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Patience and Subnational Differences in Human Capital: Regional Analysis with Facebook Interests

Decisions to invest in human capital depend on people's time preferences. This paper shows that differences in patience are closely related to substantial subnational differences in educational achievement, leading to new perspectives on longstanding within-country disparities. We use social-media data – Facebook interests – to construct novel regional measures of patience within Italy and the United ...

An Advanced Reliability Reserve Incentivizes Flexibility Investments while Safeguarding the Electricity Market

To ensure security of supply in the power sector, many countries are considering capacity mechanisms. Simultaneously, the expansion of variable renewables increases the need for power sector flexibility, with promising options on the demand side. We analyze how a centralized capacity market and an advanced reliability reserve with a moderately high activation price affect demand-side flexibility investments ...

Mapping Life Satisfaction Over the First Years of Cohabitation Among Former Singles Living Alone in UK and Germany

Objective: As social norms and relationship dynamics evolve, it is important to examine how transitions from singlehood to partnership, cohabitation, and marriage relate to well-being Method: Using data from two large panel studies in the UK and Germany (1984–2019), we identified N = 27,459 individuals who reported being single and living alone at least once. Analyses focused on a subset (N = 1103; ...

Integrating Out Natural Disaster Shocks

We study the role of international financial integration in buffering natural disaster shocks, using a large sample of advanced and emerging economies. Natural disasters are largely unpredictable and unrelated to the state of financial integration. We document that integration improves the absorption of such shocks: Output, consumption, and investment are significantly higher after a natural disaster ...

One‐Way Versus Two‐Way Postacquisition Integration Efforts: Theory and Evidence

We develop a theory of postacquisition integration that distinguishes between one-way (acquirer-only) and two-way (mutual) effort strategies. We argue that the method of payment—cash versus shares—may serve as an ex ante commitment mechanism to a particular integration strategy, where cash deals align with unilateral effort, and share deals induce mutual engagement. Using transaction-level mergers ...

Spatial Competition and Pass-through of Fuel Taxes: Evidence from a Quasi-natural Experiment in Germany

This paper analyses determinants of pass-through for Germany’s 2022 temporary fuel discount at its implementation and subsequent termination. Based on a unique dataset of fuel station characteristics and prices, we employ a two-stage Regression Discontinuity in Time (RDiT) methodology to estimate spatial passthrough variation. Our findings indicate that horizontal and vertical market structures exert ...

Baseload Power Plants Are Not Essential for Future Power Systems

The transition to decarbonized energy systems has fueled a controversial debate over the necessity of traditional ‘‘baseload’’ power. Skepticism remains regarding the reliability and economic feasibility of power systems relying mainly on cheap variable renewable energy (VRE) sources. Addressing this, the German Academies’ project ‘‘Energy Systems of the Future’’ (ESYS) analyzed the role of baseload ...

Exploring Integration and Migration Dynamics: The Research Potentials of a Large-Scale Longitudinal Household Study of Refugees in Germany

Forced migration has intensified in the 21st century, driven by conflicts, persecution, and political instability in regions such as the Middle East, Afghanistan, the Horn of Africa, South-East Asia, Latin America and, most recently, Ukraine. Germany has become a primary destination for refugees within the European Union and one of the largest among the OECD countries. The IAB-BAMF-SOEP Refugee Survey, ...

Within-Nation Variation in War Exposure and Psychological and Physical Adjustment

Extensive evidence suggests that war-related trauma negatively affects health, yet its long-term and transgenerational effects on psychological and physical adjustment remain poorly understood. This study examines whether individuals who experienced greater war exposure in early childhood—specifically variation in bombardment intensity across German municipalities during the Second World War—show lower, ...

The Effects of Government Interventions on Housing Market: A Meta-Study of Empirical Literature