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119 results, from 61
  • Externe referierte Aufsätze

    Mobile Money, Financial Inclusion, and Unmet Opportunities: Evidence from Uganda

    Mobile money is an important instrument to improve the degree of financial inclusion, especially in developing countries. However, having a mobile money account does not imply that this account is actually used. In our sample, 86% of microentrepreneurs own a mobile money account, but only 49% actively use it – the resulting gap indicates unmet opportunities. We estimate that mobile money reaches up ...

    In: Journal of Development Studies 58 (2022), 4, S. 671-691 | Jana S. Hamdan, Katharina Lehmann-Uschner, Lukas Menkhoff
  • Externe referierte Aufsätze

    The Effect of Personalized Feedback on Small Enterprises’ Finances in Uganda

    This randomized controlled trial examines the effect of a new finance training style during which participants are given personalized feedback on their financial business outcomes in addition to a rule-of-thumb training approach. We compare this with the effects of a rule-of-thumb training by itself and a control group. Targeting about 500 small entrepreneurs in Uganda, we find that the personalized ...

    In: Economic Development and Cultural Change 70 (2022), 3, S. 1197-1227 | Lukas Menkhoff, Antonia Grohmann, Helke Seitz
  • Externe referierte Aufsätze

    Risky Asset Holdings during Covid-19 and their Distributional Impact: Evidence from Germany

    We present evidence from a repeated survey on risky asset holdings carried out on a representative sample of the German population six times between April and June 2020. Given the size of the Covid-19 shock, we find little evidence of portfolio rebalancing in April 2020. In May, however, individual investors started buying heavily, parallel to market recovery. The cross-section shows large differences ...

    In: The Review of Income and Wealth 68 (2022), 2, . 497-517 | Lukas Menkhoff, Carsten Schröder
  • Externe referierte Aufsätze

    Foreign Exchange Intervention: A New Database

    We construct a novel database of monthly foreign exchange interventions for 49 countries over up to 22 years. We build on a text classification approach that extracts information about interventions from news articles and calibrate our procedure to data about actual interventions. This new dataset allows us to document stylized facts about the use of foreign exchange interventions for countries that ...

    In: IMF Economic Review im Ersch. (2022), [Online first: 2022-10-22] | Marcel Fratzscher, Tobias Heidland, Lukas Menkhoff, Lucio Sarno, Maik Schmeling
  • Externe referierte Aufsätze

    Active Learning Improves Financial Education: Experimental Evidence from Uganda

    We conduct a randomized field experiment to study the effects of two financial education interventions offered to small-scale retailers in rural western Uganda. The treatments contrast “active learning” with traditional “lecturing” within standardized lesson-plans. After six months, active learning has a positive effect on savings and investment outcomes, in contrast to small or zero effects for lecturing. ...

    In: Journal of Development Economics 157 (2022), 102870, 9 S. | Tim Kaiser, Lukas Menkhoff
  • Externe referierte Aufsätze

    Financial Education Affects Financial Knowledge and Downstream Behaviors

    We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. Many of these experiments are published in top economics and finance journals. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge ...

    In: Journal of Financial Economics 145 (2022), S. 255–272 | Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, Carly Urband
  • Externe referierte Aufsätze

    The Effectiveness of FX Interventions: A Meta-Analysis

    There is ample empirical literature centering on the effectiveness of foreign exchange intervention (FXI). Given the mix of objectives and country-heterogeneity, the general lack of consensus thus far is no surprise. We shed light on this debate by conducting the first comprehensive meta-analysis in the FXI literature, with 279 reported effects that stem from 74 distinct empirical studies. We cover ...

    In: Journal of Financial Stability (2022), im Ersch. [online first: 2020-10-07] | Lucía Arango-Lozano, Lukas Menkhoff, Daniela Rodríguez-Novoa, Mauricio Villamizar-Villegas
  • Externe referierte Aufsätze

    The Dynamic Impact of FX Interventions on Financial Markets

    Evidence on the effectiveness of foreign exchange (FX) interventions is either limited to short horizons or hampered by debatable identification. We address these limitations by identifying a structural vector autoregressive model for the daily frequency with an external instrument. Generally we find, for freely floating currencies, that FX intervention shocks significantly affect exchange rates and ...

    In: The Review of Economics and Statistics 103 (2021), 5, S. 939–953 | Lukas Menkhoff, Malte Rieth, Tobias Stöhr
  • Externe referierte Aufsätze

    Coupled Lotteries - a New Method to Analyze Inequality Aversion

    We develop and implement a new measure for inequality aversion: two peers are endowed with identical binary lotteries and the only choice they make is whether they want to play out the lotteries independently or with perfect positive correlation (coupling). Coupling has the core reason to prevent outcome inequality. We implement the method in a survey in rural Thailand as well as in a supplemental ...

    In: Journal of Economic Behavior & Organization 191 (2021), S. 236–256 | Melanie Koch, Lukas Menkhoff, Ulrich Schmidt
  • Externe referierte Aufsätze

    Financial Literacy: Thai Middle-Class Women Do Not Lag Behind

    This research studies the stylized fact of a “gender gap” in that women tend to have lower financial literacy than men. Our data which samples middle-class people from Bangkok does not show a gender gap for those with at least minimum wage earnings. This result is not explained by men’s low financial literacy, nor by women’s high income and good education. Rather, country characteristics may influence ...

    In: Journal of Behavioral and Experimental Finance 31 (2021), 100537, 10 S. | Antonia Grohmann, Olaf Hübler, Roy Kouwenberg, Lukas Menkhoff
119 results, from 61
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