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Identifying Income and Wealth-Poor Households in the Euro Area

Müller, Philip - 2016

from the 2010 Household Finance and Consumption Survey (HFCS). We are particularly interested in the way in which specific …

Persistent link: https://www.econbiz.de/10012988671

Household Saving Behavior and Credit Constraints in the Euro Area

Le Blanc, Julia - 2016

We study the role of household saving behaviour, of individual motives for saving and that of perceived liquidity … constraints in 15 Euro Area countries. The empirical analysis is based on the Household Finance and Consumption Survey, a new … harmonized data set collecting detailed information on wealth holdings, consumption and income at the household level. Since the …

Persistent link: https://www.econbiz.de/10012988731

How Do Households Allocate Their Assets? Stylized Facts from the Eurosystem Household Finance and Consumption Survey

Arrondel, Luc - 2016

Using the Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households' wealth in fifteen … participation as well as levels of asset holdings and investigate the systematic relationships between household characteristics and …

Persistent link: https://www.econbiz.de/10012988733

Comovements and Heterogeneity in the Euro Area Analyzed in a Non-Stationary Dynamic Factor Model

Eickmeier, Sandra - 2007

This paper establishes stylized facts on comovements and heterogeneity of individual euro-area countries' output and price developments in the past two decades. For this purpose, a non-stationary structural dynamic factor model is fit to a dataset of euro-area macroeconomic variables. The main...

Persistent link: https://www.econbiz.de/10012731592

On Measuring Uncertainty and its Impact on Investment : Cross-Country Evidence from the Euro Area

Meinen, Philipp - 2016

Investment fell sharply in the euro area after the financial crisis and has not yet returned to pre-crisis levels in many core economies. Focusing on the four largest euro-area countries, this paper investigates the role of uncertainty for investment dynamics. By doing so, we compare five...

Persistent link: https://www.econbiz.de/10012977301

Transmission of Global Financial Shocks to EMU Member States : The Role of Monetary Policy and National Factors

Gelman, Maria - 2016

The paper analyses the transmission of global financial shocks to individual member states of the European Monetary Union (EMU), in which monetary policy is delegated to the ECB and financial markets are fully integrated. Using a panel VAR model, we show that the asymmetric effects of global...

Persistent link: https://www.econbiz.de/10012987205

Inflation Anchoring in the Euro Area

Speck, Christian - 2016

Did the decline in inflation rates from 2012 to 2015 and the low levels of market-based inflation expectations lead to de-anchored inflation dynamics in the euro area? This paper is the first time-varying event study to investigate the reaction of inflation-linked swap (ILS) rates - a...

Persistent link: https://www.econbiz.de/10012988630

Heterogeneity in Euro-Area Monetary Policy Transmission : Results from a Large Multi-Country BVAR Model

Mandler, Martin - 2016

We study cross-country differences in monetary policy transmission across the large four euro-area countries (France, Germany, Italy and Spain) using a large Bayesian vector autoregressive model with endogenous prior selection. Drawing both on the posterior distributions of the cross-country...

Persistent link: https://www.econbiz.de/10012988640

Current Account Adjustment in EU Countries : Does Euro-Area Membership Make a Difference?

Herrmann, Sabine - 2016

The paper evaluates current account dynamics in countries with different exchange rate regimes within the EU. In this, the empirical analysis explicitly differentiates between countries with a flexible and a fixed exchange rate regime and members of a monetary union. In addition, we model the...

Persistent link: https://www.econbiz.de/10012988643

Asymmetric Credit Growth and Current Account Imbalances in the Euro Area

Unger, Robert - 2016

The euro area crisis is often linked to the emergence of current account imbalances. As most of the deficit countries experienced pronounced credit booms at the same time that these imbalances were building up, this paper investigates the link between domestic credit developments and the current...

Persistent link: https://www.econbiz.de/10012988672