This paper analyzes the impact of women's managerial representation on the gender pay gap among subordinates on the establishment level using German Linked-Employer-Employee-Data. For identification of a causal effect we employ two estimation strategies: 1) a panel model with establishment fixed effects and 2) an event study estimation around a discrete shift in managerial representation. We find...
The European Commission is facing the challenge and opportunity of implementing the Green Deal while simultaneously initiating the recovery of the economy following the coronavirus crisis. Investments in the basic materials industry’s transition to climate neutrality play a central role in this, as the sector is responsible for 16 percent of the EU’s CO2 emissions and is key to downstream value chains. ...
This paper tests the conjecture that involuntary job loss erodes trust. Using the German Socio-Economic Panel and considering how trust evolves over a quinquennial time interval, we find that job loss decreases trust by about 9 percent of a standard deviation.
We study the relationship between crowding and performance in the active mutual fund industry. We construct a fund-specific measure of crowding using the equity holdings overlap of 17,364 global funds. Funds in the top decile of crowding underperform passive benchmark funds by 1.4% per year. The impact of crowding on performance cannot be attributed to diseconomies of scale. We explore several mechanisms: ...
The project analyses the effects of the statutory minimum wage on poverty in Germany. We use the Socio-Economic Panel (SOEP) to examine the development of income poverty. Using a microsimulation model, the project studies the effect of minimum wages on social benefits.
