"Prominent economic theories have emphasized the role of commonly held perceptions and expectations for determining macroeconomic outcomes. A key empirical question is how such collectively held beliefs are formed. We use the FIFA World Cup 2006 as a natural experiment. We provide direct...

Thirty-five years of previously unstudied survey data are analyzed to determine how the American public evaluates the health of the macroeconomy. Survey responses are multi-dimensional, distinct from indexes of “consumer sentiment,” and based mostly on genuine perceptions of economic...

Prominent economic theories have emphasized the role of commonly held perceptions and expectations for determining macroeconomic outcomes. A key empirical question is how such collectively held beliefs are formed. We use the FIFA World Cup 2006 as a natural experiment. We provide direct evidence...