-through rates for low-income households are 58%, significantly larger than those for high-income households. We then present one …

We survey samples of German firms and households to document novel stylized facts about the extent of information … dispersed than households', consistent with higher information frictions among households. Second, the degree of dispersion and … the distance from expert forecasts varies more across groups of households than across groups of firms. Third, firms …

This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … previous studies, we find a negative effect of households' indebtedness on their consumption, even in the absence of negative …, rather than its overall sustainability, that leads households to reduce their consumption. We perform as well a threshold …