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  • DIW Wochenbericht 29 / 2020

    MillionärInnen sind zufriedener mit ihrem Leben als der Durchschnitt der Bevölkerung: Interview

    2020| Johannes König, Erich Wittenberg
  • DIW Wochenbericht 29 / 2020

    MillionärInnen unter dem Mikroskop: Datenlücke bei sehr hohen Vermögen geschlossen – Konzentration höher als bisher ausgewiesen

    Personen mit Vermögen in Millionenhöhe waren bislang in Bevölkerungsbefragungen kaum vertreten – entsprechend wenig wusste man über sie. Auch blieb das exakte Ausmaß der Vermögenskonzentration unklar. Das Sozio-oekonomische Panel (SOEP) hat nun eine Spezialstichprobe integriert, in der Menschen mit hohen Vermögen stark überrepräsentiert sind, um die bisherige Datenlücke zu schließen. Neue Berechnungen ...

    2020| Carsten Schröder, Charlotte Bartels, Konstantin Göbler, Markus M. Grabka, Johannes König
  • DIW Weekly Report 30/31 / 2020

    Millionaires under the Microscope: Data Gap on Top Wealth Holders Closed: Wealth Concentration Higher than Presumed

    Individuals with assets in the millions of euros have been underrepresented in population surveys and accordingly little has been known about them. As a result, the full extent of wealth concentration in Germany was unknown. To close the existing data gap, the Socio-Economic Panel (SOEP) integrated a special sample in which individuals with high assets are overrepresented. New calculations using this ...

    2020| Carsten Schröder, Charlotte Bartels, Konstantin Göbler, Markus M. Grabka, Johannes König
  • Diskussionspapiere 2066 / 2023

    Routes to the Top

    Who makes it to the top? We use the leading, socio-economic survey in Germany supplemented by extensive data on the rich to answer this question. We identify the key predictors for belonging to the top 1 percent of income, wealth, and both distributions jointly. Although we consider many, only a few traits matter: Entrepreneurship and self-employment in conjunction with a sizable inheritance of company ...

    2023| Johannes König, Christian Schluter, Carsten Schröder
  • Diskussionspapiere 1974 / 2021

    Wage Risk and Portfolio Choice: The Role of Correlated Returns

    From standard portfolio-choice theory it is well-understood that background risk, overwhelmingly due to wage risk, is one of the central determinants of individuals’ portfolio composition: higher background risk reduces risky investments. However, if background risk is negatively correlated with financial market risk, higher background risk implies more risky investment. We quantify the influence of ...

    2021| Johannes König, Maximilian Longmuir
  • Diskussionspapiere 1845 / 2020

    Hours Risk and Wage Risk: Repercussions over the Life-Cycle

    We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks, modeled as innovations to the marginal disutility of work, and labor supply reactions to wage shocks we formulate a life-cycle model of consumption and labor supply. Both permanent wage and hours shocks are important to explain earnings risk, but wage shocks have greater relevance. ...

    2020| Robin Jessen, Johannes König
  • Diskussionspapiere 1446 / 2015

    Public Health Insurance and Entry into Self-Employment

    We estimate the impact of a differential treatment of paid employees versus self-employed workers in a public health insurance system on the entry rate into entrepreneurship. In Germany, the public health insurance system is mandatory for most paid employees, but not for the self-employed, who usually buy private health insurance. Private health insurance contributions are relatively low for the young ...

    2015| Frank M. Fossen, Johannes König
  • SOEPpapers 1194 / 2023

    Artificial Intelligence and Workers’ Well-being

    This study explores the relationship between artificial intelligence (AI) and workers’ well-being and mental health using longitudinal survey data from Germany (2000-2020). We construct a measure of individual exposure to AI technology based on the occupation in which workers in our sample were first employed and explore an event study design and a difference-in-differences approach to compare AI-exposed ...

    2023| Osea Giuntella, Johannes König, Luca Stella
  • SOEPpapers 1193 / 2023

    Inequality of Opportunity in Wealth: Levels, Trends, and Drivers

    While inequality of opportunity (IOp) in earnings is well studied, the literature on IOp in individual net wealth is scarce to non-existent. This is problematic because both theoretical and empirical evidence show that the position in the wealth and income distribution can significantly diverge. We measure ex-ante IOp in net wealth for Germany using data from the Socio-Economic Panel (SOEP). Ex-ante ...

    2023| Daniel Graeber, Viola Hilbert, Johannes König
  • SOEPpapers 1117 / 2021

    Risk Preference and Entrepreneurial Investment at the Top of the Wealth Distribution

    We present first evidence how individual risk preferences shape entrepreneurial investment among the very wealthy using novel survey data from the top of the wealth distribution, which have been added to the 2019 German Socio-economic Panel Study. The data include private wealth balance sheets, in particular the value of own private business assets, and a standard measure of risk tolerance. We ...

    2021| Frank M. Fossen, Johannes König, Carsten Schröder