I investigate how households and firms adjust their inflation expectations when experiencing an increase in their energy prices. I use monthly panel survey data in combination with a difference-in-difference approach to show that households increase their inflation expectations when they...

How do households perceive the forecasting performance of the central bank? Using two novel experiments embedded in the Bundesbank's Survey on Consumer Expectations (total N = 9500), this article shows that the majority of German households underestimate the ECB's inflation forecasting accuracy....

This paper studies external sovereign bonds as an asset class. We compile a new database of 266,000 monthly prices of foreign-currency government bonds traded in London and New York between 1815 (the Battle of Waterloo) and 2016, covering up to 91 countries. Our main insight is that, as in...

Vor dem Hintergrund diffuser Anreizstrukturen zur Implementierung eines Compliance-Management-Systems erwächst eine Vielzahl der Vorzüge erst durch die Offenlegung gegenüber Stakeholdern, wie Investoren, Geschäftspartnern oder Beschäftigten. Mit steigender Bedeutung von Compliance gerät...