What is the impact of surprise and anticipated policy changes when agents form expectations using adaptive learning … rather than rational expectations? We examine this issue using the standard stochastic real business cycle model with lump …-shaped response, and tend to be prominently characterized by oscillations not present under rational expectations. These fluctuations …

not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … Ricardian proposition. Our results show dynamic effects; taxation inuences consumption beyond the current period. …

accounting, auditing, tax returns and consequent quagmire of all tax related cases.Salient features of this new tax system....................Taxation …

exceeds the growth rate. This is done by considering an economy in steady state where all agents hold "Barro expectations … unchanged. In this scenario, a change in the mode of taxation affects the present value of disposable income in the private … sector. This violates their Barro expectations. …

This note identifies a severe mistake in my article “Unexpected Consequences of Ricardian Expectations” that appeard in …

change in expectations is documented using a novel source of information available in Google Trends, among other sources. It … isolate the effect of taxation. The paper provides an explanation for the unusual trajectories of investment and GDP of the …

expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We provide preliminary evidence for … households increased their inflation expectations and willingness to purchase durables before the increase in VAT. Future …