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Do macroeconomic shocks affect intuitive inflation forecasting? : an experimental investigation
Deversi, Marvin - 2014
expectations. Due to the shocks 69% of participants are found to switch their forecasting rule. After the negative supply shock … for a negativity bias. As a main result, macroeconomic shocks do alter the way experimental participants form intuitive … inflation forecasts, however, to what extent depends on the shocks’ characteristics. …
Persistent link: https://www.econbiz.de/10010437484
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Do Macroeconomic Shocks Affect Intuitive Inflation Forecasting? An Experimental Investigation
Deversi, Marvin - 2014
expectations. Due to the shocks 69% of participants are found to switch their forecasting rule. After the negative supply shock … for a negativity bias. As a main result, macroeconomic shocks do alter the way experimental participants form intuitive … inflation forecasts, however, to what extent depends on the shocks' characteristics. …
Persistent link: https://www.econbiz.de/10010435328
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As if or What? – Expectations and Optimization in a Simple Macroeconomic Environment
Roos, Michael W. M.; Luhan, Wolfgang J. - 2008
In this paper we report the results of a laboratory experiment, in which we observed the behavior of agents in a simple macroeconomic setting. The structure of the economy was only partially known to the players which is a realistic feature of our experiment. We investigate whether subjects...
Persistent link: https://www.econbiz.de/10010264726
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As if or What? – Expectations and Optimization in a Simple Macroeconomic Environment
Roos, Michael W.M.; Luhan, Wolfgang J. - Rheinisch-Westfälisches Institut für … - 2008
In this paper we report the results of a laboratory experiment, in which we observed the behavior of agents in a simple macroeconomic setting. The structure of the economy was only partially known to the players which is a realistic feature of our experiment. We investigate whether subjects...
Persistent link: https://www.econbiz.de/10005738726
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Individual Expectations and Aggregate Macro Behavior
Assenza, Tiziana; Heemeijer, Peter; Hommes, Cars; … - 2013
The way in which individual expectations shape aggregate macroeconomic variables is crucial for the transmission and effectiveness of monetary policy. We study the individual expectations formation process and the interaction with monetary policy, within a standard New Keynesian model, by means...
Persistent link: https://www.econbiz.de/10010326142
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Equal Splits or Product Prices: An Experiment
Holm, Håkan J.; Svensson, Emma - 2013
of this solution in bargaining over real goods. The paper shows that there is notable heterogeneity among subjects with …
Persistent link: https://www.econbiz.de/10013208577
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Individual Expectations and Aggregate Macro Behavior
Assenza, Tiziana; Heemeijer, Peter; Hommes, Cars; … - Tinbergen Instituut - 2013
The way in which individual expectations shape aggregate macroeconomic variables is crucial for the transmission and effectiveness of monetary policy. We study the individual expectations formation process and the interaction with monetary policy, within a standard New Keynesian model, by means...
Persistent link: https://www.econbiz.de/10011257145
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Equal Splits or Product Prices: An Experiment
Holm, Håkan J.; Svensson, Emma - Nationalekonomiska Institutionen, Ekonomihögskolan - 2011
of this solution in bargaining over real goods. The paper shows that there is notable heterogeneity among subjects with …
Persistent link: https://www.econbiz.de/10009020162
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Individual expectations and aggregate macro behavior
Assenza, Tiziana; Heemeijer, Peter; Hommes, Cars H.; … - 2013
Persistent link: https://www.econbiz.de/10010191431
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Analyzing Inflation Expectations and the Impact of Target Credibility in Monetary Policy
Herzog, Bodo - 2012
This paper provides new evidence on the formation and anchoring process of expectations. We conduct a game experiment and measure the convergence of inflation expectations as well as the impact of credible targets in central banking. In addition, we evaluate the idiosyncratic variables of our...
Persistent link: https://www.econbiz.de/10013114110