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

households using data from the Household Finance and Consumption Survey (HFCS). The capital gains from bond price and equity … price increases turn out to be concentrated among relatively few households, while the median household strongly benefits … from housing price increases. The capital gains from bond price increases (relative to household net wealth) do not …

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 …

, 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 differ … substantially across countries, and within countries by household characteristics such as age, housing tenure, and asset positions …

document substantial heterogeneity across these dimensions. The median household in the euro area has a positive interest rate …

pension wealth created by Poland's 1999 pension reform. Using the 1997–2003 Polish Household Budget Surveys, we begin by … estimating "difference-in-differences" regressions, where we compare household saving and expenditure across time and between … household saving. We also find heterogeneity in responses. For the middle-aged cohorts, we find a large public pension crowd …

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 …

luxury goods. Moreover, uncertainty reduces household propensity to invest in mutual funds. These results support the notion … that macroeconomic uncertainty can impact household decisions and have large negative effects on economic outcomes …