Devising appropriate policy measures to integrate refugees is high on the agenda of many governments. This paper focuses on the integration of families seeking asylum in Germany between 2013 and 2016. Exploiting regional differences in early childhood education and care (ECEC) services and dispersal policies as exogenous sources of variation, as well as controlling for local level heterogeneity that ...
Using a wide variety of business cycle dating and filtering techniques, this paper documents the cyclical behavior of the post-tax income distribution in the US. First, all incomes are cyclical and co-move with the business cycle. Second, lower and higher income individuals experience significantly larger fluctuations across the business cycle than middle-income individuals. Third, these fluctuations ...
To limit global warming to 1.5 degrees Celsius, it is necessary for industrialized countries to support developing countries financially. The channels and mechanisms under which this support would be provided are known as International Climate Finance. Building upon expert interviews with a focus on the industrial sector, this report analyses the different areas of International Climate Finance and ...
This paper examines the role of sovereign default beliefs for macroeconomic fluctuations and stabilization policy in a small open economy where fiscal solvency is a critical problem. We set up and estimate a DSGE model on Turkish data and show that accounting for sovereign risk significantly improves the fit of the model through an endogenous amplification between default beliefs, exchange rate and ...
The aim of the project SOEP-RV is to link data from participants in the German Socio-Economic Panel (SOEP) survey to their individual Deutsche Rentenversicherung (German Pension Insurance) records. For all SOEP respondents who give explicit consent to record linkage, SOEP-RV creates a linked dataset that combines the comprehensive multi-topic SOEP data with detailed cross-sectional and longitudinal ...
We study response behavior in surveys and show how the explanatory power of self-reports can be improved. First, we develop a choice model of survey response behavior under the assumption that the respondent has imperfect self-knowledge about her individual characteristics. In panel data, the model predicts that the variance in responses for different characteristics increases in self-knowledge and ...
We propose a broadly applicable empirical approach to classify individuals as time-consistent versus native or sophisticated regarding their self-control limitations. Operationalizing our approach based on nationally representative data reveals that self-control problems are pervasive and that most people are at least partly aware of their limited self-control. Compared to naifs, sophisticates have ...
Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the basic New Keynesian model. By providing firm-level evidence, we are first to validate this proposition. Using local projections and high dimensional fixed effects, we show that a one standard deviation contractionary monetary policy shock decreases firms' labor share by 0.4 percent, ...
