Zahlungsmittelkosten für Verbraucher sind schwer zu ermitteln, werden international nicht harmonisiert erfasst und schwanken je nach Studienergebnis deutlich von Land zu Land. Sie fallen in vielfacher Form an, etwa als Gebühren für die Kontoführung, für Barabhebungen am Geldausgabeautomaten...

Zahlungsmittelkosten für Verbraucher sind schwer zu ermitteln, werden international nicht harmonisiert erfasst und schwanken je nach Studienergebnis deutlich von Land zu Land. Sie fallen in vielfacher Form an, etwa als Gebühren für die Kontoführung, für Barabhebungen am Geldausgabeautomaten...

This paper develops a theoretical framework to understand heterogeneity in inflation expectations. I integrate two mechanisms previously studied in isolation, exposure to salient prices and forecast confidence, within a Bayesian learning model. Empirically, I examine these mechanisms through the...

Verbraucherpolitik stellt ein sehr kleines Politikfeld dar und spielt in Deutschland eine eher untergeordnete Rolle, sowohl was Einflußmöglichkeiten, Institutionalisierungsgrad, Stellenzahl oder Budgetvolumen betrifft. Dabei übernimmt Verbraucherpolitik immer wieder Aufgabenstellungen, die im...

The gender gap in inflation expectations, women reporting systematically higher expectations in consumer surveys, has been attributed to traditional gender norms, and thus women’s greater exposure to volatile food prices. This overlooks a crucial factor: financial answer confidence. Using data...

We survey a representative sample of the U.S. population to understand stakeholders’ desire to see their firms exit Russia after the invasion of Ukraine. 61% of respondents think that firms should exit Russia, regardless of the consequences. Only 37% think that leaving Russia is a purely...

We provide a unified analysis of taxation and taxpayer education when individuals have an incomplete understanding of a complex tax system. The analysis is independent of whether income is earned legitimately, or by avoiding or evading taxes. In this sense, learning about tax minimization...

We examine how people's forecasts for oil or gasoline prices influence their forecasts for broader inflation. We find little evidence from two US household surveys that people over-react to their beliefs about gasoline prices when formulating their forecasts about inflation, with much of the...

With consumers increasingly questioning the role of business in creating social value, it is essential for most firms to address corporate responsibility in ways that go beyond the minimum legal requirement and to communicate their various societal contributions. However, corporate social...

We use an experiment to test whether consumers optimally acquire information on energy costs in appliance markets where, like many contexts, consumers are poorly informed and make mistakes despite freely available information. To test for optimal information acquisition we compare the average...

We use an experiment to test whether consumers optimally acquire information on energy costs in appliance markets where, like many contexts, consumers are poorly informed and make mistakes despite freely available information. To test for optimal information acquisition we compare the average...

We study how a monopolist's use of consumer data for price discrimination affects welfare. To answer this question, we develop a model of market segmentation subject to residual uncertainty. We fully characterize when data usage monotonically increases or decreases welfare or when the effect is...

Using surveys of households across thirteen countries, we study how much individuals would be willing to pay to eliminate business cycles. These direct estimates are much higher than traditional measures following Lucas (2003): on average, households would be prepared to sacrifice around 5-6% of...

"How large American retailers outgrew the capacity of government to regulate themThe United States is widely recognized as the quintessential consumer society, one where huge companies like Walmart and Amazon are famous for enticing customers with cheap goods and speedy delivery. Attention,...

When multiple forces potentially underlie discriminatory behavior, pinning down the precise sources becomes a challenge, making proposed policy solutions speculative. This study introduces an empirical approach, tightly linked to theory, to dissect two specific channels of discrimination:...

1. Introduction / Eda Sahin-Sengül and Serkan Kaya -- 2. Consumer ADR in the EU / Serkan Kaya and Eda Sahin-Sengül -- 3. Consumer ADR in the UK / Eda Sahin-Sengül and Serkan Kaya -- 4. Consumer ADR in Turkey / Serkan Kaya and Eda Sahin-Sengül -- 5. Consumer ADR in Chile / Rodrigo Momberg,...

Inflation expectations significantly influence macroeconomic dynamics, making them crucial for monetary policymakers. This chapter delves into the inflation expectations of consumers and firms. It begins by reviewing major data sources on consumer expectations, highlighting key findings that...

We survey a representative sample of the U.S. population to understand stakeholders’ desire to see their firms exit Russia after the invasion of Ukraine. 61% of respondents think that firms should exit Russia, regardless of the consequences. Only 37% think that leaving Russia is a purely...

Based on indirect utility theory, we introduce a novel methodology of measuring inflation expectations indirectly. This methodology starts at the individual level, asking consumers about the change in income required to buy the same amounts of goods and services one year ahead. Analytically, our...

Verbraucherinnen und Verbraucher können durch ihr Konsumverhalten auf die Märkte Einfluss nehmen – sei es durch die bewusste Wahl oder Ablehnung bestimmter Produkte und Konsummuster, sei es durch lautstarken Protest, z.B. in Demonstrationen gegen den Klimawandel. Doch wie weit reicht die...

Consumers' inflation expectations play a key role in the monetary transmission mechanism. As such, it is crucial for monetary policymakers to understand what they are and how they are formed. In this paper we introduce the (un)certainty channel as means to shed light on some of the more puzzling...

This policy brief discusses trends in consumer inflation uncertainty. Inflation uncertainty measures are from the Federal Reserve Bank of New York Survey of Consumer Expectations and from the Michigan Survey of Consumers

A recent literature considers the identification of heterogeneous demand and supply models via "quasi-experimental'' variation, as from instrumental variables. In this paper we establish nonparametric identification of differentiated products demand when one has "micro data'' linking...

Can monetary policy stimulate consumption through inflation expectations? We study how US consumers revise inflation expectations and planned consumption in response to monetary policy shocks using VAR models, where we identify exogenous policy shocks with interest rate surprises around FOMC...