Handbook of Economic Expectations - Softcover

Über die Autorinnen und Autoren

Rüdiger Bachmann is currently a Stepan Family Associate Professor (with tenure) of economics at the department of economics at the University of Notre Dame. At Notre Dame he is also a fellow of the Nanovic Institute for European Studies. He is a research affiliate with the Centre for Economic Policy Research (CEPR), a CESifo research network fellow and an external research professor at the ifo institute in Munich. Before joining the University of Notre Dame Bachmann was a full professor (W3) of behavioral economics and finance jointly at Goethe University and the Center of Excellence “Sustainable Architecture for Finance in Europe” (SAFE) in Frankfurt; the holder of the chair of economics, especially Macroeconomics (W3), at RWTH Aachen University; an assistant professor of economics at the University of Michigan; and a visiting (assistant) professor at the University of Pennsylvania, the University of Michigan, Harvard University and Boston University. Bachmann received undergraduate degrees in Economics and Philosophy from Mainz University, and a Ph.D. from Yale University in 2007. Bachmann also serves as an associate editor for the "Journal of Economic Dynamics and Control" and is a member of the macroeconomics committee of the German Economic Association.

Giorgio Topa is a Vice President in the Microeconomic Studies Function at the Federal Reserve Bank of New York. His primary research interests include applied microeconomics, labor economics and applied econometrics. He has been studying models of networks and social interactions, and associated econometric tools; mismatch in the labor market; job search behavior; consumer expectations and the elicitation of expectations in surveys. Prior to joining the New York Fed, Mr. Topa was an assistant professor at New York University. He holds a B.A. from Universita' di Venezia, Italy and a Ph.D. from the University of Chicago.

Wilbert Van Der Klaauw is a Senior Vice President in the Microeconomic Studies Function and Director of the Center for Microeconomic Data at the Federal Reserve Bank of New York. He is a labor economist and applied econometrician whose research interests include the study of life cycle labor supply, household financial behavior and expectations, educational investment and productivity, and econometric approaches to program evaluation. He is co-editor of Labour Economics. Prior to joining the New York Fed, Dr. van der Klaauw was a Professor at UNC-Chapel Hill and Assistant Professor at New York University. He holds a Ph.D. from Brown University.

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Expectations lie at the heart of any economic model of decision making under uncertainty. Traditionally, rational, that is, model-internal expectations have been a powerful tool for economic analysis, but increasingly the economics field has engaged in innovative data collection efforts to directly elicit expectations from economic agent.

Data on subjective expectations allow us to make progress on fundamental questions around the formation and updating of expectations by economic agents and about the content of their information sets; to study the heterogeneity and potential biases in expectations, analyzing their impact on behavior; and to deepen our understanding of the role expectations play in decision making under uncertainty.

This volume aims to discuss the state of the art in the collection, study and use of expectations data in economics, the modeling of expectations formation and updating, as well as open questions and directions for future research. The plan of the volume spans a broad range of fields, approaches and applications. Thus, the volume will position itself as a go-to reference for current and future scholars in this area.