The more generous social welfare system in Europe is one of the most important differences between the European and the US society. Defenders of the European welfare state argue that it improves social cohesion and prevents crime. On the other hand, the US economy is performing quite well such...

Summary According to the economic theory of crime, a rise in expected punishment - i.e. the product of probability and severity of punishment - results in a reduction of crime due to deterrence. What appears to be a simple and straightforward hypothesis turns out to be a demanding task for...

According to the economic theory of crime, a rise in expected punishment - i.e. the product of probability and severity of punishment - results in a reduction of crime due to deterrence. What appears to be a simple and straightforward hypothesis turns out to be a demanding task for empirical...

This paper presents a new approach to obtaining unbiased estimates of the value of a statistical life (VSL) with labor market data. Investigating job changes, we combine the advantages of recent panel studies, allowing us to control for unobserved heterogeneity of workers, and conventional...

Zusammenfassung Die Analyse von Paneldaten für Deutschland und Portugal und die Schätzung von Matching- Funktionen für Berufsgruppen zeigt in Deutschland eine fallende und in Portugal eine steigende Effizienz des Matching-Prozesses. Löhne in Deutschland und Mindestlöhne in Portugal sind...

Summary We study the response of the German stock market index DAX to the announcement of macroeconomic business cycle forecasts. Returns are computed using high-frequency data observed for 15-second intervals. Publications of macroeconomic US indicators at 2:30 p.m. (CET) have temporary and...

Summary In this paper data from a survey of 1,771 inmates conducted in 31 German prisons provide microeconometric evidence on the relationship between individual anticipated labour market opportunities and the perceived probability of future recidivism. Results show that inmates with poor labour...

As global migration flows increase, so do the number of migrant students in host country schools. Yet migrants' achievement scores lag well behind those of their nativeborn schoolmates. Performance gaps are explained largely by differences in migrant parents' socio-economic background, cultural...