Dräger, Lena; Lamla, Michael J.; Pfajfar, Damjan - Fachbereich Sozialökonomie, Universität Hamburg - 2014
Using the microdata of the Michigan Survey of Consumers, we evaluate whether U.S. consumers form macroeconomic expectations consistent with different economic concepts, namely the Phillips curve, the Taylor rule and the Income Fisher equation. We observe that 50% of the surveyed population have...