The article is written by Caterina Mendicino (Directorate General Monetary Policy, European Central Bank). Lukas Nord (University of Pennsylvania) and Marcel Peruffo (University of Sydney) whose findings underscore the importance of considering household heterogeneity when assessing the impact of banking sector distress.
A clear assessment of these
heterogeneous effects is critical for understanding which households are
impacted the most by banking sector disruptions,
and consequently who ultimately benefits from government support to
distressed financial institutions.
The ECB Research Bulletin features a selection of
recent work on policy-relevant topics by ECB economists. Published on a
monthly basis, the articles in the Research Bulletin are intended for a
general audience. The views expressed in each
article are those of the authors and do not necessarily represent the
views of the European Central Bank and the Eurosystem. (...)
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