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We use household surveys to describe differences in wages, income, wealth and liquid assets of households born in their country of residence ("natives") vs. those born in other EU and non- EU countries ("immigrants"). The differences in wealth are more substantial than the differences in wages...
Persistent link: https://www.econbiz.de/10013367109
We use household surveys to describe differences in wages, income, wealth and liquid assets of households born in their country of residence (“natives”) vs. those born in other EU and non-EU countries (“immigrants”). The differences in wealth are more substantial than the differences in...
Persistent link: https://www.econbiz.de/10013491571
Digitalisation has fundamentally changed the global economy and will continue to do so. This paper draws on economic research to identify some of its key implications for labour markets, inequality, e-commerce and the financial system. Beyond its potential to boost productivity and living...
Persistent link: https://www.econbiz.de/10015322469
We extend household-level data from the Household Finance and Consumption Survey using aggregate series and micro-simulations to investigate heterogeneity in the euro area. We quantify shocks to wealth, income and financial pressure faced by various categories of households since the onset of...
Persistent link: https://www.econbiz.de/10015301803
Persistent link: https://www.econbiz.de/10009668430
This report discusses the role of the European Union’s full employment objective in the conduct of the ECB’s monetary policy. It first reviews a range of indicators of full employment, highlights the heterogeneity of labour market outcomes within different groups in the population and across...
Persistent link: https://www.econbiz.de/10013210706
I construct a new dataset with financial and housing wealth in 16 countries and investigate the effect of wealth on consumption. The baseline estimation method based on the sluggishness of consumption growth implies that the long-run marginal propensity to consume out of total wealth averaged...
Persistent link: https://www.econbiz.de/10003394904
I propose an econometric model that improves upon existing methods of estimating the natural rate of unemployment (NAIRU) by using information contained in the trend of productivity growth. My approach enhances the recently proposed model of Staiger, Stock and Watson (1997) in several respects....
Persistent link: https://www.econbiz.de/10002485542
Persistent link: https://www.econbiz.de/10009577417
This paper considers how monetary policy produces heterogeneous effects on euro area households, depending on the composition of their income and on the components of their wealth. We first review the existing evidence on how monetary policy affects income and wealth inequality. We then...
Persistent link: https://www.econbiz.de/10012913667