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311 results, from 291
  • Refereed essays Web of Science

    An Economic Analysis of China's Credit Information Monopoly

    The Chinese government is building the largest public credit information database on earth. The Credit Registry Center of the People's Bank of China registers more than 600 million consumers of which 110 million have a credit relationship with a financial institution. The Center is a public utility monopoly which collects information from banks and non-bank institutions - a unique approach developed ...

    In: China Economic Review 19 (2008), 4, S. 537-550 | Nicola Jentzsch
  • SOEPpapers 133 / 2008

    Private Retirement Savings in Germany: The Structure of Tax Incentives and Annuitization

    The present paper studies the growth, welfare and efficiency consequences of the recent introduction of tax-favored retirement accounts in Germany in a general equilibrium overlapping generations model with idiosyncratic lifespan and labor income uncertainty. We focus on the implicit differential taxation of specific savings motives, the mandatory annuitization of benefits and the impact of special ...

    2008| Hans Fehr, Christian Habermann
  • SOEPpapers 117 / 2008

    Financial Risk Aversion and Household Asset Diversification

    This paper explores the relationship between risk attitude and asset diversification in household portfolios. We first examine the impact of manifested risk aversion on the total number of distinct assets held in a portfolio (naive diversification). The second part of the paper focuses on a more sophisticated strategy of diversification and asks whether financial theory is compatible with observed ...

    2008| Nataliya Barasinska, Dorothea Schäfer, Andreas Stephan
  • SOEPpapers 90 / 2008

    Mortgage Market Maturity and Homeownership Inequality among Young Households: A Five-Country Perspective

    This paper uses the newly constructed Luxembourg Wealth Study data to document cross-country variation in homeownership rates and the homeownership-income inequality among young households in Finland, Germany, Italy, the UK and the US, and relate it to cross-country differences in mortgage market maturity. We find that aside from Italy, homeownership rates and inequality in the four countries correspond ...

    2008| Alena Bicakova, Eva M. Sierminska
  • SOEPpapers 31 / 2007

    Cost Liability and Residential Space Heating Expenditures of Welfare Recipients in Germany

    Within the German welfare system, heating expenditures of recipients are in general fully covered by the government. This paper empirically tests for the hypothesis that households receiving welfare payments turn to over consumption of residential space heating. We use microdata from two different data sources to explore whether conditional heating expenditures of these households significantly differ ...

    2007| Katrin Rehdanz, Sven Stöwhase
  • SOEPpapers 33 / 2007

    Precautionary Savings by Natives and Immigrants in Germany

    This paper analyses the savings behaviour of natives and immigrants in Germany. It is argued that uncertainty about future income and legal status (in case of immigrants) is a key component in the determination of the level of precautionary savings. Using the German Socio-economic Panel data it is shown that, although immigrants have lower levels of savings and are less likely to have regular savings ...

    2007| Matloob Piracha, Yu Zhu
  • SOEPpapers 57 / 2007

    Ethnic Identity and Immigrant Homeownership

    Immigrants are much less likely to own their homes than natives, even after controlling for a broad range of life-cycle and socio-economic characteristics and housing market conditions. This paper extends the analysis of immigrant housing tenure choice by explicitly accounting for ethnic identity as a potential influence on the homeownership decision, using a two-dimensional model of ethnic identity ...

    2007| Amelie Constant, Rowan Roberts, Klaus F. Zimmermann
  • SOEPpapers 48 / 2007

    Germans in Germany's Ethnic Neighborhoods

    In contrast to most research on the effects on residents of living in an ethnic neighborhood, this paper explores how living within an ethnic neighborhood affects members of the dominant ethnic group - in this case Germans - rather than the minorities that define it. The results indicate that Germans living within ethnic neighborhoods are less well off financially than their peers in other parts of ...

    2007| Anita I. Drever
  • SOEPpapers 59 / 2007

    Wealth and Asset Holdings of Immigrants in Germany

    This paper examines the relative wealth position and the portfolio choices of immigrants in Germany. The empirical findings reveal significant differences in overall wealth and various wealth components between German natives and immigrants. Differences in real estate constitute the major part of different levels of net worth, indicating that disparities in home-ownership rates are responsible for ...

    2007| Mathias Sinning
  • SOEPpapers 21 / 2007

    Precautionary Saving and Income Uncertainty in Germany: New Evidence from Microdata

    The saving ratio of households in Germany has increased in the past few years when the income trend was weak. This could be due to precautionary saving. In this paper, the importance of precautionary saving against income uncertainty is analyzed empirically using micro data from the German Socio-Economic Panel Study (GSOEP). Wealth in 2002 is regressed on alternative measures of income uncertainty ...

    2007| Nikolaus Bartzsch
311 results, from 291
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