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Refereed essays Web of Science
Different options for a reform of the EU Emissions Trading System are discussed to ensure carbon price incentives for mitigation options in the basic materials sector, while minimizing carbon leakage risks. This paper quantifies carbon leakage risks, distributional implications, and additional revenues associated with an import-only border carbon adjustment (BCA), a symmetric (import and export) BCA, ...
In:
Ecological Economics
189 (2021), 107168, 15 S.
| Jan Stede, Stefan Pauliuk, Gilang Hardadi, Karsten Neuhoff
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DIW Weekly Report 40 / 2021
Introduced 20 years ago as a part of the 2001 pension reform, the Riester pension is meant to function as an essential component of the German pension system with the aim of compensating for decreasing public pensions. However, data collected by the SOEP show that this objective has not yet been achieved. For ten years, use of the Riester pension plan has been stagnating at around 25 percent of the ...
2021| Johannes Geyer, Markus M. Grabka, Peter Haan
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SOEPpapers 1147 / 2021
Single mothers often experience precarious financial conditions. However, it is not fully understood to what extent separation is the cause of these conditions versus being their consequence. Estimating an endogenous switching regression model based on a sample of 626 separated and 5,525 non-separated mothers drawn from the German Socio-Economic Panel (SOEP) 1984-2018, we disentangle the roles of causation ...
2021| Antonia Birkeneder, Christina Boll
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SOEPpapers 1143 / 2021
Usually, it is expected that income increases life satisfaction. In recent years tough, research emerged that shows how subjective well-being, including satisfaction, influences objective measures, as for example income. This would then require explicit identification strategies for estimating effects of income on life satisfaction. I address this issue using German SOEP data and Lewbel’s (2012) method, ...
2021| Susanne Elsas
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Diskussionspapiere 1974 / 2021
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
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SOEPpapers 1145 / 2021
Literature encompassing economic insecurity and its relationship with mental health has increased significantly in recent years. While the association of job insecurity and mental health has been researched extensively, less is known about the general relationship between economic insecurity and mental health. This paper analyses the simultaneous influence of six different economic insecurity indicators ...
2021| Paul Fiedler
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Diskussionspapiere 1967 / 2021
Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the basic New Keynesian model. By providing firm-level evidence, we are first to validate this proposition. Using local projections and high dimensional fixed effects, we show that a one standard deviation contractionary monetary policy shock decreases firms' labor share by 0.4 percent, ...
2021| Jan Philipp Fritsche, Lea Steininger
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Diskussionspapiere 1964 / 2021
Using a wide variety of business cycle dating and filtering techniques, this paper documents the cyclical behavior of the post-tax income distribution in the US. First, all incomes are cyclical and co-move with the business cycle. Second, lower and higher income individuals experience significantly larger fluctuations across the business cycle than middle-income individuals. Third, these fluctuations ...
2021| Geraldine Dany-Knedlik, Alexander Kriwoluzky, Sandra Pasch
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Refereed essays Web of Science
The Kitagawa–Oaxaca–Blinder decomposition approach has been widely used to attribute group-level differences in an outcome to differences in endowment, coefficients, and their interactions. The method has been implemented for Stata in the popular oaxaca command for cross-sectional analyses. In recent decades, however, research questions have been more often focused on the decomposition of group-based ...
In:
The Stata Journal
21 (2021), 2, S. 360-410
| Hannes Kröger, Jörg Hartmann
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Diskussionspapiere 1962 / 2021
We present evidence from a repeated survey on risky asset holdings carried out on a representative sample of the German population six times between April and June 2020. Given the size of the Covid-19 shock, we find little evidence of portfolio rebalancing in April 2020. In May, however, individual investors started buying heavily, fueling market recovery. The cross-section shows large differences ...
2021| Lukas Menkhoff, Carsten Schröder