In this paper we exploit a cohort-specific pension reform to estimate the labour market effects of changes in the financial incentives to retire. In particular, we analyse the effects of the introduction of cohort-specific deductions for early retirement on female retirement, employment and unemployment. For the empirical analysis we use high-quality administrative data from the German pension insurance. ...
Tomaso Duso, Head of the Department Firms and Markets at DIW Berlin, and Hannes Ullrich, Research Associate at the Department Firms and Markets, were nominated Research Fellows in the newly established Research Area Economics of Digitization of the CESifo research network. The Economics of Digitization Area of the CESifo research network is organised by Stephen P. Ryan, Olin Business School. The area ...
This paper investigates the degree of persistence of market fear. Specifically, two different long-memory approaches (R/S analysis with the Hurst exponent method and fractional integration) are used to analyse persistence of the VIX index over the sample period 2004-2016, as well as some sub-periods (pre-crisis, crisis and post-crisis). The findings indicate that its properties change over time: in ...
