Maximum likelihood estimation of discretely observed diffusion processes is mostly hampered by the lack of a closed … for the estimation of a joint system of short-run and medium run investor sentiment and asset price dynamics using German …

minorities, are highly heterogeneous in their expectations of inflation. We estimate a model of inflation expectations based on … outperforms existing models of inflation expectations in explaining the heterogeneity in the data. We find that women, ethnic … update their expectations. In addition, we show that personal income forecasts are positively related to subjective inflation …