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DIW Discussion Papers 1722 / 2018
We study the state-dependent trading behavior of financial intermediaries in the oil futures market, using structural vector autoregressions with Markov switching in heteroskedasticity. We decompose changes in futures price volatility into changes in the slopes of traders' demand curves and in the variability of their demand shocks. We find that the downward-sloping demand curve of intermediaries steepens ...
2018| Daniel Bierbaumer, Malte Rieth, Anton Velinov
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DIW Discussion Papers 1721 / 2018
We study the characteristics of inflation targeting as a shock absorber, using quarterly data for a large panel of countries. To overcome an endogeneity problem between monetary regimes and the likelihood of crises, we propose to study large natural disasters. We find that inflation targeting improves macroeconomic performance following such exogenous shocks. It lowers inflation, raises output growth, ...
2018| Marcel Fratzscher, Christoph Grosse Steffen, Malte Rieth
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Video
Every year, more than 30,000 people are interviewed for the SOEP study. Without their commitment and the professionalism of the interviewers working for Kantar Public, the survey institute, the SOEP would not be as successful as it is today. Interviewer Andrea Schüle has been working for “Living in Germany”, as the survey is known to respondents, for over 10 years. We introduce...
13.02.2018
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SOEPpapers 954 / 2017
In numerous industrialized countries the demographic change erodes the financial basis of traditional pay-as-you-go pension systems. To compensate for decreasing statutory pensions, many governments incentivize private saving by meansof subsidized retirement plans. In this context, Germany introduced the so-called Riester pension plans. To assess its effectiveness, this paper analyzes the effects of ...
2017| Dorothee Ihle
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Report
We are happy to announce that GC students across all cohorts have voted for Daniel Graeber (GC class 2015) and Felicitas Schikora (GC class 2016) as their new representatives in 2018!
We thank Marica and Daniel for their excellent work last year and look forward to a continued great collaboration with the new representatives.
The two Student’s Representatives serve as spokespersons for the ...
15.02.2018
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SOEPpapers 951 / 2017
The notion of person-environment fit implies that personal and contextual factors interact in influencing important life outcomes. Using data from 8,458 employed individuals, we examined the combined effects of individuals' actual personality traits and jobs’ expert-rated personality demands on earnings. Results from a response surface analysis indicated that the fit between individuals’ actual personality ...
2017| Jaap J. A. Denissen, Wiebke Bleidorn, Marie Hennecke, Maike Luhmann, Ulrich Orth, Jule Specht, Julia Zimmermann
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Refereed essays Web of Science
In this paper, we present sibling and neighbor correlations in school grades and cognitive skills, as well as indicators of physical and mental health, for a sample of German adolescents. In a first step, we estimate sibling correlations and find a substantial influence of shared family and community background on all outcomes. To further disentangle the influence of family background and neighborhood, ...
In:
Journal of Economic Inequality
16 (2018), 3, S. 369-388
| Elisabeth Bügelmayer, Daniel D. Schnitzlein
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Refereed essays Web of Science
The widely established health differences between people with greater economic resources and those with fewer resources can be attributed to both social causation (material factors affecting health) and health selection (health affecting material wealth). Each of these pathways may have different intensities at different ages, because the sensitivity of health to a lack of material wealth and the degree ...
In:
European Journal of Ageing
15 (2018), 4, S. 379-391
| Rasmus Hoffmann, Hannes Kröger, Eduwin Pakpahan
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DIW Roundup 121 / 2018
The macroeconomic effects of exchange rate movements have been subject to an extensive debate in international economics. Traditionally, much of the discussion was focused on the relation between the effective exchange rate and the trade balance. However, the process of financial globalization has led to a sharp increase in foreign asset and liability positions across countries and also to a greater ...
2018| Pablo Anaya, Stefan Hasenclever
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Press Release
In important areas such as tax policy, education, and energy, the future grand coalition must be considerably more ambitious – The need for reform in Germany is not being addressed sufficiently
Germany’s next government will most likely once again be a grand coalition. However, the results of the preliminary coalition talks between the Union parties and the SPD, which serve as a basis ...
31.01.2018