Despite high inflation, the real gross hourly wages of employees grew by around 15 percent from 1995 to 2022. In particular, the lowest wage decile caught back up to all other deciles following a sharp drop in real wages. At the same time, the low-wage sector has shrunk by nearly five percentage points since 2007, and by even more in the east of Germany (14 percent). In 2022, 18.5 percent of employees ...
Die Bruttostundenlöhne von abhängig Beschaftigten sind im Zeitraum 1995 bis 2022 trotz zuletzt hoher Inflation real um rund 15 Prozent gestiegen. Vor allem das unterste Lohndezil holte nach zwischenzeitlich starken Reallohnverlusten wieder gegenüber allen anderen Dezilen auf. Parallel dazu ging der Niedriglohnsektor seit 2007 um knapp fünf Prozentpunkte zuruck, in Ostdeutschland sogar um 14 Prozentpunkte. ...
In conventional proxy VAR analysis, the shocks of interest are identified by external instruments. This is typically accomplished by considering the covariance of the instruments and the reduced-form residuals. Alternatively, the instruments may be internalized by augmenting the VAR process by the instruments or proxies. These alternative identification methods are compared and it is shown that the ...
This paper explores the effect of COVID-19 infection rates on individuals’ risk preferences using the Socio-Economic Panel (SOEP). Findings show that the spread of COVID-19 does not significantly alter risk preferences. While we do find that individuals with prior cardiovascular diseases reduce their preference for risk-taking, this zero effect is remarkably stable across subgroups of the population. ...
