The paper provides measures of inequality in individual well-being by using a normative multidimensional approach. A distinctive contribution of the study is to consider heterogeneous inequality aversion parameters, estimated on the basis of country-specific tax structures. The empirical...

In this paper we use a Markov-switching vector autoregressive model to analyse the interest rate pass-through between interbank and retail bank rates in the Euro area. Empirical results, based on monthly data for the period 2003–2011, show that during periods of financial distress bank lending...