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The Effect of Pension Reforms on Old-Age Income Inequality

Many OECD countries are raising the normal retirement age (NRA), thereby, making early retirement more costly. Whereas such reforms incentivize individuals to work longer, labor market frictions might partly undermine intended behavioral responses. Employing administrative data of West German men, I estimate a dynamic discrete choice model of work, unemployment and retirement allowing for labor market ...

The Prosociality of Intuitive Decisions Depends on the Status Quo

Previous research came to contradictory conclusion about the prosocial nature of intuitive decisions, as compared to deliberate decisions. This paper proposes the prosociality of the status quo allocation as a determinant of the prosociality of intuitive decisions. I present results from two experiments (N = 1,649) that manipulate time pressure and elicit response times in a binary dictator game. One ...

Welfare Effects of TTIP in a DSGE Model

We analyze the welfare effects of the Transatlantic Trade and Investment Partnership (TTIP) between the United States (US) and the European Union (EU). Earlier TTIP studies analyze welfare effects in a framework where output and welfare coincide. We believe that the utility function of households, which depends on consumption and employment, is the best criterion for assessing TTIP. We measure the ...

Are Political Representatives More Risk-Loving Than the Electorate? Evidence from German Federal and State Parliaments

Political representatives frequently make decisions with far-reaching implications for citizens and societies. Most of these decisions are choices in situations in which the probabilities of gains and losses are hard to estimate. Although decision-making is crucial to politics, existing research has hardly ever addressed the political representation of traits that notably influence decision-making. ...

Relations among Maternal Life Satisfaction, Shared Activities, and Child Well-Being

Maternal well-being is assumed to be associated with well-being of individual family members, optimal parenting practices, and positive developmental outcomes for children. The objective of this study was to examine the interplay between maternal well-being, parent-child activities, and the well-being of 5- to 7-year-old children. In a sample of N = 291 mother-child dyads, maternal life satisfaction, ...

Outcomes of Unemployment Episodes during Early Career for Mismatched Workers in the United Kingdom and Germany and the Mediating Effects of Education and Institutions

Our research challenges the traditional view that unemployment is an unequivocal negative event in working life. We argue that depending on workers’ educational attainment and on national-specific institutional settings unemployment might have different implications on young workers who begin their employment careers in low occupational positions. The strongly skill-based and rigid labour market in ...

The Dynamic Impact of Macroeconomic News on Long-Term Inflation Expectations

Well-anchored inflation expectations should not react to macroeconomic news. This paper analyzes the dynamics of inflation expectations in a proxy SVAR model, where macro news shocks are identified by their correlation with surprises from macroeconomic news announcements. Our results confirm that macro news shocks have no impact on U.S. long-term inflation expectations in the long run. In the short ...

A Review of Technology and Policy Deep Decarbonization Pathway Options for Making Energy-Intensive Industry Production Consistent with the Paris Agreement

Pathways between Socioeconomic Status and Health: Does Health Selection or Social Causation Dominate in Europe?

Health differences which correspond to socioeconomic status (SES) can be attributed to three causal mechanisms: SES affects health (social causation), health affects SES (health selection), and common background factors influence both SES and health (indirect selection). Using retrospective survey data from 10 European countries (SHARELIFE, n = 20,227) and structural equation models in a cross-lagged ...

The Valley of Death, the Technology Pork Barrel, and Public Support for Large Demonstration Projects

Moving non-incremental innovations from the pilot scale to full commercial scale raises questions about the need and implementation of public support. Heuristics from the literature put policy makers in a dilemma between addressing a market failure and acknowledging a government failure: incentives for private investments in large scale demonstrations are weak (the valley of death) but the track record ...