For Germany and Switzerland, unlike for the US, data from periodic surveys of producing firms exist. These surveys cover questions regarding price setting and output decisions that are relevant for the study of inflation dynamics. The New Keynesian Phillips curve, in particular, holds that...

This paper presents an empirically based model of rational expectations. Bottom-up inflation expectations are computed using data from a once-only laboratory-based survey. To capture cognition under habitual conditions (Kahneman, 2003) we elicit subjects' responses to stylized time series...

As one of the first texts to take a behavioral approach to macroeconomic expectations, this book introduces a new way of doing economics. Rötheli uses cognitive psychology in a bottom-up method of modeling macroeconomic expectations. His research is based on laboratory experiments and...

This study applies the concept of pattern-based inflation expectations to the measurement of U.S. real rates of interest. The measure of expected inflation builds on a laboratory-based survey of expectations. We show how our measures of real interest rates differ from measures based on the...

"The notion that expectations play a key role in economic decision making is a very old one. Over the past 100 years, major advances in the application of this insight in the formulation of economic models have been made in various subfields of economics. The concept of extrapolation, the idea...

We study the historical trends in the coverage of the related topics growth and stability in the field of macroeconomics. It is argued that over the past 25 years research on growth has quantitatively dominated research on output variability. The article seeks to make a contribution to an...