Central banks are increasingly reaching out to the general public to motivate and explain
their monetary policy actions. One major aim of this outreach is to ensure accountability and …

The recent financial crisis has highlighted the need to go beyond a purely micro approach to
financial regulation and supervision. As a consequence, the number of policy speeches …

Households' and firms' subjective inflation expectations play a central role in
macroeconomic and intertemporal microeconomic models. We discuss how subjective …

We study how different forms of communication influence inflation expectations in a
randomized controlled trial using nearly 20,000 US individuals. We elicit individuals' inflation …

We develop a deep learning model to detect emotions embedded in press conferences after
the Federal Open Market Committee meetings and examine the influence of the detected …

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 …

Commonly used instruments for the identification of monetary policy disturbances are likely
to combine the true policy shock with information about the state of the economy due to the …

We study people's subjective models of the macroeconomy and shed light on their
attentional foundations. To do so, we measure beliefs about the effects of macroeconomic …

Introducing a new survey of US firms' inflation expectations, we document key stylized facts
involving what US firms know and expect about inflation and monetary policy. The resulting …

We explore how the multi-dimensional aspects of information released by the FOMC has
effects on both market and real economic variables. Using tools from computational …