Die krisenhaften Entwicklungen seit dem Jahr 2008 haben es für die großen Zentralbanken notwendig gemacht, ihre Leitzinsen auf nahezu Null zu senken. Gleichzeitig bekunden die Zentralbanken, dass sie die Zinsen noch für eine ausgedehnte Zeit niedrig halten werden. In einem solchen Umfeld von...

Die krisenhaften Entwicklungen seit dem Jahr 2008 haben es für die großen Zentralbanken notwendig gemacht, ihre Leitzinsen auf nahezu Null zu senken. Gleichzeitig bekunden die Zentralbanken, dass sie die Zinsen noch für eine ausgedehnte Zeit niedrig halten werden. In einem solchen Umfeld von...

The first part of this paper provides a brief survey of the recent literature that employs survey data on household finance and consumption. Given the breadth of the topic, it focuses on issues that are particularly relevant for policy, namely: i) wealth effects on consumption, ii) housing...

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...

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...

This paper compares the main findings from the third wave of the Household Finance and Consumption Survey (HFCS) for Malta with those for the euro area. This comparative report finds that in 2016 the median Maltese household held more real and financial assets than households in the euro area....

This paper compares the main findings from the fourth wave of the Household Finance and Consumption Survey (HFCS) for Malta with those for the euro area. This comparative report finds that in 2020 the median Maltese household held more real and financial assets than households in the euro area....