The paper studies the dynamics of economic expectations in the EU member states over the period 01.1998 to 05.2013 with particular focus on consumer confidence, business climate indicators and inflation expectations. We reach the conclusion that expectations do not converge to a uniform value...

The study presents a critical review of the main schools of thought regarding the formation of economic expectations. The overview includes static and adaptive expectations, rational expectations, learning approaches, and heterogeneous agents and heterogeneous information approaches. Key...