Research

List of Publications

Recent Working Papers

Dräger, L.; Marenčák, M.; Nghiem, G.; Paloviita, M. (2026): Heterogeneity in Consumers' Economic Expectations across Euro Area Countries, Hannover Economic Papers No. dp-747; CESifo Working Paper No. 12725; Bank of Finland Research Discussion Papers 6/2026; National Bank of Slovakia Working Paper WP 7/2026
Blaufus, K.; Dräger, L; Milde, M.; Schneider, J. C. (2026): How Do Money and Tax Illusion Impact Long-Term Investments? An Experiment, Hannover Economic Papers No. dp-750; CESifo WP No. 12799

Dräger, L.; Gründler, K.; Potrafke, N. (2025): Peer Effects in Macroeconomic Expectations, Hannover Economic Papers No. dp-739; CESifo Working Paper No. 11892
Dräger, L.; Floto, M.; Schröder, M. (2025): Inflation Expectations and Risk Preferences, Hannover Economic Papers No. dp-726; CESifo Working Paper No. 11326

Nghiem, G.; Dräger, L. and Dalloul, A. (2024): Anchoring Households' Inflation Expectations When Inflation Is High, Hannover Economic Papers No. dp-719; CESifo Working Paper No. 11042
Bui, D.; Dräger, L.; Hayo, B.; Nghiem, G. (2024): The Marginal Propensity to Consume and Household Savings During the COVID-19 Pandemic: Evidence from Thailand and Vietnam, Hannover Economic Papers No. dp-717
Behringer, J.; Dräger, L.; Dullien, S. and Gechert, S. (2024): News and Views on Public Finances: A Survey Experiment, Hannover Economic Papers No. dp-715; CESifo Working Paper No. 10891

Dräger, L.; Lamla, M. J. and Pfajfar, D. (2023): The Hidden Heterogeneity of Inflation and Interest Rate Expectations: The Role of Preferences, Finance and Economics Discussion Series 2020-054; Board of Governors of the Federal Reserve System; Hannover Economic Papers No.dp- 666 and CESifo Working Paper No. 9637

Dräger, L. (2025): Central Bank Communication with the General Public, in: Lenel et al. (eds.) (2025): The Routledge Handbook of Economic Expectations in Historical Perspective, Routledge, ch. 12, pp. 213-232, https://doi.org/10.4324/9781003379010
Dräger, L. and Nghiem, G. (2025): Inflation Literacy, Inflation Expectations, and Trust in the Central Bank: A Survey Experiment, The Review of Economics and Statistics, 1-45, https://doi.org/10.1162/rest_a_01576
Dräger, L.; Gründler, K. and Potrafke, N. (2025): Political Shocks and Inflation Expectations: Evidence from the 2022 Russian Invasion of Ukraine, Journal of International Economics, 153, 104029, https://doi.org/10.1016/j.jinteco.2024.104029

Dräger, L.; Lamla, M. J. and Pfajfar, D. (2024): How to limit the spillover from an inflation surge to inflation expectations?, Journal of Monetary Economics, 144, 103546, https://doi.org/10.1016/j.jmoneco.2023.12.004
Dräger, L. and Lamla, M. J. (2024): Consumers' Macroeconomic Expectations, Journal of Economic Surveys, 38(2), 427-451, http://doi.org/10.1111/joes.12590

Dräger, L.; Kolaiti, T. and Sibbertsen, P. (2023): Measuring macroeconomic convergence and divergence within EMU using long memory, Empirical Economics, 65, 2333-2356, https://doi.org/10.1007/s00181-023-02426-6
Bui, D.; Dräger, L.; Hayo, B. and Nghiem, G. (2023): Macroeconomic expectations and consumer sentiment during the COVID-19 pandemic: The role of others’ beliefs, European Journal of Political Economy, 77, 102295, https://doi.org/10.1016/j.ejpoleco.2022.102295

Bui, D.; Dräger, L.; Hayo, B. and Nghiem, G. (2022): The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam, World Development, 153, 105828, https://doi.org/10.1016/j.worlddev.2022.105828

Dräger, L. and Nghiem, G. (2021): Are Consumers‘ Spending Decisions in Line With an Euler Equation?, The Review of Economics and Statistics, 103(3), 580-596, https://doi.org/10.1162/rest_a_00909

Dräger, L. and Proaño, C. (2020): Cross-Border Banking and Macroprudential Policies in Asymmetric Currency Unions, Macroeconomic Dynamics, 24(2), 255-290, https://doi.org/10.1017/S1365100518000214

Dräger, L. and Lamla, M. J. (2017): Imperfect Information and Inflation Expectations: Evidence from Microdata, Oxford Bulletin of Economics & Statistics, 79, 933-968, https://doi.org/10.1111/obes.12189
Dräger, L. and Lamla, M. J. (2017): Explaining Disagreement on Interest Rates in a Taylor-rule Setting, The Scandinavian Journal of Economics, 119, 987-1009, https://doi.org/10.1111/sjoe.12217

Dräger, L.; Lamla, M.J. and Pfajfar, D. (2016): Are Survey Expectations Theory-Consistent? The Role of Central Bank Communication and News, European Economic Review, 85, 84-111, https://doi.org/10.1016/j.euroecorev.2016.01.010
Dräger, L. (2016): Recursive Inattentiveness with Heterogeneous Expectations, Macroeconomic Dynamics, 20, 1073-1100, https://doi.org/10.1017/S1365100514000741

Dräger, L. (2015): Inflation Perceptions and Expectations in Sweden - Are Media Reports the "Missing Link"?, Oxford Bulletin of Economics & Statistics, 77(5), 681-700, https://doi.org/10.1111/obes.12078
Dräger, L.; Menz, J.-O. and Fritsche, U. (2014): Perceived Inflation under Loss Aversion, Applied Economics, 46(3), 282-293, https://doi.org/10.1080/00036846.2013.844328
Dräger, L. and Lamla, M.J. (2012): Updating Inflation Expectations: Evidence from Micro Data, Economic Letters, 117, 807-810, https://doi.org/10.1016/j.econlet.2012.08.033
Vogel, L. (2009): The endogeneity of the natural rate of growth - an empirical study for Latin-American countries, International Review of Applied Economics, 23(1), 41-53, https://doi.org/10.1080/02692170802496869
Vogel, L. and Hein, E. (2008): Distribution and growth reconsidered: empirical results for six OECD countries, Cambridge Journal of Economics, 32(3), 479-511, https://doi.org/10.1093/cje/bem047

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