Winfried Koeniger
Title
Prof. Dr.
Last Name
Koeniger
First name
Winfried
Email
winfried.koeniger@unisg.ch
Phone
+41 71 224 23 09
69 results
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Item type:Publication, Consumer spending in Switzerland: insights from a novel transactional data index(Springer Science and Business Media LLC, 2025-12-30); ; ; Robert RohrkemperWe analyze transactional payment data to study consumption expenditure patterns in Switzerland. The high-frequency nature of the data enables credible identification of expenditure changes both across and within weeks, which is essential for business decisions and economic policy analysis. We construct a consumer spending index that is granular across regions and broad product categories, allowing for consistent analysis over multiple years. Using data starting in 2018, we demonstrate the index’s potential to (i) reveal expenditure patterns relevant for strategic decisions by businesses and consumers across weekdays and categories, and (ii) identify economically and statistically significant short-term effects of monetary policy shocks.Type:journal articleJournal:Swiss Journal of Economics and StatisticsVolume:161Issue:1Scopus© Citations 2 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The Heterogeneous Response of Real Estate Prices during the Covid-19 Pandemic(2024-08-01); ; Sandro HeinigerWe estimate the transmission of the pandemic shock in 2020 to the residential and commercial real estate market by causal machine learning, using granular data for Germany. We exploit differences in the incidence of Covid infections and short-time work at the municipal level for the identification of epidemiological and economic effects of the pandemic. We find that (i) a larger incidence of Covid infections temporarily reduced rents for retail real estate; (ii) a larger incidence of short-time work temporarily reduced rents of office real estate; (iii) the pandemic increased prices, particularly in the top price segment of commercial real estate.Type:journal article - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Monitoring consumption Switzerland: data, background, and use cases(Springer Open, 2023-03-20); ; ; Lalive, RafaelType:journal articleJournal:Swiss Journal of Economics and StatisticsVolume:159:4Issue:2023Scopus© Citations 7 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, On the Transmission of Monetary Policy to the Housing Market(Swiss National Bank, Working Papers 2021-06, 2022); ; Ramelet, Marc-AntoineWe provide empirical evidence on the heterogeneous transmission of monetary policy to the housing market across and within countries. We use household-level data from Germany, Italy and Switzerland together with the respective monetary policy shocks identified from high-frequency data. We find that the pass-through of monetary policy shocks to rates of newly originated (fixed-rate) mortgages is twice as strong in Switzerland than in Germany and Italy. After an accommodative monetary policy shock, this is associated in the housing market with a larger immediate, and persistent increase of transitions from renting to owning; a stronger decrease in rents; and an increase of the price-rent ratio. Within Italy, we find a stronger pass-through to mortgage rates, housing tenure transitions and the price-rent ratio in the northern regions that have been characterized in the literature as more financially developed than the southern regions.Type:journal article - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Opportunity and Inequality across GenerationsWe analyze how intergenerational mobility and inequality would change relative to the status quo if dynasties had access to optimal insurance against low ability of future generations. Based on a dynamic, dynastic Mirrleesian model, we find that insurance against intergenerational ability risk increases in the social optimum relative to the status quo. This implies less intergenerational mobility in terms of welfare but no quantitatively significant change in earnings mobility. Earnings mobility is thus similar across economies with different incentives and welfare, illustrating that changes in earnings mobility cannot be interpreted readily in welfare terms without further analysis.Type:journal articleJournal:Journal of Public EconomicsVolume:208Issue:104623Scopus© Citations 3 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Buffer-Stock Saving and Households’ Response to Income ShocksType:journal articleJournal:International Economic ReviewVolume:61Issue:3Scopus© Citations 9 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Household Debt and Crises of Confidence(2018-11-28)Scopus© Citations 3 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Human Capital and Optimal RedistributionWe characterize optimal redistribution in a dynastic economy with observable human capital and hidden ability. We show that the wedge between human capital investment in the laissez faire and the social optimum differs from the wedge for bequests because (i) returns to human capital are risky, and (ii) human capital may change informational rents. We compute the optimal allocation when ability is persistent across generations, as calibrated for the U.S. We show how the allocation can be implemented with student loans featuring contingent repayments. The quantitative results reveal that human capital investment should (i) increase in parental income because of ability transmission across generations, but (ii) decrease in inherited assets because of the negative effect of wealth on labor supply.Type:journal articleJournal:Review of Economic DynamicsVolume:27Scopus© Citations 10 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Debt Portfolios and Homestead ExemptionsType:journal articleJournal:American Economic Journal: MacroeconomicsVolume:8Issue:4Scopus© Citations 10 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Hidden Insurance in a Moral-Hazard EconomyWe analyze the general equilibrium of an economy in which a competitive industry produces nonexclusive insurance services. The equilibrium is inefficient because insurance contracts cannot control moral hazard, and welfare can be improved by policies that reduce insurance by increasing its price above marginal cost. We discuss how insurance production costs that exceed expected claim payments interact with moral hazard in determining the equilibrium's inefficiency, and show that these costs can make insurance premia so actuarially unfair as to validate the standard first-order conditions we exploit in our analysis.Type:journal articleJournal:The RAND Journal of EconomicsVolume:46Issue:4Scopus© Citations 3