To analyze the effectiveness of stabilization policies which includes effects on households future income it is central … households when the effect on household income is partly in the future. …

focused on unemployment stabilization helps "Main Street" by providing consumption insurance. It hurts "Wall Street" by … of monetary policy to consumption, but hardly to GDP. Central to this result is allowing for self-insurance and aggregate …

focused on unemployment stabilization helps "Main Street" by providing consumption insurance. It hurts "Wall Street" by … of monetary policy to consumption, but hardly to GDP. Central to this result is allowing for self-insurance and aggregate …

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 …

The intergenerational income elasticity is a crucial measure of income mobility. In this paper we develop a structural … model to examine the channels through which this elasticity operates. Using data from the Panel Study of Income Dynamics, we … human capital, independent of financial investments while the financial component examines the impact of income that is …

distribution with the monetary shock affecting the median household relative to the 20th percentile by a larger amount than the … right tail. Our results suggest that the shock is transmitted through changes in net property and financial wealth that …

, strengthening the drag on aggregate demand. Households' heterogeneous exposure to the shock induces an endogenous trade-off for …, and prevent workers from becoming more exposed to the shock through unemployment …

behavior and the income sensitivity of consumption. Analyzing Danish data, we find that elevated credit spreads reduce …