We use narrative monetary policy shocks and local projections to estimate the impact of monetary policy on consumption and investment. We use granular data to investigate how the response varies across consumption categories, investment types, and sectors. Our findings indicate that both...

We study how individuals update their beliefs in the presence of competing data-generating processes, or models, that could explain observed data. Through experiments, we identify the weights participants assign to different models and find that the most common updating rule gives full weight to...

Background: Extensive research highlights the economic benefits of collaboration among parcel delivery service providers, yet mutually advantageous cooperative arrangements remain limited in Hungary's online shopping sector. Service providers typically prefer to operate independently rather than...