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IWH in Halle gründet europäisches Zentrum für MikrodatenforschungReint GroppDeutschlandfunk, 9. Januar 2025
This paper investigates the impact of precise language on market efficiency by examining the interplay between regulatory language simplification, as imposed by the Plain Writing Act of 2010, and information asymmetries in financial markets.
We exploit detailed data on approved and rejected small-business loans to assess the impact of a new credit registry in Bosnia and Herzegovina.
Using inflation and GDP growth forecasts by professional forecasters for a panel of emerging and advanced economies, we provide direct evidence that foreign forecasters update their forecasts less frequently than local forecasters (about 10% less frequently) and make larger errors in absolute value (up to 9% larger).
