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This paper studies the effects of quantitative easing on income and wealth of individual euro area households. The aggregate effects of quantitative easing are estimated in a multi-country VAR model of the four largest euro area countries, in which key variables affecting household income and...
Persistent link: https://www.econbiz.de/10011921470
Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data - we employ data of 22 European countries to assess the role of heterogeneity of the marginal propensity to consume (MPC) for fiscal policy in the Euro area. We document an...
Persistent link: https://www.econbiz.de/10014486919
the implications of digitalisation for measurement, productivity, labour markets and inflation, as well as more recent …
Persistent link: https://www.econbiz.de/10012626753
patterns in economic activity and inflation following oil price shocks in the euro area. In the normal regime, oil price shocks … followed by sizeable and sustained macroeconomic fluctuations, with inflation and economic activity moving in the same … direction as the oil price. The responses of inflation expectations and wage growth point to second-round effects as a potential …
Persistent link: https://www.econbiz.de/10011771984
We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has … the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on … options on the euro area harmonized index of consumer prices provides us with the full distribution of inflation expectations …
Persistent link: https://www.econbiz.de/10010415789
prolonged period of low inflation in the euro area. This article offers a narrative of the monetary policy measures taken up to …
Persistent link: https://www.econbiz.de/10011649375
patterns in economic activity and inflation following oil price shocks in the euro area. In the 'normal regime', oil price … shocks are followed by sizeable and sustained macroeconomic fluctuations, with inflation and economic activity moving in the … same direction as the oil price. The responses of inflation expectations and wage growth point to second-round effects as a …
Persistent link: https://www.econbiz.de/10011709632
restriction measures and local unemployment rates on inflation expectations. We find that consumers who were locally more exposed … to COVID-19 cases report higher inflation expectations. ‘e relationship between the virus spread and inflation …
Persistent link: https://www.econbiz.de/10014227597
-crisis era. We provide a comprehensive account of the housing decisions of European households between 2010 and 2014, and …
Persistent link: https://www.econbiz.de/10011903208
We assess the effects of regulatory caps in the loan-to-value (LTV) ratio using agent-based models (ABMs). Our approach builds upon a straightforward ABM where we model the interactions of sellers, buyers and banks within a computational framework that enables the application of LTV caps. The...
Persistent link: https://www.econbiz.de/10012030228