We examine the additivity of stock-market expectations over different time intervals. When asked about a ten-year interval, survey respondents expect a stock-price change that is not equal to, but closer to zero than, the sum of their expectations over two shorter time intervals that cover the...

This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks on an 11-point scale, we find...

With banking sectors worldwide still suffering from the effects of the financial crisis, public discussion of plans to place toxic assets in one or more bad banks has gained steam in recent weeks. The following paper presents a plan how governments can efficiently relieve ailing banks from toxic...

This paper focuses on the entrepreneurial endeavors of immigrants and natives in Germany. We pay closer attention to Turks, since they are the largest immigrant group with a strong entrepreneurial tradition, and the self-employed Turks in Germany represent about 70% of all Turkish entrepreneurs...

Gender role attitudes are well-known determinants of female labor supply. This paper examines the strength of those attitudes using time diaries on childcare, food management and religious activities provided by the British Time Use Survey. Given the low labor force participation of females from...

This paper studies the determinants of naturalization among Turkish and ex-Yugoslav immigrants in Germany differentiating between actual and planned citizenship. Using the German Socio-Economic Panel, we measure the impact that integration and ethnicity indicators exert on the probability to...

Vor zehn Jahren hat der deutsche Wissenschaftsrat mit seiner Forderung nach einer Verstärkung der akademischen Forschungsleistungen an den deutschen Wirtschaftsforschungsinstituten einen Regimewechsel eingeleitet. Der Anstoß wurde von der Leibniz-Gemeinschaft, der Dachgesellschaft der...

Mobility of workers involves flows of labour, human capital and other production factors and thus contributes to a more efficient allocation of resources. Besides these effects on allocative efficiency, migrant flows affect relative wages and also change the international and national...

The paper studies opinions and attitudes towards immigrants and minorities and their interactions with other barriers to minorities' economic integration. Specifically, we consider the minority experts' own perceptions about these issues, the veracities and repercussions of unfavorable attitudes...

The 2004 and 2007 enlargements of the European Union were unprecedented in a number of economic and policy aspects. This essay provides a broad and in-depth account of the effects of the post-enlargement migration flows on the receiving as well as sending countries in three broader areas: labour...