Aktuelle Publikationen

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  • (2024): Social mobility in Germany Journal of Public Economics. Elsevier. 2024, 232, 105074. ISSN 0047-2727. eISSN 1879-2316. Available under: doi: 10.1016/j.jpubeco.2024.105074

    Social mobility in Germany

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    We characterize intergenerational mobility in Germany using census data on educational attainment and parental income for 526,000 children. Motivated by Germany’s tracking system in secondary education, our measure of opportunity is the A-Level degree, a requirement for access to university. A 10 percentile increase in parental income rank is associated with a 5.2 percentage point increase in the A-Level share. This gradient remained unchanged for the birth cohorts 1980–1996, despite a large-scale expansion of upper secondary education. At the regional level, there exists substantial variation in mobility estimates. Local characteristics, rather than sorting patterns, account for most of these differences.

  • (2024): The tax shield increases the interest rate Journal of Banking & Finance. Elsevier. 2024, 161, 107096. ISSN 0378-4266. eISSN 1872-6372. Available under: doi: 10.1016/j.jbankfin.2024.107096

    The tax shield increases the interest rate

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    We study the general equilibrium implications of the corporate tax shield in a growth economy that taxes household income and firm profits and redistributes tax revenues. Our stylized model predicts that in general equilibrium the tax shield's reduction of the corporate after-tax borrowing rate is counteracted (but not fully eliminated) by an increase in the pre-tax rate.

  • (2024): Working more for more and working more for less : Labor supply in the gain and loss domains Labour Economics. Elsevier. ISSN 0927-5371. eISSN 1879-1034. Available under: doi: 10.1016/j.labeco.2024.102533

    Working more for more and working more for less : Labor supply in the gain and loss domains

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    We examine labor supply responses to piece rate changes relative to the reference piece rate (RR). In experimental conditions without RR, labor supply increases monotonically with the actual piece rate. In conditions with RR, labor supply increases both when the piece rate rises and falls relative to RR. This non-monotonicity in labor supply responses to piece rate changes around RR is consistent with the effects of framing a given level of income as gain or loss relative to the target level induced by RR: loss aversion makes subjects work more at a given piece rate when the implied income is in the loss rather than gain domain. However, the framing effects disappear when the piece rate could both rise or fall relative to RR.

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    (2024): The politics of redistribution and sovereign default Journal of International Economics. Elsevier. 2024, 148, 103876. ISSN 0022-1996. eISSN 1873-0353. Available under: doi: 10.1016/j.jinteco.2023.103876

    The politics of redistribution and sovereign default

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    This paper studies how distributional and electoral concerns shape sovereign default incentives within a quantitative model of sovereign debt with heterogeneous agents and non-linear income taxation. The small open economy is characterized by a two-party system in which the left-wing party has a larger preference for redistribution than the right-wing party. Political turnover is the endogenous outcome of the electoral process. Fiscal policy faces a tradeoff: On the one hand, the government has incentives to finance its spending via external debt to avoid distortionary income taxation. On the other hand, the accumulation of external debt raises the cost of borrowing. Quantitative findings suggest that the left-wing party implements a more progressive income tax, is more prone to default, and has a lower electoral support than the right-wing party due to worse borrowing conditions and the distortionary effects of income taxation. In equilibrium, electoral uncertainty raises sovereign default risk.

  • (2024): Holding Period Effects in Dividend Strip Returns The Review of Financial Studies. Oxford University Press (OUP). ISSN 0893-9454. eISSN 1465-7368. Available under: doi: 10.1093/rfs/hhae002

    Holding Period Effects in Dividend Strip Returns

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    We estimate short-term dividend strip prices from 27 years of S&P 500 index options data (1996-2022). We use option-implied interest rates when estimating strip prices and longer holding period returns to mitigate measurement error. We find that Sharpe ratios for short-term strips are similar to or higher than Sharpe ratios for the market. Shortterm strips also have a low market beta and a positive alpha. Over the business cycle, realized term premiums (i.e., the difference between market and strip returns) and the term structure of Sharpe ratios move countercyclically, whereas the term structure of alphas moves procyclically.

  • (2024): Learning effectiveness of immersive virtual reality in education and training : a systematic review of findings Computers & Education: X Reality. Elsevier BV. 2024, 4, 100053. ISSN 2949-6780. Available under: doi: 10.1016/j.cexr.2024.100053

    Learning effectiveness of immersive virtual reality in education and training : a systematic review of findings

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    The use of immersive virtual reality (IVR) offers a variety of design possibilities for action-oriented teaching and learning that enables the promotion of specific knowledge and skills. In order to use IVR applications as an effective teaching and learning medium, it is important to understand the potential advantages and disadvantages of this technology compared to other media. This raises the question of what type of learning environment is most effective in promoting specific knowledge and skills. To answer these questions, a systematic review of research on learning with IVR in an educational context was conducted using the PRISMA method (Liberati et al., 2009; Page et al., 2021). The study analyzed 30 relevant research articles to compare the relative effectiveness of IVR-based learning and its impact on learner engagement, as outlined in the ICAP framework (Chi & Wylie, 2014). The results indicate that IVR has a positive impact on learning compared to other types of media. The study suggests that IVR technology is suitable for learning environments that prioritize active learner engagement and practical application, such as active manipulation and constructive creation. In summary, the results offer more insights into the advantages of using IVR to accomplish particular learning objectives.

  • (2024): The Real Effects of Financial Reporting : Evidence and Suggestions for Future Research Journal of International Accounting, Auditing and Taxation. Elsevier. 2024, 54, 100594. ISSN 1061-9518. eISSN 1879-1603. Available under: doi: 10.1016/j.intaccaudtax.2023.100594

    The Real Effects of Financial Reporting : Evidence and Suggestions for Future Research

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    This article systematically reviews 94 accounting and finance studies that address the real effects of financial reporting. Whereas the effects of financial reporting on capital suppliers’ decisions traditionally have received much attention, recent research has generated new important insights into the feedback effects of financial reporting on the reporting firms’ real activities (e.g., investments or allocation and use of resources). We identify the consequences of financial reporting for (1) the reporting firm, (2) its peer firms, and (3) the input and output markets. We also highlight the effects of firms’ internal controls over financial reporting and consider how accounting and auditing regulations influence and contribute to real effects. The studies we review are consistent in their findings that high-quality financial reporting is positively associated with the efficiency of the reporting firm’s resource allocation. Many studies also suggest a positive association between high-quality financial reporting and an efficient allocation of resources in the real sector, which can also benefit other market participants like consumers or employees. The article concludes with an outlook on fruitful research opportunities.

  • (2024): Can Mentoring Alleviate Family Disadvantage in Adolescence? : A Field Experiment to Improve Labor Market Prospects Journal of Political Economy. University of Chicago Press. ISSN 0022-3808. eISSN 1537-534X. Available under: doi: 10.1086/726905

    Can Mentoring Alleviate Family Disadvantage in Adolescence? : A Field Experiment to Improve Labor Market Prospects

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    We study a mentoring program that aims to improve the labor market prospects of disadvantaged adolescents. Our randomized controlled trial investigates its effectiveness on three outcomes highly predictive of later labor market success: math grades, patience/social skills, and labor market orientation. For low-SES (socioeconomic status) adolescents, the mentoring increases a combined index of the outcomes by over half a standard deviation after 1 year, with significant increases in each outcome. Effects on grades and labor market orientation, but not on patience/social skills, persist 3 years after program start. By that time, the mentoring also improves early realizations of school-to-work transitions for low-SES adolescents. The mentoring is not effective for higher-SES adolescents.

  • Becker, Janina; Tribukait, Maren; Weich, Andreas (Hrsg.) (2024): Berufliche Bildung als Bildung für Menschen mit eingeschränktem Leistungspotenzial? : Eine idealtypische Betrachtung des wertlogischen Zusammenhangs zwischen bildungsbasiertem Leistungsprinzip und beruflicher Bildung BECKER, Janina, ed., Maren TRIBUKAIT, ed., Andreas WEICH, ed.. Transformationen der Leistung in Schule und Bildungsmedien. Göttingen: V&R unipress, 2024, pp. 171-196. Bildungsmedienforschung. Studien des Leibnitz-Instituts für Bildungsmedien. 154. ISBN 978-3-7370-1643-8. Available under: doi: 10.14220/9783737016438.171

    Berufliche Bildung als Bildung für Menschen mit eingeschränktem Leistungspotenzial? : Eine idealtypische Betrachtung des wertlogischen Zusammenhangs zwischen bildungsbasiertem Leistungsprinzip und beruflicher Bildung

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    dc.contributor.author: Braun, Vera

  • Does Information about Inequality and Discrimination in Early Child Care Affect Policy Preferences?

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    We investigate public preferences for equity-enhancing policies in access to early child care, using a survey experiment with a representative sample of the German population (n ≈ 4, 800). We observe strong misperceptions about migrant-native inequalities in early child care that vary by respondents’ age and right-wing voting preferences. Randomly providing information about the actual extent of inequalities has a nuanced impact on the support for equity-enhancing policy reforms: it increases support for respondents who initially underestimated these inequalities, and tends to decrease support for those who initially overestimated them. This asymmetric effect leads to a more consensual policy view, substantially decreasing the polarization in policy support between under- and overestimators. Our results suggest that correcting misperceptions can align public policy preferences, potentially leading to less polarized debates about how to address inequalities and discrimination.

  • (2024): The impact of natives' attitudes on refugee integration Labour Economics. Elsevier. 2024, 87, 102465. ISSN 0927-5371. eISSN 1879-1034. Available under: doi: 10.1016/j.labeco.2023.102465

    The impact of natives' attitudes on refugee integration

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    Exploiting the random allocation of asylum seekers to different locations in Germany, we study the impact of native attitudes, proxied by voting behaviors, on refugees’ integration. We find that in municipalities with more voting for the right-wing Alternative for Germany (AfD) political party, refugees have worse social integration. These impacts are largest for groups targeted by AfD campaigns. Refugees are also more likely to suffer from harassment and right-wing attacks in areas with greater AfD support. Positive interactions with locals are also less likely and negative opinions about immigration spillover to supporters of other parties in these areas. On the other hand, stronger support for pro-immigrant parties enhances social integration.

  • Does Information about Inequality and Discrimination in Early Child Care Affect Policy Preferences?

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    dc.title:


    dc.contributor.author: Hermes, Henning; Legetporer, Philipp; Mierisch, Fabian; Schwerdt, Guido; Wiederhold, Simon

  • (2024): Super-additive cooperation Nature. Springer. 2024, 626, pp. 1034-1041. ISSN 0028-0836. eISSN 1476-4687. Available under: doi: 10.1038/s41586-024-07077-w

    Super-additive cooperation

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    Repeated interactions provide an evolutionary explanation for one-shot human cooperation that is counterintuitive but orthodox1,2,3. Intergroup competition4,5,6,7 provides an explanation that is intuitive but heterodox. Here, using models and a behavioural experiment, we show that neither mechanism reliably supports cooperation. Ambiguous reciprocity, a class of strategies that is generally ignored in models of reciprocal altruism, undermines cooperation under repeated interactions. This finding challenges repeated interactions as an evolutionary explanation for cooperation in general, which further challenges the claim that repeated interactions in the past can explain one-shot cooperation in the present. Intergroup competitions also do not reliably support cooperation because groups quickly become extremely similar, which limits scope for group selection. Moreover, even if groups vary, group competitions may generate little group selection for multiple reasons. Cooperative groups, for example, may tend to compete against each other8. Whereas repeated interactions and group competitions do not support cooperation by themselves, combining them triggers powerful synergies because group competitions constrain the corrosive effect of ambiguous reciprocity. Evolved strategies often consist of cooperative reciprocity with ingroup partners and uncooperative reciprocity with outgroup partners. Results from a behavioural experiment in Papua New Guinea fit exactly this pattern. They thus suggest neither an evolutionary history of repeated interactions without group competition nor a history of group competition without repeated interactions. Instead, our results suggest social motives that evolved under the joint influence of both mechanisms.

  • (2023): Long-term effects of different VET-to-labor market transition patterns on subjective well-being Zeitschrift für Erziehungswissenschaft. Springer. ISSN 1434-663X. eISSN 1862-5215. Available under: doi: 10.1007/s11618-023-01213-4

    Long-term effects of different VET-to-labor market transition patterns on subjective well-being

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    Several studies have analyzed the outcome of vocational education and training (VET); however, they primarily compared individuals with different qualification levels. This perspective neglects the fact that adolescents can differ in their training courses and transition to the labor market. Thus far, evidence on the consequences of different VET-to-labor market transition patterns is scarce. Therefore, the present study distinguished different VET-to-labor market transition patterns of German trainees and analyzed the long-term consequences on subjective well-being (SWB) later in life. Our results show in-between differences in the SWB of trainees in further life by different VET-to-labor market transition patterns. Compared to individuals with direct VET-to-labor market transitions, individuals who experienced a premature training termination and did not return to institutionalized education were more likely to have lower SWB later in life. Additionally, participating in general or higher education programs after VET seems to be beneficial. However, completing multiple VET programs did not influence SWB. The results underline the importance of strategies to prevent early leaving from education and training.

  • (2023): Rescue policies for small businesses in the COVID-19 recession Review of Economic Dynamics. Elsevier. 2023, 51, pp. 579-603. ISSN 1094-2025. eISSN 1096-6099. Available under: doi: 10.1016/j.red.2023.06.003

    Rescue policies for small businesses in the COVID-19 recession

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    While the COVID-19 pandemic had a large and asymmetric impact on firms, many countries quickly enacted massive business rescue programs which are specifically targeted to smaller firms. Little is known about the effects of such policies on business entry and exit, investment, factor reallocation, and macroeconomic outcomes. This paper builds a general equilibrium model with heterogeneous and financially constrained firms in order to evaluate the short- and long-term consequences of small firm rescue programs in a pandemic recession. We calibrate the stationary equilibrium and the pandemic shock to the U.S. economy, taking into account the factual Paycheck Protection Program (PPP) as a specific policy. We find that the policy has only a modest impact on aggregate output and employment because (i) jobs are saved predominately in the smallest firms that account for a minor share of employment and (ii) the grant reduces the reallocation of resources towards larger and less impacted firms. Much of the reallocation effects occur in the aftermath of the pandemic episode. By preventing inefficient liquidations, the policy dampens the long-term declines of aggregate consumption and of the real wage, thus delivering small welfare gains.

  • Wie gelingt die Integration junger Zugewanderter in den Arbeitsmarkt? : Das Integration@Work-Projekt

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    Aktuell gibt es eine steigende Zuwanderung in den deutschen Arbeitsmarkt – nicht nur von Geflüchteten, sondern auch durch die aktive Anwerbung ausländischer Fachkräfte. Im Hinblick auf eine erfolgreiche ökonomische und soziale Integration spielt das duale Ausbildungssystem eine wichtige Rolle. Allerdings zeigen sich bei zugewanderten Auszubildenden deutlich höhere Abbruchquoten als bei Auszubildenden mit deutschem Pass. Besonders ausgeprägt ist das in Branchen, die stark vom Fachkräftemangel betroffen sind, wie im Handwerk oder den Pflegeberufen. In diesem Policy Paper werden Faktoren identifiziert, die die Integration junger Zugewanderter in den Ausbildungsmarkt verbessern und entsprechende Handlungsempfehlungen an Ausbildungsbetriebe und politische Akteure formuliert.

  • (2023): Between Trust and Ambivalence : How Does Trainee Teachers’ Perception of the Relationship With Their Mentors Explain How Trainee Teachers Experience Their Work? Vocations and Learning. Springer. ISSN 1874-785X. eISSN 1874-7868. Available under: doi: 10.1007/s12186-023-09340-z

    Between Trust and Ambivalence : How Does Trainee Teachers’ Perception of the Relationship With Their Mentors Explain How Trainee Teachers Experience Their Work?

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    The study aims to identify profiles of trainee teachers in terms of their stress and work experiences and to uncover profile differences in regard to dropout intentions and perceived relationships between trainee teachers and their mentors. Based on data from 1,756 German trainee teachers, three distinct stress and work experience profiles could be identified. Trainee teachers with high levels of stress and negative work experiences exhibit higher dropout intentions and experience their relationship with their mentors as less transparent, fair and trusting, and more ambivalent compared to trainee teachers with low levels of stress and positive work experiences. The results underline the importance of the relationship between mentors and trainee teachers for the professional development of future teachers.

  • (2023): The role of international cooperation in the development of vocational education in Ukraine European Journal of Education. Wiley. 2023, 58(4), pp. 665-680. ISSN 0141-8211. eISSN 1465-3435. Available under: doi: 10.1111/ejed.12586

    The role of international cooperation in the development of vocational education in Ukraine

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    Since gaining independence, Ukraine has recognised the need to reform its vocational education and training (VET) system to better align with new economic realities. This necessity was largely driven by the country's increasing openness to the world and its desire to integrate with the European Union, which became especially pronounced after the Euromaidan protests in 2014. As a result, the government has pursued policies that are more closely aligned with the European Union. This led to greater international cooperation in the sphere of VET in Ukraine. The study on which this article reports analyses the impact of international organisations and cooperation programmes, as well as actions, initiatives and projects, on the changes and reforms in the Ukrainian VET system from 2013 to 2022 on normative and institutional levels. We adopt a theoretical framework that explains the areas and instruments of influence on policymaking in education used by international organisations. The method applied in the study is interviews with experts from international projects and initiatives currently active in Ukraine. Our findings indicate that international cooperation programmes have had a significant impact on the development of vocational education in Ukraine, particularly in areas such as the governance of the VET system, public‐private partnerships, quality assurance, qualifications frameworks, and digitalisation.

  • Marketing-Management : Märkte, Marktforschung und Marktbearbeitung

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    dc.title:


    dc.contributor.author: Sander, Matthias

  • (2023): Adding household surveys to the behavioral economics toolbox : insights from the SOEP innovation sample Journal of the Economic Science Association. Springer. ISSN 2199-6784. eISSN 2199-6776. Available under: doi: 10.1007/s40881-023-00150-6

    Adding household surveys to the behavioral economics toolbox : insights from the SOEP innovation sample

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    While laboratory and field experiments are the major items in the toolbox of behavioral economists, household panel studies can complement them and expand their research potential. We introduce the German Socio-Economic Panel’s Innovation Sample (SOEP-IS), which offers researchers detailed panel data and the possibility to collect personalized experimental and survey data for free. We discuss what SOEP-IS can offer to behavioral economists and illustrate a set of design ideas with examples. Although we build our discussion on SOEP-IS, our purpose is to provide a guide that can be generalized to other household panel studies as well.

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