We study how framing interplays with information design. Whereas Sender conceives all contingencies separately, Receiver cannot initially distinguish among some of them, i.e., has a coarse frame. To influence…
How does government control over mass media affect banking system? Our theoretical model predicts that if the media are biased, depositors are less likely to run on their bank, but also less likely to deposit…
Women are less likely to correctly answer the “Big-3” financial literacy questions, and a substantial share of the gap reflects women’s lower confidence. In our experiment, women are more likely to choose “do…
We examine a setting of independent private value auctions where bidders can covertly acquire gradual information about their valuations. We demonstrate that a dynamic pivot mechanism implements the rst-best…
Ein ereignisreiches Jahr liegt hinter uns, und mit dieser letzten Ausgabe des ZEW Monthly 2024 blicken wir auf die vergangenen zwölf Monate am ZEW zurück. Wir präsentieren Ihnen eine Auswahl an Highlights aus…
We study how households adjust their medium-term inflation expectations under the new ECB inflation targeting strategy. Survey respondents make little difference between the previous strategy of targeting…
This paper examines the legal consequences and assesses the economic impact of the differing tax treatment of investment funds in Portugal, Germany, and Luxembourg before and after the Allianzgi-Fonds case…
We construct a novel dataset of human capital accumulation in China and India from 1900 to 2020 by combining historical records and educational reports to analyze the role of education in economic divergence.…
