The role of stickiness, extrapolation and past consensus forecasts in macroeconomic expectations

DOI10.1016/J.JEDC.2023.104638MaRDI QIDQ6109937zbMATH OpenOpenAlexFDO

Authors Tim Hagenhoff, Joep Lustenhouwer

Publication date 4 July 2023

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL http://archiv.ub.uni-heidelberg.de/volltextserver/28722/1/Hagenhoff_Lustenhouwer_2020_dp686.pdf

zbMATH Keywords

consensus forecastsexpectation formationextrapolationsticky expectationssurvey data

Mathematics Subject Classification ID

Statistical methods; economic indices and measures (91B82) Economic time series analysis (91B84)

Recommendations

• Macroeconomic Expectations of Households and Professional Forecasters
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Cites work

• Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve
• Theories of Learning in Games and Heterogeneity Bias

Cited in

(5)

• Analysis of a panel of UK macroeconomic forecasts
• Macroeconomic Expectations of Households and Professional Forecasters
• Irrationality or Efficiency of Macroeconomic Survey Forecasts? Implications from the Anchoring Bias Test*
• Interest rate changes and the cross-section of global equity returns
• Sticky information and model uncertainty in survey data on inflation expectations

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