This paper uncovers ongoing trends in idiosyncratic earnings volatility across generations by decomposing residual earnings auto-covariances into a permanent and a transitory component. We employ data on complete earnings life cycles for prime age men born 1935 through 1974 that covers earnings between 1960 and 2009. Over this period, the German labor market undergoes a heavy transformation and experiences ...
Die Wissenschaftsplattform Sustainable Finance (WPSF) ist ein von der Stiftung Mercator gefördertes Kooperationsprojekt fünf deutscher Forschungseinrichtungen. Als unabhängige Stimme aus der Wissenschaft wollen die Projektpartner Entscheidungsträger*innen in Politik, Finanzsektor und Realwirtschaft darin unterstützen, die zentrale Rolle der Kapitalmärkte auf dem Weg zu einer klimaneutralen...
Die Wissenschaftsplattform Sustainable Finance vereint fünf deutsche Forschungseinrichtungen, die seit vielen Jahren intensiv zum Thema Sustainable Finance forschen. Diese Seite dokumentiert die erste Projektphase zwischen August 2019 und August 2021, die vom BMU und der Stiftung Mercator gefördert wurde. Der Fokus dieser Projektphase lag auf der wissenschaftlichen Begleitung der Arbeit des...
This paper uncovers ongoing trends in idiosyncratic earnings volatility across generations by decomposing residual earnings auto-covariances into a permanent and a transitory component. We employ data on complete earnings life cycles forprime age men born 1935 through 1974 that covers earnings between 1960 and 2009. Over this period, the German labor market undergoes a heavy transformation and experiences ...
We solve the problem of a social planner who seeks to minimize inequality via transfers with a fixed public budget in a distribution of exogenously given incomes. The appropriate solution method depends on the objective function: If it is convex, as in the case of the absolute mean deviation, it can be solved by an interior-point algorithm. If it is quasiconvex, as in case of the Gini coefficient, ...
Generous income support programs as provided by European welfare states have often been blamed to reduce work incentives for the lowskilled and to increase durations of unemployment. Standard studies measure work incentives based on annual income concepts. This paper analyzes work incentives inherent in the German tax-benefit system when extending the time horizon to three years (long-term). Participation ...
Seit 2010 befindet sich die griechische Wirtschaft in einer tiefen Krise. Dazu haben verschiedene Probleme beigetragen, wie etwa die steigenden staatlichen Ausgaben und der Verlust der internationalen Wettbewerbsfähigkeit. Letzteres hat unter anderem zu hohen Haushalts- und Handelsdefiziten geführt. Seit Ausbruch der Krise ist die Wirtschaft um rund 30 Prozent geschrumpft. Die Arbeitslosigkeit ist ...
While breastfeeding is associated with health benefits for both mothers and children, it may also make it difficult for mothers to return to the labor market early. Maternity and parental leave regulations have been developed to mitigate this conflict. In 2007, Germany passed a reform introducing a new parental leave benefit (Elterngeld). In this paper, we address the question of whether the new parental ...
Micro-econometric intra-cohort profitability analyses of pay-as-you-go (PAYG) pension contributions are rare. We use representative employment histories of a birth cohort of German PAYG pension insurants retiring in year 2005 to econometrically examine the determinants of the profitability of such contributions using nominal internal rates of return (IRR) as profitability measure. When future nominal ...