This is the first book to investigate individual’s pessimistic and optimistic prospects for the future and their economic consequences based on sound mathemat

Economic theory offers several explanations as to why shifting expectations about future economic activity affect current demand. Abstracting from whether chang

"Many economists feed today's pessimism with regard to the future. Peter De Keyzer is a welcome exception. Yes, there are problems, but this book shows that the

Are firms' expectations systematically too optimistic or too pessimistic? Does it matter? We use micro data from the West German manufacturing subset of the IFO