Household Indebtedness, Financial Frictions and the Transmission of Monetary Policy to Consumption: Evidence from China
Emerging Markets Review,
This paper studies the impact of household indebtedness on the transmission of monetary policy to consumption using the Chinese household-level survey data. We employ a panel smooth transition regression model to investigate the non-linear role of indebtedness. We find that housing-related indebtedness weakens the monetary policy transmission, and this effect is non-linear as there is a much larger counteraction of consumption in response to monetary policy shocks when household indebtedness increases from a low level rather than from a high level. Moreover, the weakened monetary policy transmission from indebtedness is stronger in urban households than in rural households. This can be explained by the investment good characteristic of real estate in China.
Micro Data on Robots from the IAB Establishment Panel
Jahrbücher für Nationalökonomie und Statistik (nicht referiert),
Micro-data on robots have been very sparse in Germany so far. Consequently, a dedicated section has been introduced in the IAB Establishment Panel 2019 that includes questions on the number and type of robots used. This article describes the background and development of the survey questions, provides information on the quality of the data, possible checks and steps of data preparation. The resulting data is aggregated on industry level and compared with the frequently used robot data by the International Federation of Robotics (IFR) which contains robot supplier information on aggregate robot stocks and deliveries.
IWH Bankruptcy Research
IWH Bankruptcy Research The Bankruptcy Research Unit of the Halle Institute for...
IWH Medium-Term Projection According to the IWH medium-term projection of the German economy, growth in the next six...
Firm Surveys Since 1993, IWH has conducted regular surveys among a fixed group of...
Wage and Employment Effects of Insolvencies
Wage and employment effects of bankruptcies Although the consequences of...
13. IWH/IAB-Workshop zur Arbeitsmarktpolitik – ein Tagungsbericht ...
IWH Construction Survey
IWH Construction Survey From 1993 until the first quarter of 2017, the IWH...
Who Buffers Income Losses after Job Displacement? The Role of Alternative Income Sources, the Family, and the State
LABOUR: Review of Labour Economics and Industrial Relations,
Using survey data from the German Socio‐Economic Panel (SOEP), this paper analyses the extent to which alternative income sources, reactions within the household context, and redistribution by the state attenuate earnings losses after job displacement. Applying propensity score matching and fixed effects estimations, we find that income from self‐employment reduces the earnings gap only slightly and severance payments buffer losses in the short run. On the household level, we find little evidence for an added worker effect whereas redistribution by the state within the tax and transfer system mitigates income losses substantially.