• Can Firms see into the Future? Survey evidence from Germany 

      Massenot, Baptiste; Pettinicchi, Yuri (2017-11-03)
      This paper presents new evidence on the expectation formation process of firms from a survey of the German manufacturing sector. It focuses on the expectation about their future business conditions, which enters the widely ...
    • IFO 

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      "The ifo Institute provides the material with which it strives to shape the discourse on relevant topics in academia and in the public eye - hence our claim ""Shaping the Economic Debate"""
    • "Nobody is Perfect": Asset Pricing and Long-Run Survival When Heterogeneous Investors Exhibit Different Kinds of Filtering Errors 

      Branger, Nicole; Schlag, Christian; Wu, Lue (2015-07-31)
      In this paper we analyze an economy with two heterogeneous investors who both exhibit misspecified filtering models for the unobservable expected growth rate of the aggregated dividend. A key result of our analysis with ...