luxury goods. Moreover, uncertainty reduces household propensity to invest in mutual funds. These results support the notion … that macroeconomic uncertainty can impact household decisions and have large negative effects on economic outcomes …

luxury goods. Moreover, uncertainty reduces household propensity to invest in mutual funds. These results support the notion … that macroeconomic uncertainty can impact household decisions and have large negative effects on economic outcomes …

This paper introduces a novel measure of consumer inflation expectations: We elicit and combine inflation forecasts … across categories of personal consumption expenditure to form an aggregated measure of inflation expectations. Drawing on … 2021 inflation surge. Conventionally elicited inflation expectations consistently exceed aggregated measures constructed …

consumer response behavior and the corresponding inflation expectations. To this end, survey participants from a representative … asking for their subjective distribution for inflation over the next 12 months. As part of the experiment, two competing … inflation rate. In addition, I compare the responses to a question asking for consumers’ probabilistic beliefs about future …