We study the role of household saving behaviour, of individual motives for saving and that of perceived liquidity constraints in 15 Euro Area countries. The empirical analysis is based on the Household Finance and Consumption Survey, a new harmonized data set collecting detailed information on...

Probabilistic job loss expectations elicited in the Consumer Expectations Survey have predictive power for future job loss. We find that an unexpected job loss leads to a negative consumption response, while this effect is muted for workers with ex-ante job loss expectations - consistent with...

Many macroeconomic models try to explain consumption and its relationship with income. The rational expectation-permanent income hypothesis of consumption suggests that consumption and disposable income are co-integrated. In this paper we use the Engle-Granger methodology to test for...

The Household Finance and Consumption Survey (HFCS) is a recent initiative from the Eurosystem to collect comparable micro-data on household wealth and indebtedness in the euro area countries. The Household Finance and Consumption Network (HFCN), which comprises the European Central Bank (ECB),...

In face-to-face surveys interviewers play a crucial role in making contact with and gaining cooperation from sample units. While some analyses investigate the influence of interviewers on nonresponse, they are typically restricted to single-country studies. However, interviewer training,...

This paper presents micro-level evidence on the role of the socio-demographic characteristics of the population and the characteristics of the data collection process as predictors of survey response. Our evidence is based on the public use files of the European Community Household Panel (ECHP),...

This study extends a thick modelling tool for aggregated euro area real private consumption of de Bondt et al. (2019) to the four largest euro area countries. The suite of error correction models performs well in and out of sample. The ranges and averages of estimated elasticities are, however,...