We document and evaluate how businesses are reacting to the COVID-19 crisis through
August 2020. First, on net, firms see the shock (thus far) largely as a demand rather than …

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 …

Abstract We survey New Zealand firms and document novel facts about their
macroeconomic beliefs. There is widespread dispersion in beliefs about past and future …

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 …

Firms' expectations play a central role in modern macroeconomic models, but little is known
empirically about them. Using panel data on manufacturing firms' expectations about prices …

We propose a novel, survey-based measure of nominal marginal cost expectations held by
business decision makers to track building inflationary pressures and augment the existing …

This paper investigates the effect of quantitative easing (QE) and other unconventional
monetary policies on price and wage growth expectations of UK manufacturing firms. To …

On what do firms base their expectations about future inflation? We investigate this by
exploiting the Survey of Inflation and Growth Expectations carried out by Banca d'Italia and Il …

This paper estimates different versions of the stylized New Keynesian model of the Polish
economy, in which alternative measures of inflation expectations are used, that is …