measure beliefs about the effects of macroeconomic shocks on unemployment and inflation, providing respondents with identical …,500 US households and 1,500 experts, beliefs are widely dispersed, even about the directional effects of shocks, and there … are large differences in average beliefs between households and experts. Part of this disagreement seems to arise from …

We provide evidence on the dynamics, drivers, and consequences of attention to the macroeconomy using tailored panel … surveys of German firms and households. Draw-ing on novel measures of attention based on open-ended questions collected before … and during a historic shock to inflation, we document three sets of results: First, at-tention to the macroeconomy is …

dispersed beliefs about past and future exchange rate realizations. Similarly, within the two samples, acquisition of exchange …

exposure to aggregate fluctuations, which may distort their beliefs about the benefits of acquiring macroeconomic information. …

counterfactual expectation adjustments. Guided by the model, we conduct experiments with representative samples of the US population …

experts. Moreover, narratives about the drivers of the inflation increase are strongly correlated with beliefs about its …

Workers wrongly anchor their beliefs about outside options on their current wage. In particular, low-paid workers … underestimate wages elsewhere. We document this anchoring bias by eliciting workers' beliefs in a representative survey in Germany … particularly pronounced among workers in low-wage firms. If workers had correct beliefs, at least 10% of jobs, concentrated in low …

We study the long-run effects of contact with individuals from other regions in early adulthood on preferences, beliefs …