degree of autocorrelation, with a stickiness parameter of about 0.7 on average across countries. The sticky … Mankiw (1989) model. In several countries, the sticky-consumption-growth and Campbell-Mankiw models work about equally well …

accounts). We use survey data on household portfolios for the U.S., Canada, Australia, the U.K., Germany, France, Italy, and … Spain to document the share of such households across countries, their demographic characteristics, the composition of their … for macroeconomic modeling and fiscal policy analysis …

taken into account. Comparisons of Engel curves are also made to households in Great Britain and Germany. Results from … and on liquor and tobacco. Although differences by ethnicity existed, both British and German immigrants to the United …

inflation burden. We use micro price data for food products sold by 91 large multi-channel retailers in ten countries between …

The paper analyzes consumption decisions of retired workers, using Danish register data. A major puzzle, which … implication that wealth should decline over time. The risk of large out-of-pocket medical expenditures is negligible in Denmark … explanations are not plausible for Denmark (and therefore also questionable for the U.S.). Our analysis instead attempts to explain …

countries in their policy decisions, as well as by the international organizations that evaluate and comment on countries …' macroprudential policy. New results for Australian microdata are presented that reject the debt-overhang hypothesis. The results …

large is such effect? What are the economic mechanisms behind it? We use long panel data on the entire Danish population to … and exogenous peer effects. Estimated effects are quite relevant for policies as they generate non-negligible multiplier …

generally the largest household liability, and mortgage refinancing is an important channel for monetary policy transmission, so … inactivity in this setting can be socially costly. We study how the Danish population responds to mortgage refinancing incentives … policies to make such households aware of refinancing opportunities or to refinance mortgages automatically …

We exploit the unexpected announcement of an immediate, temporary VAT cut in Germany in the second half of 2020 as a … natural experiment to study the spending response to unconventional fiscal policy. We use survey and scanner data on …-through. Semi- and non-durable spending also increased. According to our preferred estimates, the VAT policy increased aggregate …