In the absence of a wealth register, Belgian wealth inequality needs to be estimated. Here I apply the mortality multiplier approach to Belgian inheritance tax tabulations and administrative microdata, collectively covering 1935 to 2022. Belgian wealth inequality has strongly declined during the...

In the absence of a wealth register, Belgian wealth inequality needs to be estimated. Here I apply the mortality multiplier approach to Belgian inheritance tax tabulations and administrative microdata, collectively covering 1935 to 2022. Belgian wealth inequality has strongly declined during the...

The economy has been resilient to a series of shocks, but growth is slowing, and disinflation is facing headwinds. The labor market has been strong but shows early signs of cooling. Labor-cost competitiveness has declined with wage growth outpacing sluggish productivity. Successive shocks have...

This paper studies the macroeconomic effects of a belief distortion shock—defined as the unexpected component of household inflation expectations after accounting for professional forecasts and observable fundamentals. Using survey data, U.S. macroeconomic variables, and machine-learning...

This paper studies the macroeconomic effects of a belief distortion shock—defined as the unexpected component of household inflation expectations after accounting for professional forecasts and observable fundamentals. Using survey data, U.S. macroeconomic variables, and machine-learning...