tool to identify and characterize expectations of business cycle phases for Germany, Spain, the Euro Area, and the European … more sensitive to international disturbances. Our results also reveal a lack of synchronization of the expectations across …

This paper investigates the effects of inflation news coverage on market-based inflation expectations and outcomes in … regarding specific topics, exerts a significant influence on inflation compensation, expectations, and risk premiums. We observe … contributes to the understanding of media influence on financial markets, specifically in shaping inflation expectations. …

from individual expectations. Subjects have no information about underlying market equilibrium equations, but can learn by … stable treatment, rational expectations (RE) yield a good description of observed aggregate price fluctuations: prices remain …

should intervene in the business cycle. Following Ramey (2011b), we include expectations held by consumers and firms into the … findings also underscore the need to account for expectations, as failing to do so leads to significant misinterpretation of …

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

expectations and uncertainty, albeit to a much lesser extent than the domestic policy changes. …

expectations and uncertainty, albeit to a much lesser extent than the domestic policy changes. …

This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean …-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of …

substantially. We document this fact by comparing an easy-to-grasp expectations-based policy, unconventional fiscal policy, with a … consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …

We assess how survey expectations impact production and pricing decisions on the basis of a large panel of German firms …. We identify the causal effect of expectations by matching firms with the same fundamentals but different views about the …