consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …

. These results highlight how the heterogeneity in contract design and household wealth affects the monetary policy pass-through … unique panel dataset of household's credit and debit card spending, ATM withdrawals, financial investments into risky assets …, households increase consumption by 2,095 rupees (30 USD) and risky investments by 20,728 rupees (300 USD) after the expiry of …

theoretically and empirically that higher in ation expectations increase households' consumption. We then design a difference …

to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity … households when the effect on household income is partly in the future. …

household debt. Using an original loan-level dataset covering the universe of UK mortgages, we assess the effect of monetary … shocks on aggregate consumption by exploiting time variation in a measure of the proportion of households close to their … contrast, we find no evidence that the average level of borrowing relative-to-income of the household sector affects the …

from the assumption of a full insurance steady state. …

How does household heterogeneity affect the transmission of an energy price shock? What are the implications for … constraints are severe. Finally, the contractionary effect of an energy price shock on demand cannot be generalized to alternate … supply shocks, as the specific nature of the supply shock affects how resources are redistributed in the economy …

consumption inequality, in addition to stabilizing output gaps and inflation. The planner does so both by reducing income risk … faced by households, and by reducing the pass-through from income to consumption risk, trading off the benefits of lower …

Unconventional fiscal policies incentivize households to accelerate consumption by generating future consumer price … study the causal effect of unconventional fiscal policies on consumption expenditure via the inflation-expectations channel … (VAT) effective in 2007. This shock increased German households' inflation expectations during 2006, as well as actual …