portfolios, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the … heterogeneity in household finances implies that responses of consumption to changes in the real interest rate and in house prices …

wealth is difficult to establish due to many potential sources of endogeneity. Utilizing the Household Finance and … Consumption Survey for the Euro area, we correct for endogeneity by using inheriting the household's main residence as an … wealth position of the household only through homeownership. For the sample of inheritors we find that the local average …

to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and …

financial risk, but would also impose austerity on the rest of Europe. The resulting new wave of crisis could trigger a new …

The recently published Household Finance and Consumption Survey has revealed large differences in wealth inequality …. Our analysis suggests that the cross-country variation is mostly driven by differences in the savings behavior of … households in the bottom half of the wealth distribution and that those differences in savings are to a large extent channeled …

time to different activities. In order to do so, we empirically estimate a collective household labor supply model. The … main findings are that: (1) Leisure and household income are the most important variables in the utility function of the … male. (2) Leisure, total household production and total household production interacted with family size are important …

differences, variation in the price of child care and domestic productivity differences as determinants of across-household … heterogeneity in second earner labor supply, and of the resulting relationship between household income and the well-being of … household members. A central result is that taking account of a richer and more realistic specification of household time use …

information structure and labor supply decisions follow the Mirrleesian tradition. However, while the household's total …