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How does monetary policy affect income and wealth inequality? : evidence from quantitative easing in the euro area

Lenza, Michele; Slacalek, Jirka - 2018

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 …

Persistent link: https://www.econbiz.de/10011921470

Does the euro make a difference? : spatio-temporal transmission of global shocks to real effective exchange rates in an infinite VAR

Bussière, Matthieu; Chudik, Alexander; Mehl, Arnaud - 2011

This paper provides evidence on whether the creation of the euro has changed the way global turbulences affect euro area and other economies. Specifically, it considers the impact of global shocks on the competitiveness of individual euro area countries and assesses whether their responses to...

Persistent link: https://www.econbiz.de/10008901483

Wealth effect on consumption during the sovereign debt crisis : households heterogeneity in the euro area

Garbinti, Bertrand; Lamarche, Pierre; Lecanu, Charlélie; … - 2020

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

Persistent link: https://www.econbiz.de/10012139739

Financial frictions : micro vs macro volatility

Lee, Seungcheol; Luetticke, Ralph; Ravn, Morten O. - 2021

We introduce frictional ﬁnancial intermediation into a HANK model. Households are subject to idiosyncratic and aggregate risk and smooth consumption through savings and consumer loans intermediated by banks. The banking friction introduces an endogenous countercyclical spread between the...

Persistent link: https://www.econbiz.de/10012705511

Who bears the costs of inflation? : euro area households and the 2021-2022 shock

Pallotti, Filippo; Paz Pardo, Gonzalo; Slacalek, Jirka; … - 2023

-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 …

Persistent link: https://www.econbiz.de/10014483008

Price, wage and employment response to shocks : evidence from the WDN survey

Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010

This paper analyses information from survey data collected in the framework of the Eurosystem's Wage Dynamics Network (WDN) on patterns of firm-level adjustment to shocks. We document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in response...

Persistent link: https://www.econbiz.de/10003971260

How wages respond to shocks: asymmetry in the speed of adjustment

Rõõm, Tairi; Dabusinskas, Aurelijus - 2011

The time series of various economic variables often exhibit asymmetry: decreases in the values tend to be sharp and fast, whereas increases usually occur slowly and gradually. We detect signs of an analogous asymmetry in firms’ wage setting behaviour on the basis of managerial surveys, with...

Persistent link: https://www.econbiz.de/10009160036