We survey samples of German firms and households to document novel stylized facts about the extent of information … the distance from expert forecasts varies more across groups of households than across groups of firms. Third, firms … frictions among the two groups. First, firms' expectations about macroeconomic variables are closer to expert forecasts and less …

We survey samples of German firms and households to document novel stylized facts about the extent of information … the distance from expert forecasts varies more across groups of households than across groups of firms. Third, firms … frictions among the two groups. First, firms' expectations about macroeconomic variables are closer to expert forecasts and less …

We use surveys of German households and firms to study the extent of information frictions among different groups of … with expert forecasts and less dispersed than households'. Moreover, firms update their policy rate expectations … economic agents. Firms' expectations about the central bank policy rate, inflation, and aggregate unemployment are more aligned …

information frictions among firms and households. First, firms’ expectations about the central bank policy rate, inflation, and … substantially more heterogeneity in information frictions within households than within firms. Third, consistent with firms having … aggregate unemployment are more aligned with expert forecasts and less dispersed than households’. Second, there is …

information frictions among firms and households. First, firms’ expectations about the central bank policy rate, inflation, and … substantially more heterogeneity in information frictions within households than within firms. Third, consistent with firms having … aggregate unemployment are more aligned with expert forecasts and less dispersed than households’. Second, there is …

information frictions among firms and households.First, firms’ expectations about the central bank policy rate, inflation, and … heterogeneity in information frictionswithin households than within firms. Third, consistent with firms having strongerpriors, they … aggregateunemployment are more aligned with expert forecasts and less dispersed than households’. Second, there is substantially more …

I construct a novel measure of household uncertainty based on survey data for European countries. I show that household … uncertainty shocks do not universally behave like negative demand shocks. Notably, household uncertainty shocks are largely … average markups along with monetary policy play a role in the transmission of household uncertainty to inflation. These …