The Macroeconomic Expectations of U.S. Managers
Working Paper 29986
DOI 10.3386/w29986
Issue Date
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.