particular violation of the Full Information Rational Expectations hypothesis that requires explanation. In contrast, minor …

particular violation of the Full Information Rational Expectations hypothesis that requires explanation. In contrast, minor …

-level forecasts or household expectations. As an application, we employ a panel of Greek manufacturing firms and quantify firms … balance sheets. The method can be applied to a wide range of panel datasets, including qualitative surveys on firm …

particular violation of the Full Information Rational Expectations hypothesis that requires explanation. In contrast, minor …

predictable and display auto-correlation. This result is a particular violation of the Full Information Rational Expectations …

Based on a new survey question in a large and representative panel of German firms, this paper introduces a novel … expectations and document a strong negative relationship. However, the link is much weaker in bad times, since uncertainty is then … persistently high - even when expectations are favorable. I continue by investigating the relative importance of uncertainty and …

Macroeconomic expectations of various economic agents are characterized by substantial cross-sectional heterogeneity …. In this paper, we focus on expectations heterogeneity among professional forecasters. We first present stylized facts and … discuss theoretical explanations for heterogeneous expectations. We then provide an overview of the empirical evidence …

to a selected data set on survey-based expectations from the rich EU business and consumer survey database for twelve …. -- Expectation formation ; survey-based expectations ; opinion dynamics ; Fokker-Planck equation ; forecasting …

tool to identify and characterize expectations of business cycle phases for Germany, Spain, the Euro Area, and the European … more sensitive to international disturbances. Our results also reveal a lack of synchronization of the expectations across …