We study the long-term effects of inflation surges on inflation expectations using Germany as a laboratory. Households living in areas with higher local inflation during the hyperinflation of the 1920s expect higher inflation today, even after controlling for known determinants of historical...

This paper analyzes how individual investors respond to inflation. We introduce a unique dataset containing information on local inflation and security portfolios of more than 2,000 clients of a German bank between 1920 and 1924, covering the hyperinflation. We find that individual investors buy...

Seit Januar 2019 veröffentlicht das ifo Institut seine monatlichen Umfrageergebnisse auch für die Dienstleistungssektoren in Ostdeutschland und Sachsen. In Ostdeutschland verbesserte sich die Geschäftslage der Dienstleister in den letzten Jahren kontinuierlich, während die...