I know how you feel. It's totally soul destroying. 
I used to have a lot of issues with a new downstairs neighbour for three years. it finally all stopped about this time last year.
Here's what i did:
At first, i tried talking to him. He got agressive, so i then started putting my complaints to the council.
The council gave me the number for the local anti-social 'sound team'.
Each time the neighbour had a wild party, yelled for hours on end, played music for hours on end, threw things against his ceiling relentlessly - i called the sound team.
if it was during the day, they were here within the hour. But if it was after business hours (especially from 8pm onwards) they could take up to 5 hours to come out. And by that time, the noise had stopped.
Apparently, the sound team had to record/witness his excessive noise themselves. And then issue him with a warning through the post. If he got three warnings without a six month break between any of them, i was told we could start court proceedings to have him evicted. But if say six months passed after his second warning, and then he suddenly started up again, the next warning wouldn't count as a third warning, it would go back to being the first.
This is why it has taken so long to get something done. His front window looks out to the street, so he knew to stop his music etc when the sound team arrived. Then they couldn't witness anything.
Anyway, so far he has had his TV and Cd player possessed by the police for being too loud. He got them back after a few weeks mind you, but since then (last year) no more noise. Bliss!
I still get a bit 'on edge' at times though. I hate silence now as i anticipate him starting another racket. It really is awful and gave me horrible anxiety.
Not sure what the system is where you live, but please please please persevere. Find out the number for your local anti social team. call them each and every time the noise occurs. I've also heard that some councils will give you sound recording equipment to record the noise from the neighbour.
I really feel for you. My daughter had all this chaotic noise from the age of 1-4. Almost every night she was woken up from his drunken yelling or smashing things against his wall. Everything just resonated up to our flat. I felt so so so guilty that my little girl's sleep was getting disrupted. And i felt appalled that the neighbour clearly didn't care. In fact, he tried to make a deal with me! "How about just a few nights a week for a party?" Emmm, children (and me!) need sleep 7 nights a week, not just a few...
Some people have absolutely no consideration for other people. i really really feel for you. Hopefully some action is taken against them soon.