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Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
CESifo Working Paper No. 11892
Verlag: 
CESifo GmbH, Munich
Zusammenfassung: 
Social interactions affect individual behavior in a variety of ways, but their effects on expectation formation are less well understood. We design a large-scale global survey experiment among renowned experts working in 135 countries to study whether peer effects impact expectations about the macroeconomy. The global setting allows us to exploit rich cross-national variation in macroeconomic fundamentals. Our experiment uncovers sizable effects of peers and shows that peer information also shifts monetary policy recommendations of experts. The results have important implications for the design of policies and models of information acquisition.
Schlagwörter: 
inflation expectations
belief formation
peer effects
survey experiment
economic experts
JEL: 
E31
E71
D84
Dokumentart: 
Working Paper
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