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We use a unique design feature of a survey of Italian firms to study the causal effect of inflation expectations on firms' economic decisions. In the survey, a randomly chosen subset of firms is repeatedly treated with information about recent inflation whereas other firms are not. This...
Persistent link: https://www.econbiz.de/10012481059
implement a case-study on the response of banks in France, Germany, Italy and Spain to a monetary tightening. The episode we …
Persistent link: https://www.econbiz.de/10012471558
France, Italy and Germany corroborates this finding, and we estimate cumulative gains of up to 5 percentage points in … (around 6 mln) and Germany (around 3.5 mln) 11 to 16 weeks after the proof of vaccination mandate announcements …
Persistent link: https://www.econbiz.de/10012794591
Many households hold little wealth, especially liquid wealth. In precautionary savings models, absent preference heterogeneity, these households should display not only higher marginal propensities to consume (MPCs), but also lower average propensities to consume (APCs) and higher future...
Persistent link: https://www.econbiz.de/10012479167
Italy and Germany have similar geographical differences in productivity - North more productive than South in Italy …; West more productive than East in Germany - but have adopted different models of wage bargaining. Italy sets wages based on … nationwide contracts that allow for limited local wage adjustments, while Germany has moved toward a more flexible system that …
Persistent link: https://www.econbiz.de/10012479565
Using original data from two waves of a survey conducted in March and April 2020 in eight OECD countries (N = 21,649), we show that women are more likely to see COVID-19 as a very serious health problem, to agree with restraining public policy measures adopted in response to it, and to comply...
Persistent link: https://www.econbiz.de/10012481554
This note lays out the basic Susceptible-Infected-Recovered (SIR) epidemiological model of contagion, with a target audience of economists who want a framework for understanding the effects of social distancing and containment policies on the evolution of contagion and interactions with the...
Persistent link: https://www.econbiz.de/10012482082
Financial crises cause economic, social and political havoc. Macroprudential policies are gaining traction but are still severely under-researched compared to monetary policy and fiscal policy. We use the general framework of sequential predictions also called online machine learning to forecast...
Persistent link: https://www.econbiz.de/10012482520
This paper focuses on three large Continental European countries: France, Germany, and Italy. These countries have …
Persistent link: https://www.econbiz.de/10012462881
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10012464771