This paper tests the existence of strategic information complementarities as a source of sectoral comovement. A theoretical model derived in Veldkamp and Wolfers (2007) explains sectoral comovement by the assumption that firms rely too much on aggregate information to make output decisions. We...

Recent literature suggests that news shocks could be an important driver of economic cycles. In this article, we use a direct measure of news sentiment derived from media reports. This allows us to examine whether innovations in the reporting tone correlate with changes in the assessment and...

Die Aktualisierung der ifo Konjunkturprognose vom 24. Juni 2003 trägt den veränderten finanzpolitischen Rahmendaten (z. B. Vorziehen der Steuerreform, vorgesehene Reform des Gesundheitswesens) sowie den neuesten Ergebnissen des ifo Konjunkturtests Rechnung. Im kommenden Jahr wird die...