' inflation expectations. We conduct a randomized controlled trial using the Bundesbank Online Panel Households. Participants are … to submit probabilistic inflation expectations. The results show that the vote is informative. Households revise their … is detrimental to coordinating household expectations. …

inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices … expectations reacted more strongly to global aggregate demand conditions embedded in oil prices. Within this framework we cannot … reject the hypothesis that expectations remained anchored …

intertemporal trade-off, not present under rational expectations: it is optimal to forego stabilizing the economy in the present in … actually has rational expectations is much smaller than if the central bank mistakenly assumes rational expectations when in … fact agents are learning. -- optimal monetary policy ; learning ; rational expectations …

optimality condition derived under rational expectations. This paper reports the results of simulations of a calibrated model … comparing Nominal GDP growth targeting with the optimal policy in an environment where public expectations are formed under … learning and the interest rate rule is a function of public expectations. If the policymaker does not have full information …

, in the sense that it understands and observes the process by which private sector inflation expectations are generated … accommodates private sector inflation expectations) is no longer constant across the disinflation, but becomes state …

agents have perfectly rational expectations, is unstable if in fact these agents follow standard adaptive learning rules …. This problem can be overcome if private expectations are observed and suitable incorporated into the policy maker's optimal … observed household and firm expectations …