House prices increased considerably in Denmark during the pandemic, while consumption remained moderate. This memo explores the nature of the muted consumption response based on a unique data set with estimates of the value of almost all single- and multi-family houses in Denmark obtained from a...

Education and wealth are positively correlated for individuals approaching retirement, but the direction of the causal relationship is ambiguous in theory and has not been identified in practice. We combine administrative data on individual total wealth with a reform expanding access to lower...