Real Returns of Private Households with Different Financial Assets — A Comparison of Germany and Austria
Abstract The paper discusses the real returns of German and Austrian households of different financial wealth groups in times of ultra-low interest rates. While returns decreased across all groups, the decline is rarely claimed, at least so far. Moreover, it is shown that — contrary to popular belie...
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| Format: | Article |
| Language: | deu |
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Sciendo
2020-07-01
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| Series: | Wirtschaftsdienst |
| Online Access: | https://doi.org/10.1007/s10273-020-2679-2 |
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| _version_ | 1832569255779893248 |
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| author | Michael Andreasch Marc Peter Radke Manuel Rupprecht |
| author_facet | Michael Andreasch Marc Peter Radke Manuel Rupprecht |
| author_sort | Michael Andreasch |
| collection | DOAJ |
| description | Abstract The paper discusses the real returns of German and Austrian households of different financial wealth groups in times of ultra-low interest rates. While returns decreased across all groups, the decline is rarely claimed, at least so far. Moreover, it is shown that — contrary to popular belief — rich households are particularly affected, although their returns today are still higher than those of the poor. While the general developments are similar, the yield level in Austria is consistently lower than in Germany. Overall, the asset structure is key for the results. Economic policy should therefore aim at a higher diversification of assets, especially for the poor, by effectively improving financial education. |
| format | Article |
| id | doaj-art-4eaffe393ece40819df69ee00d9d32d2 |
| institution | Kabale University |
| issn | 0043-6275 1613-978X |
| language | deu |
| publishDate | 2020-07-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Wirtschaftsdienst |
| spelling | doaj-art-4eaffe393ece40819df69ee00d9d32d22025-02-02T22:37:42ZdeuSciendoWirtschaftsdienst0043-62751613-978X2020-07-01100644645310.1007/s10273-020-2679-2Real Returns of Private Households with Different Financial Assets — A Comparison of Germany and AustriaMichael AndreaschMarc Peter Radke0Manuel Rupprecht1Fakultät Wirtschaft, Campus Schwenningen, Hochschule FurtwangenFachbereich Wirtschaft, Fachhochschule MünsterAbstract The paper discusses the real returns of German and Austrian households of different financial wealth groups in times of ultra-low interest rates. While returns decreased across all groups, the decline is rarely claimed, at least so far. Moreover, it is shown that — contrary to popular belief — rich households are particularly affected, although their returns today are still higher than those of the poor. While the general developments are similar, the yield level in Austria is consistently lower than in Germany. Overall, the asset structure is key for the results. Economic policy should therefore aim at a higher diversification of assets, especially for the poor, by effectively improving financial education.https://doi.org/10.1007/s10273-020-2679-2 |
| spellingShingle | Michael Andreasch Marc Peter Radke Manuel Rupprecht Real Returns of Private Households with Different Financial Assets — A Comparison of Germany and Austria Wirtschaftsdienst |
| title | Real Returns of Private Households with Different Financial Assets — A Comparison of Germany and Austria |
| title_full | Real Returns of Private Households with Different Financial Assets — A Comparison of Germany and Austria |
| title_fullStr | Real Returns of Private Households with Different Financial Assets — A Comparison of Germany and Austria |
| title_full_unstemmed | Real Returns of Private Households with Different Financial Assets — A Comparison of Germany and Austria |
| title_short | Real Returns of Private Households with Different Financial Assets — A Comparison of Germany and Austria |
| title_sort | real returns of private households with different financial assets a comparison of germany and austria |
| url | https://doi.org/10.1007/s10273-020-2679-2 |
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