We study the yield curve control in Eurozone. We apply Chen, Cúrdia and Ferrero (2012) model that uses a financial friction to break Wallace's neutrality. We calibrate a bond supply shock that corresponds to the observed change in the time premium in euro area when the APP program was...

This paper examines whether the determinants of household saving have changed over time and whether they are the same across countries. Using a cross-country data for 34 OECD countries for the 1970-2019, we find that traditional saving rate specifications still perform strik ingly well and can...

We study whether the level of household indebtedness is related to the interest rate elasticity of private consumption. Looking at Finnish aggregate data, we find no robust evidence of increased interest rate elasticity of private consumption even as the household sector's debt-to-income ratio...