7 See European Commission (2021), “Special topic: Will consumers save the EU recovery?
– Insights from the  Commission’s Consumer Survey” in European Business Cycle Indicators, European Commission Technical Papers, No 047, April; and Fisher, J.D., Johnson, D. S., Smeeding, T M. and Thompson, J. P. (2020),“ Estimating the marginal propensity to consume using the distributions of income, consumption, and wealth” , Journal of Macroeconomics, Vol. 65. 8 See Batini et al.