Sixth Conference on Household Finance and Consumption

Registration and coffee

Welcome

Sharon Donnery, Deputy Governor, Central Bank of Ireland

Session I

Chair: Tara McIndoe Calder, Central Bank of Ireland

Exposure to daily price changes and inflation expectations

Michael Weber, Chicago Booth,
with Francesco D’Acunto, Ulrike Malmendier and Juan Ospina

Learning about housing costs: Survey evidence from the German house price boom

Fabian Kindermann, University of Regensburg,
with Julia Le Blanc, Monika Piazzesi and Martin Schneider

Session II

Chair: Michael Haliassos, Goethe University Frankfurt

Invited speaker Consumer regulation as whack-a-mole: Evidence from credit card markets

Antoinette Schoar, MIT Sloan

Real effects of relaxing financial constraints on homeowners: Evidence from Danish firms

Alessia De Stefani, Danmarks Nationalbank,
with Julia Moertel

Borrowing constraints, own labour and homeownership

Giuseppe Pulina and Michael Ziegelmeyer, Banque centrale du Luxembourg,
with Peter Lindner and Thomas Mathä

Lunchtime talk

Philip R. Lane, Executive Board member, ECB

Session III

Chair: Yvonne McCarthy, Central Bank of Ireland

Consumption quality: A new perspective on the welfare implications of business cycle fluctuations

Leslie Sheng Shen, Federal Reserve Board,
with Casper Nordal Jørgensen

Taxation of durables, non-durables and earnings with heterogeneous preferences

Francesca Parodi, Collegio Carlo Alberto

Session IV

Chair: Maria Woods, Central Bank of Ireland

MPC heterogeneity in Europe: Sources and policy implications

Miguel Ampudia, ECB,
with Russell Cooper, Julia Le Blanc and Guozhong Zhu

Wealth effects on consumption during the sovereign debt crisis: Households’ heterogeneity in the euro area

Frédérique Savignac, Banque de France,
with Bertrand Garbinti, Pierre Lamarche and Charlélie Lecanu

Income risk asymmetries, consumption and wealth: The dynamics of inequality in the Spanish Survey of Household Finances

Laura Hospido, Banco de España,
with Henrique S. Basso, Olympia Bover and José María Casado

Invited speaker The long shadows of the Great Inflation: Evidence from residential mortgages

Ulrike Malmendier, University of California, Berkeley,
with Matthew J. Botsch

Session V

Chair: Jiri Slacalek, ECB

MoNK: Mortgages in a New Keynesian model

Roman Šustek, Queen Mary University,
with Carlos Garriga and Finn E. Kydland

Owning up: Closely held firms and wealth inequality

Alessandra Peter, Princeton University

Session VI

Chair: Sarah Holton, Central Bank of Ireland

Household balance sheet channels of monetary policy: A “back of an envelope” calculation for the euro area

Jiri Slacalek, ECB,
with Oreste Tristani and Gianluca Violante

Real interest rates and the redistribution of nominal wealth in the euro area

Moritz A. Roth, Banco de España,
with Maarten Dossche, Jacob Hartwig, Antonio Matas Mir and Panagiota Tzamourani

Aging, wealth distribution and monetary policy

Ludmila Fadejeva, Latvijas Banka,
with Zeynep Kantur

Session VII

Chair: Matija Lozej, Central Bank of Ireland

Invited speaker HFCS: Future of macroeconomics! (If ...)

Christopher D. Carroll, Johns Hopkins University

Mortgage debt, consumption and illiquid housing markets in the Great Recession

Aaron Hedlund, University of Missouri,
with Carlos Garriga

Consumption heterogeneity: Micro drivers and macro implications

Edmund S. Crawley, Federal Reserve Board,
with Andreas Kuchler