We show that the size of collateralized household debt determines an economy's vulnerability to crises of confidence …

This paper studies the direct impact of households' debt on consumption over the business cycle. We use household …

between 2010 and 2014 in Belgium, using panel data from the two waves of the Household Finance and Consumption Survey. Unlike …

for consumption of the individual worker. However, most household panel surveys contain consumption information only at … the household level. We show that proxying individual consumption by household consumption biases estimated Frisch … elasticities downward as limited commitment in the household induces individual consumption to behave differently from household …

prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life …, 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 …

While household well-being derives from long-term average rates of consumption, welfare comparisons typically rely on … questions. Identification stems from diary-recall differences in reports from the same household, does not require reports to be … new insights to interpret and reconcile diary-recall differences in household surveys. …

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

with respect to wealth holdings and financial decisions. Immigrant household heads hold less net wealth than native, but …