Professional forecasters' long-run inflation expectations overreact to news and exhibit persistent, predictable biases in forecast errors. A model incorporating overconfidence in private information and a persistent expectations bias-which generates persistent forecast errors across most...

1.2.1. Innovation Comes in Different Forms: All Forms Matter1.2.2. A Perception of Risk: Entrepreneurs vs. Professional Managers; 1.3. Financialisation has Interrupted Business Credit Mechanisms; 1.4. Capitalism and the Entrepreneur; 1.5. Historic Events: Our Window to the Future; 1.6. The United...