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DIW Discussion Papers 1365 / 2014
This paper explores the long run relationship between public and private investment in the euro area in terms of capital stocks and gross investment flows. Panel techniques accounting for international spillovers are employed. While private and public capital stocks are cointegrated, the evidence is quite fragile for public and private investment flows. They enter a long run relationship only after ...
2014| Christian Dreger, Hans-Eggert Reimers
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Press Release
People are investing their life savings in financial products, for instance, to provide for their retirement, and in doing so they are making their future financial situation almost entirely dependent on the success of these investments. The financial sector promotes numerous investment opportunities with widely varying levels of risk - from the classic private pension insurance to high-risk equity ...
26.02.2014
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Press Release
According to current analyses based on the Socio-Economic Panel Study (SOEP), the total net assets of German households in 2012 amounted to 6.3 trillion euros. Almost 28 percent of the adult population had no or even negative net worth. On average, individual net worth in 2012 totaled more than 83,000 euros; that is slightly more than ten years previously. The degree of wealth inequality remained virtually ...
26.02.2014
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SOEPpapers 630 / 2014
Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky future income paths and therefore depends on risk and time preferences. In contrast to experimental settings, ...
2014| Frank M. Fossen, Daniela Glocker
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SOEPpapers 631 / 2014
This paper applies semiparametric regression models to shed light on the relation-ship between body weight and labor market outcomes in Germany. We find conclusive evidence that these relationships are poorly described by linear or quadratic OLS specifications, which have been the main approaches in previous studies. Women's wages and employment probabilities do not follow a linear relationship and ...
2014| Marco Caliendo, Markus Gehrsitz
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SOEPpapers 632 / 2014
Fuel poverty measurement consists of two independent parts: firstly, the definition of an adequate fuel poverty line, and secondly, techniques to measure fuel poverty. This paper reviews options for the definition of fuel poverty lines and techniques for fuel poverty measurement. Based on household data from Germany, figures that would result from different fuel poverty lines are derived. Different ...
2014| Peter Heindl
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DIW Discussion Papers 1364 / 2014
How do banks choose their debt maturity structure when credit markets are subject to information frictions? This paper proposes a model of equilibrium maturity choice with asymmetric information and endogenous roll-over risk. We show that in the presence of public signals about firms' creditworthiness (credit ratings), firms choose to expose themselves to positive roll-over risk in order to minimize ...
2014| Philipp König, David Pothier
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Research Project
Europe is not alone in taking action to price carbon and promote low-carbon energy and risks undermining its future competitiveness by slipping back as a group of other countries emerge to drive the development of low-carbon technologies. The study finds that Europe’s competitors, including China, India and the United States, have been steadily investing in low-carbon technologies and energy...
Completed Project| Climate Policy
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Research Project
We use an indicator system for the ranking of German Federal States with regard to the development of renewable energy. Political efforts and success factors are measured by composite input and output indicators for the use of renewable energy and the supply of renewable energy technologies.
Completed Project| Energy, Transportation, Environment
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SOEPpapers 627 / 2014
Germany's occupational and sectoral change towards a knowledge-based economy calls for high returns to education. Nevertheless, female graduates are paid much less than their male counterparts. We wonder whether overeducation affects sexes differently and whether this might answer for part of the gender pay gap. We decompose total year of schooling in years of over- (O), required (R), and undereducation ...
2014| Christina Boll, Julian Sebastian Leppin