Externe referierte Aufsätze

Selection, Socialization, and Risk Preferences in the Finance Industry: Longitudinal Evidence for German Finance Professionals

The financial sector plays a crucial role in society. Consequently, prior research has examined the preferences of professionals working in finance. However, these studies have tended to be cross-sectional and have neglected the dynamic roles played by (self-)selection and socialization. This paper uses longitudinal data from Germany to examine how individuals’ financial risk preferences affect their ...

Uncertainties in Estimating Production Costs of Future Nuclear Technologies: A Model-based Analysis of Small Modular Reactors

Predicting future costs of technologies not yet developed is a complex exercise that includes many uncertain parameters and functional forms. In that context, small modular reactor (SMR) concepts that are in a rather early development stage claim to have cost advantages through learning effects, standardized design, modularization, co-siting economies, and other factors, such as better time-to-market ...

Bidirectional Coupling of the Long-term Integrated Assessment Model REgional Model of INvestments and Development (REMIND) v3.0.0 with the Hourly Power Sector Model Dispatch and Investment Evaluation Tool with Endogenous Renewables (DIETER) v1.0.2

Integrated assessment models (IAMs) are a central tool for the quantitative analysis of climate change mitigation strategies. However, due to their global, cross-sectoral and centennial scope, IAMs cannot explicitly represent the temporal and spatial details required to properly analyze the key role of variable renewable energy (VRE) in decarbonizing the power sector and enabling emission reductions ...

New Coal Mines in the Australian Galilee Basin Are Not Economically Viable and Are Prone to Become Stranded Assets

To limit the effects of climate change, we must significantly curtail the trading and use of coal as an energy source. Although the rise of renewable energy sources has already led to a reduction in the demand for and use of coal, new export-oriented coal mine projects are still being approved, and they often receive strong political support. However, whether these projects are economically viable ...

Competition and Moral Behavior: A Meta-Analysis of Forty-Five Crowd-Sourced Experimental Designs

Does competition affect moral behavior? This fundamental question has been debated among leading scholars for centuries, and more recently, it has been tested in experimental studies yielding a body of rather inconclusive empirical evidence. A potential source of ambivalent empirical results on the same hypothesis is design heterogeneity—variation in true effect sizes across various reasonable experimental ...

Risk Preference and Entrepreneurial Investment at the Top of the Wealth Distribution

This study quantifies the distributional effects of the minimum wage introduced in Germany in 2015. Using detailed Socio-Economic Panel survey data, we assess changes in the hourly wages, working hours, and monthly wages of employees who were entitled to be paid the minimum wage. We employ a difference-in-differences analysis, exploiting regional variation in the “bite” of the minimum wage. At the ...

Hours Risk and Wage Risk: Repercussions over the Life Cycle

We decompose earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks, modeled as innovations to the marginal disutility of work, and labor supply reactions to wage shocks, we formulate a life-cycle model of consumption and labor supply. For estimation, we use data on married American men from the Panel Study of Income Dynamics. Permanent wage shocks explain ...

The Impact of the Tax Reduction on Fuel Prices in Germany: A Synthetic Difference-in-Differences Approach

We analyse the impact of the temporary tax reduction on diesel and gasoline prices from June to the end of August 2022 in Germany. By implementing a synthetic difference-in-differences approach with different baskets of European countries, we find a significant reduction in prices by 33.8–34.4 cents per litre for gasoline and 12.2–14.6 cents per litre for diesel. These results are robust to variations ...

Spatial Patterns of Recent Ukrainian Refugees in Germany: Administrative Dispersal and Existing Ethnic Networks

Since the beginning of the Russian invasion of Ukraine on February 24, 2022, many people have fled the war and left their home country. By the end of January 2023, more than one million Ukrainian refugees had been registered in Germany alone. In contrast to refugees from other countries of origin in Germany, Ukrainian citizens can choose their place of residence if they have either found private accommodation ...

Ukrainian Refugees in Germany: Evidence From a Large Representative Survey

This study describes the first wave of the IAB-BiB/FReDA-BAMF-SOEP Survey on Ukrainian Refugees in Germany, a unique panel dataset based on over 11,000 interviews conducted between August and October 2022. The aim of the IAB-BiB/FReDA-BAMF-SOEP Survey is to provide a data-infrastructure for theory-driven and evidence-based research on various aspects of integration among Ukrainian refugees in Germany, ...

Intangible Capital and Productivity Divergence

Understanding the causes of the slowdown in aggregate productivity growth is key to maintaining the competitiveness of advanced economies and ensuring long-term economic prosperity. This paper provides evidence that investment in intangible capital, despite having a positive effect on productivity at the micro level, is a driver of the weak productivity performance at the aggregate level as it amplifies ...

Changes in Risk Attitudes Vary across Domains throughout the Life Course

Risk attitudes are important predictors of various economic decisions and socioeconomic outcomes. Although studies show that peoples’ general willingness to take risks decreases with age, there are few reports on the age dependence of domain-specific risk attitudes. Drawing on the Socio-Economic Panel (SOEP), this study employs a proxy variable approach to disentangle age from periodic and cohort effects, ...

Self-Efficacy and Entrepreneurial Performance of Start-Ups

Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and ...

Sin Taxes and Self-Control

According to theory, "sin taxes" are welfare improving if consumers with low self-control respond at least as much to the tax as consumers with high self-control. We investigate empirically if demand response to soft drink and fat tax variations in Denmark depends on consumers' self-control. We use a unique home-scan panel that includes a survey measure of self-control. When taxes increase, consumers ...

Codevelopment of Life Goals and the Big Five Personality Traits across Adulthood and Old Age

Since the new millennium, research in the field of personality development has focused on the stability and change of basic personality traits. Motivational aspects of personality and their longitudinal association with basic traits have received comparably little attention. In this preregistered study, we applied bivariate latent growth curve model to investigated the codevelopment of nine life goals ...

SOEP-LEE2: Linking Surveys on Employees to Employers in Germany

This article presents the new linked employee-employer study of the Socio-Economic Panel (SOEP-LEE2), which offers new research opportunities for various academic fields. In particular, the study contains two waves of an employer survey for persons in dependent work that is also linkable to the SOEP, a large representative German annual household panel (SOEP-LEE2-Core). Moreover, SOEP-LEE2 includes ...

The Impact of Public Procurement on Financial Barriers to General and Green Innovation

This study investigates whether public procurement mitigates or exacerbates innovative enterprises’ financial constraints. We distinguish between general and environmentally beneficial innovative enterprises. Theory suggests that the treatment effects of public procurement, particularly when mediated by the demand-pull effect, may lower a company’s funding constraints for innovation. We test this theory ...

Working Life and Human Capital Investment: Causal Evidence from a Pension Reform

Should Mama or Papa Work? Variations in Attitudes towards Parental Employment by Country of Origin and Child Age

Employment among mothers has been rising in recent decades, although mothers of young children often work fewer hours than other women do. Parallel to this trend, approval of maternal employment has increased, albeit not evenly across groups. However, differences in attitudes remain unexplored despite their importance for better understanding mothers’ labour market behaviour. Meanwhile, the employment ...

Transactional Effects between Personality and Religiosity

Do changes in religiosity beget changes in personality, or do changes in personality precede changes in religiosity? Existing evidence supports longitudinal associations between personality and religiosity at the between-person level, such that individual differences in personality predict subsequent individual differences in change in religiosity. However, no research to date has examined whether ...