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Differences in euro-area household finances and their relevance for monetary-policy transmission

Hintermaier, Thomas; Koeniger, Winfried - 2018

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 …

Persistent link: https://www.econbiz.de/10011863469

Perceived wealth, cognitive sophistication and behavioral inattention

Assenza, Tiziana; Cardaci, Alberto; Delli Gatti, Domenico - 2019

By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance sheet profiles may be perceived as non fungible in a controlled frictionless environment with no probabilistic attributes. A large majority of subjects indeed have a bias in...

Persistent link: https://www.econbiz.de/10012138808

The saving glut of the rich and the rise in household debt

Mian, Atif; Straub, Ludwig; Sufi, Amir - 2020

across states shows that the rise in top income shares can explain almost all of the accumulation of household debt held as a … financial asset by the household sector. Since the Great Recession, the saving glut of the rich has been financing government …

Persistent link: https://www.econbiz.de/10012197559

MPC heterogeneity and household balance sheets

Fagereng, Andreas; Holm, Martin Blomhoff; Natvik, Gisle … - 2018

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

Persistent link: https://www.econbiz.de/10011872933

Consumption patterns of indebted households : unravelling the relevance of fiscal policy

Afonso, António; Rodrigues, Eduardo de Sá Fortes Leitão - 2023

We have investigated the influence of fiscal instruments, notably taxes on income and government spending, on household … consumption in two different samples and two measures of household debt to provide a comprehensive analysis of the topic. We used … government spending or reduced taxes, in the presence of high indebtedness, actually discourage household consumption compared to …

Persistent link: https://www.econbiz.de/10014314290

The UK's great demand and supply recession

Jacob, Nick; Mion, Giordano - 2020

We revisit UK's poor productivity performance since the Great Recession by means of both a suitable theoretical framework and firm-level prices and quantities data for detailed products allowing us to both measure demand, and its changes over time, and distinguish between quantity total factor...

Persistent link: https://www.econbiz.de/10012387534

Real wages and hours in the great recession : evidence from firms and their entry-level jobs

Schaefer, Daniel; Singleton, Carl - 2017

Using employer-employee panel data, we provide novel facts on how real wages and working hours within jobs responded to the UK's Great Recession. In contrast to previous studies, our data enables us to address the cyclical composition of jobs. We show that firms were able to respond to the Great...

Persistent link: https://www.econbiz.de/10011761531

Time savings when working from home

Aksoy, Cevat Giray; Barrero, Jose Maria; Bloom, Nicholas; … - 2023

We quantify the commute time savings associated with work from home, drawing on data for 27 countries. The average daily time savings when working from home is 72 minutes in our sample. We estimate that work from home saved about two hours per week per worker in 2021 and 2022, and that it will...

Persistent link: https://www.econbiz.de/10013502723

Rescue policies for small businesses in the Covid-19 recession

Di Nola, Alessandro; Kaas, Leo; Wang, Haomin - 2022

While the COVID-19 pandemic had a large and asymmetric impact on firms, many countries quickly enacted massive business rescue programs which are specifically targeted to smaller firms. Little is known about the effects of such policies on business entry and exit, factor reallocation, and...

Persistent link: https://www.econbiz.de/10013166369

Coherence of output gaps in the euro area : the impact of the Covid-19 shock

Haan, Jakob de; Jacobs, Jan; Zijm, Renske - 2022

Using the measures proposed by Mink et al. (2012), we reexamine the coherence of business cycles in the euro area using a long sample period. We also analyze the impact of the COVID-19 pandemic on business cycle coherence and examine whether our measures for business cycle coherence indicate a...

Persistent link: https://www.econbiz.de/10013168003

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