This paper reviews the recent development and new findings of the literature on learning-to-
forecast experiments (LtFEs). In general, the stylized finding in the typical LtFEs, namely the …

We construct an index of long-term expected earnings growth for S&P 500 firms and show
that it has remarkable power to jointly predict future errors in expectations and stock returns …

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 …

Using survey data on French households over the 2004–2018 period, we provide new
evidence on the role of households' inflation expectations for durable spending decisions. A …

Our understanding of monetary policy is complicated by an indeterminacy problem: the
same path for the nominal interest rate is consistent with multiple equilibrium paths for …

We incorporate diagnostic expectations into a workhorse neoclassical business cycle model
with heterogeneous firms and risky debt. A realistic degree of diagnostic overreaction …

We propose a model of optimal decision-making subject to a memory constraint in the spirit
of models of rational inattention. Our theory differs from that of Sims (2003) in not assuming …

We develop a fast, tractable, and robust method for solving the transition path of dynamic
rational inattention problems in linear-quadratic-Gaussian settings. As an application of our …

We revisit several leading puzzles about the aggregate stock market by incorporating into a
standard dividend discount model survey expectations of earnings of S&P 500 firms. Using …

Long-term treasury yields are known to be (i) excessively volatile (Giglio and Kelly, 2018),(ii)
highly sensitive to short-rate movements (Hanson et al., 2018), and (iii) highly predictable …