How do people form their expectations on macroeconomic issues?

In his very interesting book, Richard Curtin (who has directed the consumer sentiment survey of the University of Michigan for several decades) argues that consumers form expectations in a complex way using conscious and nonconscious processes. Passion and reason are combined with public and private information to form the basis for the decisions and expectations of consumers.

A really good book: You can download it from Cambridge University Press or from amazon:

Last week, I recommended the book “narrative economics” by Robert Shiller, where he argues that economic narratives spread in a similar way as diseases (the book was written before the coronavirus pandemic). Here again the link from amazon (or alternatively, you can order it from Princeton University Press):

Narrative Economics: How Stories Go Viral and Drive Major Economic Events

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