Handbook of Economic Expectations

Provides a comprehensive discussion on expectations data in both micro and macro-economic models

Ruediger Bachmann (Edited by), Giorgio Topa (Edited by), Wilbert van der Klaauw (Edited by)

9780128229279, Elsevier Science

Paperback, published 8 November 2022

874 pages
23.5 x 19 x 5.3 cm, 1.79 kg

Handbook of Economic Expectations discusses the state-of-the-art in the collection, study and use of expectations data in economics, including the modelling of expectations formation and updating, as well as open questions and directions for future research. The book spans a broad range of fields, approaches and applications using data on subjective expectations that allows us to make progress on fundamental questions around the formation and updating of expectations by economic agents and their information sets. The information included will help us study heterogeneity and potential biases in expectations and analyze impacts on behavior and decision-making under uncertainty.

I. Expectations Elicitation
1. Household surveys and probabilistic questions
2. Firm surveys
3. Surveys of professionals
4. Expectations in lab experiments
5. Field experiments in surveys
6. Market data

II. Expectations as Data
7. Inflation expectations
8. Housing market expectations
9. Expectations in education
10. Expectations in development
11. Expectations of older households (retirement, demographics)
12. Expectations of financial market participants
13. Expectations of firms about macroeconomic variables
14. Expectations of firms about their own variables

III. Expectations Data and Theory
15. Expectations data, term structure and monetary policy
16. Expectations data and DSGE models
17. Expectations data in structural micro models
18. Expectations data and asset pricing
19. Expectations data, labor market and job search

IV. Theory of Expectations
20. Sentiment and confidence in macro models
21. Expectations in incomplete market models
22. Heterogeneous beliefs
23. Ambiguity and Uncertainty
24. Learning

V. Open Issues
26. The Epidemiology of Expectations and the Media
27. Neuroeconomics and Expectations
28. Health Expectations

Subject Areas: Data capture & analysis [UNC], Business mathematics & systems [KJQ], Economic theory & philosophy [KCA]