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Diskussionspapiere 1816 / 2019
In this study, we set up a DSGE model with upward looking consumption comparison and show that consumption externalities are an important driver of consumer credit dynamics. Our model economy is populated by two different household types. Investors, who hold the economy’s capital stock, own the firms and supply credit, and workers, who supply labor and demand credit to finance consumption. Furthermore, ...
2019| Mathias Klein, Christopher Krause
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Externe Monographien
We study the literature on school financial education programs for children and youth via aquantitative meta-analysis of 37 (quasi-) experiments. We find that financial education treatmenthas, on average, a significant and sizeable impact on financial knowledge (+0.25 SD), similar toeducational interventions in other domains. Additionally, we document small but still significanteffects on financial ...
München:
CESifo,
2018,
35 S.
(CESifo Working Papers ; 7395)
| Tim Kaier, Lukas Menkhoff
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Diskussionspapiere 1743 / 2018
We conduct a randomized field experiment to study the effects of two financial education interventions offered to small-scale retailers in Western Uganda. The treatments contrast “active learning” with “traditional lecturing” within standardized lesson-plans. We find that active learning has a positive and economically meaningful impact on savings and investment outcomes, in contrast to insignificant ...
2018| Tim Kaiser, Lukas Menkhoff
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Diskussionspapiere 1615 / 2016
This research studies the stylized fact of a “gender gap” in that women tend to have lower financial literacy than men. Our data which samples middle-class people from Bangkok does not show a gender gap. This result is not explained by men’s low financial literacy, nor by women’s high income and good education. Rather, it seems influenced by country characteristics on general gender equality and finance-related ...
2016| Antonia Grohmann, Olaf Hübler, Roy Kouwenberg, Lukas Menkhoff
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Diskussionspapiere 1681 / 2017
When consumers face a large number of alternatives, they tend to simplify the decision problem by reducing the number of available alternatives to a subset of relevant alternatives, i.e. a consideration set. Since consideration sets are typically unobserved, most studies in the demand literature have to assume a consideration model. If these consideration models are misspecified, the demand estimates ...
2017| Anna Lu
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Diskussionspapiere 1720 / 2018
Despite considerable policy efforts, women continue to be underrepresented in positions of power and decision making. As an important aspect of women empowerment, we examine women’s participation in intrahousehold financial decision making and how this is affected by financial literacy. Using both OLS and IV regression analysis, we show that women with higher financial literacy are more involved in ...
2018| Antonia Grohmann, Annekathrin Schoofs
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DIW Weekly Report 39 / 2019
The ultra-loose monetary policy of recent years has raised concerns that the low interest rate environment may overly benefit households with specific demographic and financial characteristics. In this context, monetary policy can be a potential driver of gender wealth inequality, since women are known to be more risk averse, less financially literate, and to participate less in the financial markets ...
2019| Caterina Forti Grazzini, Chi Hyun Kim
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Refereed essays Web of Science
Using data from the German Socio-Economic Panel, we undertake a simultaneous assessment of the importance of factors that are individually found to be significant for the adoption of renewable energy systems by households but are not yet tested jointly. These are sociodemographic and housing characteristics, environmental concern, personality traits, and economic factors; i.e. the expected costs of ...
In:
Energy Economics
81 (2019), S. 216-226
| Anke Jacksohn, Peter Grösche, Katrin Rehdanz, Carsten Schröder
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SOEPpapers 977 / 2018
Using representative household survey panel data from Germany, we undertake a simultaneous assessment of the importance of factors that have individually been found significant for the adoption of renewable energy systems but have never been tested jointly. These are sociodemographic and housing characteristics, environmental concern, personality traits, and economic factors, i.e. the expected costs ...
2018| Anke Jacksohn, Peter Grösche, Katrin Rehdanz, Carsten Schröder
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Refereed essays Web of Science
While financial inclusion is typically addressed by improving the financial infrastructure, we show that a higher degree of financial literacy also has a clear beneficial effect. We study this effect at the cross-country level, which allows us to consider institutional variation. Regarding “access to finance”, financial infrastructure and financial literacy are mainly substitutes. However, regarding ...
In:
World Development
111 (2018), S. 84-96
| Antonia Grohmann, Theres Klühs, Lukas Menkhoff