This paper analyzes how culture affects the engagement of parents in child-rearing activities, and time allocations of parents inside the family. We use data from the World Value Survey to construct a country-specific measure of the value attached to obedience as a child quality, which we...

We develop a new model of the intergenerational transmission of culture based on the labor market characteristics of different cultural types. Following Borjas (1994,1995) we assume that cultural heterogeneity increases labor productivity due to skill complementarities, however following Jackson...

We reassess the scarring" hypothesis by Clark et al. (2001), which states that unemployment experienced in the past reduces a person's current life satisfaction even after the person has become reemployed. Our results suggest that the scar from past unemployment operates via worsened...

We examine the differential effects of COVID-19 and related restrictions on individuals with dependent children in Germany. We specifically focus on the role of school and day care center closures, which may be regarded as a “disruptive exogenous shock” to family life. We make use of a novel...

In most research on Life Satisfaction (LS), it is assumed that the covariates of high and low LS are the same for everyone, or at least everyone in the West. In this paper, analysing data from the German Socio-Economic Panel, with a limited replication based on Australian panel data, we estimate...

Since the late 1970s, the price indices underlying the poverty lines in India have been updated using aggregate indices. Widespread criticism of these indices led to the adoption of a new official methodology in 2011 based on unit values from consumption survey data. We propose an alternative...

How much retirement income is needed in order to maintain one's living standard at old age? As it is difficult to find a firm basis for an empirical treatment of this question, we employ a novel approach to assessing an adequate replacement rate vis-à-vis income in the pre-retirement period. We...

We study an investment experiment conducted with a representative sample of German households. Respondents invest in a safe asset and a risky asset whose return is tied to the German stock market. Experimental investments correlate with beliefs about stock market returns and exhibit desirable...