The Bonn Intervention Panel (BIP) investigates the development of personality and preferences of children starting at the primary school age until age 25 and beyond. Main focus of our study is the impact of early childhood environment. In particular, we experimentally vary the childhood environment in our sample by giving a randomly chosen subgroup of the sample the opportunity to take part in a...
We propose a new instrument to identify the impact of uncertainty shocks in a SVAR model with external instruments. We construct the instrument for uncertainty shocks by exploiting variations in the price of gold around selected events. The events capture periods of changes in uncertainty unrelated to other macroeconomic shocks. The variations in the price of gold around such events provide a measure ...
In this paper, we analyze the impact fiscal policy rules have on budget deficits and forecasting biases in official budget outlooks. Persistent budget deficits and over-optimistic budget forecasts have been observed in many countries in the past, especially in the euro area. To prevent such developments from happening in the future, fiscal rules have been revised or implemented with the aim to strengthen ...
We evaluate alternative models of the volatility of commodity futures prices based on high-frequency intraday data from the crude oil futures markets for the October 2001–December 2012 period. These models are implemented with a simple GMM estimator that matches sample moments of the realized volatility to the corresponding population moments of the integrated volatility. Models incorporating both ...
Proportion of tutored students nearly twice as high as 15 years ago – household income becoming a less influential factor – parental migration background no longer determines participation – nevertheless, educational inequalities persist More and more schoolchildren in Germany are using private tutoring: 47 percent of the 17-year-olds who were interviewed between 2009 and 2013 reported ...
Can risk-taking propensity be thought of as a trait that captures individual differences across domains, measures, and time? Studying stability in risk-taking propensities across the lifespan can help to answer such questions by uncovering parallel, or divergent, trajectories across domains and measures. We contribute to this effort by using data from respondents aged 18 to 85 in the German Socio-Economic ...
With the large-scale deployment of Information and Communication Technologies markets for products and services related to personal data and privacy are thriving. Yet, to date, there has been little effort to systematically map these markets. In this IPACSO White Paper, a methodology is proposed that enables a systematic horizontal as well as vertical analysis of markets for personal data and privacy-related ...
One of the most popular questions in information security economics is whether there are any special features relating to privacy and cyber-security products and services that separate these from traditional goods, like apples or cars. This paper is a contribution to this discussion. First, different goods and services are compared to assess whether privacy and cyber-security are in fact different. ...
