Available studies on asymmetries in the monetary transmission mechanism within Europe are invariably based on macro-economic evidence: such evidence is abundant but often contradictory. This paper takes a different route by using micro-economic data. We use the information contained in the...

We use a detailed micro dataset on product availability to construct a direct high-frequency measure of consumer product shortages during the 2020-2021 pandemic. We document a widespread multi-fold rise in shortages in nearly all sectors early in the pandemic. Over time, the composition of...

This technical report presents the dynamic microsimulation model microWELT-US developed for US labour force projections accounting for education and health. microWELT-US is the adaptation of an existing microsimulation model for Europe. The microsimulation model supports a comparative analysis...

This working paper presents Chapter 7 of a book to be published for the National Bureau of Economic Research by the University of Chicago Press. The point of the book is to compare taxes on income from capital in four countries,accounting for corporate, personal, and property taxes, and...

This working paper presents Chapter 2 of a book that has been submitted to the University of Chicago Press for publication consideration. The point of the book is to compare taxes on income from capital infour countries,accounting for corporate, personal, and property taxes, and including...

Many households hold little wealth, especially liquid wealth. In precautionary savings models, absent preference heterogeneity, these households should display not only higher marginal propensities to consume (MPCs), but also lower average propensities to consume (APCs) and higher future...

This paper provides evidence on child penalties in female and male earnings in different countries. The estimates are based on event studies around the birth of the first child, using the specification proposed by Kleven et al. (2018). The analysis reveals some striking similarities in the...

This paper studies household financial choices in four euro area countries. The goal of the analysis is to understand the sources of the differences in these choices and their implications for the impact of monetary policy on consumption. The estimation of key parameters uses a simulated method...