#  Working Papers 

 



 



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##  6 results 

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### Working Paper

Bordalo, Pedro, Nicola Gennaioli, Florencio Lopez-de-Silanes, Andrei Shleifer, Maarten van Rooij, and Simon Schröder. “[The Psychology of Macroeconomic Expectations](/publication/psychology-macroeconomic-expectations).”



 

 

Bordalo, Pedro, Nicola Gennaioli, Florencio Lopez-de-Silanes, Andrei Shleifer, Maarten van Rooij, and Simon Schröder. “[The Psychology of Macroeconomic Expectations](/publication/psychology-macroeconomic-expectations).”



 

 

 

- add\_circle do\_not\_disturb\_on Abstract
- [ picture\_as\_pdf(PDF, Current Version, Ma...](/sites/g/files/omnuum10626/files/2026-05/dutch.may11_0.pdf)
 
We present a model of “animal spirits” in which context and emotions affect macroeconomic beliefs by shaping which experiences people recall to simulate similar future aggregate states. We test this mechanism by priming Dutch National Bank Survey...



 

 

- [ picture\_as\_pdf(PDF, Current Version, Ma...](/sites/g/files/omnuum10626/files/2026-05/dutch.may11_0.pdf)
 
 

Gennaioli, Nicola, Marta Leva, Raphael Schoenle, and Andrei Shleifer. “[How Inflation Expectations De-Anchor: The Role of Selective Memory Cues](/publications/how-inflation-expectations-de-anchor-role-selective-memory-cues).”



 

 

Gennaioli, Nicola, Marta Leva, Raphael Schoenle, and Andrei Shleifer. “[How Inflation Expectations De-Anchor: The Role of Selective Memory Cues](/publications/how-inflation-expectations-de-anchor-role-selective-memory-cues).”



 

 

 

- add\_circle do\_not\_disturb\_on Abstract
- [ picture\_as\_pdfPDF, Current Version, Jun...](/sites/g/files/omnuum10626/files/2025-06/inflation.june24_0.pdf)
 
In a model of memory and selective recall, household inflation expectations remain rigid when inflation is anchored but exhibit sharp instability during inflation surges, as similarity prompts retrieval of forgotten high-inflation experiences. Using data...



 

 

- [ picture\_as\_pdfPDF, Current Version, Jun...](/sites/g/files/omnuum10626/files/2025-06/inflation.june24_0.pdf)
 
 

Shleifer, Andrei, Pedro Bordalo, Nicola Gennaioli, Giovanni Burro, and Gad Nacamulli. “[Ads As Cues](/publication/ads-cues).”



 

 

Shleifer, Andrei, Pedro Bordalo, Nicola Gennaioli, Giovanni Burro, and Gad Nacamulli. “[Ads As Cues](/publication/ads-cues).”



 

 

 

- add\_circle do\_not\_disturb\_on Abstract
- [ picture\_as\_pdfPDF, Current Version (Oct...](/sites/g/files/omnuum10626/files/2025-10/Ads.October_FINAL-1.pdf)
 
Why do we see both advertising and powerful consumer habits for well-known and intrinsically similar brands? We offer an explanation based on the idea that, as in Bordalo et al. (2020), a consumer is more likely to demand a good if she recalls the...



 

 

- [ picture\_as\_pdfPDF, Current Version (Oct...](/sites/g/files/omnuum10626/files/2025-10/Ads.October_FINAL-1.pdf)
 
 

Bordalo, Pedro, Katherine Coffman, Nicola Gennaioli, and Andrei Shleifer. “[Older People Are Less Pessimistic About the Health Risks of Covid-19](/publications/older-people-are-less-pessimistic-about-health-risks-covid-19).”



 

 

Bordalo, Pedro, Katherine Coffman, Nicola Gennaioli, and Andrei Shleifer. “[Older People Are Less Pessimistic About the Health Risks of Covid-19](/publications/older-people-are-less-pessimistic-about-health-risks-covid-19).”



 

 

 

- [ picture\_as\_pdfPDF, Current Version, Jun...](/sites/g/files/omnuum10626/files/shleifer/files/bcgs_covid_june30.pdf)
 
- [ picture\_as\_pdfPDF, Current Version, Jun...](/sites/g/files/omnuum10626/files/shleifer/files/bcgs_covid_june30.pdf)
 
 

Shleifer, Andrei, Hemanth Asirvatham, and Elliott Mokski. “[GPT As a Measurement Tool](/publication/gpt-measurement-tool).”



 

 

Shleifer, Andrei, Hemanth Asirvatham, and Elliott Mokski. “[GPT As a Measurement Tool](/publication/gpt-measurement-tool).”



 

 

 

- [ picture\_as\_pdfPaper PDF (February 2026)](/sites/g/files/omnuum10626/files/2026-02/Paper%20PDF%20%28February%202026%29.pdf)
- [Dataset](https://drive.google.com/file/d/125OmhdLwhPpzf6f2ScSxH-5WQykgEmJr/view?usp=sharing)
 
- [ picture\_as\_pdfPaper PDF (February 2026)](/sites/g/files/omnuum10626/files/2026-02/Paper%20PDF%20%28February%202026%29.pdf)
- [Dataset](https://drive.google.com/file/d/125OmhdLwhPpzf6f2ScSxH-5WQykgEmJr/view?usp=sharing)
 
 

Djankov, Simeon, Edward Glaeser, and Andrei Shleifer. “[How Reform Happens](/publication/how-reform-happens).”



 

 

Djankov, Simeon, Edward Glaeser, and Andrei Shleifer. “[How Reform Happens](/publication/how-reform-happens).”



 

 

 

- [ picture\_as\_pdf(PDF, Current Version, Ap...](/sites/g/files/omnuum10626/files/2026-04/REFORM.April17_0.pdf)
 
- [ picture\_as\_pdf(PDF, Current Version, Ap...](/sites/g/files/omnuum10626/files/2026-04/REFORM.April17_0.pdf)