We evaluate the impact of loan-to-value restrictions on household financial vulnerability. Using Norwegian tax data, we first document a beneficial leverage effect, in which households respond to the regulation by reducing house purchase probabilities, debt and interest expenses. Second, we...

This paper investigates how monetary expansion affects household consumption and savings through household debts. Using monetary policy cuts in China in the end of 2008 as an experiment, we find that the resulted increase in indebted households’ disposable income leads to increasing...

This paper develops a new class of poverty and inequality measures we call common prosperity. This measure complements existing classes of measures and allows decomposition across income sources or components of consumption expenditure. This framework enables us to study the trade-off between...

AI Talks @ ETUI is a series of inspiring (online) conversations which focus on the different dimensions of AI - ethical, social, environmental, legal, technological - and their impact on the world of work. Top experts from academia, civil society and online rights organizations, among others,...

A mixed-frequency semi-structural model is used for estimating unobservable quantities such as the output gap, the Phillips curve and the NAIRU in real time. We consider two specifications: in one the output gap is observed as the official CBO measure, in the other is unobserved and derived via...

Using OeNB Euro Survey data from fall 2020, we will briefly address the questions: Who has been affected by the covid-19 pandemic and how severely? We will look at the results along three dimensions: (1) across main socio-economic characteristics, (2) across regions and countries, (3) across...

The impact of a disaster on a country or a community is often measured using one aggregate metric: the total cost of the physical damages. While relevant to estimate financial needs for the reconstruction, this single number hardly represents the impact on the poorest people and households, who...

As the COVID-19 pandemic continues to affect lives around the world, it is becoming clear that the pandemic and its economic fallout are having a regressive effect on gender equality. Sociologist Jutta Allmendinger recently claimed the pandemic will set Germany back 30 years in terms of the...

ETUI webinar series: The New Normal: Prospects for the World of Work after the COVID Crisis. This webinar will look at the potential of a “living wage” to enable workers and their families to enjoy a decent standard of living in the aftermath of the COVID crisis. Alternatively, for many...