Household Finance

The department Household Finance conducts research on the financial decisions of private households and the interplay between the supply of and the demand for financial services. The research projects in this area are united by the overarching goal of developing solutions that lead to better financial decisions by households. In addition to the microeconomic perspective, the department also follows a macroeconomic perspective, for example concerning the design of pension systems as a determinant of both the depth and width of capital markets and long-term wealth formation in the household sector of an economy.

Publications

Author/s Title Area Type Published
Peter Andre, Paul Heidhues, Botond Köszegi, Takeshi Murooka Procrastination and Competition Failure
SAFE Working Paper No. 477 		Household Finance SAFE Working Paper 2026
Christine Laudenbach, Ulrike M. Malmendier, Alexandra Niessen-Ruenzi The Long-Lasting Effects of Living under Communism on Attitudes towards Financial Markets
The Journal of Finance 		Household Finance Published Paper 2026
Peter Andre, Felix Chopra, Luca Michels, Johannes Wohlfart Do People Have Economic Expectations?
SAFE Working Paper No. 475 		Household Finance, Experiment Center SAFE Working Paper 2026
Peter Andre, Claudia Schaffranka, Michael Weber Upward Bias in Inflation Perceptions: Persistence, Relevance, Implications (prepared at the request of the European Parliament)
White Paper No. 117 		Household Finance Policy Paper 2026
Andreas Fuster, Virginia Gianinazzi, Andreas Hackethal, Philip Schnorpfeil, Michael Weber The Response of Debtors to Rate Changes
SAFE Working Paper No. 469 		Household Finance SAFE Working Paper 2026
Claes Bäckman, Walter D'Lima, Natalia Khorunzhina Housing Capital Gains across the Income Distribution
SAFE Working Paper No. 467 		Household Finance SAFE Working Paper 2026
Olga Balakina, Vimal Balasubramaniam, Aditi Dimri, Renuka Sane Unshrouding Product-Specific Attributes Through Financial Education
Journal of Development Economics 		Household Finance Published Paper 2026
Kevin Bauer, Oliver Hinz, Ekaterina Jussupow, Lena Liebich, Moritz von Zahn Knowing (Not) to Know: Explainable Artificial Intelligence and Human Metacognition
forthcoming Information Systems Research 		Household Finance Published Paper 2026
Peter Andre, Ingar Haaland, Christopher Roth, Mirko Wiederholt, Johannes Wohlfart Narratives about the Macroeconomy
forthcoming in Review of Economic Studies 		Household Finance, Behavioral Finance Published Paper 2026
Konstantin Bräuer, Andreas Hackethal, Tobin Hanspal, Samuel M. Hartzmark Educating Investors about Dividends
forthcoming in The Review of Financial Studies 		Household Finance Published Paper 2026

Current Research Team

Researcher Position
Bäckman, Claes Postdoctoral Researcher
Balakina, Olga Postdoctoral Researcher
Chen, Jasmine Research Assistant
Duraj, Kamila Research Assistant
Eyting, Markus Postdoctoral Researcher
Famulok, Jakob Research Assistant
Gill, Andrej SAFE Fellow
Hackethal, Andreas Bridge Professor
Hett, Florian SAFE Fellow
Huang, Zhuowei Postdoctoral Researcher
Jürß, Anika Research Assistant
Laudenbach, Christine Professor
Maurer, Raimond SAFE Fellow
Mitchell, Olivia S. SAFE Fellow
Schirmer, Philipp Research Assistant
Wies, Simone SAFE Fellow
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