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SOEPpapers 784 / 2015
Studies of deprivation usually ignore mental illness. This paper uses household panel data from the USA, Australia, Britain and Germany to broaden the analysis. We ask first how many of those in the lowest levels of life-satisfaction suffer from unemployment, poverty, physical ill health, and mental illness. The largest proportion suffer from mental illness. Multiple regression shows that mental illness ...
2015| Sarah Flèche, Richard Layard
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SOEPpapers 589 / 2013
We investigate whether non-cognitive skills - in particular Locus of Control - are important determinants of the labour market processes at the low-wage margin. Based on data from the German Socio-Economic Panel, we estimate dynamic multinomial logit models with random effects and investigate whether Locus of Control influences the probability of being higher-paid or low-paid as well as the probability ...
2013| Daniel D. Schnitzlein, Jens Stephani
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Diskussionspapiere 1297 / 2013
Negative effects of job loss on adults such as considerable fall in income have long been examined. If job loss has negative consequences for adults, it may spread to their children. But potential effects on children's non-cognitive skills and the related mechanisms have been less examined. This paper uses propensity score matching to analyze maternal involuntary job loss and its potential causal effect ...
2013| Frauke H. Peter
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SOEPpapers 867 / 2016
This paper analyzes private retirement savings, the amount for German individuals and how these savings are influenced by personality traits. With the 2002 to 2009 cross section of the Socio-Economic Panel for Germany (SOEP), it is investigated how the Big-Five and the Locus of Control influence the decision to have private retirement savings, and the estimated amount of these savings. Results indicate ...
2016| Konrad C. Schäfer
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SOEPpapers 453 / 2012
We show that personality traits mediate the effect of income on Life Satisfaction. The effect is strong in the case of Neuroticism, which measures the sensitivity to threat and punishment, in both the British Household Panel Survey and the German Socioeconomic Panel. Neuroticism increases the usually observed concavity of the relationship: Individuals with higher Neuroticism score enjoy income more ...
2012| Eugenio Proto, Aldo Rustichini
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SOEPpapers 633 / 2014
In spite of the great U-turn that saw income inequality rise in Western countries in the 1980s, happiness inequality has dropped in countries that have experienced income growth (but not in those that did not). Modern growth has reduced the share of both the "very unhappy" and the "perfectly happy". The extension of public amenities has certainly contributed to this greater happiness homogeneity. This ...
2014| Andrew E. Clark, Sarah Flèche, Claudia Senik
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Refereed essays Web of Science
Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic ...
In:
Journal of Economic Psychology
51 (2015), S. 114-133
| Antonia Grohmann, Roy Kouwenberg, Lukas Menkhoff
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Diskussionspapiere 1504 / 2015
Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic ...
2015| Antonia Grohmann, Roy Kouwenberg, Lukas Menkhoff
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SOEPpapers 542 / 2013
We examine how parental health shocks affect children's non-cognitive skills. Based on a German mother-and-child data base, we draw on significant changes in self-reported parental health as an exogenous source of health variation to identify effects on outcomes for children at ages of three and six years. At the age of six, we observe that maternal health shocks in the previous three years have significant ...
2013| Franz Westermaier, Brant Morefield, Andrea M. Mühlenweg