The research on wealth inequality has generally focused on real and financial assets, while giving little attention to pension wealth: the present value of future pension entitlements from public and company pension schemes. This is surprising given the important role pension plans play in guaranteeing material security and well‐being for a majority of the population, and suggests that they should ...
Based on findings of an extensive empirical literature that mainly stem from high- income countries, economists often hypothesize that having more children, especially young ones, unambiguously decreases the time mothers spend in the labor market. Re- search on middle- and low-income countries is scarce, despite of several interesting aspects that are common to these countries and that potentially...
This paper examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under somecriteria. The policy works well in terms of smoothing the path of exchange rates, and in stabilizing the exchange rate in countries with narrow band regimes. Moving ...
This study quantifies the short-term distributional effects of the new statutory minimum wage in Germany. Using detailed survey data (German Socio-Economic Panel), we assess changes in the distributions of hourly wages, contractual and actual working hours, and monthly earnings. Our descriptive results indicate growth at the bottom of the hourly wage distribution in the post-reform year, but also considerable ...
We assess the short-term employment effects of the introduction of a national statutoryminimum wage in Germany in 2015. For this purpose, we exploit variation in the regionaltreatment intensity, assuming that the stronger a minimum wage “bites” into the regionalwage distribution, the stronger the regional labour market will be affected. In contrastto previous studies, we draw upon detailed individual ...
This study investigates professional social mobility, i.e., changes in one’s occupational status compared to that of their parents. It uses data from the German Socio-Economic Panel (Sozio-oekonomisches Panel, SOEP) on middle-aged, western Germans who were born between 1939 and 1971. On average, social status relative to parents has increased (absolute social mobility). However, looking at how positions ...
