of imposing any specific form of expectations formation, di-rect measures, ie Consensus Economics survey data are used to … proxy economic agents’ inflation expecta-tions. According to the results, the New Classical Phillips curve has satisfactory … forward-looking, and inflation cannot instantaneously adjust to changes in expecta-tions. Consequently, even allowing for …

by growth expectations. Adaptive learning dynamics determine the country-specific short-run transition paths. The …

What is the impact of surprise and anticipated policy changes when agents form expectations using adaptive learning … rather than rational expectations? We examine this issue using the standard stochastic real business cycle model with lump …-shaped response, and tend to be prominently characterized by oscillations not present under rational expectations. These fluctuations …

uncertainty is closely related to the output growth uncertainty. In forming expectations, individual forecasters seem to behave …

. Revisions of expectations generally lead to larger forecast errors. Subjective uncertainty measures, which are available at the …

This paper examines aggregated inflation expectations based on the ECB Survey of Professional Forecasters (ECB SPF). We … not cause systematic distortions to aggregated survey information. However, micro level analysis of expectations would …

form expectations using adaptive learning rather than rational expectations (RE). The output multipliers for government …

This paper shows that the Ricardian Equivalence proposition can continue to hold when expectations are not rational and … are instead formed using adaptive learning rules. In temporary equilibrium, with given expectations, Ricardian Equivalence … holds under the standard conditions for its validity under rational expectations. Furthermore, Ricardian Equivalence holds …