Research
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Work in Progress
Housing Wealth Across Countries: The Role of Expectations, Institutions and Preferenceswith Julia Le Blanc and Matthew N. White
New — January 2025 online appendix
Link to VOX article summarizing this work
Monetary Policy and Household Inequality
with Miguel Ampudia, Dimitris Georgarakos, Oreste Tristani, Philip Vermeulen and Giovanni L. Violante
July 2018
Link to VOX article summarizing this work
Dissecting Saving Dynamics: Measuring Credit, Wealth and Precautionary Effects
with Christopher Carroll and Martin Sommer
Revised May 2019 replication programs
Link to the Economist article (Oct 7, 2010) citing this work
What Drives the Saving Rate? Examining the Role of Household Target Wealth
with Martin Sommer
Published and Forthcoming
Who Bears the Costs of Inflation? Euro Area Households and the 2021–2023 Shockwith Filippo Pallotti, Gonzalo Paz-Pardo, Oreste Tristani and Giovanni L. Violante
Journal of Monetary Economics, vol. 148, November 2024.
online appendix
Link to VOX article summarizing this work November 2023 version
How Does Monetary Policy Affect Income and Wealth Inequality? Evidence from the Euro Area
with Michele Lenza
Journal of Applied Econometrics, 39(5), 746–765, August 2024.
online appendix
May 2022 version May 2022 appendix
May 2021 version May 2021 appendix
March 2019 version March 2019 appendix
Immigration and the Distribution of Income, Consumption and Wealth in the Euro Area: Implications for Economic Policies
with Maarten Dossche, Aleksandra Kolndrekaj, Maximilian Propst, Javier Ramos Perez and Marton Vegh
Journal of Policy Modeling, 46(5), 867–886, September–October 2024.
Link to VOX article summarizing this work Appendix September 2022 version
Modeling the Consumption Response to the CARES Act
with Christopher Carroll, Edmund Crawley and Matthew N. White
International Journal of Central Banking, 17(1), 107–141, March 2021.
replication programs Jupyter dashboard CEPR Covid Econ version, April 2020
Link to VOX article summarizing this work
Household Balance Sheet Channels of Monetary Policy: A Back of the Envelope Calculation for the Euro Area
with Oreste Tristani and Giovanni L. Violante
Journal of Economic Dynamics and Control, 115, June 2020.
This has grown out of "Monetary Policy and Household Inequality"
Sticky Expectations and Consumption Dynamics
with Chris Carroll, Edmund Crawley, Kiichi Tokuoka and Matthew N. White
AEJ: Macroeconomics, 12(3), 40–76, July 2020.
Revised May 2019 online appendix replication programs
The Distribution of Wealth and the Marginal Propensity to Consume
with Christopher Carroll, Kiichi Tokuoka and Matthew N. White
Quantitative Economics, 8(3), 977–1020, November 2017.
Online Appendix replication programs
Eurosystem Household Finance and Consumption Survey — Main Results on Assets, Debt and Saving
with Olympia Bover, Martin Schuerz and Federica Teppa
International Journal of Central Banking, 12(2), 1–13, June 2016.
Household Heterogeneity in the Euro Area Since the Onset of the Great Recession
with Miguel Ampudia, Akmaral Pavlickova and Edgar Vogel
Journal of Policy Modeling, 38(1), 181–197, January–February 2016.
August 2014 replication programs
Buffer Stock Saving in a Krusell–Smith World
with Christopher Carroll and Kiichi Tokuoka
Economics Letters, 132, 97–100, April 2015.
Longer, working-paper version
The Distribution of Wealth and the Marginal Propensity to Consume: Implications of New European Data
with Christopher Carroll and Kiichi Tokuoka
American Economic Review (Papers and Proceedings), 104(5), 107–111, May 2014.
replication programs
Disagreement among Forecasters in G7 Countries
with Jonas Dovern and Ulrich Fritsche
The Review of Economics and Statistics, 94(4), 1081–1096, November 2012.
replication programs Appendix with additional results
International Evidence on Sticky Consumption Growth
with Christopher Carroll and Martin Sommer
The Review of Economics and Statistics, 93(4), 1135–1145, November 2011.
replication programs
Labor Supply After Transition: Evidence from the Czech Republic
with Alena Bičáková and Michal Slavík
Finance a uver (Czech Journal of Economics and Finance) 61(4), August 2011.
replication programs
How Large Are Financial and Housing Wealth Effects? A New Approach
with Christopher Carroll and Misuzu Otsuka
Journal of Money, Credit, and Banking 43(1), 55–79, February 2011.
replication programs Link to the Economist article (Oct 13, 2006) citing this work
What Drives Personal Consumption? The Role of Housing and Financial Wealth
The B.E. Journal of Macroeconomics 9(1), Topics, October 2009.
replication programs Link to the Economist article (Oct 13, 2006) citing this work
Sticky Information Phillips Curves: European Evidence
with Jörg Döpke, Jonas Dovern and Ulrich Fritsche
Journal of Money, Credit, and Banking 40(7), 1513–1521, Oct 2008.
The Dynamics of European Inflation Expectations
with Jörg Döpke, Jonas Dovern and Ulrich Fritsche
B.E. Journal of Macroeconomics 8(1), March 2008.
replication programs Previous, more detailed Bundesbank Working Paper version
Older / Dormant Projects
The American Consumer: Reforming, or just Resting?with Christopher Carroll
June 2009 replication programs
Fiscal Implications of Personal Tax Adjustments in the Czech Republic
with Alena Bičáková and Michal Slavík
November 2006 replication programs
Productivity and the Natural Rate of Unemployment
November 2004 replication programs
International Evidence on Cointegration Between Consumption, Income and Wealth
November 2004 replication programs
Forecasting Consumption
November 2004 replication programs
Bode Museum, Berlin
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