We estimate the percentage of eligible students who do not take up their federal need-based student financial aid entitlements in a microsimulation model for the German Socio-Economic Panel Study 2002--2013. We find that about 40% of the eligible low-income students do not take up their entitlements. Non-take-up is inversely and rather…

The literature in economic psychology and quality-of-life studies alludes to a negative relationship between materialism and life satisfaction. In contrast, the macroeconomic literature implies a positive relationship between material consumption and economic growth. That is, materialism may be both good and bad. We develop a model that reconciles…