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In a two-period model with agent heterogeneity we analyze a pension reform toward a stronger link between contributions and benefits (as recently observed in several countries) in a pension system with a Bismarckian and a Beveridgian component. We show that such a policy change reduces the...
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This paper investigates the evolution of wages and the recent tendency to rising wage inequality in Germany, based on the German Socio-Economic Panel (GSOEP) for 1984 to 2004. Between 1984 and 1994 the wage distribution was fairly stable. Wage inequality started to increase around 1994 in...
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Using a sample of high-school students from North Rhine-Westphalia, I find evidence that noncognitive skills … significantly increase performance in school and success in professional life as well as happiness at age forty-three. Since test … noncognitive skills. The analysis shows that a high degree of self-regulation increases success in school as well as income …
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