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Wealth effects in emerging market economies

Peltonen, Tuomo; Sousa, Ricardo M.; Vansteenkiste, Isabel - 2009

We build a panel of 14 emerging economies to estimate the magnitude of housing, stock market, and money wealth eÞects on consumption. Using modern panel data econometric techniques and quarterly data for the period 1990:1-2008:2, we show that: (i) wealth effects are statistically significant...

Persistent link: https://www.econbiz.de/10003831615

Household spending and fiscal support during theCOVID-19 pandemic : insights from a new consumer survey

Georgarakos, Dimitris; Kenny, Geoff - 2022

This paper introduces the Consumer Expectations Survey (CES), a new online, high frequency panel survey of euro area consumers' expectations and behaviour. The paper also investigates whether public perceptions about fiscal support measures introduced during the pandemic have influenced spending...

Persistent link: https://www.econbiz.de/10012818792

The COVID-19 consumption game-changer : evidence from a large-scale multi-country survey

Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie J.; … - 2021

Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis has a sustained impact on consumer confidence, preferences, and, hence, spending....

Persistent link: https://www.econbiz.de/10012643267

The Covid-19 crisis and consumption : survey evidence from six EU countries

Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - 2020

Using new panel data from a representative survey of households in the six largest euro area economies, the paper estimates the impact of the Covid-19 crisis on consumption. The panel provides, each month, household-specific indicators of the concern about finances due to Covid-19 from the first...

Persistent link: https://www.econbiz.de/10012390462

House Prices, Money, Credit and the Macroeconomy

Goodhart, Charles A. E. (contributor); … - 2008

This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...

Persistent link: https://www.econbiz.de/10003778768

Balance sheet interlinkages and macro-financial risk analysis in the Euro area

Kavonius, Ilja Kristian; Castrén, Olli - 2009

The financial crisis has highlighted the need for models that can identify counterparty risk exposures and shock transmission processes at the systemic level. We use the euro area financial accounts (flow of funds) data to construct a sector-level network of bilateral balance sheet exposures and...

Persistent link: https://www.econbiz.de/10003969268

Modeling the consumption response to the CARES Act

Carroll, Chris; Crawley, Edmund S.; Slacalek, Jirka; … - 2020

To predict the effects of the 2020 U.S. "CARES" act on consumption, we extend a model that matches responses of households to past consumption stimulus packages. The extension allows us to account for two novel features of the coronavirus crisis. First, during the lockdown, many types of...

Persistent link: https://www.econbiz.de/10012241286

Revenue- versus spending-based consolidation plans : the role of follow-up

Beetsma, Roel; Furtuna, Oana; Giuliodori, Massimo - 2018

The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...

Persistent link: https://www.econbiz.de/10011904377

Cross-country price and inflation dispersion : retail network or national border?

Messner, Teresa; Rumler, Fabio; Strasser, Georg - 2023

distribution networks and of the structure of the sales organization as a driver of price and inflation heterogeneity. …

Persistent link: https://www.econbiz.de/10013552597

Bank heterogeneity and monetary policy transmission

Brissimis, Sophocles N.; Delēs, Manthos D. - 2010

Heterogeneity in the response of banks to a change in monetary policy is an important element in the transmission of … enables us to quantify the degree of heterogeneity in the transmission mechanism. It is argued that the extensive … heterogeneity in banks’ response identifies overlooked consequences of bank behavior and highlights potential monetary sources of …

Persistent link: https://www.econbiz.de/10008657136