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312 results, from 271
  • FINESS Working Papers 4.5 / 2010

    Unemployment and Portfolio Choice: Does Persistence Matter?

    We use a life-cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using Markov chains to model the transition between different employment states. In contrast to most models in the ...

    2010| Vladimir Kuzin, Franziska Bremus
  • SOEPpapers 339 / 2010

    The Life-Cycle Hypothesis Revisited: Evidence on Housing Consumption after Retirement

    According to the life-cycle theory of consumption and saving, foreseeable retirement events should not reduce consumption. Whereas some consumption expenditures may fall when goods are self-produced (given higher leisure after retirement), this argument applies especially to housing consumption which can hardly be substituted by home production. We test this hypothesis using micro data for Germany ...

    2010| Miriam Beblo, Sven Schreiber
  • SOEPpapers 327 / 2010

    Family Events and Timing of Intergenerational Transfers

    This research investigates how family events in adult children's lives influence the timing of their parents' financial transfers. We draw on retrospective data collected by the German Socio-Economic Panel Study (SOEP) and use event history models to study the effects of marriage, divorce, and childbirth on receiving large gifts from parents. We find increased chances of receiving gifts of houses or ...

    2010| Thomas Leopold, Thorsten Schneider
  • SOEPpapers 289 / 2010

    One Last Puff? Public Smoking Bans and Smoking Behavior

    This paper investigates the short-term effects of public smoking bans on individual smoking behavior. In 2007 and 2008, state-level smoking bans were gradually introduced in all of Germany's sixteen federal states. We exploit this variation in the timing of state bans to identify the effect that smoke-free policies had on individuals' smoking propensity and smoking intensity. Using rich longitudinal ...

    2010| Silke Anger, Michael Kvasnicka, Thomas Siedler
  • Diskussionspapiere 997 / 2010

    Do Google Searches Help in Nowcasting Private Consumption? A Real-Time Evidence for the US

    In this paper, we investigate whether the Google search activity can help in nowcasting the year-on-year growth rates of monthly US private consumption using a real-time data set. The Google-based forecasts are compared to those based on a benchmark AR(1) model and the models including the consumer surveys and financial indicators. According to the Diebold-Mariano test of equal predictive ability, ...

    2010| Konstantin A. Kholodilin, Maximilian Podstawski, Boriss Siliverstovs
  • Diskussionspapiere 978 / 2010

    Unemployment and Portfolio Choice: Does Persistence Matter?

    We use a life cycle model of consumption and portfolio choice to study the effects of social security on the investment decisions of households for the European case. Our model is mainly based on the one developed by Cocco, Gomes, and Maenhout (2005). We extend it by unemployment risk using Markov chains to model the transition between different employment states. In contrast to most models in the ...

    2010| Vladimir Kuzin, Franziska Bremus
  • FINESS Working Papers 6.1 / 2009

    Risk Attitudes and Investment Decisions across European Countries: Are Women More Conservative Investors than Men?

    This study questions the popular stereotype that women are more risk averse than men in their financial investment decisions. The analysis is based on micro-level data from large-scale surveys of private households in five European countries. In our analysis of investment decisions, we directly account for individuals' self-perceived willingness to take financial risks. The empirical evidence we provide ...

    2009| Oleg Badunenko, Nataliya Barasinska, Dorothea Schäfer
  • SOEPpapers 240 / 2009

    Precautionary and Entrepreneurial Saving: New Evidence from German Households

    The well-documented positive correlation between income risk and wealth was interpreted as evidence for high amounts of precautionary wealth in various studies. However, the large estimates emerged from pooling non-entrepreneurs and entrepreneurs without controlling for heterogeneity. This paper provides evidence for Germany based on representative panel data including private wealth balance sheets. ...

    2009| Frank M. Fossen, Davud Rostam-Afschar
  • SOEPpapers 239 / 2009

    Triggers and Determinants of Severe Household Indebtedness in Germany

    Overindebted private households have created economic and political concern. Using measures of relative (over-) indebtedness which relate household income and debt services to different concepts of subsistence levels, this paper investigates whether severe household indebtedness is driven by trigger events such as unemployment, childbirth, divorce, or the death of the partner. Exploiting the panel ...

    2009| Matthias Keese
  • Diskussionspapiere 928 / 2009

    Risk Attitudes and Investment Decisions across European Countries: Are Women More Conservative Investors than Men?

    This study questions the popular stereotype that women are more risk averse than men in their financial investment decisions. The analysis is based on micro-level data from large-scale surveys of private households in five European countries. In our analysis of investment decisions, we directly account for individuals' self-perceived willingness to take financial risks. The empirical evidence we provide ...

    2009| Oleg Badunenko, Nataliya Barasinska, Dorothea Schäfer
312 results, from 271
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