We evaluate the impact of loan-to-value restrictions on household financial vulnerability. Using Norwegian tax data, we first document a beneficial leverage effect, in which households respond to the regulation by reducing house purchase probabilities, debt and interest expenses. Second, we...

This paper investigates how monetary expansion affects household consumption and savings through household debts. Using monetary policy cuts in China in the end of 2008 as an experiment, we find that the resulted increase in indebted households’ disposable income leads to increasing...

This paper develops a new class of poverty and inequality measures we call common prosperity. This measure complements existing classes of measures and allows decomposition across income sources or components of consumption expenditure. This framework enables us to study the trade-off between...

Using OeNB Euro Survey data from fall 2020, we will briefly address the questions: Who has been affected by the covid-19 pandemic and how severely? We will look at the results along three dimensions: (1) across main socio-economic characteristics, (2) across regions and countries, (3) across...

In most OECD countries the era of long-term care (LTC) has arrived. More than two out of five people aged 65 or older report having some type of functional limitation (sensory, physical, mental, self-care disability, or difficulty leaving home). A few years from now, the ageing trend will...

All CESifo Research Network members are invited to submit their papers, which may deal with any topic within the domains of employment and social protection. Both domains are to be broadly defined, the former including, in particular, issues of the organisation of labour. The latter domain, in...