This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment … not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … life cycle, a tax relief increases consumption on average by about 22% of the tax rebate. A tax increase causes consumption …

is quite striking: consumption-led growth - either in terms of private or public or total consumption - leads to slower … of the past growth period (lag window). It is only that the more often the past is characterized by consumption …

), translate into larger effects of consumption. This result is more pronounced for contractionary shocks, in line with …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house … portfolios, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the … heterogeneity in household finances implies that responses of consumption to changes in the real interest rate and in house prices …

GDP, private consumption, real wage and investment are all positive, which is in accord with the New Keynesian model …