This paper studies the effects of quantitative easing on income and wealth of individual euro area households. The … which key variables affecting household income and wealth are included, such as the unemployment rate, wages, interest rates …-form simulation on micro data from the Household Finance and Consumption Survey, capturing the income composition, the portfolio …

composition of their income and on the components of their wealth. We first review the existing evidence on how monetary policy … affects income and wealth inequality. We then illustrate quantitatively how various channels of transmission - net interest … rate exposure, intertemporal substitution and indirect income channels - affect individual euro area households. We find …

We use household surveys to describe differences in wages, income, wealth and liquid assets of households born in their … "hand-to-mouth" (holding liquid assets worth less than two weeks of income), the corresponding share is 20% for households …

aggregate but changes their content; ii) tends to raise income and wealth inequality; iii) has ambiguous effects on competition …

-expressed as a share of 2021-22 income- were larger than a typical recession, and heterogeneous, e.g., 3% in France and 8% in Italy …