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Crowding of International Mutual Funds

We study the relationship between crowding and performance in the active mutual fund industry. Using the equity holdings overlap of 17,364 global funds, we find that funds that crowd into the same stocks underperform passive benchmark funds by 1.4% per year. The negative returns to crowding can at least in part be explained by excess demand for liquidity and the associated discount for holding liquid ...

Decline in Job Satisfaction and How it Relates to Investment Decisions of the Self-Employed

Despite substantial research on job satisfaction in self-employment, we know little about the specific consequences for the venture when job satisfaction declines after an external shock. Taking the COVID-19 pandemic as an example of an external shock and drawing on a sample of nearly 7,000 self-employed individuals living in Germany, we investigate how declines in job satisfaction are related to investment ...

Gehälter von Frauen und Männern: Wie sich die Unterschiede erklären

Jahr für Jahr wird am 6. März der Equal Pay Day gemeldet. Bis zu diesem Tag im Jahr haben Frauen symbolisch gratis gearbeitet, vergleicht man ihre durchschnittlichen Gehälter mit denen von Männern. Den Unterschied zwischen dem, was Männer und Frauen  verdienen, bezeichnet man als Gender Pay Gap. In Berlin haben 2023 Frauen elf Prozent weniger verdient als Männer, in Brandenburg vier Prozent. Dieser ...

Experimental Evidence on Panel Conditioning Effects when Increasing the Surveying Frequency in a Probability-Based Online Panel

We investigate panel conditioning effects in a long-running probability-based online panel of the general population through a large-scale experiment conducted in 2020. Our experiment was specifically designed to study the effect of intensifying the surveying frequency for the treatment group (N = 5,598 panel members) during a 16-week corona study while keeping the control group (N = 799 panel members) ...

Was ist die Aktienrente?

DIW-Ökonom Johannes Geyer erklärt, was es mit der Aktienrente auf sich hat und warum sie nicht die alleinige Lösung für die Zukunft des deutschen Rentensystems sein kann. Die gesetzliche Rentenversicherung steht vor einem Finanzierungsproblem, da zukünftig mehr Rentenbeziehende und weniger Beitragszahler zu erwarten sind. Dies wird voraussichtlich zu einem Anstieg des Beitragssatzes der...

15 Euro pro Stunde – und der Niedriglohnsektor wäre passé

Den Mindestlohn auf 15 Euro anheben? Das wäre gut für die Wirtschaft – trotz mancher Nachteile. Sollte der Mindestlohn auf 15 Euro erhöht werden? Bundeskanzler Olaf Scholz (SPD) hat sich hier klar positioniert, auch SPD-Chef Lars Klingbeil hat sich für eine Anhebung ausgesprochen. Bundesfinanzminister Christian Lindner (FDP) lehnt dies ab. Manche sehen die Wirtschaft als Leidtragende einer solchen ...

Explaining the Absence of Climate Change Integration in Low-Carbon Sectoral Policies: An Analysis of Brazil’s Maritime Cabotage Policy

Although maritime cabotage emits comparatively less CO2 per tonne kilometre than other means of transportation, the potential contribution of Brazil’s cabotage policy toward tackling climate change remained largely unexplored throughout its legislative process. Hence, to gather insights into how climate change can be integrated into sectoral policies, we apply Kingdon’s Multiple Streams Framework (MSF) ...

SOEP-Core v38.1 – COGDJ

Measurement Instruments for Fast and Frequent Data Collection during the Early Phase of COVID-19 in Germany: Reflections on the Mannheim Corona Study

The outbreak of the COVID-19 pandemic has led to a vast increase in the demand for fast, frequent, and multi-faceted data to study the impact of the pandemic on people’s lives. Existing data collection infrastructures had to be adapted quickly during the early phase of the pandemic to meet this data demand. Our research group contributed to this by conducting the Mannheim Corona Study (MCS), a longitudinal ...

Sanctions against Russian Gas Would Not Endanger EU or German Gas Supply

As a result of the Russian attack on Ukraine, natural gas prices skyrocketed in 2022 and Germany in particular felt the impact of its strong dependency on Russia. Prices have since relaxed, the European natural gas industry has overcome the uncertainty due to the energy crisis in 2022, and the industry also survived the slump in Russian natural gas imports without supply interruptions. However, Russia ...