Publications of the Research Unit Pensions and Sustainable Financial Markets

  1. ZEW Discussion Paper No. 23-074 // 2023

    Households’ Financial Resilience, Risk Perceptions, and Financial Literacy – Evidence From a Survey Experiment

    We examine the financial resilience of Austrian households, relating it to their experience of financial shocks earlier in life and to their financial literacy. We find that previous negative (positive)…

  2. ZEW Discussion Paper No. 23-073 // 2023

    Talking in a Language That Everyone Can Understand? Clarity of Speeches by the ECB Executive Board

    We use data on speeches held by members of the European Central Bank's (ECB) Executive Board to analyze whether clarity of central bank communication has increased over time. Employing readability measures as…

  3. ZEW Discussion Paper No. 23-072 // 2023

    Households’ Probabilistic Inflation Expectations in High-Inflation Regimes

    Central bank surveys frequently elicit households’ probabilistic beliefs about future inflation. However, most household surveys use a response scale that is tailored towards low-inflation regimes. Using data…

  4. ZEW Discussion Paper No. 23-064 // 2023

    Broken Relationships: De-Risking by Correspondent Banks and International Trade

    We exploit proprietary information on severed correspondent banking relationships (due to the stricter enforcement of financial crime regulation) to assess how payment disruptions impede cross-border trade.…

  5. ZEW Discussion Paper No. 23-062 // 2023

    Heterogeneous Expectations among Professional Forecasters

    Macroeconomic expectations of various economic agents are characterized by substantial cross-sectional heterogeneity. In this paper, we focus on expectations heterogeneity among professional forecasters. We…

  6. Non-Refereed Journal // 2023

    Attraktive Finanzbildung für junge Menschen mit CashCoach

    Finanzbildung kann das Finanzverhalten junger Erwachsener nachhaltig verbessern, sie in ihren Entscheidungen stärken und ihnen helfen, Chancen und Risiken zu erkennen. Digitale Tools, die finanzielle Inhalte mit…

Further Publications

ZEW Financial Market Survey

German Real Estate Finance Index (DIFI Report)