Die Verdichtung von Informationen zu einer Kennzahl scheint praktisch: Sie erleichtert den globalen Vergleich verschiedener Länder. Aus der Positionierung innerhalb eines Rankings werden wirtschaftspolitische Empfehlungen abgeleitet. Der Politik wird signalisiert, genau an den Einzelkennziffern...

In this paper we argue that future inflation in an economy depends on the way people perceive current inflation, their inflation sentiment. We construct some simple measures of inflation sentiment which capture whether price acceleration is shared by many components of the CPI basket. In a...

An eternal motive of human existence is the search for guidance.While values and beliefs retain their high relevance, today's enlightened societies also tend to rest their aspirations and decisions on the actual facts and on a sober assessment of possible courses of events emerging from...