-
SOEPpapers 583 / 2013
This paper proposes a dynamic life cycle model of health risks, employment, early retirement, and wealth accumulation in order to analyze the health-related risks of consumption and old age poverty. In particular, the model includes a health process, the interaction between health and employment risks, and an explicit modeling of the German public insurance schemes. I rely on a dynamic programming ...
2013| Daniel Kemptner
-
SOEPpapers 530 / 2012
This paper studies the effect of attending a high-quality secondary school on subsequent educational outcomes. The analysis is based on data from the German Socio-Economic Panel Study in which we observe children when they make their secondary school choice (between ages 10-12) and later when they self-report on their intentions with regard to their further educational path (between ages 16-17). To ...
2012| Ronny Freier, Johanna Storck
-
SOEPpapers 482 / 2012
We assess the relevance of formal education for the productivity of the self-employed and distinguish between opportunity entrepreneurs, who voluntarily pursue a business opportunity, and necessity entrepreneurs, who lack alternative employment options. We expect differences in the returns to education between these groups because of different levels of control. We use the German Socio-economic Panel ...
2012| Frank M. Fossen, Tobias J. M. Büttner
-
SOEPpapers 408 / 2011
This paper extends the idea of using ex-ante risk measures in a model of precautionary savings by explicitly simulating future net-income risks. The uncertainty measure takes into account the interdependency of labour market status and health. The model is estimated for prime age males using the German Socio-Economic Panel Study for years 2001-2007. The empirical analysis is conducted using a measure ...
2011| Johannes Geyer
-
SOEPpapers 397 / 2011
The idea of higher wealth taxes to finance the mounting public debt in the wake of the financial crises is gaining ground in several OECD countries. We evaluate the revenue and distributional effects of a one-time capital levy on personal net wealth that is currently on the German political agenda. We use survey data from the German Socio-Economic Panel (SOEP) and estimate the net wealth distribution ...
2011| Stefan Bach, Martin Beznoska, Viktor Steiner
-
SOEPpapers 396 / 2011
How can public pension systems be reformed to ensure fiscal stability in the face of increasing life expectancy? To address this pressing open question in public finance, we estimate a life-cycle model in which the optimal employment, retirement and consumption decisions of forward-looking individuals depend, inter alia, on life expectancy and the design of the public pension system. We calculate that, ...
2011| Peter Haan, Victoria Prowse
-
SOEPpapers 375 / 2011
This is the first study investigating the causal effect of maternal education on child's health and schooling outcomes in Germany. We apply an instrumental variables approach that has not yet been used in the intergenerational context. For that purpose, we draw on a rich German panel data set (SOEP) containing information about three generations. This allows instrumenting maternal education by the ...
2011| Daniel Kemptner, Jan Marcus
-
SOEPpapers 369 / 2011
This paper systematically investigates whether different kinds of personality characteristics influence entrepreneurial development. On the basis of a large, representative household panel survey, we examine the extent to which the Big Five traits and further personality characteristics, which are more specifically related to entrepreneurial tasks, influence entry into self-employment and survival ...
2011| Marco Caliendo, Frank M. Fossen, Alexander S. Kritikos
-
SOEPpapers 358 / 2011
A personal bankruptcy law that allows for a "fresh start" after bankruptcy reduces the individual risk involved in entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy, lenders may charge higher interest rates or ration credit supply, which can hamper entrepreneurship. Both aspects of a more forgiving personal bankruptcy ...
2011| Frank M. Fossen
-
SOEPpapers 348 / 2010
Experimental evidence reveals that there is a strong willingness to trust and to act in both positively and negatively reciprocal ways. So far it is rarely analyzed whether these variables of social cognition influence everyday decision making behavior. We focus on entrepreneurs who are permanently facing exchange processes in the interplay with investors, sellers, and buyers, as well as needing to ...
2010| Marco Caliendo, Frank M. Fossen, Alexander S. Kritikos