As from a political economy perspective, politicians often fail to implement structural reforms, we investigate if the resistance to reform is based on the differences in the risk preferences of voters, politicians, and bureaucrats. Based on the empirical results of a survey of the population in...

German Abstract: Offen ausgetragenen Lagerdebatten zwischen Ökonomen sind in Deutschland eher selten. Was hingegen öfters in Diskussionen oder in der Berichterstattung über Ökonomen mitschwingt, ist eine Zuordnung in weltanschauliche Lager, etwa nach Schemata wie arbeitgeber-arbeitnehmernah...

Expectations form the basis of economic decisions of market participants in an uncertain world. Sentiment indicators reflect those expectations and thus have a proven track record for predicting economic variables. However, respondents of surveys perceive the world to a large extent with the...

This article sheds light on the interaction of media, economic actors, and economic experts. Based on a unique data set of 86,000 news items rated by professional analysts of Media Tenor International and survey data, we first analyze the overall tone of the media, consumers', firms', and...