Unit root tests for time series with level shifts are considered. The level shift is assumed to occur at a known time point. In contrast to some other proposals the level shift is modeled as part of the intercept term of the stationary component of the data generation process which is separated...

The conditions under which European monetary policy is likely to be conducted are investigated by means of multi-variate time series modelling using aggregated data of all eleven European Monetary Union member states. A cointegration analysis identifies two stable long-run relationships within a...

It has long been recognized that aggregating time series introduces correlation between consecutive values of the aggregated observations (see Working (1960)). This paper investigates the effect of aggregation on the relation between variables assuming that the data generating process involves...

Das Sozio-oekonomische Panel (SOEP) ist als multidisziplinäres Haushaltspanel, das Informationen zu allen Personen, die in einem Panel-Haushalt leben, erhebt und damit alle Altersjahrgänge abdeckt, nach 25 Jahren Laufzeit auch zu einer Kohorten- Studie geworden. Der zunehmende Erfolg der...

There are strong two-way links between parent and child happiness (life satisfaction), even for 'children' who have grown up, moved to their own home and partnered themselves. German panel evidence shows that transmission of (un)happiness from parents to children is partly due to transmission of...

How socio-cultural contexts shape individual functioning is of prime interest for psychological inquiry. Secular increases favoring later-born cohorts in fluid intelligence measures are widely documented for young adults. In the current study, we quantify such trends in old age using data from...

Using a unique dataset we study both the actual and self-perceived relationship between subjective well-being and income comparisons against a wide range of potential comparison groups, enabling us to investigate a broader range of questions than in previous studies. In questions inserted into a...