We test the stability of locus of control, a measure that has been attributed substantial explanatory power for economic outcomes since it depicts how much people believe in their ability to affect life outcomes. Using the German Socio-Economic Panel, we find that a job loss due to a plant closure has no long-lasting effect on locus of control. The common assumption of its stability is thus not rejected. ...
This article analyses the savings behaviour of natives and immigrants in Germany. It is argued that uncertainty about future income and legal status (in case of immigrants) is a key component in the determination of the level of precautionary savings. Using the German dataset, we exploit a natural experiment arising from a change in the nationality law in Germany to estimate the importance of precautionary ...
Is there a relationship between political participation and individual life satisfaction? The idea that political participation makes people more satisfied with their lives has long been debated. However, the existing empirical research has not been very successful in demonstrating that such a relationship exists while some studies show that instead it is individual life satisfaction that impacts political ...