Unique longitudinal probabilistic expectations data from the Berea Panel Study, which cover both the college and early post-college periods, are used to examine young adults' beliefs about their future incomes. We introduce a new measure of the ex post accuracy of beliefs, and two new approaches...

When designing household surveys, including surveys that measure consumption expenditure, numerous choices need to be made. Which survey mode should be used? Do recall questions or diaries provide more reliable expenditure data? How should the concept of a household be defined? How should the...

The main aim of this paper is to assess the validity of the life cycle model of consumption. In particular, we address an issue that has recently received much attention, especially in the macroeconomic literature: that of "excess sensitivity" of consumption growth to income growth. We do this...