Maarten van Rooij

Short Bio

Maarten van Rooij is Principal Economist at De Nederlandsche Bank. He is contact person for activities at the Bank related to the DNB Household Survey (DHS). He is also affiliated to Netspar as research fellow and member of the Netspar Editorial Board.

Education

2009 - Ph.D. Economics, Utrecht University
1995 - M.Sc. Econometrics (Cum laude), Tilburg University

Research Interests

• Financial household behaviour
• Retirement decisions
• Housing and mortgages 

Working Papers

Keeping up with the Jansens: Causal peer effects on household spending, beliefs and happiness, DNB Working Paper No. 804, 2024. (with Olivier Coibion, Dimitris Georgarakos, Bernardo Candia and Yuriy Gorodnichenko). Download

The impact of high inflation on trust in national politics and central banks (with Carin van der Cruijsen and Jakob de Haan), DNB Working Paper No. 762, 2023. Download

Reactions of household inflation expectations to a symmetric inflation target and high inflation (with Gabriele Galati and Richhild Moessner). DNB Working Paper No. 743, April 2022. Download August 2022 update.

Anchoring of consumers’ long-term euro area inflation expectations during the pandemic (with Gabriele Galati and Richhild Moessner), DNB Working Paper No. 715, 2021. Download

Fearless woman: Financial literacy and stock market participation (with Tabea Bucher-Koenen, Rob Alessie and Annamaria Lusardi), DNB Working Paper No. 708, 2021. Download

Skating on thin ice: New evidence on financial fragility (with Jasmira Wiersma, Rob Alessie, Adriaan Kalwij, Annamaria Lusardi and Maarten van Rooij), DNB Working Paper No. 670, 2020. Download

See further my Repec page  

Publications in refereed journals

Olivier Coibion, Dimitris Georgarakos, Yuriy Gorodnichenko and Maarten van Rooij (2023), How does consumption respond to news about inflation? Field evidence from a randomized control trial, American Economic Journal: Macroeconomics, 15(3), 109-152.

Gabriele Galati, Richhild Moessner and Maarten van Rooij (2023), The anchoring of long-term inflation expectations of consumers: Insights from a new survey, Oxford Economic Papers 75(1), 96-116. Download

Florian Heiss, Michael Hurd, Maarten van Rooij, Tobias Rossmann and Joachim Winter (2022), Dynamics and heterogeneity of subjective stock market expectations, Journal of Econometrics, 231, 213-231.

Dimitris Christelis, Dimitris Georgarakos, Tullio Jappelli, Luigi Pistaferri, and Maarten van Rooij (2021), Heterogeneous wealth effects, European Economic Review 137, 103805.

Dimitris Christelis, Dimitris Georgarakos, Tullio Jappelli, and Maarten van Rooij (2020), Trust in the central bank and inflation expectations, International Journal of Central Banking 16(6), 1-37.

Dimitris Christelis, Dimitris Georgarakos, Tullio Jappelli, and Maarten van Rooij (2020), Consumption uncertainty and precautionary saving, Review of Economics and Statistics 102(1), 148-161. Download

Niels Vermeer, Maarten van Rooij and Daniel van Vuuren (2019), Retirement age preferences: the role of social interactions and anchoring at the statutory retirement age, De Economist 167(4), 307-345. Download

Maarten Van Rooij and Jakob de Haan (2019), Would helicopter money be spent? New evidence for the Netherlands, Applied Economics 51(58), 6171-6189.

Dimitris Christelis, Dimitris Georgarakos, Tullio Jappelli, Luigi Pistaferri and Maarten van Rooij (2019), Asymmetric consumption effects of transitory income shocks, The Economic Journal 129 (August), 2322-2341. Download

Carin van der Cruijsen, David-Jan Jansen and Maarten van Rooij (2018), The rose-tinted spectacles of homeowners, Journal of Consumer Affairs 52(1), 61-87. Download

Bruine de Bruin, W., W. van der Klaauw, M. van Rooij, F. Teppa, and K. de Vos (2017), Measuring expectations of inflation: Effects of survey mode, wording, and opportunities to revise, Journal of Economic Psychology 59, 45-58. Download

Bucher-Koenen, T., A. Lusardi, R. Alessie, and M. van Rooij (2017).How financially literate are women? An overview and new insights, Journal of Consumer Affairs 51(2), 255-283. Download    

van Ooijen, R. and M. van Rooij (2016), Mortgage risk, debt literacy and financial advice, Journal of Banking and Finance 72, 201–217. Download

van Rooij, M., and F. Teppa (2014), Personal traits and individual choices: Taking action in economic and non-economic decisions, Journal of Economic Behavior & Organization 100, 33-43. Download

van Rooij, M., A. Lusardi en R. Alessie (2012), Financial literacy, retirement planning, and household wealth, The Economic Journal 122 (May), 449–478. Download

Alessie, R., M. van Rooij, and A. Lusardi (2011), Financial literacy and retirement preparation in the Netherlands, Journal of Pension Economic and Finance 10(4), 527-546. Download

van Rooij, M.C.J., A. Lusardi, and R.J.M. Alessie (2011), Financial literacy and retirement planning in the Netherlands, Journal of Economic Psychology 32, 593-608. Download

van Rooij, M.C.J., A. Lusardi, and R.J.M. Alessie (2011), Financial literacy and stock market participation, Journal of Financial Economics 101(2), 449-472. Download

Hurd, M., M.C.J. van Rooij, and J. Winter (2011), Stock market expectations of Dutch Households, Journal of Applied Econometrics 26, 416-436. Download

van Rooij, M.C.J., A.H. Siegmann, and P.J.G. Vlaar (2008), Market valuation, pension fund policy and contribution volatility, De Economist 156, 73-93. Download

van Rooij, M.C.J., C.J.M. Kool, and H.M. Prast (2007), Risk-return preferences in the pension domain: are people able to choose?, Journal of Public Economics 91, 701-722. Download

Christensen, C.A., P.J.A. van Els, and M.C.J. van Rooij (2006), Dutch households' perceptions of economic growth and inflation, De Economist 154, 277-294. Download

van Els, P.J.A., W.A. van den End and M.C.J. van Rooij (2004), Pensions and public opinion: a survey among Dutch households, De Economist 152, 101-116.

Punt, L.W. and M.C.J. van Rooij (2003), The profit-structure relationship and mergers in the European banking industry: an empirical assessment, Kredit und Kapital 36, 1-29.

Eijffinger, S.C.W., M.C.J. van Rooij, and E. Schaling (1996), Central bank independence: a paneldata approach, Public Choice 89, 163-182.

Publications in Books

van Rooij, M.C.J. (2008), Financial Literacy, Retirement Provisions, and Household Portfolio Behavior, Dissertation, Utrecht University, The Netherlands, ISBN: 978 90 393 4974 8. Download

van Els, P.J.A., M.C.J. van Rooij, and M.E.J. Schuit (2007), Why mandatory retirement saving?, in: O.W. Steenbeek and S.G. van der Lecq (eds.), Costs and benefits of collective pension systems, Springer, Berlin, 159-186. 

van Els, P.J.A, W.A. van den End, and M.C.J. van Rooij (2005), Financial behaviour of Dutch households: analysis of the DNB Household Survey. In: Investigating the relationship between the financial and real economy, BIS Papers, 22, 1-40. 

Other publications

Volkerink, M., F. van Moock, and M. van Rooij (2024), Arbeidsmarktkrapte: Het nieuwe normaal?, DNB Analyse, 8 Februari. Download

Van Dijk, D., and M. van Rooij (2023), Mismatch woningmarkt voor 1,8 miljoen huishoudens, Economisch Statistische Berichten 108(4828), 552-554. Download

Van der Cruijsen, C., J. de Haan, and M. van Rooij (2023), High inflation erodes trust in the ECB, VoxEU Column, 25 January. Download

Van Hoenselaar, F., G. Eijsink, N. Rupert, C. Biesenbeek, D. van Dijk, F. Teppa, M. van Rooij, and M. Mastrogiacomo (2023), Kwetsbaarheid en veerkracht van Nederlandse huishoudens: Een analyse vanuit een breed welvaartsperspectief, DNB Occasional Studies, 21(1). Download

Bolt, W., D. Bonam, G. Hebbink, M. van Rooij, M. De Veirman, and M. Volkerink (2022), Wisselwerking lonen en prijzen: een negatieve spiraal?, DNB Analyse, 2 November. Download

Galati, G., R. Moessner, and M. van Rooij (2022), Household inflation expectations react to high euro area inflation, SUERF Policy Brief, 407.

Van Dijk, D., and M. van Rooij (2022), Bouwen voor ouderen kan gehele woningmarkt toegankelijker maken, Economisch Statistische Berichten 107(4809S), 56-59.

Galati, G., R. Moessner and M. van Rooij (2021), How well are consumers’ inflation expectations anchored to the ECB’s inflation aim?, SUERF Policy Brief, 130.

De Bock, J., and M. van Rooij (2021), Virtueel werken en virtuele besluitvorming: Kansen, ervaringen en risico’s, DNB Analyse, nr. 3, 28 June. Download

Mink, M., and M. van Rooij (2018), Huizenprijzen en pensioenen bepalend voor vermogens van generaties, Economisch Statistische Berichten 103(4760), 172-174.

Van Rooij, M. (2016), De rol van feiten en gevoel in consumptiegedrag (The role of facts and feelings in consumer behavior), Economisch Statistische Berichten 101(4742S), 53-54.

Houben, A., and M. van Rooij (2016), Aanpassingen financiële systeem nog onvoldoende voor breed herstel vertrouwen, Me Judice, 16 September.

Van Rooij, M. (2015), Een consumentenperspectief op pensioenkeuzes (A consumer's perspective on pension choices), Economisch Statistische Berichten 100(4703S), 70-74.

Van Rooij, M., N. Vermeer, and D. van Vuuren (2014), Langer doorwerken zonder financiële prikkel (Raising the age of retirement without financial incentives), Me Judice, 25 June.

Van Rooij, M., N. Vermeer, and D. van Vuuren (2014), Sociale interacties van invloed op de arbeidsparticipatie van ouderen (Influence of social interactions on labor participation of the elderly), Netspar NEA Papers, 53.

Bucher-Koenen, T., A. Lusardi, R. Alessie, and M. van Rooij (2012), How financially literate are women? Some new perspectives on the gender gap, Netspar Panel Paper, 31.

van der Cruijsen, C., and M. van Rooij (2012), Optimisme over eigen woning (Optimism about own home), Economisch Statistische Berichten 97(4641), 484-486.

van Rooij, M., H. Prast, and A. Smits (2011), Gedragsreacties van deelnemers op nieuwe contracten (Participants' behavioural responses to new contracts), Economisch Statistische Berichten 96 (4625), 52-57.

van Rooij, M., R. Alessie, and A. Lusardi (2011), Pensioenakkoord vereist financieel inzicht (Pension contract requires financial literacy), Economisch Statistische Berichten 96, 480-482.

Lusardi, A., and M. van Rooij (2010), Financial literacy: Evidence and implications for consumer education, Netspar Panel Paper, 16.

Kapteyn, A., and M.C.J. van Rooij (2010), Adequacy of savings for old age in Europe (Discussion of E. Fornero, A. Lusardi, and C. Monticone), in: L. Bovenberg, A. van Soest, and A. Zaidi (eds.), Ageing, health and pensions in Europe: An economic and social policy perspective, Palgrave Macmillan, pp. 36-40.

Early retirement, the life course savings scheme and Dutch household wealth, DNB Quarterly Bulletin, March 2008, 31-35.

Limited financial literacy among Dutch households, DNB Quarterly Bulletin, June 2006, 45-51.

van Els, P.J.A., M.C.J. van Rooij, and M.E.J. Schuit (2006), Nut en noodzaak van verplicht pensioensparen (Use and need of compulsary pension savings), in: S.G. van der Lecq and O.W. Steenbeek (eds.), Kosten en baten van collectieve pensioensystemen, Kluwer, 191-220.

van Renselaar, C., and M.C.J. van Rooij (2006), Prijsstabiliteit en vertrouwen in de ECB (Price stability and trust in the ECB), Economisch Statistische Berichten 91(4493), 434-436.

Prast, H.M., M.C.J. van Rooij, and C.J.M. Kool (2005), Werknemer kan én wil niet zelf beleggen voor pensioen (Employee can and will not on his own invest for his pension), Economisch Statistische Berichten 90(4458), 172-175.

van Rooij, M.C.J., A.H. Siegmann, and P.J.G Vlaar (2005), Beleidsopties voor pensioenfondsen (Policy options for pension funds), Economisch Statistische Berichten 90(4456), 124-127.

van Rooij, M.C.J., A.H. Siegmann, and P.J.G. Vlaar (2005), De consequenties van fair value bij pensioenfondsen: een analyse met het DNB pensioenmodel PALMNET (The consequences of fair value for pension funds: an analysis with the DNB pension model PALMNET), De Actuaris 12(3), 17-19.

Stress testing the Dutch Financial Sector, DNB Quarterly Bulletin, September 2004, 89-97.

Financial Behaviour of Dutch Households, DNB Quarterly Bulletin, September 2004, 69-81.

Financial Behaviour of Dutch Households, DNB Quarterly Bulletin, September 2003, 39-50.

van Rooij, M.C.J. (2003), Hypotheek: financieel avontuur of zekerheid? (Financial adventure or certainty?), Tijdschrift voor de Volkshuisvesting, July, 43-45 (book review).

Spotlight on household wealth management in the Netherlands, DNB Quarterly Bulletin, June 2002, 27-36.

van Rooij, M.C.J. (2002), Geen stress voor hypotheekbezitters (No stress for mortgage owners), Economisch Statistische Berichten 87(4388), 889-891.

Bolt, W., M.C.J. van Rooij, and A.F. Tieman (2002), Nooit meer hoge inflatie (Never again high inflation), Economisch Statistische Berichten 87(4347), 130-131 (book review).

Survey among Dutch mortgage-holders on the use of mortgage credit, DNB Quarterly Bulletin, June 2000, 31-43.

The Dutch housing and mortgage markets: a risk analysis, DNB Quarterly Bulletin, September 1999, 23-33.

van Rooij, M.C.J., and L. Vos (1999), De samenhang tussen Europese huizenprijzen (The relationship between European housing prices), Maandschrift Economie, 63, 224-229.

The Netherlands economy in 1999 and 2000: a forecast based on MORKMON, DNB DNB Quarterly Bulletin, December 1998, 91-104.

Survey of the Dutch public’s and business community’s attitude to the euro, DNB Quarterly Bulletin, December 1996, 45-71

Latest update: March 2024