An apparent disconnect has taken place between inflation and economic activity in the US over the last 25 years, with … price inflation remaining remarkably stable in spite of large fluctuations in the output gap and other measures of economic … implications for demand and supply curve slopes. Equipped with New Keynesian theory and estimated SVAR models, we decompose the …

non-managers’ expectations and perceptions of inflation and unemployment. By and large, managers and non-managers exhibit … similar average inflation and unemployment expectations as well as similar levels of disagreement and sensitivity to … information provided in a randomized control trial. Inflation expectations of managers frequently affect their economic decisions …

. This paper continues this strand of research by examining the role survey expectations play in the inflation process and … reports three principal findings. One, short-run inflation expectations appear to play a significant role in explaining U ….S. inflation over the past 20-25 years. Two, long-run expectations generally do not appear to have a direct influence on U …