D8 - Information, Knowledge, and Uncertainty

• How Do Agents Form Macroeconomic Expectations? Evidence from Inflation Uncertainty

  Staff Working Paper 2024-5 Tao Wang

  The uncertainty regarding inflation that is observed in density forecasts of households and professionals helps macroeconomists understand the formation mechanism of inflation expectations. Shocks to inflation take time to be perceived by all agents in the economy, and such rigidity is lower in a high-inflation environment.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Inflation and prices, Monetary policy and uncertainty JEL Code(s): D, D8, D84, E, E3, E31, E7, E71

• The Role of Long-Term Contracting in Business Lending

  Staff Working Paper 2024-2 Phoebe Tian

  This paper examines inefficiencies arising from a lack of long-term contracting in small business lending in China.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions JEL Code(s): D, D8, D83, D86, G, G2, G21, L, L1, L14, L2, L26