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The Macroeconomic Expectations of U.S. Managers

Author

Listed:
  • Ethan M. L. McClure
  • Olivier Coibion
  • Yuriy Gorodnichenko

Abstract

Using responses obtained through the Nielsen Homescan panel survey, we explore the differences between managers’ and non-managers’ expectations and perceptions of inflation and unemployment. By and large, managers and non-managers exhibit similar average inflation and unemployment expectations as well as similar levels of disagreement and sensitivity to information provided in a randomized control trial. Finally, the inflation expectations of managers deviate systematically from the predictions of “anchored” expectations.

Suggested Citation

  • Ethan M. L. McClure & Olivier Coibion & Yuriy Gorodnichenko, 2022. "The Macroeconomic Expectations of U.S. Managers," NBER Working Papers 29986, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:29986
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    Cited by:

    1. Yotzov, Ivan & Bloom, Nicholas & Bunn, Philip & Mizen, Paul & Thwaites, Gregory, 2024. "The speed of firm response to inflation," Bank of England working papers 1085, Bank of England.
    2. repec:ecb:ecbdps:202424 is not listed on IDEAS
    3. Georgarakos, Dimitris & Kenny, Geoff & Meyer, Justus, 2023. "Recent changes in consumers’ medium-term inflation expectations – a detailed look," Research Bulletin, European Central Bank, vol. 104.

    More about this item

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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