Household balance sheet channels of monetary policy: a back of the envelope calculation for the euro area

DOI10.1016/J.JEDC.2020.103879OpenAlexW2998737651MaRDI QIDQ2191486

Oreste Tristani, Jiri Slacalek, Giovanni L. Violante

Publication date: 25 June 2020

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2020.103879

zbMATH Keywords

inflationwealth distributionmonetary policyconsumptionhousinglabor incomehousehold heterogeneityeuro areamarginal propensity to consumehand-to-mouthhousehold balance sheets

Mathematics Subject Classification ID

Game theory, economics, finance, and other social and behavioral sciences (91-XX)

Related Items (3)

House prices, the distribution of household debt and the refinancing channel of monetary policy ⋮ Asset purchases, limited asset markets participation and inequality ⋮ MoNK: mortgages in a New-Keynesian model

Cites Work

• Limited asset markets participation, monetary policy and (inverted) aggregate demand logic
• The distribution of wealth and the marginal propensity to consume
• House Prices and Consumer Spending
• The Role of Automatic Stabilizers in the U.S. Business Cycle
• A Model of the Consumption Response to Fiscal Stimulus Payments
• Household debt and crises of confidence
• Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism
• Precautionary Savings, Illiquid Assets, and the Aggregate Consequences of Shocks to Household Income Risk

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