reduction in homeownership across generations. Lower-income households find it harder to buy housing, and as a result accumulate …

- relative to older borrowers has played a major role in easing the debt repayment burden in the presence of large income shocks …. Notwithstanding historically low interest rates, we show that income shocks are the main factor contributing to mortgage repayment …

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 …

, income and consumption. We use panel regressions and an instrumental variable approach. First, our panel-based MPC estimates …

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 …