Latest Publications
-
(2004): Bénassy, Jean-Pascal: The macroeconomics of imperfect competition and nonclearing markets : a dynamic general equilibrium approach The Economic Journal. 2004, 114(496), pp. F358-F359. Available under: doi: 10.1111/j.1468-0297.2004.00226_14.x
dc.title:
-
Unter dem Stichwort Patchwork-Biografien wird die Tatsache, dass ein großer Teil der abhängig Beschäftigten ihren erlernten Beruf nicht mehr ausüben, in jüngster Zeit viel diskutiert. Diese Studie liefert einen empirischen Beitrag zur Anatomie des Berufswechsel für westdeutsche Männer auf Basis der BIBB/IAB-Daten 1998/1999. Als Grundlage für die empirische Analyse wird ein theoretisches Modell der Wahl zwischen horizontal differenzierten Berufen entwickelt. Die wichtigsten Ergebnisse sind: Ex post beobachtete Berufswechsel hängen negativ vom Durchschnittslohn im Ausbildungsberuf und positiv vom Durchschnittslohn im Erwerbsberuf ab. Der deskriptiv beobachtete durchschnittliche Entlohnungseffekt eines Berufswechsels ist signifikant positiv, verstärkt sich noch, wenn für den Ausbildungsberuf kontrolliert wird, und ist demgegenüber signifikant negativ, wenn für den Erwerbsberuf kontrolliert wird. Der geschätzte kausale durchschnittliche Entlohnungseffekt ist positiv. Die Ergebnisse sind insgesamt damit konsistent, dass Berufswechsel vor allem damit zusammenhängen, dass Beschäftigte im neuen Erwerbsberuf größere Verdienst- und Karrierechancen wahrnehmen können.
-
For a bivariate data set the dependence structure can not only be measured globally, for example with the Bravais-Pearson correlation coefficient, but the dependence structure can also be analyzed locally. In this article the exploration of dependencies in the tails of the bivariate distribution is discussed. For this a graphical method which is called chi-plot and which was introduced by Fisher and Switzer (1985, 2001) is used. Examples with simulated data sets illustrate that the chi-plot is suitable for the exploration of dependencies. This graphical method is then used to examine stock-return pairs. The kind of tail-dependence between returns has consequences, for example, for the calculation of the Value at Risk and should be modelled carefully. The application of the chi-plot to various daily stock-return pairs shows that different dependence structures can be found. This graph can therefore be an interesting aid for the modelling of returns.
-
(2004): Attitudes toward Policy on Ageing : Results of the Population Policy Acceptance Survey in Austria Vienna Yearbook of Population Research. 2004, 2, pp. 155-174. ISSN 1728-4414. eISSN 1728-5305. Available under: doi: 10.1553/populationyearbook2004s155
Like all modern societies Austria is faced with the process of demographic ageing. This paper concentrates on the question of how current policies in the field of old-age provision are being viewed and how Austrians envisage this issue for the future. Departing from an assessment of population ageing, results will be presented for the following topics: • Attitudes towards the state's obligations and responsibilities in the field of social policies; • Attitudes towards the future design of the pension system; • Attitudes towards the transition into retirement and • Preferences concerning the retirement age. The findings ultimately raise the central question of how, in view of the known economic and demographic conditions, employment and social policy can be better integrated in order to allow older employees to remain part of the workforce for a longer time.
-
This study examines the impact of university spillovers on the locational choice of firm formation. Based on a unique and hand-collected data set of high-technology start-ups publicly listed in Germany, this paper tests the propositions that geographic proximity to the university is influenced by the kind of science and type of knowledge spillover. The results provide evidence that while academic research spillovers by articles and graduates seem to be less important as a location decision in the past, become a significant determinant for young and high-tech firms.
-
In this paper I develop a theoretical model explaining optimal wage-tenure profiles for heterogeneous labor. My findings entail that high productive people have steeper profiles than low productive individuals. I find strong empirical evidence for these findings. At the end of my paper, I utilize the basic model to describe the labor market entry of college graduates.
-
(2004): The Impact of Exchange Rate Volatility on the European and U.S. Labor Markets The Journal of Economic Asymmetries. 2004, 1(2), pp. 21-50. ISSN 1703-4949. Available under: doi: 10.1016/j.jeca.2004.02.002
We analyze the effects of exchange rate volatility on labor market performance, both theoretically and empirically. We consider a simple Dixit/Pindyck-style model to show that there is a negative relationship between exchange rate variability and job creation. It turns out that a higher reservation wage, a better bargaining position of workers and higher costs of job creation strengthen the adverse impact of uncertainty on employment. Thus, the link between exchange rate variability and employment should be stronger in most European countries than in the US. Our regression analysis provides support for this conclusion.
-
(2004): Der Übergang von der Schule in die Arbeitswelt und die Vision eines 'open training market' : australische Erfahrungen und Entwicklungen MÜNK, Dieter, ed.. Perspektiven der beruflichen Bildung und der Berufsbildungspolitik im europäischen und internationalen Kontext : [13 Hochschultage Berufliche Bildung 2004, Technische Universität Darmstadt, 10 bis 12. März 2004]. Bielefeld: Bertelsmann, 2004, pp. 13-31. BerufsBildung in der globalen NetzWerkGesellschaft. 13. ISBN 978-3-7639-3248-1
dc.title:
-
This paper investigates the effect of reforms on the time-to-degree and attendance at colleges. My model predicts that with imperfect credit markets imposing tuition fees may raise instead of reducing the time-to-degree. In the final section of the paper, I present a proposal for a reform which incorporates differentiated fees and a credit point system. I derive an optimal fee for maximal attendance in higher education.
-
(2004): Apprenticeship Cultures : a comparative view HEMSWORTH, David, ed., Simon ROODHOUSE, ed.. Apprenticeship : An Historical Re-Invention for a Post Industrial World ; Proceedings of the conference held by the University Vocational Awards Council, London, January 2004. Bolton: University Vocational Awards Council, 2004, pp. 43-58. ISBN 0-907311-10-5
The term ‘apprenticeship culture’ describes ‘both pedagogical efforts and institutional arrangements in the area of vocational training’. This paper refers to three dimensions of what constitutes an apprenticeship culture: (1) the institutional pattern of vocational training; (2) the intentions underlying the process of skill formation; and (3) the relationship or interaction between the vocational training system and correlated systems. It compares the apprenticeship cultures in Germany and the UK and explores the concepts of the ‘vocational principle’ as the cornerstone of apprenticeships in the German dual system, and of competence based training as the cornerstone of vocational training reform in the UK. The paper concludes that, compared to other countries, the ‘continuance of tradition’ in Germany has been highly valued and the role of the state, the importance of ‘shared practices’, and more importantly, the ‘vocational principle’ make the German system an ‘institution-based approach’. In contrast, the UK apprenticeship system still sticks to market principles and great social and economic importance is given to the ‘outcome-based approach’ through competency based training.
-
Die vorliegende Arbeit analysiert im Rahmen allgemeiner Gleichgewichtsmodelle offener Volkswirtschaften mögliche Wechselwirkungen zwischen zunehmender wirtschaftlicher Integration und national bzw. supranational bestimmter Umweltpolitik.
Die Arbeit gliedert sich in 3 Teile. Der erste Teil der Arbeit erläutert die internationale Dimension des Umweltproblems, der zweite Teil trägt die modelltheoretischen Bausteine zusammen, mit denen Umweltpolitik in offenen Volkswirtschaftn unter Effizienz-und Verteilungsapekten analysiert werden kann, im dritten Teil dienen diese einer normativen und positiven Analyse der Umweltpolitik in der EU. -
Using the Qualification and Career Survey , a rich German data set with information on 0.1 percent of all individuals employed in Germany in 1998/1999, we calculate the earnings effect of training for different types of employees in the personal services sector. Interacting training with all explanatory variables in the earnings equation allows us to calculate heterogeneous training returns for employees and firms with different characteristics and to estimate an unbiased average treatment effect. The correction for selection into training by using supply-side changes as external instruments leads to a decrease in the training coefficient in the personal services sector, while the coefficient increases in the entire economy. A further comparison of the results for the personal services sector with those for the entire economy reveals that, on average, employees in personal services gain less from participation in training.
-
Nachhaltigkeit ist in der wisseschafltichen Diskussion ein umstrittenes Bewertungskriterium. Die vorliegende Arbeit untersucht die Verwendung des Begriffs im Kontext der Umwelt und Rentenpolitik. Dies geschieht für beide Politikfelder im Rahmen eines Modells überlappender Generationen. Als Anknüpfungspunkte einer Nachhaltigkeitsdiskussion ergibt sich zwischen den beiden zunächst disparat wirkenden Politikfelder die demogrphische Entwicklung sowie das gesammtwirtschaftliche Sparverhalten.
-
This paper presents a comprehensive view of life-time taxation including both explicit taxation through the general tax system and implicit taxation via the retirement benefit formula. Individuals are heterogeneous with respect to productivity. It is shown that the optimal structure of age-dependent taxation can be characterized by a generalized Ramsey formula. Furthermore, the paper derives the optimal retirement benefit formula in the presence of the general tax system.
-
Dem deutschen Berufsausbildungssystem werden derzeitig immanente Schwächen und Reformbedarf attestiert. Diese Arbeit fokussiert das deutsche Berufsausbildungssystem unter dem Blickwinkel des Föderalismusprinzips. Grundlegende föderale Charakteristika werden aufgezeigt und unter Betrachtung des deutschen Staatssystems erklärt. Insbesondere soll dem Betrachter der föderale Aufbau und Charakter des deutschen Berufsausbildungssystems dargestellt werden. Hierfür werden ausgewählte Institutionen der Berufsbildung herangezogen.
In einem zweiten Abschnitt wird diese Bestandsaufnahme einer kritischen Betrachtung unterzogen, indem Systemschwächen aufgezeigt werden. Dies wird mit Hilfe der Reformforderungen von verschiedenen Gruppierungen dargestellt. Analog zu der Bestandsaufnahme wird zuerst die allgemeine Föderalismusdebatte aufgegriffen, um in einem zweiten Schritt die Reformvorschläge in der Berufsausbildung zu durchleuchten. Hierbei spielen vor allem Kompetenzverlagerungen zugunsten der Länder eine Rolle, die durch eine Minderung des Mitspracherechts im Bundestag erreicht werden soll.
Innerhalb der Berufsausbildung ist die Debatte noch nicht soweit fortgeschritten, wie in der allgemeinen Diskussion.
Diese Arbeit soll diesen Umstand aufzeigen und gleichzeitig eine Diskussion anregen, die von jedweden Ideologien und Gruppenparadigmen frei ist. -
(2004): Budgetary policy and unemployment dynamics in an olg model with collective bargaining The Economic Journal. 2004, 114(498), pp. 867-889. ISSN 0013-0133. eISSN 1468-0297. Available under: doi: 10.1111/j.1468-0297.2004.00247.x
We consider a dynamic general equilibrium model with capital accumulation and collective wage bargaining and investigate how unemployment responds to structural shocks under two stylised budgetary policies. Under balanced budgets, tax adjustments lead to higher unemployment on impact but enable a quick recovery of employment. By contrast, unbalanced budgets mitigate unemployment effects on impact but dynamics are more persistent due to weaker capital accumulation and future fiscal consolidations. These results are consistent with empirical evidence on a positive cross-country relationship between government borrowing and unemployment persistence.
-
(2004): What is going on in the oil market? Financial Markets and Portfolio Management. 2004, 18(4), pp. 442-457. ISSN 1555-4961. eISSN 1555-497X. Available under: doi: 10.1007/s11408-004-0407-3
In this article, we propose a consistent view on the recent oil-price history based on fundamental data and economic theory. We sum up: After the turn of the century three major stylized shocks have hit market. First, the demand curve has shifted fight outwards, mainly driven, as extensively reported in the media, by sustained growth in China and other Asian Countries. Second, supply disruptions in countries with low extraction costs (Iraq and Venezuela) have shifted the supply curve to the left. Third, we show that speculators adjust their inventories in order to take advantage of predictable price fluctuations and play themselves a major role in the price formation. Optimal storage theory implies that aggregate inventories are negatively related to the oil price and positively to the volatility of supply and demand shocks.
-
The paper presents univariate and panel unit root tests for gasoline and oil price convergence over the last decade. We test for the absolute versus relative version of the LOOP and estimate the speed of convergence as well as its development over time. Our results show that the absolute version of the LOOP cannot be supported. Constant price differences between countries remain, caused mainly by existing tax differences. The relative version of the LOOP is strongly supported by the data. The speed of convergence increased over time, but differs for gross and net-of-tax prices. We can show that national tax policy by EU member states is not (yet) threatened by arbitrage due to cross-border shopping.
-
(2004): How to Finance Social Health Insurance : Issues in the German Reform Debate The Geneva papers on risk and insurance theory. 2004, 29(4), pp. 679-688. ISSN 0926-4957. eISSN 1573-6954. Available under: doi: 10.1111/j.1468-0440.2004.00310.x
In view of the rapidly rising contribution rates in the Statutory Health Insurance system and the persistently high unemployment rate, Germany has recently debated radical changes in the mode of health care financing. Among the controversial reform proposals were the possible expansion of mandatory membership to the whole population and the uncoupling of health insurance contributions from wage income. The main arguments in the German debate are presented and discussed. It is shown that there are valid welfare-economic reasons both for universal coverage and income-independent contributions. Moreover, it is demonstrated that the efficiency gains implicit in a transition to flat-rate contributions can be achieved in a distributionally neutral way if the measure is combined with an appropriate reform of the income tax system. Finally, it is shown that the replacement of pay-as-you-go financing by funding within social health insurance, while seemingly increasing the sustainability of the system, may create important additional problems.
-
Based on a large cross-section of developing and developed countries, this paper investigates the nexus between globalisation and four labour standards: freedom of association and the right to bargain collectively (FACB), freedom from forced labour (FL), abolition of child labour (CL) and non-discrimination (D). The question of central interest is whether trade and foreign investment affect the level of the four labour standards. FACB and FL are measured by newly constructed indices that emphasize de facto government compliance. Openness is measured by various trade and FDI indicators, which range from highly aggregated to highly disaggregated ones. The empirical results suggest that trade and foreign investment are in general associated with stricter labour standards. Special government initiatives which stimulate exports and FDI do, however, have an adverse effect on labour standards, and particularly, on FACB.