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Referierte Aufsätze Web of Science
In many countries organized as federations, fiscal equalization schemes have been implemented to mitigate vertical or horizontal imbalances. Such schemes usually imply that the member states of the federation can only partly internalize (marginal) tax revenue before redistribution. Aside from the internalized marginal revenue, referred to as the marginal tax-back rate, the remainder is redistributed. ...
In:
German Economic Review
18 (2017), 3, S. 377-409
| Timm Bönke, Beate Jochimsen, Carsten Schröder
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Referierte Aufsätze Web of Science
In a meta-analysis of 126 impact evaluation studies, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lower-middle–income ...
In:
The World Bank Economic Review
31 (2017), 3, S. 611-630
| Tim Kaiser, Lukas Menkhoff
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Referierte Aufsätze Web of Science
We provide an in-depth theoretical discussion about the differences between individual-specific latent constructs (representing attitudes, for example, but also other characteristics such as values or personality traits) and alternative-specific latent constructs (that may represent perceptions) affecting the choice-making process of individuals; we also carry out an empirical exercise to analyze their ...
In:
Transportation : Planning, Policy, Research, Practice
44 (2017), 3, S. 475-493
| Francisco J. Bahamonde-Birke, Uwe Kunert, Heike Link, Juan de Dios Ortúzar
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Referierte Aufsätze Web of Science
This paper complements evidence on the Allais paradox from advanced countries and educated people by a novel investigation in a poor rural area. The share of Allais-type behavior is indeed high and related to indicators of “lacking ability,” such as poor education, unemployment, and little financial sophistication. Based on prospective reference theory, we extend these characteristics by biased processing ...
In:
Journal of Risk and Uncertainty
54 (2017), 2, S. 129-156
| Tabea Herrmann, Olaf Hübner, Lukas Menkhoff, Ulrich Schmidt
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Referierte Aufsätze Web of Science
We use a tailor-made survey on a Swedish sample to investigate how individuals' relative income affects their demand for redistribution. We first document that a majority misperceive their position in the income distribution and believe that they are poorer, relative to others, than they actually are. We then inform a subsample about their true relative income and find that individuals who are richer ...
In:
The Review of Economics and Statistics
99 (2017), 2, S. 201-212
| Mounir Karadja, Johanna Mollerstrom, David Seim
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Referierte Aufsätze Web of Science
We assess the properties of currency value strategies based on real exchange rates. We find that real exchange rates have predictive power for the cross-section of currency excess returns. However, adjusting real exchange rates for key country-specific fundamentals (productivity, the quality of export goods, net foreign assets, and output gaps) better isolates information related to the currency risk ...
In:
The Review of Financial Studies
30 (2017), 2, S. 416-441
| Lukas Menkhoff, Lucio Sarno, Maik Schmeling, Andreas Schrimpf
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Referierte Aufsätze Web of Science
This paper estimates sibling correlations in cognitive and non-cognitive skills to evaluate the importance of family background for skill formation. Based on a large representative German dataset including IQ test scores and measures of non-cognitive skills, a restricted maximum likelihood model indicates a strong relationship between family background and skill formation. Sibling correlations in non-cognitive ...
In:
Journal of Population Economics
30 (2017), 2, S. 591-620
| Silke Anger, Daniel D. Schnitzlein
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Referierte Aufsätze Web of Science
Fundamental changes to security policy in European democracies raise the question of the acceptance of new security measures. This paper aims to explain why new measures are accepted (or not). It combines three core elements that are typically analysed separately in the literature: individual attitudes (especially trust), social context and cost/benefit balancing. Comparing Germany and the UK, the ...
In:
German Politics
26 (2017), 2, S. 292-313
| Mathias Bug, Sebastian Bukow
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Referierte Aufsätze Web of Science
The creation of adequate investment incentives has been of great concern in the restructuring of the electricity sector. However, to achieve this, regulators have applied different market designs across countries and regions. In this paper we employ laboratory methods to explore the relationship between market design, capacity provision and pricing in electricity markets. Subjects act as firms, choosing ...
In:
Journal of Regulatory Economics
51 (2017), 2, S. 123-158
| Chloé Le Coq, Henrik Orzen, Sebastian Schwenen
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Referierte Aufsätze Web of Science
While cash housing benefits are generally included in household disposable income, the effect of social housing is not accounted for. This may provide a misleading picture of the impact of overall housing policies on inequality and poverty, as countries use different policies to help households meet their housing expenses. In this article, we present the first comprehensive study of the impact of in-kind ...
In:
Journal of Housing and the Built Environment
32 (2017), 2, S. 289-312
| Gerlinde Verbist, Markus M. Grabka