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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
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
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Despite crises, the stability of the euro is rooted in the middle class
Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J. - In: DIW weekly report : economy, politics, science : a … 13 (2023) 29/31, pp. 217-222
In the 24 years since its introduction, the euro has experienced a financial crisis, a government debt crisis, a global pandemic, and an energy crisis-and survived. Using a model focusing on households, this Weekly Report shows that the monetary union’s stability is rooted in the fact that the...
Persistent link: https://www.econbiz.de/10014362756
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Monetary policy and the redistribution channel in the euro area
Pekanov, Atanas - 2024
obtain a representative euro area dataset with detailed information on household balance sheets and consumption. I use a … revised from the standard model - the redistribution channel with household heterogeneity makes up 14 percent of the total …
Persistent link: https://www.econbiz.de/10014545241
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The interest rate exposure of euro area households
Tzamourani, Panagiota - 2019
document substantial heterogeneity across these dimensions. The median household in the euro area has a positive interest rate …
Persistent link: https://www.econbiz.de/10011963126
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Distributional consequences of asset price inflation in the euro area
Adam, Klaus; Tzamourani, Panagiota - 2015
households using data from the Household Finance and Consumption Survey (HFCS). The capital gains from bond price and equity … price increases turn out to be concentrated among relatively few households, while the median household strongly benefits … from housing price increases. The capital gains from bond price increases (relative to household net wealth) do not …
Persistent link: https://www.econbiz.de/10011316626
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How Does Monetary Policy Affect Income and Wealth Inequality? Evidence from Quantitative Easing in the Euro Area
Lenza, Michele; Slacalek, Jiri - 2021
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/10013315393
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Announcements of ECB unconventional programs : implications for the sovereign risk of Italy
Falagiarda, Matteo; Reitz, Stefan - 2013
sovereign risk of Italy over the last five years. More than fifty events concerning non-standard operations are identified and … of Italy. …
Persistent link: https://www.econbiz.de/10009783711
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And Indeed It Was a (Failed) Nullification Crisis : The OMT Judgment of the German Federal Constitutional Court and the Winners and Losers of the Final Showdown in the OMT Case
Pace, Lorenzo Federico - 2016
The aim of the present article is twofold. Firstly, to put the German Federal Constitutional Court (i.e., the BverfG) judgment into the context of a drawn-out conflict between the German Republic and the European Union regarding the setting up of a crisis management tool in the area of monetary...
Persistent link: https://www.econbiz.de/10012984451
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The Impact of Unconventional Monetary Policy on the Italian Economy During the Sovereign Debt Crisis
Casiraghi, Marco - 2014
, government bond yields and credit availability and then map them onto macroeconomic implications using the Bank of Italy …
Persistent link: https://www.econbiz.de/10013057597
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Inflation Persistence and Optimal Monetary Policy in the Euro Area
Benigno, Pierpaolo; Lopez-Salido, David - 2021
In this paper we present supporting evidence of the existence of heterogeneity in inflation dynamics across euro area countries. Based on the estimation of New Phillips Curves for five major countries of the euro area, we find that there is significant inertial (backward looking) behavior in...
Persistent link: https://www.econbiz.de/10013320202