Chart 8 Decline in hours worked and government support by income percentiles https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201126~c5c1036327.en.html  7/19  01/12/2020  Monetary policy in a pandemic: ensuring favourable financing conditions  (x-axis: income percentiles, y-axis: percentage of respondents)  Source: ECB pilot Consumer Expectations Survey (CES) – June 2020 wave. Note: All reported numbers are aggregated using individual household weights.
A related question is: which balance between bank-based and market-based finance is most conducive to growth? This question is not new. In the early 1990s, for instance, the Eastern European countries had to decide whether to opt for a bank-based or a market-based financial system. Both systems indeed have advantages, depending on the stage of economic development and the stage of the business cycle.