This paper puts forward a Bayesian version of the global vector autoregressive model (B-GVAR) that accommodates international linkages across countries in a system of vec-tor autoregressions. We compare the predictive performance of B-GVAR models for the one- and four-quarter ahead forecast...

The purpose of the paper is to identify areas in South Africa where social-economic disparity exists using 2011 census data. Different indices are used to measure spatial disparity with the aim of finding the most appropriate approach for measuring disparities under different circumstances. The...

Using representative survey data collected in 2018, I study how laypersons in Germany perceive the effects of quantitative easing (QE) on their personal financial situation and on national economic inequality. Almost 40% think that their economic situation is unaffected by QE, whereas 20% and 6%...

At the end of 2006, the ECB Governing Council set up the Household Finance and Consumption Network (HFCN). The network is composed of researchers, statisticians and survey specialists from the ECB, European national central banks (NCBs), some national statistical institutes (NSIs), and a number...

The inheritance tax is often seen as an effective tool to reduce wealth inequality, to raise public budgets if needed, and to increase incentives to work by lowering the tax burden on labour, which is especially high in Germany according to the OECD. The purpose of this paper is therefore to...

I study tax avoidance along the income distribution based on micro data from the Income and Consumption Survey (EVS) for the year 2013. The richness of the survey concerning income, taxes and expenditures is exploited by modelling the German tax code in terms of the items available in the EVS....

Previous literature on the distributional impact of the minimum wage in Germany has either focused on earnings and hourly wages (Caliendo et al., 2017), or is based on exante simulations (Müller and Steiner, 2013). This paper provides systematic descriptive ex-post evidence on the...

The Expert Group on Linking Macro and Micro Data for the household sector (EG-LMM) was established in December 2015 within the European System of Central Banks (ESCB) with the aim of comparing and bridging macro data (i.e. National Accounts/Financial Accounts) and micro data (i.e. the Household...

This report summarises the methodologies used in the fourth wave of the Eurosystem Household Finance and Consumption Survey, which provides household-level data collected in a harmonised way in all 19 euro area countries, as well as in the Czech Republic, Croatia and Hungary. The total sample...