Simple life cycle and permanent income hypotheses imply that changes in consumption should be unforecastable. Rational … forward-looking agents ought to smooth consumption over the life cycle and exhaust the asset stock accumulated during the … review of literature focuses particularly on the life cycle issues of consumption behaviour. …

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 …

I investigate how households and firms adjust their inflation expectations when experiencing an increase in their … households increase their inflation expectations when they personally experience an increase in their electricity prices. This … result is inconsistent with full-information rational expectations but can be rationalized by households extrapolating their …

. The outcome of such surveys crucially depends on the expansion factors attached to the responses of individual firms. In …

We study first-order and higher-order inflation expectations of German households and firms elicited from surveys. The …-information models with infinite regress. Moreover, since the elicited data is identical for households and firms, it also allows … this relation is mostly identical between households and firms in our data, we identify differences to previously elicited …