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How Do Entrepreneurial Portfolios Respond to Income Taxation?

We investigate how personal income taxes affect the portfolio share of personal wealth that entrepreneurs invest in their own business. In a reformulation of the standard portfolio choice model that allows for underreporting of private business income to tax authorities, we show that a fall in the tax rate may increase investment in risky entrepreneurial business equity at the intensive margin, but ...

Stefan Seifert and Marica Valente receive Prize and Research Scholarship from the AAWE

Stefan Seifert and Marica Valente have been granted a research scholarship from the American Association of Economists (AAWE), as well as receiving a prize for their paper "An offer that you can’t refuse? Agrimafias and Migrant Labor on Vineyards in Southern Italy." Both were presented at the annual AAWE conference in Pedua, Italy. The dean of the GC, Prof. Weizsäcker, congratulates them ...

Workshop on TSO-DSO-PX Cooperation

Increasing shares of distributed energy resources create new questions on coordination between TSOs, DSOs and PX on facilitating and implementing wholesale markets, balancing and congestion management. For example, how to coordinate TSO and DSO requests on distributed flexibility for balancing and congestion management, and how to facilitate participation of distributed flexibility resources in...

The Impact of Competition Policy Enforcement on the Functioning of EU Energy Markets

We investigate the impact of competition policy enforcement on the functioning of European energy markets, and how sectoral regulation influences these outcomes. For this purpose, we compile a new dataset on the European Commission’s (EC) and EU member states’ competition policy decisions, and combine it with firm- and sector-level data. We find that EC merger policy has a positive and robust impact ...

“Living in Germany” – Our new SOEP brochure now available online!

Our new brochure “Living in Germany” offers a compact source of information about the kinds of research currently being done with SOEP data of the Socio-Economic Panel (SOEP) and key findings from these studies. In the brochure, we present a selection of research results with significant implications for society and policy making from the more than 7,000 papers published to date using ...

Worries across Time and Age in Germany: Bringing Together Open- and Close-Ended Questions

We investigate how worries in Germany change across time and age, drawing on both closed-ended questions (which typically list a number of worry items) and open-ended questions answered in text format. We find that relevant world events influence worries. For example, worries about peace peaked in 2003, the year of the Iraq War, with a considerable number of respondents also referring to the Iraq war ...

Towards an East German Wage Curve - NUTS Boundaries, Labour Market Regions and Unemployment Spillovers

The relevance of spatial effects in the wage curve can be rationalized by the model of monopsonistic competition in regional labour markets. However, distortions in extracting the regional unemployment effects arise in standard regional (i.e. NUTS) classifications as they fail to adequately capture spatial processes. In addition, the nonstationarity of wages and unemployment is often ignored. Both ...

The Effect of Private Health Insurance on Self-assessed Health Status and Health Satisfaction in Germany

In Germany, private health insurance covers more innovative and costly treatments than public insurance. Moreover, privately insured individuals are treated preferentially by doctors. In this article, I use subjective health data to examine whether these superior features of private insurance actually transfer into better health. I focus on German adolescents who are still in education to control for ...

Dynamic binary panel data models in presence of autocorrelation in the error term. A Monte-Carlo study

Dynamic panel data models are often applied to estimate the degree of state dependence. For instance, it has often been shown that there is state dependence in unemployment, i. e. unemployment in present causally increases the probability of unemployment in future. This paper uses Monte-Carlo simulations to compare several dynamic linear and nonlinear panel data models for binary dependent...

Social accountability and service delivery: Evidence from a large-scale experiment in Uganda