We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using … savers. We find symmetric effects on durable consumption, mainly driven by mortgagors with high debt burden or limited access …

.6 percentage points in Switzerland. The response of non-housing consumption in Switzerland is less heterogeneous across renters and …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …

spending on consumer spending. Our consumption data come from household-level retail purchases in the Nielsen scanner data and … local non-durable consumer spending by $0.29 and local auto spending by $0.09. We translate the regional consumption … our incomplete markets model from models with complete markets. At the zero lower bound, the aggregate consumption …