A growing literature uses now widely-available data on beliefs and expectations in the estimation of structural models … show how expectations data have been used to relax strong assumptions about beliefs and outline how they can be used in … of expectations data in the estimation of structural models. We conclude by noting directions for future research …

otherwise well-informed about inflation and asset returns. Consequently, whereas exogenous shifts in inflation expectations do … not impact return expectations, information on past returns during periods of high inflation leads to negative updating … about the perceived stock-return impact of inflation, which feeds into return expectations and subsequent actual trading …

the 2000s boom was plausibly driven by exuberant expectations, the boom of the 2020s more likely resulted from a …

Using surveys of firms around the world, we review existing evidence on how firms form their macroeconomic expectations …-run and long-run inflation expectations jointly and by similar amounts. Fourth, firms in economies with a history of low and … environments. Fifth, firms form expectations about inflation and the real economy jointly, but the way in which they do can differ …