Palmqvist, Stefan; Bryan, Michael F. - Society for Computational Economics - SCE - 2005
This paper considers the evidence of “near-rationality†in household inflation expectations, as described by Akerlof … ADP to detailed survey data on household inflation expectations for the U.S. and Sweden, two countries where the existence …, support the specific form of near-rationality suggested by ADP. However, we also show that inflation expectations are not …