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, reflecting about 17% of their gross annual income from Luxembourg and contributing about 10% to total household final consumption …; it analyses the cross-border consumption behaviour of cross-border commuter households residing in Belgium, France and … expenditure in Luxembourg. Cross-border consumption expenditure is shown to depend on individual and household characteristics …
Persistent link: https://www.econbiz.de/10011067250
There is a need to find better models and indicators for large disruptive events, not least in order to be more prepared and mitigate their effects. In this paper we take a step in this direction and discuss the performance of a financial stress indicator with a specific focus on the euro area....
Persistent link: https://www.econbiz.de/10008550447
This paper develops a framework for assessing systemic risks and for predicting (out-of-sample) systemic events, i.e. periods of extreme financial instability with potential real costs. We test the ability of a wide range of “stand alone” and composite indicators in predicting systemic...
Persistent link: https://www.econbiz.de/10008876538
in the measurement of household welfare all material components should be covered, i.e. consumption, income and wealth … consumption, income and wealth can be analysed. Current researches linking macro and micro information for the households have … focused on income and consumption as these are the areas where most data sources are available. This paper extends the focus …
Persistent link: https://www.econbiz.de/10010753724
apparent that in equilibrium, households jointly determine consumption and broad money holdings both influenced by wealth as …In this paper we analyse household holdings of the broad monetary aggregate M3 in the euro area from 1991 until 2009 … provides insights that go beyond the portfolio allocation decision of households. According to our analysis, it is quite …
Persistent link: https://www.econbiz.de/10008642629
typical estimations. In this paper, we show how heterogeneity in pricing behavior is relevant to both questions. We detail the … data, can be fully attributable to a heterogeneity bias. JEL Classification: C10, C22, E31, E52 …
Persistent link: https://www.econbiz.de/10005344921
This paper examines heterogeneity in price stickiness using a large, original, set of individual price data collected …. The main findings are the following: i ) cross-product and cross-outlet-type heterogeneity in both the shape of the hazard …
Persistent link: https://www.econbiz.de/10005162882
The aim of this study is to assess empirically to what extent the degree of heterogeneity of consumers’ inflation …
Persistent link: https://www.econbiz.de/10005049560
The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a … basis points between the best and worst-performers across the sample. This heterogeneity is found to be related to both the … anticipating monetary policy. Moreover, systematic forecaster heterogeneity is economically important as it leads to greater …
Persistent link: https://www.econbiz.de/10005530863
This paper studies optimal monetary policy responses in an economy featuring sectorial heterogeneity in the frequency …
Persistent link: https://www.econbiz.de/10005530877