37 (2020), 100864, 10 S.
| Renke Schmacker, Sinne Smed
Diskussionspapiere 1864 / 2020
We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge and downstream financial behaviors. Treatment effects are economically meaningful ...
2020| Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, Carly Urban
Diskussionspapiere 1891 / 2020
Effective attention to information may play a prominent role in consumer choice for energy-intensive services and it may simply be a function of receiving timely information when consumption takes place. This paper investigates whether and why the timing of utility bills leads to salience bias in heat energy consumption. In Germany, the 12-month billing period varies across buildings with a signiﬁcant ...
2020| Puja Singhal
DIW Weekly Report 21/22 / 2020
Mobile money is an innovation that allows financial transactions to be performed via a cell phone. Even in poor regions of Africa, almost everyone has a cell phone; therefore, mobile money could both contribute to the continent’s economic growth and ensure that no Africans are excluded from access to financial services. However, DIW Berlin data from Uganda show that mobile money is actually used less ...
2020| Katharina Lehmann-Uschner, Lukas Menkhoff
Vierteljahrshefte zur Wirtschaftsforschung 1 / 2020
Wucher ist ein häufiges Phänomen auf den Verbraucherkreditmärkten und betrifft insbesondere Haushalte mit niedrigem Einkommen. Obwohl der Begriff Wucher Bilder eines gierigen Individuums beschwört, das bewusst handelt, um die schwache Verhandlungsposition eines anderen mit irreführenden und sogar betrügerischen Mitteln auszunutzen, betrachten wir ihn als systemisches Problem: als ein Problem der sozialen ...
2020| Doris Neuberger, Udo Reifner