particular violation of the Full Information Rational Expectations hypothesis that requires explanation. In contrast, minor …

attention to changes in their input costs, which leads to a flatter Phillips curve and more anchored inflation expectations …

demand. The former learning effect, combined with the latter real-options effect, adversely affect firms' entry decisions and …

prevalent in early and late stages of a learning process, whereas reason governs decisions in intermediate stages. Examples …

when solved under the assumptions of Rational Expectations and learning. This information serves as an additional moment … inflation expectations. -- survey data ; learning models ; inflation expectations ; Bayesian econometrics …Do survey data on inflation expectations contain useful information for estimating macroeconomic models? I address this …

local interactions. Despite the fact that the rational expectations equilibrium (REE) is characterized by a simple pricing …

spikes in inflation may become ‘baked in’ to inflation expectations, but only among those with the most positive subjective …

effect of the coronavirus crisis on household income and retirement wealth, households’ expectations about the recovery, and …, which are stronger for younger households and those in lower income and wealth quintiles. Expectations about household … upward adjustments in expectations about household debt, desired working hours, and retirement age. Finally, respondents …

How do households adjust their spending behavior in response to changes in home price expectations? We conduct a field … experiment with a sample of Americans that links survey data on home price expectations to actual spending behaviour as measured … in a rich home-scanner dataset. In the experiment we exogenously vary households' home price expectations by providing …