Based on the German Socio-economic Panel (SOEP), we show that household consumption drops and saving rises … significantly within four years after a child moves out of a household. Per capita consumption of parents is approximately leveled … calibrated life-cycle models assuming a smoothing of per capita consumption for parents with children in the household …

We use survey evidence on reported spending in hypothetical energy price shock scenarios to study novel features of the … several nonlinearities depending on the sign and magnitude of the energy price shock that are economically relevant, including … more effective in supporting non-energy consumption than the general VAT reduction on energy prices. …

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 …