To conduct monetary policy, central banks around the world increasingly rely on measures
of public inflation expectations. In this article, we review findings from an ongoing initiative at …

This paper studies consumers' inflation expectations using micro-level data from the
University of Michigan's Surveys of Consumers. It shows that beyond the well-established …

Using the panel component of the Michigan Survey of Consumers, we estimate a learning
model of inflation expectations, allowing for heterogeneous use of private information and …

This paper exploits a very large multi-country survey of consumers to investigate empirically
the relationship between inflation expectations and consumer spending. We document that …

We form a belief-based equity market sentiment index, BBS, from investors' survey-based
expectations of future aggregate stock returns. BBS spans 54 years, accommodates belief …

Using the panel component of the Michigan Survey of Consumers, we show that individuals,
in particular women and ethnic minorities, are highly heterogeneous in their expectations of …

Inflation expectations play a significant role in determining inflation outcomes, through price
and wage-setting behaviour, and their accurate measurement is of key importance to …

Cross-country data reveal that the per capita incomes of the richest countries exceed those
of the poorest countries by a factor of thirty-five. We formalize a model with embodied …