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Consumption Inequality and Family Labor Supply

Blundell, Richard W. - 2014

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that incorporates household consumption and family labor supply decisions. We derive analytical expressions based on approximations for the dynamics of consumption, hours, and earnings...

Persistent link: https://www.econbiz.de/10013057673

The Asymmetric Effects of Weather Shocks on Euro Area Inflation

Ciccarelli, Matteo; Kuik, Friderike; Martínez … - 2023

This paper assesses the impact of weather shocks on inflation components in the four largest euro area economies. We … combine high-frequency weather data with monthly data on inflation and output growth within a set of Bayesian Vector Autore …-gressions which explicitly considers the seasonal dependence of the shock. Results suggest the presence of significant country …

Persistent link: https://www.econbiz.de/10014355983

Consumption inequality and family labor supply

Blundell, Richard; Pistaferri, Luigi; Saporta-Eksten, Itay - 2014

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that incorporates household consumption and family labour supply decisions. We derive analytical expressions based on approximations for the dynamics of consumption, hours, and earnings...

Persistent link: https://www.econbiz.de/10011605701

Wealth Shocks, Credit-Supply Shocks, and Asset Allocation : Evidence from Household and Firm Portfolios

Kick, Thomas K. - 2014

We use a unique dataset with bank clients' security holdings for all German banks to examine how macroeconomic shocks affect asset allocation preferences of households and non-financial firms. Our analysis focuses on two alternative mechanisms which can influence portfolio choice: wealth shocks,...

Persistent link: https://www.econbiz.de/10013057161

The Distribution of Wealth and the MPC : Implications of New European Data

Carroll, Christopher D. - 2014

Using new micro data on household wealth from fifteen European countries, the Household Finance and Consumption Survey, we first document the substantial cross-country variation in how various measures of wealth are distributed across individual households. Through the lens of a standard,...

Persistent link: https://www.econbiz.de/10013058553

Wealth Shocks, Unemployment Shocks and Consumption in the Wake of the Great Recession

Christelis, Dimitris - 2015

Data from the 2009 Internet Survey of the Health and Retirement Study show that many U.S. households experienced large capital losses in housing and financial wealth, and that 5% of respondents lost their job during the Great Recession. As a consequence of these shocks, many households reduced...

Persistent link: https://www.econbiz.de/10013026622

Unemployment risk and over-indebtedness

Du Caju, Philip; Rycx, François; Tojerow, Ilan - 2016

households plagued by over-indebtedness increased by more than 10%, suggesting that another unemployment shock could have a major … impact on the financial solvency of Euro area households. Finally, the impact of this shock on single-headed households is …

Persistent link: https://www.econbiz.de/10011605953

Unemployment Risk and Over-Indebtedness

Du Caju, Philip - 2016

Persistent link: https://www.econbiz.de/10012988621

Feeling the Heat : Extreme Temperatures and Price Stability

Faccia, Donata; Parker, Miles; Stracca, Livio - 2022

We contribute to the debate surrounding central banks and climate change by investigating how extreme temperatures aﬀect medium-term inﬂation, the primary objective of monetary policy. Using panel local projections for 48 advanced and emerging market economies (EMEs), we study the impact of...

Persistent link: https://www.econbiz.de/10013311775

Optimal Monetary Policy and the Transmission of Oil-Supply Shocks to the Euro Area under Rational Expectations

Adjemian, Stephane; Darracq Pariès, Matthieu - 2009

This paper presents first the estimation of a two-country DSGE model for the euro area and the rest-of-the-world including relevant oil-price channels. We then investigate the optimal resolution of the policy tradeoffs emanating from oil-price disturbances. Our simulations show that the...

Persistent link: https://www.econbiz.de/10014213432