signals and, as a consequence, may increase uncertainty and amplify the reaction of expectations to macroeconomic news …. However, when the increase in precision of public information is sufficiently large, uncertainty is unambiguously reduced. …

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 selective …

create uncertainty in how people perceive expert opinions, even when broad consensus exists, we elicited trust in Covid-19 … were gradually rolled out. We find that the treatment recalibrates beliefs and leads to a lasting and stable increase in …