points in Switzerland. The response of non-housing consumption in Switzerland is less heterogeneous across renters and …

points in Switzerland. The response of non-housing consumption in Switzerland is less heterogeneous across renters and …

MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to …

The homeownership rate in Germany is one of the lowest among advanced economies. To better understand this fact, we … analyze the role of three specific policies which discourage homeownership in Germany: an extensive social housing sector with … broad eligibility criteria, high transfer taxes when buying real estate, and no tax deductions for mortgage interest …

beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once …

consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …