response to the forecasts, extrapolate to expectations about their personal economic circumstances and adjust their consumption … behavior and stock purchases. Extrapolation to expectations about personal unemployment is driven by individuals with higher …

Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation … expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We provide preliminary evidence for … research has to ensure income, wealth effects, or intratemporal substitution channels cannot explain these results and ideally …

Unconventional fiscal policies incentivize households to accelerate consumption by generating future consumer price … study the causal effect of unconventional fiscal policies on consumption expenditure via the inflation-expectations channel … foreign households. Income or wealth effects do not appear to drive these results, and we do not find evidence of …

Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation … expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We exploit a unique natural … countries not exposed to the VAT shock. Income, wealth effects, or intratemporal substitution cannot explain these results …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … their consumption. …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced …