Using firm-level data from a large-scale European survey among 20 countries, we analyse the determinants of firms using short-time work (STW). We show that firms are more likely to use STW in case of negative demand shocks. We show that STW schemes are more likely to be used by firms with high...

Using around 1 million repeat sales, we show idiosyncratic risk in real house price appreciation is time-varying, depends negatively on the initial house price, varies across locations, and decreases with the holding period. These systematic movements in idiosyncratic risk can be explained by...

Exploiting a representative sample of the French population by age, wealth, and asset classes, we document novel facts about their expectations and perceptions of stock market returns. Both expectations and perceptions of returns are very dispersed, significantly lower than their data...