effect significantly varies among different consumption durability types and is amplified in case of low levels of liquid …

the German Socio-Economic Panel, we estimate the effect of reference consumption, defined as the consumption level of all … households who are perceived to be richer, on household savings and consumption. When controlling for own income as well as … unobserved individual and local area heterogeneity, an increase in reference consumption of 100 euros leads to an increase in …

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 …