We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...

We conduct a survey experiment with a large, politically representative sample of U.S. consumers (5,205 participants) to study how perceptions of the U.S. Federal Reserve's (Fed) political stance shape macroeconomic expectations and trust in the Fed. The public is divided on the Fed's political...

We study how investors respond to inflation combining a customized survey experiment with trading data at a time of historically high inflation. Investors' beliefs about the stock return-inflation relation are very heterogeneous in the cross section and on average too optimistic. Moreover, many...

A growing literature uses now widely-available data on beliefs and expectations in the estimation of structural models. In this chapter, we review this literature, with an emphasis on models of individual and household behavior. We first show how expectations data have been used to relax strong...

Financial ties between drug companies and medical researchers are thought to bias studies published in medical journals. To enable readers to account for such bias, most medical journals require authors to disclose potential conflicts of interest. We examine whether disclosure reduces article...

This paper provides the first causal evidence on how occupational wage inequality affects the labor movement, using three complementary research designs: a vignette experiment with union organizers, an information intervention during the 2023 Writers Guild of America strike, and a natural...

This paper analyzes the design of tests to distinguish human from artificial intelligence through the lens of information design. We identify a fundamental asymmetry: while AI systems can strategically underperform to mimic human limitations, they cannot overperform beyond their capabilities....

We develop a model of strategic information provision where politicians choose how to allocate limited disclosure across multiple policy dimensions. Citizens are heterogeneous statistical learners who interpret data differently, following Liang (2021). Our key insight: spreading information...

As central banks, including the European Central Bank (ECB), adopt climate-related responsibilities, gauging public support becomes essential. Drawing on a June 2023 Bundesbank household survey, we find that 69% of households report increased trust in the ECB due to its climate actions, valuing...

Amid growing interest in industrial policy, we develop a model exploring the tension between market-driven information discovery and policymakers' career incentives. While market-based information discovery can help address informational barriers faced by policymakers, career incentives may lead...