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Wage Risk and Portfolio Choice: The Role of Correlated Returns

From standard portfolio-choice theory it is well-understood that background risk, overwhelmingly due to wage risk, is one of the central determinants of individuals’ portfolio composition: higher background risk reduces risky investments. However, if background risk is negatively correlated with financial market risk, higher background risk implies more risky investment. We quantify the influence of ...

The inefficiency of a monetary union with heterogeneous agents in the face of common shocks

Fiscal multipliers: do individuals make a difference?

SOEPcampus@Home: Online workshop October 14 and 15, 2021

In order to facilitate novel user's access to the rich data-source of the SOEP, we will host another online-workshop in October. The aim of the workshop is to familiarize novel users with the content and structure of the dataset, its potentials for social-scientific research and accompanying documentation matieral. Practical examples of data management will be discussed. The workshop will last two ...

German Social Cohesion Panel (SCP) of the Research Institute for Social Cohesion (RISC)

The Socio-Economic Panel (SOEP) at DIW Berlin and the University of Bremen are working together to develop a household panel study on the topic of social cohesion. The survey is being conducted by the infas Institute for Applied Social Science under the name “Zusammenleben in Deutschland,” or “Living Together in Germany.” The University of Bremen is taking part in the project as a participant in...

Labor-Intensive Firms Are a Catalyst for Monetary Policy and Its Distributive Effects

The mandate of the European Central Bank’s monetary policy is to ensure price stability. Interest rate changes by the ECB affect labor costs and the value added of firms. If both dimensions are not equally affected, monetary policy has a distributive effect between workers and shareholders. Balance sheet data from over two million companies in the euro area show that the labor costs in labor-intensive ...

SOEP-IS 2020 – Survey Report on the 2020 SOEP Innovation Sample on Social Cohesion (GZ)

Drivers of Participation Elasticities across Europe: Gender or Earner Role within the Household?

We compute participation tax rates across the EU and find that work disincentives inherent in tax-benefit systems largely depend on household composition and the individual's earner role within the household. We then estimate participation elasticities using an IV group estimator that enables us to investigate the responsiveness of individuals to work incentives. We contribute to the literature on ...

SOEPcampus@Home

The German Socio-Economic Panel Study is a representative panel study for the German population, collecting data on a broad variety of topics of everyday life, including general wellbeing, household composition, educational aspirations and educational status, income and occupational biographies, leisure time activities, housing, health, political orientation and more. With its long running panel...

DIETERpy: A Python Framework for the Dispatch and Investment Evaluation Tool with Endogenous Renewables

DIETER is an open-source power sector model designed to analyze future settings with very high sharesof variable renewable energy sources. It minimizes overall system costs, including fixed and variablecosts of various generation, flexibility and sector coupling options. Here we introduce DIETERpy thatbuilds on the existing model version, written in the General Algebraic Modeling System (GAMS),and ...