Research classified by Journal of Economic Literature (JEL) codes
Top JEL
/ E: Macroeconomics and Monetary Economics
/ / E2: Consumption, Saving, Production, Employment, and Investment
/ / / E21: Consumption; Saving; Wealth
2023
- Jürgen Antony & Torben Klarl, 2023, "Subsistence Consumption and Natural Resource Depletion: Can resource-rich low-income countries realize sustainable consumption paths?," Bremen Papers on Economics & Innovation, University of Bremen, Faculty of Business Studies and Economics, number 2302, Jul, DOI: https://doi.org/10.26092/elib/2362.
- Chetan Ghate & Pawan Gopalakrishnan & Anuradha Saha, 2023, "The Great Indian Savings Puzzle," IEG Working Papers, Institute of Economic Growth, number 459.
- Abrar Khan & Ayaz Khan & Ikram Ullah, 2023, "Exploring Macroeconomic Determinants of Inflation in Pakistan; Fresh Insights from Vector Autoregressive Analysis," Journal of Economic Sciences, Federal Urdu University Islamabad, Department of Economics, volume 2, issue 2, pages 127-138, December, DOI: 10.55603/jes.v2i2.a4.
- Maria Batool & Muhammad Ramzan Sheikh & Asad Abbas & Sana Ashraf, 2023, "Analyzing the Impact of Foreign Capital Inflows on Domestic Savings in Pakistan: A Comprehensive Time Series Investigation," Journal of Economic Sciences, Federal Urdu University Islamabad, Department of Economics, volume 2, issue 2, pages 93-112, December, DOI: 10.55603/jes.v2i2.a2.
- Andreas Fagereng & Magnus A. H. Gulbrandsen & Martin Holm & Gisle Natvik, 2023, "How Does Monetary Policy Affect Household Indebtedness?," Working Papers, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School, number 05/2023.
- Serdar Ozkan & Joachim Hubmer & Sergio Salgado & Elin Halvorsen, 2023, "Why Are the Wealthiest So Wealthy? A Longitudinal Empirical Investigation," Working Papers, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School, number 07/2023.
- Martin Kuncl & Dmitry Matveev, 2023, "The Canadian Neutral Rate of Interest through the Lens of an Overlapping-Generations Model," Discussion Papers, Bank of Canada, number 2023-5, Feb, DOI: 10.34989/sdp-2023-5.
- Lorenzo Pozzi & Barbara Sadaba, 2023, "Macroeconomic Disasters and Consumption Smoothing: International Evidence from Historical Data," Staff Working Papers, Bank of Canada, number 23-4, Jan, DOI: 10.34989/swp-2023-4.
- Soyoung Lee, 2023, "The Macroeconomic Effects of Debt Relief Policies During Recessions," Staff Working Papers, Bank of Canada, number 23-48, Aug, DOI: 10.34989/swp-2023-48.
- Paul Beaudry & Katya Kartashova & Césaire Meh, 2023, "Gazing at r-star: A Hysteresis Perspective," Staff Working Papers, Bank of Canada, number 23-5, Jan, DOI: 10.34989/swp-2023-5.
- Tao Wang, 2023, "Perceived versus Calibrated Income Risks in Heterogeneous-Agent Consumption Models," Staff Working Papers, Bank of Canada, number 23-59, Dec, DOI: 10.34989/swp-2023-59.
- Laure Simon, 2023, "Fiscal Stimulus and Skill Accumulation over the Life Cycle," Staff Working Papers, Bank of Canada, number 23-9, Jan, DOI: 10.34989/swp-2023-9.
- Giuseppe Pulina, 2023, "Consumer debt in Luxembourg and the euro area: Evidence from the Household Finance and Consumption Survey," BCL working papers, Central Bank of Luxembourg, number 175, Nov.
- Maximiliano Gómez Aguirre & Ariel David Krysa, 2023, "Consumer Loans Dynamics in 2020 in Argentina: An Approach Using Error Correction Models," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, volume 1, issue 81, pages 111-158, May.
- Pablo Mira, 2023, "Consumption and Fluctuations: What Role for Behavioral Economics?," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, volume 1, issue 82, pages 98-127, November.
- Brindusa Anghel, 2023, "El aumento de los contratos indefinidos y su posible impacto en el gasto," Boletín Económico, Banco de España, issue 2023/T1, DOI: https://doi.org/10.53479/29780.
- Pana Alves & Carmen Martínez-Carrascal, 2023, "La evolución y el destino del ahorro extraordinario acumulado por los hogares españoles desde el inicio de la pandemia," Boletín Económico, Banco de España, issue 2023/T2, DOI: https://doi.org/10.53479/30171.
- Carmen Martínez-Carrascal, 2023, "El dinamismo reciente del mercado laboral y su impacto sobre el consumo de los trabajadores," Boletín Económico, Banco de España, issue 2023/T3, DOI: https://doi.org/10.53479/30850.
- Lucía Cobreros & Sandra García-Uribe & Marina Gómez-García, 2023, "Las cuentas distributivas: una herramienta para el seguimiento de la distribución de componentes de la riqueza y de la deuda de los hogares," Boletín Económico, Banco de España, issue 2023/T4, DOI: https://doi.org/10.53479/33812.
- Brindusa Anghel & Cristina Barceló & Ernesto Villanueva, 2023, "The growth in permanent contracts and its potential impact on spending," Economic Bulletin, Banco de España, issue 2023/Q1, DOI: https://doi.org/10.53479/29793.
- Pana Alves & Carmen Martínez-Carrascal, 2023, "The accrual and use of the excess savings built up by Spanish households since the onset of the pandemic," Economic Bulletin, Banco de España, issue 2023/Q2, DOI: https://doi.org/10.53479/30229.
- Lucía Cobreros & Sandra García-Uribe & Marina Gómez-García, 2023, "Distributional accounts: a tool for monitoring the distribution of household wealth and debt components," Economic Bulletin, Banco de España, issue 2023/Q4, DOI: https://doi.org/10.53479/33800.
- Simone Emiliozzi & Concetta Rondinelli & Stefania Villa, 2023, "Consumption during the Covid-19 pandemic: evidence from Italian credit cards," Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area, number 769, May.
- Andrea Colabella & Elisa Guglielminetti & Concetta Rondinelli, 2023, "The distribution and use of Italian households’ savings after the pandemic," Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area, number 797, Oct.
- Niels-Jakob H. Hansen & Alessandro Lin & Rui C. Mano, 2023, "Should inequality factor into central banks’ decisions?," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1410, Apr.
- Luigi Infante & Francesca Lilla & Francesco Vercelli, 2023, "The effects of the pandemic on households' financial savings: a Bayesian structural VAR analysis," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1421, Oct.
- Cóndor Richard & Oviedo Moguel Rodolfo, 2023, "House Prices and the Distribution of Wealth Around the Great Recession," Working Papers, Banco de México, number 2023-04, Jun.
- Adame Espinosa Francisco, 2023, "Monetary Rules, Financial Stability and Welfare in a non-Ricardian Framework," Working Papers, Banco de México, number 2023-14, Nov.
- Aliocha Accardo & Sylvérie Herbert & Cristina Jude & Adrian Penalver, 2023, "Measuring and Comparing Consumption Inequality between France and the United States," Working papers, Banque de France, number 904.
- Stéphane Dupraz, 2023, "The Dynamic IS Curve when there is both Investment and Savings," Working papers, Banque de France, number 905.
- Jérôme Coffinet & Jean-Brieux Delbos & Jean-Noël Kien & Etienne Kintzler & Ariane Lestrade & Michel Mouliom & Théo Nicolas & Vojtech Kaiser, 2023, "Tracking the economy during the Covid-19 pandemic: the contribution of high frequency indicators," IFC Bulletins chapters, Bank for International Settlements, in: Bank for International Settlements, "Data science in central banking: applications and tools".
- Francesco Grigoli & Damiano Sandri, 2023, "Monetary policy and credit card spending," BIS Working Papers, Bank for International Settlements, number 1064, Jan.
- Miguel Ampudia & Russell Cooper & Julia Le Blanc & Guozhong Zhu, 2023, "MPC heterogeneity and the dynamic response of consumption to monetary policy," BIS Working Papers, Bank for International Settlements, number 1102, May.
- Damiano Sandri & Francesco Grigoli & Yuriy Gorodnichenko & Olivier Coibion, 2023, "Keep calm and bank on: panic-driven bank runs and the role of public communication," BIS Working Papers, Bank for International Settlements, number 1119, Aug.
- Enisse Kharroubi & Frank Smets, 2023, "Energy shocks as Keynesian supply shocks: implications for fiscal policy," BIS Working Papers, Bank for International Settlements, number 1120, Sep.
- Tatiana Ryzhikova & Anastasiya Skuratova, 2023, "Bank of Russia Monetary Policy and Household Consumption Expenditure," Russian Journal of Money and Finance, Bank of Russia, volume 82, issue 1, pages 3-31, March.
- Anastasia Petaykina, 2023, "Estimation of Sensitivity of Russian Household Consumption to Permanent and Transitory Income Shocks Using Kalman Filter," Russian Journal of Money and Finance, Bank of Russia, volume 82, issue 3, pages 110-127, September.
- Pavel Vikharev & Anna Novak & Andrei Shulgin, 2023, "Inequality and monetary policy: THRANK model," Bank of Russia Working Paper Series, Bank of Russia, number wps113, Jul.
- Yuxi Yao, 2023, "Accounting for the decline in homeownership among the young," Contemporary Economic Policy, Western Economic Association International, volume 41, issue 1, pages 79-102, January, DOI: 10.1111/coep.12587.
- Noam Gruber, 2023, "A relative answer to the growth–saving puzzle," International Finance, Wiley Blackwell, volume 26, issue 2, pages 139-171, August, DOI: 10.1111/infi.12426.
- Şenay Ağca & John R. Birge & Zi'ang Wang & Jing Wu, 2023, "The impact of COVID‐19 on supply chain credit risk," Production and Operations Management, Production and Operations Management Society, volume 32, issue 12, pages 4088-4113, December, DOI: 10.1111/poms.14079.
- Cristiano Cantore & Pascal Meichtry, 2023, "Unwinding quantitative easing: state dependency and household heterogeneity," Bank of England Staff Working Paper series, Bank of England, number 1030, Jul.
- Jenny Chan & Sebastian Diz & Derrick Kanngiesser, 2023, "Energy prices and household heterogeneity: monetary policy in a Gas-TANK," Bank of England Staff Working Paper series, Bank of England, number 1041, Sep.
- Rüdiger Bachmann & Christian Bayer & Martin Kornejew, 2023, "Pandemic Consumption," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2023_423, May.
- Andrea Modena & Luca Regis, 2023, "Capital Risk, Fiscal Policy, and the Distribution of Wealth," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2023_454, Aug.
- Karlsson Martin & Matvieiev Mykhailo & Obrizan Maksym, 2023, "The Macroeconomic Impact of the 1918–19 Influenza Pandemic in Sweden," The B.E. Journal of Macroeconomics, De Gruyter, volume 23, issue 2, pages 637-675, June, DOI: 10.1515/bejm-2021-0018.
- Ebadi Esmaeil & Are Wasiu, 2023, "Reinvestigating the U.S. Consumption Function: A Nonlinear Autoregressive Distributed Lags Approach," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, volume 17, issue 1, pages 1-22, January, DOI: 10.1515/econ-2022-0045.
- Cevik Serhan, 2023, "Show Me the Money: Tracking Consumer Spending with Daily Card Transaction Data During the Pandemic," German Economic Review, De Gruyter, volume 24, issue 3, pages 305-321, August, DOI: 10.1515/ger-2023-0040.
- Schnabl Gunther & Sepp Tim, 2023, "Niedrigzinspolitik und Sparkultur in Japan: Implikationen für die Wirtschaftspolitik," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, volume 72, issue 1, pages 392-440, December, DOI: 10.1515/ordo-2023-2001.
- De Nardi, M. & French, E. & Bailey Jones, J. & McGee, R., 2023, "Why Do Couples and Singles Save during Retirement? Household Heterogeneity and its Aggregate Implications," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge, number 2377, Nov.
- Bertrand Achou & Philippe De Donder & Franca Glenzer & Minjoon Lee & Marie-Louise Leroux, 2023, "At Home versus in a Nursing Home: Long-term Care Settings and Marginal Utility," Carleton Economic Papers, Carleton University, Department of Economics, number 23-02, May.
- Mamoon Kader & Hashmat Khan, 2023, "Collateral Shocks: A Dominant Source of U.S. Business Cycles?," Carleton Economic Papers, Carleton University, Department of Economics, number 23-08, Dec, revised 12 Jan 2024.
- Mariano Fernández & Miriam Malament, 2023, "Hacia la construcción de un fondo fiscal anticíclico," CEMA Working Papers: Serie Documentos de Trabajo., Universidad del CEMA, number 847, Feb.
- Ester Faia & Gianmarco I. P. Ottaviano & Saverio Spinella, 2023, "Robot adoption, worker-firm sorting and wage inequality: evidence from administrative panel data," CEP Discussion Papers, Centre for Economic Performance, LSE, number dp1902, Feb.
- Tim Obermeier, 2023, "Individual Welfare Analysis: A tale of consumption, time use and preference heterogeneity," POID Working Papers, Centre for Economic Performance, LSE, number 082, Oct.
- Marta Cota, 2023, "Extrapolative Income Expectations and Retirement Savings," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp751, Apr.
- Dusan Stojanovic, 2023, "Quantitative Easing in the Euro Area: Implications for Income and Wealth Inequality," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp760, Aug.
- Serdar Ozkan ⓡ & Joachim Hubmer ⓡ & Sergio Salgado ⓡ & Elin Halvorsen ⓡ & Serdar Ozkan, 2023, "Why Are the Wealthiest So Wealthy? A Longitudinal Empirical Investigation," CESifo Working Paper Series, CESifo, number 10324.
- Ruediger Bachmann & Christian Bayer & Martin Kornejew, 2023, "Pandemic Consumption," CESifo Working Paper Series, CESifo, number 10397.
- Victoria Baudisch & Matthias Neuenkirch, 2023, "Costly, but (Relatively) Ineffective? An Assessment of Germany’s Temporary VAT Rate Reduction during the Covid-19 Pandemic," CESifo Working Paper Series, CESifo, number 10417.
- Felix Chopra & Christopher Roth & Johannes Wohlfart, 2023, "Home Price Expectations and Spending: Evidence from a Field Experiment," CESifo Working Paper Series, CESifo, number 10450.
- Jesús Fernández-Villaverde & Joël Marbet & Galo Nuño & Omar Rachedi, 2023, "Inequality and the Zero Lower Bound," CESifo Working Paper Series, CESifo, number 10471.
- Bertrand Achou & Philippe De Donder & Franca Glenzer & Minjoon Lee & Marie-Louise Leroux, 2023, "At Home Versus in a Nursing Home: Long-Term Care Settings and Marginal Utility," CESifo Working Paper Series, CESifo, number 10482.
- Gizem Koşar & Davide Melcangi & Laura Pilossoph & David Wiczer & Gizem Kosar, 2023, "Stimulus through Insurance: The Marginal Propensity to Repay Debt," CESifo Working Paper Series, CESifo, number 10498.
- Konstantinos Angelopoulos & Spyridon Lazarakis & Rebecca Mancy & Dorice Agol & Elissaios Papyrakis, 2023, "Resource Risk and the Origins of Inequality: Evidence from a Pastoralist Economy," CESifo Working Paper Series, CESifo, number 10611.
- Philip Schnorpfeil & Michael Weber & Andreas Hackethal & Michael Weber, 2023, "Households’ Response to the Wealth Effects of Inflation," CESifo Working Paper Series, CESifo, number 10648.
- Kirill Borissov & Stefano Bosi & Thai Ha-Huy & Mikhail Pakhnin, 2023, "Heterogeneous Bequests and Social Inequalities," CESifo Working Paper Series, CESifo, number 10717.
- Friederike Fourné & Robert Lehmann, 2023, "From Shopping to Statistics: Tracking and Nowcasting Private Consumption Expenditures in Real-Time," CESifo Working Paper Series, CESifo, number 10764.
- Jean-Baptiste Michau & Yoshiyasu Ono & Matthias Schlegl, 2023, "The Preference for Wealth and Inequality: Towards a Piketty Theory of Wealth Inequality," CESifo Working Paper Series, CESifo, number 10824.
- Leo Kaas & Etienne Lalé & Nawid Siassi, 2023, "Job Ladder and Wealth Dynamics in General Equilibrium," CESifo Working Paper Series, CESifo, number 10847.
- Daniel Albuquerque & Tomer Ifergane, 2023, "The Racial Wealth Gap: the Role of Entrepreneurship," Discussion Papers, Centre for Macroeconomics (CFM), number 2310, Mar.
- Max. A. Mosley & Edmund Cornforth, 2023, "The Macroeconomic Effect of the UK’s 2022 Cost-of-Living Payments," Discussion Papers, Centre for Macroeconomics (CFM), number 2316, May.
- Benedict Clements & Sanjeev Gupta & João Jalles & Bernat Adrogue, 2023, "Climate Change and Government Borrowing Costs: A Triple Whammy for Emerging Market Economies," Working Papers, Center for Global Development, number 660, Oct.
- Carlos Madeira, 2023, "The evolution of consumption inequality and riskinsurance in Chile," Working Papers Central Bank of Chile, Central Bank of Chile, number 973, Apr.
- Carlos Madeira, 2023, "Use of Financial Instruments among the Chilean households," Working Papers Central Bank of Chile, Central Bank of Chile, number 974, Apr.
- Luca Gaegauf & Simon Scheidegger & Fabio Trojani, 2023, "A Comprehensive Machine Learning Framework for Dynamic Portfolio Choice With Transaction Costs," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 23-114, Nov.
- Christoph Basten & Merike Kukk & Jan Toczynski, 2023, "Beyond the Headline: How Personal Inflation Exposure Shapes Households’ Financial Choices," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 23-15, Feb.
- Jan Toczynski, 2023, "Spend or Invest? Analyzing MPC Heterogeneity Across Three Stimulus Programs," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 23-57, Jun.
- Bertrand Achou & Philippe De Donder & Franca Glenzer & Minjoon Lee & Marie-Louise Leroux, 2023, "At Home versus in a Nursing Home: Long-term Care Settings and Marginal Utility," CIRANO Working Papers, CIRANO, number 2023s-14, Jun.
- Tomas Adam & Jan Belka & Martin Hluze & Jakub Mateju & Hana Prause & Jiri Schwarz, 2023, "Ace in Hand: The Value of Card Data in the Game of Nowcasting," Working Papers, Czech National Bank, Research and Statistics Department, number 2023/14, Oct.
- F. Cerina & X. Raurich, 2023, "Saving Behaviour and the Intergenerational Allocation of Leisure Time," Working Paper CRENoS, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia, number 202315.
- Jiang, Yangtian & Zheng, Yu & Zhu, Lijun, 2023, "Unequal Transition: The Widening Wealth Gap amidst China's Rapid Growth," CEPR Discussion Papers, Centre for Economic Policy Research, number 17820, Jan.
- Jang, Youngsoo & Sunakawa, Takeki & Yum, Minchul, 2023, "Heterogeneity, Transfer Progressivity, and Business Cycles," CEPR Discussion Papers, Centre for Economic Policy Research, number 17848, Jan.
- Auclert, Adrien & Rognlie, Matthew & Straub, Ludwig, 2023, "The Trickling Up of Excess Savings," CEPR Discussion Papers, Centre for Economic Policy Research, number 17872, Feb.
- Di Nola, Alessandro & Kocharkov, Georgi & Scholl, Almuth & Tkhir, Anna-Mariia & Wang, Haomin, 2023, "Taxation of Top Incomes and Tax Avoidance," CEPR Discussion Papers, Centre for Economic Policy Research, number 17970, Mar.
- Gaudio, Francesco Saverio & Petrella, Ivan & Santoro, Emiliano, 2023, "Asset Market Participation, Redistribution, and Asset Pricing," CEPR Discussion Papers, Centre for Economic Policy Research, number 17984, Mar.
- Acharya, Viral & Johnson, Timothy & Sundaresan, Suresh & Zheng, Steven, 2023, "Vaccine Progress, Stock Prices, and the Value of Ending the Pandemic," CEPR Discussion Papers, Centre for Economic Policy Research, number 18025, Mar.
- Acharya, Viral & Johnson, Timothy & Sundaresan, Suresh & Zheng, Steven, 2023, "Disasters with Unobservable Duration and Frequency: Intensified Responses and Diminished Preparednes," CEPR Discussion Papers, Centre for Economic Policy Research, number 18026, Mar.
- Vestman, Roine & Bojeryd, Jesper & Tyrefors, Björn & Kessel, Dany, 2023, "The Housing Wealth Effect: Quasi-Experimental Evidence," CEPR Discussion Papers, Centre for Economic Policy Research, number 18034, Mar.
- Blundell, Richard & Borella, Margherita & Commault, Jeanne & De Nardi, Mariacristina, 2023, "Old Age Risks, Consumption, and Insurance," CEPR Discussion Papers, Centre for Economic Policy Research, number 18047, Mar.
- Bachmann, Rüdiger & Bayer, Christian & Kornejew, Martin, 2023, "Pandemic Consumption," CEPR Discussion Papers, Centre for Economic Policy Research, number 18120, Apr.
- Fagereng, Andreas & Gulbrandsen, Magnus A.H. & Blomhoff Holm, Martin & Natvik, Gisle, 2023, "Fisher Effects, Monetary Policy, and Household Indebtedness," CEPR Discussion Papers, Centre for Economic Policy Research, number 18214, Jun.
- Heathcote, Jonathan & Perri, Fabrizio & Violante, Giovanni & Zhang, Lichen, 2023, "More Unequal We Stand? Inequality Dynamics in the United States 1967-2021," CEPR Discussion Papers, Centre for Economic Policy Research, number 18294, Jul.
- Grevenbrock, Nils & Ludwig, Alexander & Siassi, Nawid, 2023, "Homeownership Rates, Housing Policies, and Co-Residence Decisions," CEPR Discussion Papers, Centre for Economic Policy Research, number 18305, Jul.
- Schnorpfeil, Philip & Weber, Michael & Hackethal, Andreas, 2023, "Households' response to the wealth effects of inflation," CEPR Discussion Papers, Centre for Economic Policy Research, number 18440, Sep.
- Sandri, Damiano & Grigoli, Francesco & Gorodnichenko, Yuriy & Coibion, Olivier, 2023, "Keep Calm and Bank On: Panic-Driven Bank Runs and the Role of Public Communication," CEPR Discussion Papers, Centre for Economic Policy Research, number 18448, Sep.
- Faia, Ester & Shabalina, Ekaterina, 2023, "Cyclical Move to Opportunities," CEPR Discussion Papers, Centre for Economic Policy Research, number 18546, Oct.
- Fagereng, Andreas & Onshuus, Helene & Næss Torstensen, Kjersti, 2023, "The Consumption Expenditure Response to Unemployment: Evidence from Norwegian Households," CEPR Discussion Papers, Centre for Economic Policy Research, number 18550, Oct.
- De Bonis, Riccardo & Liberati, Danilo & Muellbauer, John & Rondinelli, Concetta, 2023, "Why net worth is the wrong concept for explaining consumption: evidence from Italy," CEPR Discussion Papers, Centre for Economic Policy Research, number 18597, Nov.
- Bohr, Clement & Mestieri, Marti & Yavuz, Emre, 2023, "Aggregation and Closed-Form Results for Nonhomothetic CES Preferences," CEPR Discussion Papers, Centre for Economic Policy Research, number 18606, Nov.
- Pallotti, Filippo & Paz-Pardo, Gonzalo & Slacalek, Jirka & Tristani, Oreste & Violante, Giovanni, 2023, "Who Bears the Costs of Inflation? Euro Area Households and the 2021–2022 Shock," CEPR Discussion Papers, Centre for Economic Policy Research, number 18611, Nov.
- Krueger, Dirk & Malkov, Egor & Perri, Fabrizio, 2023, "How Do Households Respond to Income Shocks?," CEPR Discussion Papers, Centre for Economic Policy Research, number 18614, Nov.
- Ando, Yoshiki & Krueger, Dirk & Uhlig, Harald, 2023, "One-Sided Limited Commitment and Aggregate Risk," CEPR Discussion Papers, Centre for Economic Policy Research, number 18617, Nov.
- Agrawal, David & Foremny, Dirk & Martinez-Toledano, Clara, 2023, "Wealth Tax Mobility and Tax Coordination," CEPR Discussion Papers, Centre for Economic Policy Research, number 18620, Nov.
- Gaillard, Alexandre & Hellwig, Christian & Wangner, Philipp & Werquin, Nicolas, 2023, "Consumption, Wealth, and Income Inequality: A Tale of Tails," CEPR Discussion Papers, Centre for Economic Policy Research, number 18666, Dec.
- Laeven, Luc & Popov, Alexander & Sievert, Clara, 2023, "Is Religion an Inferior Good? Evidence from Fluctuations in Housing Wealth," CEPR Discussion Papers, Centre for Economic Policy Research, number 18671, Dec.
- Boehm, Johannes & Fize, Etienne & Jaravel, Xavier, 2023, "Five Facts about MPCs: Evidence from a Randomized Experiment," CEPR Discussion Papers, Centre for Economic Policy Research, number 18676, Dec.
- Kaas, Leo & Lalé, Etienne & Siassi, Nawid, 2023, "Job Ladder and Wealth Dynamics in General Equilibrium," CEPR Discussion Papers, Centre for Economic Policy Research, number 18706, Dec.
- Jean-Baptiste Michau & Yoshiyasu Ono & Matthias Schlegl, 2023, "The Preference for Wealth and Inequality: Towards a Piketty Theory of Wealth Inequality," Working Papers, Center for Research in Economics and Statistics, number 2023-11, Nov.
- Yulei Luo & Jun Nie & Haijun Wang, 2023, "Ambiguous Consumption and Asset Allocation with Unknown Markovian Income Growth," Annals of Economics and Finance, Society for AEF, volume 24, issue 2, pages 237-275, November.
- Bagchi, Shantanu & Jung, Juergen, 2023, "Health risk and the welfare effects of Social Security," Macroeconomic Dynamics, Cambridge University Press, volume 27, issue 7, pages 1767-1806, October.
- Kyriaki G. LouKa & Nektarios A. Michail, 2023, "Missed payments, renegotiations, and household consumption," Working Papers, Central Bank of Cyprus, number 2023-1, Jan.
- Manuel Molterer & Julian Amon & Marcel Tyrell, 2023, "Specialized Financial Intermediaries and the Impact of Savings and Loan Contracts on Real Estate Finance," Credit and Capital Markets – Kredit und Kapital, Duncker & Humblot, Berlin, volume 56, issue 2, pages 145-195, DOI: 10.3790/ccm.56.2.145.
- Souleymane Faye & Sarah Godar & Gabriel Zucman, 2023, "Offshore-Finanzvermögen seit 20 Jahren nahezu unverändert bei zehn Prozent der globalen Wirtschaftsleistung," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, volume 90, issue 47, pages 649-656.
- Emmanuel De Veirman, 2023, "Loan-to-Value Shocks and Macroeconomic Stability," Working Papers, DNB, number 763, Jan.
- Jean-Baptiste Michau & Yoshiyasu Ono & Matthias Schlegl, 2023, "The Preference for Wealth and Inequality: Towards a Piketty Theory of Wealth Inequality," ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka, number 1223, Nov.
- Bobasu, Alina & Di Nino, Virginia & Osbat, Chiara, 2023, "The impact of the recent inflation surge across households," Economic Bulletin Articles, European Central Bank, volume 3.
- Adolfsen, Jakob Feveile & Lappe, Marie-Sophie & Manu, Ana-Simona, 2023, "Global risks to the EU natural gas market," Economic Bulletin Boxes, European Central Bank, volume 1.
- Chiacchio, Francesco & De Santis, Roberto A. & Gunnella, Vanessa & Lebastard, Laura, 2023, "How have higher energy prices affected industrial production and imports?," Economic Bulletin Boxes, European Central Bank, volume 1.
- Adolfsen, Jakob Feveile & Gerinovics, Rinalds & Manu, Ana-Simona & Schmith, Adrian, 2023, "Oil price developments and Russian oil flows since the EU embargo and G7 price cap," Economic Bulletin Boxes, European Central Bank, volume 2.
- Battistini, Niccolò & Bobasu, Alina & Gareis, Johannes, 2023, "Who foots the bill? The uneven impact of the recent energy price shock," Economic Bulletin Boxes, European Central Bank, volume 2.
- Battistini, Niccolò & Di Nino, Virginia & Gareis, Johannes, 2023, "The consumption impulse from pandemic savings ‒ does the composition matter?," Economic Bulletin Boxes, European Central Bank, volume 4.
- Charalambakis, Evangelos & Di Nino, Virginia, 2023, "Consumers’ interest rate expectations in a monetary policy tightening cycle," Economic Bulletin Boxes, European Central Bank, volume 5.
- Di Casola, Paola, 2023, "The role of housing wealth in the transmission of monetary policy," Economic Bulletin Boxes, European Central Bank, volume 5.
- Koester, Gerrit & Gonçalves, Eduardo & Gomez-Salvador, Ramon & Doleschel, Julia & Andersson, Malin & Pardo, Belén González & Lebastard, Laura, 2023, "Inflation developments in the euro area and the United States," Economic Bulletin Boxes, European Central Bank, volume 8.
- Bobasu, Alina & Gareis, Johannes, 2023, "The impact of higher energy prices on services and goods consumption in the euro area," Economic Bulletin Boxes, European Central Bank, volume 8.
- Cimadomo, Jacopo & Giuliodori, Massimo & Lengyel, Andras & Mumtaz, Haroon, 2023, "Changing patterns of risk-sharing channels in the United States and the euro area," Working Paper Series, European Central Bank, number 2849, Oct.
- Savoia, Ettore, 2023, "The effects of labor income risk heterogeneity on the marginal propensity to consume," Working Paper Series, European Central Bank, number 2866, Nov.
- Pallotti, Filippo & Paz-Pardo, Gonzalo & Slacalek, Jiri & Tristani, Oreste & Violante, Giovanni L., 2023, "Who bears the costs of inflation? Euro area households and the 2021–2022 shock," Working Paper Series, European Central Bank, number 2877, Nov.
- Shin Fukuda, 2023, "Impacts of the Substitutability of Consumption on Infection Dynamics," International Journal of Economics and Financial Issues, Econjournals, volume 13, issue 4, pages 8-14, July.
- Heru Wahyudi & Winda Rika Lestasi & Ratna Septiyanti & Widia Anggi Palupi, 2023, "Walking as an Alternative to Indonesia s Oil Consumption Problem," International Journal of Energy Economics and Policy, Econjournals, volume 13, issue 4, pages 111-119, July.
- Van Nam Mai & Quoc Nghi Nguyen, 2023, "Electricity - Saving Behavioral Intention of Farmers," International Journal of Energy Economics and Policy, Econjournals, volume 13, issue 5, pages 15-23, September.
- Quoc Nghi Nguyen & Van Nam Mai & Thi Hong Loc Hoang, 2023, "Acceptance of Solar Technology by Farmers in Vietnam," International Journal of Energy Economics and Policy, Econjournals, volume 13, issue 6, pages 93-101, November.
- Le Thi Dieu Hien & Khuu Ngoc Huyen & Thi Hong Loc Hoang, 2023, "Factors Affecting Energy-Saving Intentions among Youth in Vietnam," International Journal of Energy Economics and Policy, Econjournals, volume 13, issue 6, pages 603-609, November.
- Antonio Cutanda & Juan A. Juan A. Sanchis-Llopis, 2023, "How do consumers react to unanticipated wealth effects: evidence from Spain," Working Papers, Department of Applied Economics II, Universidad de Valencia, number 2309, Oct.
- Beyer, Robert C.M. & Jain, Tarun & Sinha, Sonalika, 2023, "Lights out? COVID-19 containment policies and economic activity," Journal of Asian Economics, Elsevier, volume 85, issue C, DOI: 10.1016/j.asieco.2023.101589.
- Carbó-Valverde, Santiago & Cuadros-Solas, Pedro J. & Rodríguez-Fernández, Francisco & Sánchez-Béjar, José Juan, 2023, "Mobility restrictions and payment choices: The case of the Covid-19 pandemic," Journal of Behavioral and Experimental Finance, Elsevier, volume 40, issue C, DOI: 10.1016/j.jbef.2023.100850.
- Gong, Qiang & Ban, Mingyuan & Yu, Yunjun & Wang, Luying & Yuan, Yan, 2023, "Digital wealth management and consumption: Micro evidence from individual investments," China Economic Review, Elsevier, volume 81, issue C, DOI: 10.1016/j.chieco.2023.102022.
- Battistin, Erich & De Nadai, Michele & Krishnan, Nandini, 2023, "The insights and illusions of consumption measurements," Journal of Development Economics, Elsevier, volume 161, issue C, DOI: 10.1016/j.jdeveco.2022.102991.
- Qian, Wei, 2023, "House price expectations and household consumption," Journal of Economic Dynamics and Control, Elsevier, volume 151, issue C, DOI: 10.1016/j.jedc.2023.104652.
- Mork, Knut Anton & Harang, Fabian Andsem & Trønnes, Haakon Andreas & Bjerketvedt, Vegard Skonseng, 2023, "Dynamic spending and portfolio decisions with a soft social norm," Journal of Economic Dynamics and Control, Elsevier, volume 151, issue C, DOI: 10.1016/j.jedc.2023.104667.
- Le Grand, François & Ragot, Xavier, 2023, "Optimal policies with heterogeneous agents: Truncation and transitions," Journal of Economic Dynamics and Control, Elsevier, volume 156, issue C, DOI: 10.1016/j.jedc.2023.104737.
- Adams, Jonathan J., 2023, "Moderating noise-driven macroeconomic fluctuations under dispersed information," Journal of Economic Dynamics and Control, Elsevier, volume 156, issue C, DOI: 10.1016/j.jedc.2023.104752.
- Xu, Can, 2023, "Do households react to policy uncertainty by increasing savings?," Economic Analysis and Policy, Elsevier, volume 80, issue C, pages 770-785, DOI: 10.1016/j.eap.2023.09.018.
- Lee, Seungyoon, 2023, "House prices, homeownership, and household consumption: Evidence from household panel data in Korea," Economic Modelling, Elsevier, volume 126, issue C, DOI: 10.1016/j.econmod.2023.106355.
- Woo, Jinhee, 2023, "The power of forward guidance: The role of social transfer," Economic Modelling, Elsevier, volume 126, issue C, DOI: 10.1016/j.econmod.2023.106387.
- Malo, Miguel Á. & Sciulli, Dario, 2023, "Expected wealth transfers and consumption across the wealth distribution in Europe," Economic Modelling, Elsevier, volume 126, issue C, DOI: 10.1016/j.econmod.2023.106416.
- Domonkos, Tomas & Fisera, Boris & Siranova, Maria, 2023, "Income inequality as long-term conditioning factor of monetary transmission to bank rates," Economic Modelling, Elsevier, volume 128, issue C, DOI: 10.1016/j.econmod.2023.106492.
- Palagi, Elisa & Napoletano, Mauro & Roventini, Andrea & Gaffard, Jean-Luc, 2023, "An agent-based model of trickle-up growth and income inequality," Economic Modelling, Elsevier, volume 129, issue C, DOI: 10.1016/j.econmod.2023.106535.
- Laureti, Carolina & Szafarz, Ariane, 2023, "Banking regulation and costless commitment contracts for time-inconsistent agents," Economic Modelling, Elsevier, volume 129, issue C, DOI: 10.1016/j.econmod.2023.106536.
- Trinh, Cong Tam & Chao, Chi-Chur & Ho, Nhut Quang, 2023, "Private health insurance consumption and public health-care provision in OECD countries: Impact of culture, finance, and the pandemic," The North American Journal of Economics and Finance, Elsevier, volume 64, issue C, DOI: 10.1016/j.najef.2022.101849.
- Crossley, Thomas F. & Fisher, Paul & Levell, Peter & Low, Hamish, 2023, "Stimulus payments and private transfers," Economics Letters, Elsevier, volume 222, issue C, DOI: 10.1016/j.econlet.2022.110944.
- Yang, C.C. & Zhao, Xueya & Zhu, Shenghao, 2023, "Tax progressivity and the Pareto tail of income distributions," Economics Letters, Elsevier, volume 231, issue C, DOI: 10.1016/j.econlet.2023.111273.
- Gómez, Manuel A., 2023, "Factor substitution, long-run equilibrium, and convergence speed in the Lucas model," Economics Letters, Elsevier, volume 232, issue C, DOI: 10.1016/j.econlet.2023.111358.
- Amaral, Pedro S., 2023, "The demographic transition and the asset supply channel," European Economic Review, Elsevier, volume 151, issue C, DOI: 10.1016/j.euroecorev.2022.104317.
- Bounie, David & Camara, Youssouf & Galbraith, John W., 2023, "Consumer mobility and expenditure during the COVID-19 containments: Evidence from French transaction data," European Economic Review, Elsevier, volume 151, issue C, DOI: 10.1016/j.euroecorev.2022.104326.
- Miranda-Pinto, Jorge & Murphy, Daniel & Walsh, Kieran James & Young, Eric R., 2023, "Saving constraints, inequality, and the credit market response to fiscal stimulus," European Economic Review, Elsevier, volume 151, issue C, DOI: 10.1016/j.euroecorev.2022.104355.
- Liao, Shian-Yu & Chen, Been-Lon, 2023, "News shocks to investment-specific technology in business cycles," European Economic Review, Elsevier, volume 152, issue C, DOI: 10.1016/j.euroecorev.2022.104363.
- Baek, Seungjun, 2023, "The redistributive effects of monetary policy in an overlapping generations model," European Economic Review, Elsevier, volume 155, issue C, DOI: 10.1016/j.euroecorev.2023.104433.
- Felici, Marco & Kenny, Geoff & Friz, Roberta, 2023, "Consumer savings behaviour at low and negative interest rates," European Economic Review, Elsevier, volume 157, issue C, DOI: 10.1016/j.euroecorev.2023.104503.
- Diz, Sebastian & Giarda, Mario & Romero, Damián, 2023, "Inequality, nominal rigidities, and aggregate demand," European Economic Review, Elsevier, volume 158, issue C, DOI: 10.1016/j.euroecorev.2023.104529.
- de Castro, Luciano & Cundy, Lance D. & Galvao, Antonio F. & Westenberger, Rafael, 2023, "A dynamic quantile model for distinguishing intertemporal substitution from risk aversion," European Economic Review, Elsevier, volume 159, issue C, DOI: 10.1016/j.euroecorev.2023.104587.
- Sulka, Tomasz, 2023, "Planning and saving for retirement," European Economic Review, Elsevier, volume 160, issue C, DOI: 10.1016/j.euroecorev.2023.104609.
- Madeira, Carlos, 2023, "The evolution of consumption inequality and risk-insurance in Chile," Emerging Markets Review, Elsevier, volume 54, issue C, DOI: 10.1016/j.ememar.2023.100996.
- Funke, Michael & Li, Xiang & Zhong, Doudou, 2023, "Household indebtedness, financial frictions and the transmission of monetary policy to consumption: Evidence from China," Emerging Markets Review, Elsevier, volume 55, issue C, DOI: 10.1016/j.ememar.2022.100974.
- Lee, Minjoon, 2023, "Portfolio allocation over the life cycle with multiple late-in-life saving motives," Journal of Empirical Finance, Elsevier, volume 74, issue C, DOI: 10.1016/j.jempfin.2023.101421.
- Sohag, Kazi & Hassan, M. Kabir & Kalina, Irina & Mariev, Oleg, 2023, "The relative response of Russian National Wealth Fund to oil demand, supply and risk shocks," Energy Economics, Elsevier, volume 123, issue C, DOI: 10.1016/j.eneco.2023.106724.
- Okubo, Masakatsu, 2023, "The moment restrictions for the durable consumption model with recursive utility revisited," Finance Research Letters, Elsevier, volume 52, issue C, DOI: 10.1016/j.frl.2022.103453.
- Kim, Daehwan & Nilsen, Jeffrey, 2023, "A Gordon growth formula for wealth-income ratios and its implications on cross-country differences," Finance Research Letters, Elsevier, volume 58, issue PD, DOI: 10.1016/j.frl.2023.104609.
- Teixeira, André, 2023, "Does macroprudential policy affect wealth inequality? Evidence from synthetic controls," Journal of Financial Stability, Elsevier, volume 67, issue C, DOI: 10.1016/j.jfs.2023.101135.
- Bárány, Zsófia L. & Coeurdacier, Nicolas & Guibaud, Stéphane, 2023, "Capital flows in an aging world," Journal of International Economics, Elsevier, volume 140, issue C, DOI: 10.1016/j.jinteco.2022.103707.
- Geiger, Martin & Gründler, Daniel & Scharler, Johann, 2023, "Monetary policy shocks and consumer expectations in the euro area," Journal of International Economics, Elsevier, volume 140, issue C, DOI: 10.1016/j.jinteco.2022.103708.
- Hong, Seungki, 2023, "MPCs in an emerging economy: Evidence from Peru," Journal of International Economics, Elsevier, volume 140, issue C, DOI: 10.1016/j.jinteco.2022.103712.
- Oskolkov, Aleksei & Sorá, Marcos, 2023, "Macroprudential policy for internal financial dollarization," Journal of International Economics, Elsevier, volume 145, issue C, DOI: 10.1016/j.jinteco.2023.103838.
- Heinzel, Christoph, 2023, "Comparing utility derivative premia under additive and multiplicative risks," Insurance: Mathematics and Economics, Elsevier, volume 111, issue C, pages 23-40, DOI: 10.1016/j.insmatheco.2023.02.006.
- Fischer, Marcel & Jensen, Bjarne Astrup & Koch, Marlene, 2023, "Optimal retirement savings over the life cycle: A deterministic analysis in closed form," Insurance: Mathematics and Economics, Elsevier, volume 112, issue C, pages 48-58, DOI: 10.1016/j.insmatheco.2023.05.010.
- Chen, Damiaan H.J. & Beetsma, Roel M.W.J. & van Wijnbergen, Sweder J.G., 2023, "Intergenerational sharing of unhedgeable inflation risk," Insurance: Mathematics and Economics, Elsevier, volume 113, issue C, pages 140-160, DOI: 10.1016/j.insmatheco.2023.08.004.
- Kikuchi, Junichi & Nagao, Ryoya & Nakazono, Yoshiyuki, 2023, "Expenditure responses to the COVID-19 pandemic," Japan and the World Economy, Elsevier, volume 65, issue C, DOI: 10.1016/j.japwor.2022.101174.
- Cardak, Buly A. & Martin, Vance L., 2023, "Household willingness to take financial risk: Stockmarket movements and life‐cycle effects," Journal of Banking & Finance, Elsevier, volume 149, issue C, DOI: 10.1016/j.jbankfin.2022.106752.
- Krivenko, Pavel, 2023, "The Role of Moving Shocks, Unemployment, and Policy in Understanding Housing Bust," Journal of Banking & Finance, Elsevier, volume 154, issue C, DOI: 10.1016/j.jbankfin.2023.106934.
- Hambel, Christoph & Kraft, Holger & Meyer-Wehmann, André, 2023, "When should retirees tap their home equity?," Journal of Banking & Finance, Elsevier, volume 154, issue C, DOI: 10.1016/j.jbankfin.2023.106967.
- Lehmann-Hasemeyer, Sibylle & Neumayer, Andreas & Streb, Jochen, 2023, "Heterogeneous inflation and deflation experiences and savings decisions during German industrialization," Journal of Banking & Finance, Elsevier, volume 154, issue C, DOI: 10.1016/j.jbankfin.2023.106978.
- Kavonius, Ilja Kristian & Törmälehto, Veli-Matti, 2023, "Is property driving income distribution? – An analysis of the linkage between income and wealth in Finland, France and Spain," Journal of Comparative Economics, Elsevier, volume 51, issue 3, pages 858-879, DOI: 10.1016/j.jce.2023.02.006.
- Pan, Wei-Fong, 2023, "Household debt in the times of populism," Journal of Economic Behavior & Organization, Elsevier, volume 205, issue C, pages 202-215, DOI: 10.1016/j.jebo.2022.11.012.
- Miller, Logan & Rholes, Ryan, 2023, "Joint vs. Individual performance in a dynamic choice problem," Journal of Economic Behavior & Organization, Elsevier, volume 212, issue C, pages 897-934, DOI: 10.1016/j.jebo.2023.05.022.
- Niizeki, Takeshi & Hori, Masahiro, 2023, "Inflation expectations and household expenditure: Evidence from pseudo-panel data in Japan," Journal of Economic Behavior & Organization, Elsevier, volume 214, issue C, pages 308-324, DOI: 10.1016/j.jebo.2023.08.008.
- Kang, Minwook & Kim, Eungsik, 2023, "A government policy with time-inconsistent consumers," Journal of Economic Behavior & Organization, Elsevier, volume 214, issue C, pages 44-67, DOI: 10.1016/j.jebo.2023.07.035.
- Fierro, Luca Eduardo & Giri, Federico & Russo, Alberto, 2023, "Inequality-constrained monetary policy in a financialized economy," Journal of Economic Behavior & Organization, Elsevier, volume 216, issue C, pages 366-385, DOI: 10.1016/j.jebo.2023.10.031.
- Jurado, Kyle, 2023, "Rational inattention in the frequency domain," Journal of Economic Theory, Elsevier, volume 208, issue C, DOI: 10.1016/j.jet.2022.105604.
- Hori, Takeo & Im, Ryonghun, 2023, "Asset bubbles, entrepreneurial risks, and economic growth," Journal of Economic Theory, Elsevier, volume 210, issue C, DOI: 10.1016/j.jet.2023.105663.
- Vihriälä, Erkki, 2023, "Self-imposed liquidity constraints via voluntary debt repayment," Journal of Financial Economics, Elsevier, volume 150, issue 2, DOI: 10.1016/j.jfineco.2023.103708.
- Strulik, Holger, 2023, "Hooked on weight control: An economic theory of anorexia nervosa and its impact on health and longevity," Journal of Health Economics, Elsevier, volume 88, issue C, DOI: 10.1016/j.jhealeco.2023.102725.
- Gamber, William & Graham, James & Yadav, Anirudh, 2023, "Stuck at home: Housing demand during the COVID-19 pandemic," Journal of Housing Economics, Elsevier, volume 59, issue PB, DOI: 10.1016/j.jhe.2022.101908.
- Guo, Fei & Kit-Ming Yan, Isabel & Chen, Tao & Hu, Chun-Tien, 2023, "Fiscal multipliers, monetary efficacy, and hand-to-mouth households," Journal of International Money and Finance, Elsevier, volume 130, issue C, DOI: 10.1016/j.jimonfin.2022.102743.
- Asdrubali, Pierfederico & Kim, Soyoung & Pericoli, Filippo Maria & Poncela, Pilar, 2023, "Risk sharing channels in OECD countries: A heterogeneous panel VAR approach," Journal of International Money and Finance, Elsevier, volume 131, issue C, DOI: 10.1016/j.jimonfin.2023.102804.
- Niizeki, Takeshi & Hamaaki, Junya, 2023, "Do the self-employed underreport their income? Evidence from Japanese panel data," Journal of the Japanese and International Economies, Elsevier, volume 67, issue C, DOI: 10.1016/j.jjie.2022.101244.
- Matusche, Alexander & Wacks, Johannes, 2023, "Does wealth inequality affect the transmission of monetary policy?," Journal of Macroeconomics, Elsevier, volume 75, issue C, DOI: 10.1016/j.jmacro.2022.103474.
- Okubo, Masakatsu, 2023, "Model uncertainty, economic development, and welfare costs of business cycles," Journal of Macroeconomics, Elsevier, volume 76, issue C, DOI: 10.1016/j.jmacro.2023.103514.
Printed from https://ideas.repec.org/j/E21-9.html