finance and consumption. Given the breadth of the topic, it focuses on issues that are particularly relevant for policy …, namely i) wealth effects on consumption, ii) housing prices and household indebtedness, iii) retirement income, consumption … and pension reforms, iv) access to credit and credit constraints, v) financial innovation, consumption smoothing and …

service ratios, and measures of financial wealth. Interactions with housing investment and saving are also analysed. In …-of-funds data enable portfolio shifts between money and other financial assets to be assessed and trends in bank intermediation to …

prices of most consumer goods. They are the main interface between producers of consumer goods and consumers, with around … half of private consumption accounted for by retail trade. The “value added” of this intermediation service can be …

consumer prices. Nevertheless, understanding the link between energy price fluctuations, inflationary pressures and the role of … price fluctuations seems to have been more muted during the past decade than in earlier periods such as the 1970s. JEL …

The paper provides an analysis of the euro area money and bond markets and their infrastructure since the introduction …

financial transactions relative to transactions in goods and services; the increase in the number of countries adopting …