CEPR Network on Household Finance

This network, led by Michael Haliassos of Goethe University Frankfurt, aims to promote research on household finance that is both scientifically excellent and relevant to policymakers and market participants.

Conferences and Workshops

The network provides an organization underpinning the previously established European Conference in Household Finance, augmented by an additional annual Workshop, and further events.


  • The Third European Workshop on Household Finance will take place on 11-12 May 2018 at the Imperial College of London. The call for papers for this conference is open until Thursday 30th November 2017.


The 2017 conference took place in Sardinia on October 6 and 7, with Luigi Guiso and Tullio Jappelli as local organizers. For the second time, a Prize for the best PhD student paper was awarded, this time to Julio Galvez (CEMFI) for his paper on "Household portfolio choices and nonlinear income risk". More information on the conference can be found on the event webpage.  

During a joint TFI-CEPR event held on the 5th of October, the Think Forward Initiative Network launched their First Research Challenge.

The CEPR Network on Household Finance and the Copenhagen Business School, supported in part by the Think Forward Initiative (TFI), organised the 2017 CEPR European Workshop on Household Finance in Copenhagen in April. The workshop launched a prize for the best student paper in household finance which was awarded to Matteo Benetton for his paper on "Lenders' competition and macro-prudential regulation: A model of the UK mortgage supermarket". Short videos were produced to summarise the sessions and can be viewed here. ​Further information on the workshop itself can be found on the event webpage.

CEPR, Copenhagen Business School, the Einaudi Institute for Economics and Finance (EIEF), HEC Paris, the Observatoire de l'Epargne Européenne (OEE), and the Swedish House of Finance (SHoF) at the Stockholm School of Economics organised the 2016 CEPR European Conference on Household Finance. The objective was to present state-of-the-art empirical research and empirically motivated theoretical research on household financial behaviour and on how it is influenced by other choices, government policies, and the overall economic environment.

CEPR, the Imperial College Business School and the London Business School organised the first European Household Finance Workshop on May 6-7, 2016. The objective was to host presentations and foster interaction between senior and junior researchers working in the area of household finance. The workshop included state-of-the-art research on household financial behaviour and on how this is influenced by other choices, government policies, and the overall economic environment.

The Research Center SAFE (Sustainable Architecture for Finance in Europe) at Goethe University Frankfurt, the Copenhagen Business School, the Einaudi Institute for Economics and Finance (EIEF), HEC Paris, and the Swedish House of Finance (SHoF) organized the 2015 European Conference of the CEPR Network on Household Finance.

  • Previous conferences: Athens, organized by CFS (2010); Rome at EIEF (2011); Oxford at SBS (2012, joint with NBER); Rome at EIEF (2013); Stockholm at Swedish House of Finance (2014).

Notices and Newsletters

Household Finance Newsletter #01 (N.B. The date for 2017 Sardinia conference has changed from September 15-16 to October 6 and 7)

Job Opening - ING Group, WO Workalong Internship at the Group Research Department in Amsterdam

Further Activities

The Network will disseminate research findings to practitioners and policy makers in Europe and around the world, while drawing on their insights in terms of research questions that have practical or policy relevance.

In April 2016, there was a special session on Household Finance, organised by Michael Haliassos, in the renowned Shanghai Forum (Shanghai, China). The Forum is run annually by Fudan University and the Korea Foundation for Advanced Studies. The CEPR network was heavily involved in the session, with presentations by Laurent Calvet, Francisco Gomes, Michael Haliassos, Luigi Guiso and Tullio Jappelli.

Other activities, such as research exchanges, are also possible. Network research and activities will remain non-partisan, independent of industry and of political parties.

Think Forward Initiative

CEPR has become an academic partner of the Think Forward Initiative. Through this partnership, TFI provides funding to the Household Finance Initiative. The Network, in collaboration with TFI, organizes events that promote closer interaction between academics, practitioners, and policy makers. The first TFI-CEPR event was organized in London on September 14, 2016. 

Research promotion and encouragement of young researchers

The network promotes young researchers. Its conference and workshop will feature, in addition to regular paper presentations, presentations by doctoral students in household finance. The Steering Committee will award a special Network Prize to the best student presentation, currently funded by the Think Forward Initiative.

On the scientific front, the network will promote serious research by helping to coordinate the creation and dissemination of household finance data, by editing special issues on Household Finance in existing journals, and by pursuing the launch of a high-quality academic field journal on Household Finance (which exists nowhere in the world).

Network members campaign for the importance of micro data for household finance research. The use of administrative data sets, collected for taxation or other purposes and relevant for household finance research, is emphasized. The network will investigate whether use of the Scandinavian approach to developing micro data can be streamlined, extended, and applied to other countries.

Founding Members

Network DirectorMichael Haliassos (Goethe University and CEPR).
Founding MembersSteffen Andersen (Copenhagen Business School and CEPR); Laurent Calvet (EDHEC Business School and CEPR); Joao Cocco (London Business School and CEPR); Francisco Gomes (London Business School and CEPR); Luigi Guiso (EIEF and CEPR); Tullio Jappelli (University of Naples Federico II, CSEF and CEPR); Matti Keloharju (Aalto University and CEPR); Alex Michaelides (Imperial College and CEPR); Tarun Ramadorai (Imperial College and CEPR); and, Paolo Sodini (Stockholm School of Economics and SHoF).

Network Steering Committee

The Founding Members 

Giovanna Nicodano (Università di Torino) 

Wenlan Qian (National University of Singapore)

Network Affilliates

Cristian Badarinza (National University of Singapore) 

Yigitcan Karabulut (Rotterdam School of Management).


Interested CEPR Fellows and Affiliates should contact Simran Bola for more information.