Philip Schnorpfeil

Inflation and Trading

(Philip Schnorpfeil, Michael Weber, and Andreas Hackethal)

Journal of Financial Economics (2025), 173, 104166

Best Paper Award, 8th SAFE Household Finance Workshop

Other versions: [BFI] [CESifo] [CFS] [Chicago Booth] [NBER] [SAFE]

Featured in: [BFI Research Brief] [Chicago Booth Review] [Daniels Insights] [FAZ (#1) (in German)]  [FAZ (#2) (in German)]  [Handelsblatt (in German)]

The Response of Debtors to Rate Changes

(Andreas Fuster, Virginia Gianinazzi,  Andreas Hackethal,  Philip Schnorpfeil, and Michael Weber, version: January 2026)

Other versions: [CEPR] [CESifo] [CFS] [NBER] [SAFE] [SFI] 

Featured in: [SUERF] [VoxEU]

Households' Response to the Wealth Effects of Inflation

(Philip Schnorpfeil, Michael Weber and Andreas Hackethal, version: April 2026)

Revise and Resubmit, Journal of the European Economic Association

ECB Lamfalussy Fellowship 2022--23 

Other versions: [BFI] [CEPR] [CESifo] [CFS] [Chicago Booth] [ECB] [NBER] [SAFE]

Featured in: [BFI Research Brief] [Chicago Booth Review] [FAZ (#1) (in German)] [FAZ (#2) (in German)] [VoxEU]

Big Brother Watches You (Even When He's Dead): Surveillance and Long-run Conformity

(Francesco D'Acunto, Philip Schnorpfeil, and Michael Weber, version: May 2022)

Communist Imprints and Corporate Behavior

(Philip Schnorpfeil, version: July 2021)

How Mortgagors Use Rate Relief

(Andreas Fuster, Virginia Gianinazzi, and Philip Schnorpfeil)

Most mortgagors who refinance at lower rates keep their payment and repay faster, turning rate relief into home equity rather than disposable income.

The Personal Factor in Financial Services

(Francisco Amaral, Andreas Fuster, Christine Laudenbach, and Philip Schnorpfeil)

Measures what meeting a mortgage advisor in person adds when human advice remains available online.

AI Mental Models and Investing Choices

(with Elliott Ash, Andreas Hackethal, Wei Pin, Philip Schnorpfeil, Lena Song, Michael Weber, and Shihan Xie)

Elicits retail investors' mental models of AI with a survey-embedded chatbot and tests whether these models move their portfolios.