• Do You Know That I Know That You Know…? Higher-Order Beliefs in Survey Data

      Kumar, S; Coibion, O; Gorodnichenko, Y; Ryngaert, J (Oxford University Press (OUP), 2021)
      We implement a new survey of firms, focusing on their higher-order macroeconomic expectations. The survey provides a novel set of stylized facts regarding the relationship between first-order and higher-order expectations ...
    • Inflation Expectations As a Policy Tool?

      Coibion, O; Gorodnichenko, Y; Kumar, S; Pedemonte, M (Elsevier, 2020)
      We assess the prospects for central banks using inflation expectations as a policy tool for stabilization purposes. We review recent work on how expectations of agents are formed and how they affect their economic decisions. ...