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Publications

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DIW on 20.10.2017, 10:00 h
A Simple Regulatory Incentive Mechanism Applied to Electricity Transmission Pricing and Investment

Abstract: The informationally simple approach to incentive regulation applies mechanisms that translate the regulator?s objective function into the firm?s profit-maximizing objective. These mechanisms come in two forms, one based on subsidies/taxes,the other based on constraints/ price caps. In spite of a number of improvements and a good empirical track record simple approaches so far remain imperfect. The current paper comes up with a new proposal, called H-R-G-V, which blends the two traditions and is shown to apply well to electricity transmission pricing and investment. In particular, it induces immediately optimal pricing/investment but is [...] ( more )

DIW on 20.10.2017, 09:00 h
Information Asymmetries between Parents and Educators in German Childcare Institutions

Abstract: Economic theory predicts market failure in the market for early childhood education and care (ECEC) due to information asymmetries. We empirically investigate information asymmetries between parents and ECEC professionals in Germany, making use of a unique extension of the German Socio-Economic Panel Study (SOEP). It allows us to compare quality perceptions by parents and pedagogic staff of 734 ECEC institutions which were attended by children in SOEP households. Parents and staff were asked to rate the same quality measures. We detect considerable information asymmetries between these groups which differ across quality measures but little [...] ( more )

DIW on 19.10.2017, 11:00 h
The Day of the Week Effect in the Crypto Currency Market

Abstract: This paper examines the day of the week effect in the crypto currency market using a variety of statistical techniques (average analysis, Student's t-test, ANOVA, the Kruskal- Wallis test, and regression analysis with dummy variables) as well as a trading simulation approach. Most crypto currencies (LiteCoin, Ripple, Dash) are found not to exhibit this anomaly. The only exception is BitCoin, for which returns on Mondays are significantly higher than those on the other days of the week. In this case the trading simulation analysis shows that there exist exploitable profit opportunities that can be interpreted as evidence against efficiency of [...] ( more )

DIW on 19.10.2017, 11:00 h
Trends and Cycles in Macro Series: The Case of US Real GDP

Abstract: In this paper we propose a new modelling framework for the analysis of macro series that includes both stochastic trends and stochastic cycles in addition to deterministic terms such as linear and non-linear trends. We examine four US macro series, namely annual and quarterly real GDP and GDP per capita. The results indicate that the behaviour of US GDP can be captured accurately by a model incorporating both stochastic trends and stochastic cycles that allows for somedegree of persistence in the data. Both appear to be mean-reverting, although the stochastic trend is nonstationary whilst the cyclical component is stationary, with cycles [...] ( more )

DIW on 18.10.2017, 10:00 h
Employment and Human Capital Investment Intentions among Recent Refugees in Germany

Abstract: Motivations to participate in the labour market as well as to invest in labour market skills are crucial for the successful integration of refugees. In this paper we use a unique dataset ? the IAB-BAMF-SOEP Refugee Survey, which is a representative longitudinal study of all refugees reported on administrative records in Germany ? and analyse which determinants and characteristics are correlated with high motivation and intention to participate in the labour market. We find that overall men have a strong intention to work and to invest in human capital. The result for women is different: among women, having children, lack of German [...] ( more )

DIW on 18.10.2017, 05:00 h
Day Care Centers: Family Expenditures Increased Significantly at Some Points between 1996 and 2015

Abstract: Private household expenditures on child care in centers have significantly risen: from an average of 98 euros per month in 2005 to just under 171 euros in 2015 for a child under three and for children three and older (?Kindergarten?1 age group), from 71 to 97 euros in the period between 1996 and 2015. At the same time, more and more households are completely exempt from paying fees for day care. However, relative to their income, households on or below the poverty line that have day care expenditures still pay virtually the same amount as other households. For the first time, based on data from the Socio-Economic Panel (SOEP) and the [...] ( more )

DIW on 13.10.2017, 11:00 h
Microenterprises in Developing Countries: Is there Growth Potential?

Abstract: Microenterprises account for a large fraction of employment in developing countries and they are likely to increase in importance in the future. In Sub-Saharan Africa, for example, around 8 million additional jobs need to be created annually in order to cope with the increasing number of new entrants into the labour market (The World Bank, 2013). As microenterprises typically only provide subsistence income to few individuals the question remains whether they have the potential to grow and to contribute to the creation of jobs. Studies suggest that many businesses do indeed have the potential to grow. However, they often lack the necessary [...] ( more )

DIW on 12.10.2017, 05:00 h
Broadband Internet, Digital Temptations, and Sleep

Abstract: There is a growing concern that the widespread use of computers, mobile phones and other digital devices before bedtime disrupts our sleep with detrimental effects on our health and cognitive performance. High-speed Internet promotes the use of electronic devices, video games and Internet addiction (e.g., online games and cyberloafing). Exposure to artificial light from tablets and PCs can alterate individuals? sleep patterns. However, there is little empirical evidence on the causal relationship between technology use near bedtime and sleep. This paper studies the causal effects of access to high-speed Internet on sleep. We first show [...] ( more )

DIW on 12.10.2017, 04:00 h
Reluctant to Reform? A Note on Risk-Loving Politicians and Bureaucrats

Abstract: As from a political economy perspective, politicians often fail to implement structural reforms, we investigate if the resistance to reform is based on the differences in the risk preferences of voters, politicians, and bureaucrats. Based on the empirical results of a survey of the population in Germany, 175 members of the Federal German Parliament (Bundestag), and 106 officials (?bureaucrats?) from German ministries, this is not the case. Since both politicians and bureaucrats have a higher risk appetite than the general population, their risk preferences cannot be seen as an explanation for the resistance to structural reform. Hence, [...] ( more )

DIW on 12.10.2017, 04:00 h
The Dynamics of Solo Self-Employment: Persistence and Transition to Employership

Abstract: This study examines dynamics of solo self-employment. In particular, we investigate the extent of true state dependence and cross state dependence, i.e., whether experiencing solo selfemployment causally affects the probability of becoming an employer in the future. We use data from the German Socio-Economic Panel to estimate dynamic multinomial logit models. Our results show that the extent of true (cross) state dependence is rather small. The observed persistence in solo self-employment as well as transitions from solo self-employment to employership can largely be explained by observed and unobserved heterogeneity.
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DIW on 12.10.2017, 02:00 h
Where Does the Good Shepherd Go? Civic Virtue and Sorting into Public Sector Employment

Abstract: Several studies have analyzed different motives to work in the public versus private sector. Some studies focus on prosocial motivation, others focus on need for security (risk aversion). However, the study of prosocial motivation in the context of public sector employment has largely focused on altruism and neglected other forms of prosocial motivation, in particular civic virtue, the motive to contribute to the society. In addition, it is unclear whether the positive relationship between prosocial motivation and public sector employment is due to selection at the career start or socialization during the career. Our study extends the [...] ( more )

DIW on 11.10.2017, 04:06 h
OPEC, Saudi Arabia, and the Shale Revolution: Insights from Equilibrium Modelling and Oil Politics

Abstract: Why did OPEC not cut oil production in the wake of 2014's price fall? This study aims at aiding the mostly qualitative discussion with quantitative evidence from computing quarterly partial market equilibria Q4 2011 ? Q4 2015 under present short-term profit maximisation and different competition setups. Although the model performs reasonably well in explaining pre-2014 prices, all setups fail to capture low prices, which fall even beyond perfect competition outcomes. This result is robust with respect to large variations in cost parameters. Rejecting present short-term profit maximisation, as well as a qualitative discussion of Saudi [...] ( more )

DIW on 11.10.2017, 04:00 h
Financial Literacy Promotes Financial Inclusion in Both Poor and Rich Countries

Abstract: For social and economic reasons, national economies benefit from the inclusion of as many people as possible in financial services. In a cross country study, the present study shows that financial literacy for the general population promotes financial inclusion. This relationship goes beyond the effect of higher economic or financial development. And the effect of higher levels of financial literacy is greatest on the ?use of financial products? in financial systems that are more developed. On the contrary, the educational effect on ?access to finance? is greatest for countries that are financially less developed. Economic policy [...] ( more )

DIW on 10.10.2017, 10:00 h
Internet and Politics: Evidence from U.K. Local Elections and Local Government Policies

Abstract: We empirically study the effects of broadband internet diffusion on local election outcomes and on local government policies using rich data from the U.K. Our analysis suggests that the internet has displaced other media with greater news content (i.e., radio and newspapers), thereby decreasing voter turnout, most notably among less-educated and younger individuals. In turn, we find suggestive evidence that local government expenditures and taxes are lower in areas with greater broadband diffusion, particularly expenditures targeted at less-educated voters. Our findings are consistent with the idea that voters' information plays a key role [...] ( more )

DIW on 10.10.2017, 05:00 h
Neighbourhood Turnover and Teenage Attainment

Abstract: Theories about neighbours? influence on children's education that are based on social capital, cohesion, and disorganisation stress the importance of neighbourhood stability. This is because stability is regarded as necessary for building strong ties and friendships, which in turn affect educational outcomes. However, amongst the vast number of studies on the effect of neighbours on a child's education, none has tested whether neighbourhood stability matters. We fill this gap by estimating the causal effect of residential turnover on student test score gains. Estimation is based on administrative data on four cohorts of secondary school [...] ( more )

DIW on 09.10.2017, 12:00 h
Die Klassifizierung der Berufe und der Wirtschaftszweige im Sozio-oekonomischen Panel – Neuvercodung der Daten 1984-2001


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DIW on 09.10.2017, 12:00 h
Die Vercodung der offenen Angaben zur beruflichen Tätigkeit nach der International Standard Classification of Occupations 2008 (ISCO08)


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DIW on 09.10.2017, 12:00 h
Berufe- und Branchenvercodung im SOEP 1999: Erprobung und Weiterentwicklung alternativer Verfahren


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DIW on 09.10.2017, 12:00 h
Die Vercodung der offenen Angaben zur beruflichen Tätigkeit nach der Klassifikation der Berufe 2010 (KldB 2010)


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DIW on 09.10.2017, 12:00 h
Berufe-Vercodung im SOEP 1998: Erprobung alternativer Verfahren


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DIW on 09.10.2017, 12:00 h
Projekt: Sozioökonomisches Panel - Dokumentation zur Berufs-und Branchenvercodung


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DIW on 09.10.2017, 12:00 h
Die Vercodung der offenen Angaben zu den Ausbildungsberufen im Sozio-Oekonomischen Panel


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DIW on 09.10.2017, 12:00 h
Structural Vector Autoregressions with Smooth Transition in Variances

Abstract: In structural vector autoregressive analysis identifying the shocks of interest via heteroskedasticity has become a standard tool. Unfortunately, the approaches currently used for modeling heteroskedasticity all have drawbacks. For instance, assuming known dates for variance changes is often unrealistic while more flexible models based on GARCH or Markov switching residuals are difficult to handle from a statistical and computational point of view. Therefore we propose a model based on a smooth change in variance that is flexible as well as relatively easy to estimate and illustrate its use by analysis of the interaction between monetary [...] ( more )

DIW on 09.10.2017, 05:00 h
Intended College Enrollment and Educational Inequality: Do Students Lack Information?

Abstract: Despite increasing access to university education, students from disadvantaged or non-academic family backgrounds are still underrepresented in universities. In this regard, the economics literature has focused on the role of financial constraints as a cause of these observed differences in educational choices. Our knowledge of potential effects of other constraints regarding university education is more limited. We investigate the causal relationship between information and educational expectations using data from a German randomized controlled trial in which students in high schools were given information on the benefits of as well as on [...] ( more )

DIW on 09.10.2017, 04:00 h
Car Ownership and Hedonic Adaptation

Abstract: Using panel data from the UK, we study the long-term effect of purchase decisions of automobiles on individuals? happiness. We find a significant and sizable decrease in individual happiness in the years after a car purchase. We develop a model of hedonic adaptation that can explain these results. Applying the model to the data indicates a strong degree of habit persistence of around 80%, and that within five years after a purchase, around one third of the happiness increase is dissipated due to hedonic adaptation.
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DIW on 06.10.2017, 03:00 h
LIFESPELL: Information on the Pre- and Post-Survey History of SOEP-Respondents


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DIW on 06.10.2017, 03:00 h
BIOSOC: Retrospective Data on Youth and Socialization


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DIW on 06.10.2017, 03:00 h
BIOAGE17: The Youth Questionnaire


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DIW on 06.10.2017, 03:00 h
BIOPAREN: Biography Information for the Parents of SOEP-Respondents


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DIW on 06.10.2017, 03:00 h
BIORESID: Variables on Occupancy and Second Residence


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DIW on 06.10.2017, 03:00 h
BIOIMMIG: Generated and Status Variables from SOEP for Foreigners and Migrants


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DIW on 06.10.2017, 02:00 h
Activity Biography in the Files PBIOSPE and ARTKALEN


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DIW on 06.10.2017, 02:00 h
BIOTWIN: TWINS in the SOEP


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DIW on 06.10.2017, 02:00 h
MIGSPELL: The Migration-Biography (Samples M1 and M2): Integrated Version: Waves bd to bf


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DIW on 06.10.2017, 02:00 h
BIOBIRTH: A Data Set on the Birth Biography of Female Respondents


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DIW on 06.10.2017, 02:00 h
General Introduction and Overview of Available Datasets


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DIW on 06.10.2017, 02:00 h
BIOJOB: Detailed Information on First and Last Job


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DIW on 06.10.2017, 02:00 h
The Couple History Files BIOCOUPLM and BIOCOUPLY, and Marital History Files BIOMARSM and BIOMARSY


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