Long-term fixed-rate mortgage contracts protect households against interest rate risk, yet most countries have relatively short interest rate fixation lengths. Using administrative data from the UK, the paper finds that the choice of fixation length tracks the life-cycle decline of credit risk...

Analyses of zombie firms have emphasised the role of bank financing as the reason for zombie survival. This conclusion was made despite no comparative analysis of the sources of external finance for zombie firms. This paper provides the first analysis of that sort using Finnish data....

The Barcelona targets on childcare help increase women's labour-market participation and close the gender employment gap by enhancing the provision of early childhood education and care. To contribute to the debate on the revision of the targets, this paper estimates the impact on labour par-...

In recent years, crowdworking has emerged as a small but rapidly growing source of employment and income principally for young(er) people. Here, we build on previous work in identifying the determinants of crowdworkers' earnings. We focus on the reasons why young crowdworkers earn significantly...

This paper evaluates two hypothetical budget-neutral reforms that shift resources from family tax expenditures to family cash transfers. We evaluate these reforms using a structural labor supply model based on the microsimulation EUROMOD model and EU-SILC data. We find that both reforms have an...

We examine a propagation mechanism that arises from households' long-term borrowing and show empirically that it has sizable real effects. The mechanism recognises that when there is long-term debt, an impulse to new borrowing generates a predictable hump-shaped path of future debt service. We...

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...

This report summarises the stylized facts from 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 for a sample of more...

The bulk of cash is held for store of value purposes, with such holdings sharply increasing in times of high economic uncertainty and only a fraction of the population choosing to hoard cash. We develop a Diamond and Dybvig model with public money as a store of value and heterogeneous beliefs...

The credit gap in this study is given by the financing needs of firms that are bankable but discouraged from applying for a loan. To quantify the credit gap, we combine a scoring model that assesses the creditworthiness of discouraged firms with a credit allocation rule. Our study covers 35...