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Wer ist eigentlich schuld an der Finanzmarktkrise? Teile der Politik und der Medien bieten ebenso einfache wie eingängige Erklärungen an: Schuld seien "die Gier der Banker" und allgemein ein "Versagen des Kapitalismus". Aus dieser Sicht konsequent werden für die Zukunft vor allem umfassendere...
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The euro area is experiencing a severe and highly complex crisis. It comprises three problem areas, the diffi culties … European banking system and disappointing growth prospects in the euro area periphery. To make matters even worse, these … fundamental doubts over its integrity. To overcome this systemic crisis, it would not be sufficient, if only the stronger euro …
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In this paper we argue that future inflation in an economy depends on the way people perceive current inflation, their inflation sentiment. We construct some simple measures of inflation sentiment which capture whether price acceleration is shared by many components of the CPI basket. In a...
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