Bildung von Inflationserwartungen und Informationsübertragung auf Haushaltserwartungen: Trägheit, Agenda-Setzung und Unsicherheit

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The research project aims firstly to analyse inflation expectation formation of several groups of agents with primarily focusing on professional forecasters and households. The fundamental theoretical models in the area include Carroll (2003) and Mankiw and Reis (2002, 2003). Secondly, the transmission of news to households and the role of the news environment is analysed under the framework of “Agenda setting”. This aims to deliver further microfoundations for sticky information models. Thirdly, the relevance of sticky information models for the explanation of macroeconomic dynamics using the dynamic stochastic general equilibrium (DSGE) framework as in Mankiw and Reis (2007) is further explored. Special emphasis is given to model uncertainty along the lines of Hansen and Sargent (2007).