Disagreement in inflation expectations observed from survey data varies systematically over time in a way that reflects the level and variance of current inflat
This paper documents five facts about inflation expectations in the euro area. First, individual inflation forecasts overreact to individual news. Second, the c
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring t
The NBER Macroeconomics Annual presents pioneering work in macroeconomics by leading academic researchers to an audience of public policymakers and the academic
Analyzing 50 years of inflation expectations data from several sources, we document substantial disagreement among both consumers and professional economists ab