Evaluating a new survey dataset of German consumers, we test whether individual consumption plans are formed according to an Euler equation derived from consumption life-cycle models. Estimating several consumption Euler equations, the results are mostly in line with the theory: We find evidence...

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...

Utilizing the microdata from a first cross-section of a new household survey at the University of Hamburg, we analyze if consumers respond to their own inflation expectations and economic news that they have observed recently when they plan to adjust their savings portfolio in the next year. We...