Using tailored surveys of more than 11,000 US and German households, retail investors, financial professionals, and academic experts, the paper documents the "mental models" people use when reasoning …
Online FirstReview of Economic StudiesOnline 18 Feb 2026
This paper investigates two related empirical questions in the context of the historic surge in US inflation in late 2021 and 2022: (1) What narratives—causal stories—do people invoke to explain why …