We document novel stylized facts regarding updating of households' inflation expectations. Using two randomized controlled trials fielded in the US and Germany where signals in the form of professionals' inflation forecasts have different perceived levels of precision, we show that households...

We document novel stylized facts regarding updating of households’ inflation expectations. Using two randomized controlled trials fielded in the US and Germany where signals in the form of professionals’ inflation forecasts have different perceived levels of precision, we show that...

The Managing Director welcomes the Independent Evaluation Office’s assessment of IMF fiscal policy advice over the past 15 years. The evaluation highlights the Fund’s evolution from a narrow focus on debt sustainability to a more balanced framework that integrates output stabilization,...