SAFE researcher Peter Andre was awarded a Modigliani Research Grant by the UniCredit Foundation. With this support, Andre wants to continue his research that investigates how households manage their finances and how this impacts the macroeconomy.
While household consumption-savings decisions are crucial for understanding the macroeconomy, lay people often approach them fundamentally differently than academic experts presume. Households’ lay perspectives are poorly understood, and their macroeconomic implications are not fully explored. Andre uses innovative survey methods in this new project to document how households reason about and make their consumption-savings decisions. He illustrates how this could matter for macroeconomic models.
His current research explores how people make sense of the economic problems they face in their everyday lives, e.g., how they think they can make money on stock markets or how they deal with income shocks. A special feature of his work is that he considers how non-experts think about economics and explores how this can change economic activity.
The Modigliani Research Grant, now in its 15th iteration, was given by the UniCredit Foundation. It is worth 30,000 euros for a maximum duration of two years for research projects in economics and finance.
More about the UniCredit Foundation Modigliani Research Grant here
