In macroeconomic models featuring borrowing-constrained agents, the effects of monetary policy depend on the fiscal reaction to interest rate changes. This paper presents new evidence on the dynamic causal effects of U.S. monetary policy shocks on fiscal instruments and estimates a Heterogeneous Agent New Keynesian model with fiscal feedback rules to match the empirical results. I find that U.S. fiscal ...
We examine the association between cohabitation and women’s and men’s wealth, closely considering the distinct regulatory and normative contexts in France and Eastern and Western Germany. Using longitudinal data from the German Socio- Economic Panel Study (2002–2017) and the French wealth survey Histoire de Vie et Patrimoine (2014/15-2020/21), we apply fixed-effects regression models to examine potential ...
