We survey samples of German firms and households to document novel stylized facts about the extent of information frictions among the two groups. First, firms' expectations about macroeconomic variables are closer to expert forecasts and less dispersed than households', consistent with higher...

We survey samples of German firms and households to document novel stylized facts about the extent of information frictions among the two groups. First, firms' expectations about macroeconomic variables are closer to expert forecasts and less dispersed than households', consistent with higher...

We use surveys of German households and firms to study the extent of information frictions among different groups of economic agents. Firms' expectations about the central bank policy rate, inflation, and aggregate unemployment are more aligned with expert forecasts and less dispersed than...

Attention to the economy plays a key role in canonical macro models, yet its empirical properties are not well understood. We collect novel measures of attention to the economy based on open-ended survey questions. Our measures are included in tailored panel surveys of German firms and...

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...

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...