We estimate the "unhedged interest rate exposure" (URE) of euro area households. The URE is a welfare metric that captures the extent to which households are exposed to changes in real interest rates, and reflects the direct gains and losses in interest income flows incurred by households after...

We study the distributional consequences of housing price, bond price and equity price increases for Euro Area 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...

We estimate the "unhedged interest rate exposure" (URE) of euro area households. The URE is a welfare metric that captures the extent to which households are exposed to changes in real interest rates, and reflects the direct gains and losses in interest income flows incurred by households after...

We examine financial literacy in Germany and its relevance for financial well-being. Using data from the Panel on Household Finances collected in 2021, we show that about 62% of German households answer the Big Three financial literacy questions correctly. Those with lower education, who are out...

We examine financial literacy in Germany and its relevance for financial wellbeing. Using data from the Panel on Household Finances collected in 2021, we show that about 62% of German households answer the Big Three financial literacy questions correctly. Those with lower education, who are out...

We estimate the "Unhedged Interest Rate Exposure" (URE) of euro area households. URE is the difference between maturing assets and maturing liabilities at a point in time. It captures the extent to which households are exposed to changes in the interest rates and translates into the direct gains...

The paper presents the methodology and the main results of the Household Finance Survey 2009, which was conducted by the Bank of Greece as part of the first wave of the Eurosystem Household Finance and Consumption Survey (HFCS). According to the survey, the indicators of indebtedness of Greek...