We assess the prospects for central banks using inflation expectations as a policy tool for
stabilization purposes. We review recent work on how expectations of agents are formed …

Using randomized control trials (RCTs) applied over time in different countries, we study
whether the economic environment affects how agents learn from new information. We show …

Consumers rely on the price changes of goods in their grocery bundles when forming
expectations about aggregate inflation. We use micro data that uniquely match individual …

We use a unique design feature of a survey of Italian firms to study the causal effect of
inflation expectations on firms' economic decisions. In the survey, a randomly chosen subset …

Introducing a new survey of US firms' inflation expectations, we document key stylized facts
involving what US firms know and expect about inflation and monetary policy. The resulting …

We document how supply-chain pressures, household inflation expectations, and firm
pricing power interacted to induce the pandemic-era surge in consumer price inflation in the …

Using surveys of German firms and households, we document novel stylized facts about the
extent of information frictions among the two groups. First, firms' expectations about …

Despite mounting central bank concerns over cryptocurrency adoption, there is little
evidence that monetary policy compels national currency holders to consider decentralized …

This paper studies how competition affects firms' expectations in a new dynamic general
equilibrium model with rational inattention and oligopolistic competition where firms acquire …

Using a new survey of firms' inflation expectations in France, we provide novel evidence
about the measurement and formation of inflation expectations on the part of firms. First …