Ampudia, Miguel; Pavlickova, Akmaral; Slacalek, Jiri; … - European Central Bank - 2014
-simulations to investigate heterogeneity in the euro area. We quantify shocks to wealth, income and financial pressure faced by … affected the income-poor, while the declining wealth the income-rich. Although borrowers benefited from the substantial … consumption growth driven by both rich and poor households: while the former were hit by large shocks to wealth, the latter also …