en
Persons
Johannes Wohlfahrt
Publications (selection)
(2024)
Mikosch, H., Roth, C., Sarferaz, S., & Wohlfart, J. (2024).
"Uncertainty and Information Acquisition: Evidence from Firms and Households." American Economic Journal: Macroeconomics, 16(2), 375–405.(2023)
Haaland, I., Roth, C., & Wohlfart, J. (2023).
"Designing Information Provision Experiments." Journal of Economic Literature, 61(1), 3–40.Link, S., Peichl, A., Roth, C., & Wohlfart, J. (2023).
"Information Frictions Among Firms and Households." Journal of Monetary Economics, 135, 99–115.(2022)
Roth, C., Settele, S., & Wohlfart, J. (2022).
"Risk Exposure and Acquisition of Macroeconomic Information." American Economic Review: Insights, 4(1), 34–53.Roth, C., Settele, S., & Wohlfart, J. (2022).
"Beliefs About Public Debt and the Demand for Government Spending." Journal of Econometrics, 231(1), 165–187.In the media
ECONtribute Wirtschaftspodcast, 13.08.2024 | Host: Carolin Jackermeier
“Wieso verhalten sich Menschen am Aktienmarkt so unterschiedlich? Wie entstehen eigentlich Blasen? Und wie viel Einfluss haben Privatanlegende überhaupt auf Aktienkurse? Johannes Wohlfahrt, Professor bei ECONtribute an der Uni Köln, analysiert in seiner Forschung unter anderem das Verhalten von Menschen am Aktienmarkt. In verschiedenen Studien hat er ein mentales Modell von Anlegenden entwickelt. Wir sprechen darüber, warum selbst Fondsmanager oft nicht rational handeln, welche Anlagestrategie laut Finanzforschung die erfolgversprechendste ist und ob bessere Finanzbildung Börsencrashs verhindern könnte.”Link to article: https://econtribute.de/de/wie-funktioniert-der-aktienmarkt-neue-folge-des-econtribute-wirtschaftspodcasts/
SAFE Finance Blog, 27.05.2024 | Peter Andre, Philipp Schirmer, & Johannes Wohlfahrt
“Successful stock investment does not require investing in companies with higher expected earnings. The reason is simple. You pay a higher stock price for companies that are expected to be more successful. However, retail investors often neglect this important principle when thinking about stock returns, which reveals an important gap in households’ financial literacy. […] The fact that stock prices are forward-looking means that investing in the stock market is — in many respects — much easier than retail investors think. […] [Households] can earn the average market return by investing in large and broadly diversified index funds (ETFs) with low fees.”CEPR VOXEU Column, 23.12.2021 | Johannes Wohlfart, Ingar Haaland, Christopher Roth, & Peter Andre
“Inflation has recently surged in both the US and the EU. This column uses responses from surveys of a representative sample of the US population as well as academic economists and US firm managers to show that households and managers are more likely than experts to think that the current surge in inflation will be persistent. Since the narratives individuals use to explain movements in inflation appear central to whether inflation expectations remain anchored, communication strategies by policymakers could put emphasis on specific narratives that highlight that inflationary pressures are unlikely to persist.”Link to article: https://cepr.org/voxeu/columns/inflation-narratives
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