We study the social and distributional implications of the euro area (EA) sovereign debt crisis in countries that received external financial assistance for macroeconomic adjustments. Combining granular data from about one million survey interviews with households across euro area states carried...

This study challenges the conventional assumption of uniform monetary policy transmission by examining interest rate pass-through across the conditional distribution using quantile cointegration. Using U.S. data from 1994–2024, we estimate long-run relationships between the federal funds rate...