EL HERRADI, El Mehdi; LEROY, Aurelien

Bordeaux Sciences Economiques [BSE]

LEROY, Aurelien

Université de Bordeaux [UB]
Bordeaux Sciences Economiques [BSE]

Langue

Document de travail - Pré-publication

Résumé en anglais

This paper assesses whether monetary policy announcements have an impact on households’ (subjective) well-being by analysing life satisfaction on the days before and after monetary surprises in Germany. To do so, we use individual-level information on life satisfaction from the German Socio-Economic Panel (SOEP) survey and identify the day on which each answer is submitted to the survey. We also exploit the Euro Area Monetary Policy event study Database (EA-MPD) to obtain daily-level information on European Central Bank (ECB) monetary surprises. Our results show that life satisfaction is significantly affected by monetary policy surprises: tightening surprises decrease life satisfaction, while easing surprises increase it.< Réduire

Mots clés en anglais

Monetary policy

Subjective Well-Being

Survey data

European Central Bank

URI

https://oskar-bordeaux.fr/handle/20.500.12278/142304

Unités de recherche

Bordeaux Sciences Economiques / Bordeaux School of Economics (BSE) - UMR 6060

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Navigating the well-being effects of monetary policy:Evidence from the European Central Bank

Langue

Résumé en anglais

Mots clés en anglais

URI

Unités de recherche