A popular interpretation of the Rational Expectations/Efficient Markets hypothesis states that, if the hypothesis holds …

Using a new survey of firms' inflation expectations in France, we provide novel evidence about the measurement and … formation of inflation expectations on the part of firms. First, French firms report inflation expectations with a smaller, but … the wording of questions matters for the measurement of firms' inflation expectations. Third, we document whether and how …

Introducing a new survey of U.S. firms' inflation expectations, we document key stylized facts involving what U ….S. firms know and expect about inflation and monetary policy. The resulting time series of firms' inflation expectations … "anchored" expectations, the inflation expectations of U.S. managers appear far from anchored, much like those of households …

presented is capable of incorporating the revision of expectations of private agents through Bayesian updating, to create a …

expected future inflation. With rational inflation expectations, the economy does not generate persistent deviations of output … considerable persistence and regular cyclical patterns. Such behavior emerges because subjects’ inflation expectations fail to be … captured by rational expectations functions. Instead, a Restricted Perceptions Equilibrium (RPE), which assumes that agents use …

, expectations of higher future productivity raise the demand for new vintages of capital relative to old capital. Capital …

Subjective expectations about future policy play an important role in individuals’ welfare. We examine how workers …’ expectations about pension reform vary with proximity to reforms, information cost, and aggregate information acquisition. We …-level representative survey data on expectations about future reforms and country-level data on online search. We find: (1) Expectations …