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Elasticity of intertemporal substitution in the euro area
Marenčák, Michal; Giang Hong Nghiem - 2024
This paper estimates the elasticity of intertemporal substitution for the euro area. It leverages the unique design of the Consumer Expectations Survey in Europe to directly infer it from the Euler equation. Our final estimates range between 0.7 and 0.8 for the euro area as a whole, which are...
Persistent link: https://www.econbiz.de/10015152737
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Households' response to the wealth effects of inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2024
We study households' response to the redistributive effects of inflation combining bank data with an information … experiment during historic inflation. Households are generally well-informed about inflation and concerned about its wealth … impact; yet, while knowledge about inflation eroding nominal assets is widespread, most households are unaware of nominal …
Persistent link: https://www.econbiz.de/10015175417
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Households' response to the wealth effects of inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2024
We study the redistributive effects of surprise inflation combining administrative bank data with an information … provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing … inflation and are concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal …
Persistent link: https://www.econbiz.de/10014490357
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Monetary Policy Transmission to Consumer Financial Stress and Durable Consumption
Georgarakos, Dimitris - 2019
We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...
Persistent link: https://www.econbiz.de/10012866373
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Monetary Policy Transmission to Consumer Financial Stress and Durable Consumption
Georgarakos, Dimitris - 2019
We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...
Persistent link: https://www.econbiz.de/10012868821
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Monetary Policy Transmission to Consumer Financial Stress and Durable Consumption
Georgarakos, Dimitris - 2019
We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...
Persistent link: https://www.econbiz.de/10012870799
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Monetary policy transmission to consumer financial stress and durable consumption
Georgarakos, Dimitris; Tatsiramos, Konstantinos - 2019
We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...
Persistent link: https://www.econbiz.de/10012019231
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Monetary policy transmission to consumer financial stress and durable consumption
Georgarakos, Dimitris; Tatsiramos, Konstantinos - 2019
We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...
Persistent link: https://www.econbiz.de/10012024596
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MPC heterogeneity and the dynamic response of consumption to monetary policy
Ampudia, Miguel; Cooper, Russell W.; Le Blanc, Julia; … - 2023
Persistent link: https://www.econbiz.de/10014284882
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The intertemporal marginal propensity to consume out of future persistent cash-flows : evidence from transaction data
Druedahl, Jeppe; Jensen, Emil Bjerre; Leth-Petersen, Søren - 2022
To analyze the effectiveness of stabilization policies which includes effects on households future income it is central to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet data from a major Danish bank. We examine the behavior...
Persistent link: https://www.econbiz.de/10013361501