Essays in household finance
File(s)
Author(s)
Bartzoka, Louiza
Type
Thesis
Abstract
Why do households' financial decisions deviate from what we would expect under the rational, fully informed paradigm? This thesis focuses on two possible reasons that can lead to such deviations in households' financial decisions: household subjective perceptions and expectations of macroeconomic variables and asset prices, as well as the differential credit constraints households may be subject to. Specifically, this thesis examines house price perceptions and the housing wealth effect, the impact of subjective expectations on household saving decisions, and the distributional effects of credit constraints on the mortgage refinancing channel. Addressing each of these topics deepens our understanding of why households behave the way they do, and the findings have significant implications for the effectiveness of monetary policy.
Version
Open Access
Date Issued
2024-04-30
Date Awarded
2024-07-01
Copyright Statement
Creative Commons Attribution NonCommercial Licence
License URL
Advisor
Ramadorai, Tarun
Sponsor
Economic and Social Research Council (Great Britain)
Publisher Department
Business School
Publisher Institution
Imperial College London
Qualification Level
Doctoral
Qualification Name
Doctor of Philosophy (PhD)
Rights Embargo Date
2026-06-30