This thesis uses machine learning techniques and text data to investigate the relationships that arise between the Fed and financial markets, and their consequences for asset prices.The first chapter, entitled Market Expectations and the Impact of Unconv ...
Natural Language Processing (NLP) has become increasingly utilized to provide adaptivity in educational applications. However, recent research has highlighted a variety of biases in pre-trained language models. While existing studies investigate bias in di ...
Job turnover makes a wage Phillips Curve less forward-looking, with a smaller coefficient for inflation expectations. Workers discount future wage income with a low discount factor if there is a strong flow of job turnover; this implies that future inflati ...
Using a vector-autoregression (VAR) model and data from the University of Michigan Survey of Consumers, we provide evidence on the importance of news and consumers' beliefs for housing-market dynamics and aggregate fluctuations. We document that innovation ...
In this chapter, we discuss field experiments in surveys that are conducted with the purpose of learning about expectation formation and the link between expectations and behavior. We begin by reviewing the rationale for conducting experiments within surve ...
The development of sustainable urban projects is crucial to address the challenges of the growing population living in cities. Facing complex decision-making and increasing expectations from inhabitants, local institutions are gradually becoming open to co ...
This paper explores the transmission of "news shocks" in a model of the housing market and shows that anticipated signals or beliefs of future macroeconomic developments can generate boom-bust cycles in the housing market and lead to business cycle fluctua ...
The network industries have been undergoing a process of reform, where liberalisation is one of the main features. This thesis studies the effect of liberalisation, with and without competition, on the incumbent's incentives to innovate. A model of incumbe ...
State-owned enterprises (SOEs) provide important services such as power supply, postal services and public transportation. In doing this, SOEs operate at the intersection of political/regulatory and economic expectations. Therefore, SOEs are commonly consi ...
