open directory as PDF-file
Further information and access to full text (for registered users) are available at EconPapers, EBSCO, JSTOR, WISO and DigiZeitschriften.
Content:
Editorial Peter Winker: Editorial Announcement JBNST - Vol. 238/1 - 208, pp. 1-2.
Original Articles Jochen Späth and Kai Daniel Schmid: The Distribution of Household Savings in Germany JBNST - Vol. 238/1 - 208, pp. 3-32.
+ show abstract- hide abstractAgainst the ongoing assessment of the root causes of rising economic
inequality in industrialized countries, analyses of the distribution of savings
along the income and wealth distribution are of high interest. We analyze the
concentration of household savings in Germany by estimating saving amounts,
saving rates and shares in aggregate savings across income and wealth groups.
Our calculations are based on the Sample Survey of Household Income and
Expenditure (EVS), containing more than 40,000 households in Germany. We
show that the concentration of savings is substantial: while the top income
decile’s share in total savings reaches 60 percent, the lower half of the income
distribution on average does not save at all. Across wealth groups the concentration of savings is somewhat less pronounced. We also look beyond the top
income threshold underlying the EVS (18,000 euros of monthly net household
income) and demonstrate that corrected saving rates for the top income groups
are considerably higher than those derived from the EVS alone. Hence, the top
income groups’ shares in aggregate savings exceed estimated shares solely
based on EVS data, revealing a substantially more pronounced concentration
of savings along the income distribution. Angelos T. Vouldis: Measuring Credit Demand and Supply: A Bayesian Model with an Application to Greece (2003–2011) JBNST - Vol. 238/1 - 208, pp. 33-76.
+ show abstract- hide abstractMotivated by the linkage between credit and growth in the Greek economy and the deceleration of credit since the financial crisis, this paper studies the
evolution of credit demand and supply in Greece during the period 2003M1–
2011M3. A model of the credit market is explored which disentangles demand and
supply. A Bayesian estimation methodology with data augmentation for the latent
variables is proposed. The analysis is carried out separately for each type of loan
(short- and long-term business loans, consumer loans and mortgages) enabling the
comparative study of the credit rationing and supply constraint effects across loan
categories. The results indicate that, for all loan categories, excess demand characterized the boom period. After the intensification of the debt crisis, long-term
business loans, consumer loans and mortgages were constrained from the supply
side, however, demand for short-term business loans has slowed down more than
supply, reflecting businesses’ need for stable funding. Finally, the structural effects
of the crisis are investigated. The present paper aims to contribute to the strand of
literature investigating the tools to analyse credit developments by formulating an
enhanced and flexible version of a model which disentangles credit demand and
supply and enables the monitoring of the evolution of financial imbalances.
Book Reviews Bernd Meyer: Thijs ten Raa editor. Handbook of Input-Output Analysis JBNST - Vol. 238/1 - 208, pp. 77-80.
Michael Frenkel: Eswar S. Prasad. Gaining Currency: The Rise of the Renminbi JBNST - Vol. 238/1 - 208, pp. 81-86.
Data Observer Irene Bertschek, Jörg Ohnemus and Steffen Viete: The ZEW ICT Survey 2002 to 2015: Measuring the Digital Transformation in German Firms JBNST - Vol. 238/1 - 208, pp. 87-88.
|