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  •   31.03.26  
    (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.

  • Statistik über die Bewerber/innen für ein Studium an der Universität Konstanz. Studienjahr 2023/2024, 1. Studienabschnitt (Wintersemester)

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    Auswertung des Studienplatzvergabeverfahrens in Studiengängen mit örtlicher Zulassungsbeschränkung, in ZVS-Studiengängen und in zulassungsfreien Studiengängen.

  • 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.title:


    dc.contributor.author: Braun, Vera

  • (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.

  • 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.

  • 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): 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.

  • (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.

  • (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.

  • 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): 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.

  • (2023): stratEst : a software package for strategy frequency estimation Journal of the Economic Science Association. Springer. 2023, 9(2), pp. 337-349. ISSN 2199-6784. eISSN 2199-6776. Available under: doi: 10.1007/s40881-023-00141-7

    stratEst : a software package for strategy frequency estimation

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    stratEst is a software package for strategy frequency estimation in the freely available statistical computing environment R (R Development Core Team in R Foundation for Statistical Computing, Vienna, 2022). The package aims at minimizing the start-up costs of running the modern strategy frequency estimation techniques used in experimental economics. Strategy frequency estimation (Stahl and Wilson in J Econ Behav Organ 25: 309–327, 1994; Stahl and Wilson in Games Econ Behav, 10: 218–254, 1995) models the choices of participants in an economic experiment as a finite-mixture of individual decision strategies. The parameters of the model describe the associated behavior of each strategy and its frequency in the data. stratEst provides a convenient and flexible framework for strategy frequency estimation, allowing the user to customize, store and reuse sets of candidate strategies. The package includes useful functions for data processing and simulation, strategy programming, model estimation, parameter testing, model checking, and model selection.

  • (2023): Immersive VR-based instruction in vocational schools : effects on domain-specific knowledge and wellbeing of retail trainees Empirical Research in Vocational Education and Training. Springer. 2023, 15(1), 9. ISSN 1877-6337. eISSN 1877-6345. Available under: doi: 10.1186/s40461-023-00148-8

    Immersive VR-based instruction in vocational schools : effects on domain-specific knowledge and wellbeing of retail trainees

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    Immersive virtual reality (IVR) based simulation and training is gaining increasing importance in vocational education and training (VET). However, while IVR is primarily investigated and utilized in technical domains, its implementation and the resulting effects in commercial education remain largely unexplored. Moreover, the experience of motion sickness is a widely reported phenomenon while using IVR, which can interfere with cognitive processes and should therefore be considered more closely in terms of learning and instruction. This explorative study focuses on domain-specific knowledge acquisition in vocational apprenticeship for retailers and the accompanying side effects on students’ wellbeing in an IVR-based learning environment. For this purpose, an IVR-based scenario in a virtual supermarket was developed and tested with trainees in the field of retail at a German commercial vocational school. Using a quasi-experimental pretest-posttest design, we compared the effects of IVR-based and conventional instruction on domain-specific knowledge acquisition in a sample of first-year trainees ( N  = 79). The findings indicate an advantage of IVR in the acquisition of domain-specific knowledge ( ɳ2  = .261). Although moderate motion sickness symptoms were reported in the experimental group, no direct links between the experience of motion sickness and learning outcomes could be identified. These findings advance the current knowledge about learning-related effects of IVR-based instruction in the field of VET and provide further understanding about the special conditions of IVR scenarios conducive to learning.

  • (2023): Optimal retirement savings over the life cycle : A deterministic analysis in closed form Insurance: Mathematics and Economics. Elsevier. 2023, 112, pp. 48-58. ISSN 0167-6687. eISSN 1873-5959. Available under: doi: 10.1016/j.insmatheco.2023.05.010

    Optimal retirement savings over the life cycle : A deterministic analysis in closed form

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    In this paper, we explore the life cycle consumption-savings problem in a stylized model with a risk-free investment opportunity, a tax-deferred retirement account, and deterministic labor income. Our closed form solutions show that liquidity constraints can be severely binding; in particular in situations with a high growth rate of labor income, in which retirement saving is optimally postponed. With a tax-deferred account, it is always optimal to save in this (illiquid) account first before saving in the (liquid) taxable account in order to satisfy the needs for consumption smoothing. The optimal retirement savings pattern is far from the widespread practice of contributing a fixed fraction of current labor income over the working life to a tax-deferred environment.

  • (2023): Die wahrgenommene Verantwortung von Trainer/innen für kurzfristige und langfristige Trainingsergebnisse Gruppe. Interaktion. Organisation : Zeitschrift für Angewandte Organisationspsychologie (GIO). Springer. 2023, 54(3), pp. 361-370. ISSN 2366-6145. eISSN 2366-6218. Available under: doi: 10.1007/s11612-023-00704-6

    Die wahrgenommene Verantwortung von Trainer/innen für kurzfristige und langfristige Trainingsergebnisse

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    Studien zu schulischen Lehrkräften sowie Befunde aus der Arbeits- und Organisationspsychologie belegen, dass das berufliche Verantwortungsgefühl in positivem Zusammenhang mit Motivation und Engagement steht. Die vorliegende Studie in der Zeitschrift Gruppe. Interaktion. Organisation. (GIO) geht deshalb der Fragestellung nach, inwieweit sich Weiterbildner/innen verantwortlich fühlen in Bezug auf unterschiedliche Trainingsresultate. Dazu wurden bei einer Online-Befragung N  = 393 Trainer/innen aus dem Bereich der berufsbezogenen Weiterbildung gebeten, sowohl ihre persönliche Verantwortung als auch die von außen zugewiesene Verantwortung im Rahmen eines konkreten Trainings rückblickend einzuschätzen. Zunächst ergab eine explorative Faktorenanalyse mit Varimax-Rotation für die beiden Verantwortungskonzepte jeweils zwei Faktoren, die Verantwortung für kurzfristige Trainingsergebnisse sowie die Verantwortung für langfristige Trainingsergebnisse . Anschließende Mittelwertvergleiche führten zu dem weiteren Ergebnis, dass bezüglich langfristiger Ergebnisse die persönliche Verantwortung von Trainer/innen geringer ausfällt als die zugewiesene Verantwortung ( p  < 0,001, d  = 0,33). Ferner zeigte sich, dass Trainer/innen hinsichtlich kurzfristiger Ergebnisse wie der Zufriedenheit oder des Lernerfolgs der Teilnehmenden mehr Verantwortung verspüren als für langfristige Trainingsergebnisse wie den Transfer oder die verbesserte Arbeitsleistung der Teilnehmenden ( p  < 0,001, d  = 0,82), was im Einklang steht mit sowohl theoretischen Überlegungen bezüglich der generellen Verantwortlichkeit von Lehrenden im Lernprozess als auch mit einzelnen empirischen Befunden zu Trainer/innen. Mit Blick auf die Weiterbildungspraxis werden schließlich Ansätze diskutiert, wie das Verantwortungsgefühl der Lehrenden gestärkt werden kann.

  • (2023): Robust Bidding in First-Price Auctions : How to Bid Without Knowing What Others Are Doing Management Science. Institute for Operations Research and the Management Sciences (INFORMS). ISSN 0025-1909. eISSN 1526-5501. Available under: doi: 10.1287/mnsc.2023.4899

    Robust Bidding in First-Price Auctions : How to Bid Without Knowing What Others Are Doing

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    We propose how to bid in first-price auctions when a bidder knows the own value but not how others will bid. To do this, we introduce a methodology to show how to make choices in strategic settings without assuming common knowledge or equilibrium behavior. Accordingly, we first eliminate environments that are believed not to occur and then find a robust rule that performs well in the remaining environments. We test our bids using data from laboratory experiments and the field and find that our bids outperform those made by real bidders.

  • (2023): The causal effect of corporate governance on employee satisfaction Journal of Financial Research. Wiley. ISSN 0270-2592. eISSN 1475-6803. Available under: doi: 10.1111/jfir.12350

    The causal effect of corporate governance on employee satisfaction

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    We investigate the causal effect of increasing shareholder rights on employee satisfaction. To ensure causality, we use close shareholder votes on antitakeover provisions included in the Entrenchment Index (E‐Index) as exogenous shocks to the corporate governance of a company. A 1‐point increase in shareholder rights on the E‐Index scale causes a 10% decrease in employee satisfaction. The channels that drive our results are decreases in employees' opinion about firm culture, in their view about the company's CEO, in the number of employees, and in capital expenditures.

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