SOEP awards

Joachim R. Frick Memorial Prizes 2014

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Joachim R. Frick Memorial Prizes 2014

Prize committee

  • Johannes Giesecke (Humboldt-Universität zu Berlin)
  • Marco Giesselmann (DIW Berlin)
  • John Haisken-DeNew (University of Melbourne)
  • Anika Rasner (DIW Berlin)
  • Carsten Schröder (Freie Universität Berlin)
  • Jule Specht (Freie Universität Berlin)

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Honored paper

Christoph Wunder's paper "How does the stock market affect subjective expectations of the future? Evidence from linking financial data to survey responses" examines how economic expectations are formed, and in particular, the role of stock market information as determinants of these expectations. This paper is innovative in that it enriches the detailed information already available in the SOEP with that of daily stock market data. In so doing, this paper provides a deeper understanding of the information flowing into the determination of economic expectations and economic decision making. The author uses the exogeneity of the interview date to identify arguably causal effects of stock market information on expectations. His excellent presentation clearly demonstrated that economic expectations respond to short-term stock-market developments, as returns and variability over a 90-day horizon have the highest explanatory power. The scientific committee is confident that this paper can be published in a leading international journal.

Christoph Wunder presenting his paper
Photo: Filipp Piontek

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Best Poster

Wouter Zwysen's work has been selected for the 2014 Joachim R. Frick Best Poster Prize for his very interesting findings based on the SOEP data. The jury was unanimous in awarding this prize to Wouter Zwysen for his poster "Family background matters for early careers - but not equally". The context of Wouter Zwysen's research deals with a very important question: What is the relationship between a family's background and economic context and individual economic outcomes-in particular, labor market outcomes? In the analysis, Wouter Zwysen uses standard explanatory variables, namely the income, education, and occupational prestige of the labor market participant. Zwysen follows the labor market success of individuals over time using the longitudinal features of SOEP data. Individual success hinges on a variety of determinants - some people being luckier than others. Although some persons are advantaged, they may be unlucky with the economic context at the time when they enter the labor market. For this reason, they may be less successful than initially less advantaged labor market participants. Comparing person A from an advantaged background with person B from a disadvantaged background, person A may be less successful initially than person B depending on when they enter the labor market. As the economic context worsens and the unemployment rate rises, this finding no longer holds true. Under these adverse conditions, the relationship reverses and the advantaged person has a higher chance statistically of coping with the adverse change in the economic context.

From left: Anika Rasner, Wouter Zwysen and Carsten Schröder
Photo: Filipp Piontek

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