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Does consumption decline at retirement? : evidence from repeated cross-section data for Germany

Beznoska, Martin; Steiner, Viktor - 2012

The life-cycle hypothesis implies that consumption would not decline at retirement. However, several studies found relevant declines in food consumption after retirement for the United States. Others concluded that this contradiction of the life-cycle hypothesis is solved by allowing for broader...

Persistent link: https://www.econbiz.de/10009579313

Public pensions, changing employment patterns, and the impact of pension reforms across birth cohorts : a microsimulation analysis for Germany

Geyer, Johannes; Steiner, Viktor - 2010

We analyze the impact of changing employment patterns and pension reforms on the future level of public pensions across … pensions across cohorts taking into account changing demographics and recent pension reforms. Simulations show that pension … increasing or stable due to rising labor market participation of younger birth cohorts. -- Public pensions ; cohort effects …

Persistent link: https://www.econbiz.de/10003945965

Self-employment - a way to end unemployment? : empirical evidence from German pseudo-panel data

Glocker, Daniela (contributor); Steiner, Viktor (contributor) - 2007

This paper contributes to the policy-relevant question whether self-employment is a way out of (long-term) unemployment. We estimate the relationship between the entry rate into self-employment and previous (long-term) unemployment on the basis of pseudo-panel data for Germany in the period...

Persistent link: https://www.econbiz.de/10003411709

"Marginal employment" and the demand for heterogenous labour : empirical evidence from a multi-factor labour demand model for Germany

Freier, Ronny (contributor); Steiner, Viktor (contributor) - 2007

We develop a structural multi-factor labour demand model which distinguishes between eight labour categories including non-standard types of employment such as marginal employment. The model is estimated for both the number of workers and total working hours using a new panel data set. For...

Persistent link: https://www.econbiz.de/10003411711

The forward premium puzzle and latent factors day by day

Bernoth, Kerstin; Hagen, Jürgen von; Vries, Casper G. de - 2010

We use futures instead of forward rates to study the complete maturity spectrum of the forward premium puzzle from two days to six months. At short maturities the slope coefficient is positive, but these turn negative as the maturity increases to the monthly level. Futures data allow us to...

Persistent link: https://www.econbiz.de/10003949496

Drivers of private equity investment in CEE and Western European countries

Bernoth, Kerstin; Colavecchio, Roberta; Sass, Magdolna - 2010

A strong private equity market is a cornerstone for commercialization and innovation in modern economies. However, substantial differences exist in the relative amounts raised and invested in private equity across European countries. We investigate the macro-determinants of private equity...

Persistent link: https://www.econbiz.de/10003962276

The incidence of the European Union Emissions Trading System and the role of revenue recycling : empirical evidence from combined industry- and household-level data

Beznoska, Martin; Cludius, Johanna; Steiner, Viktor - 2012

We calculate the expected incidence of the European Union Emissions Trading System (EU-ETS) using industry and household-level data. By combining data on direct CO2 emissions by production sector from the German Environmental Account with the German Input-Output Accounts, we calculate the CO2...

Persistent link: https://www.econbiz.de/10009579351

Monetary policy and mispricing in stock markets

Beckers, Benjamin; Bernoth, Kerstin - 2016

This paper investigates whether central banks can attenuate excessive mispricing in stocks as suggested by the proponents of a \leaning against the wind" (LATW) monetary policy. For this, we decompose stock prices into a fundamental component, a risk premium, and a mispricing component. We argue...

Persistent link: https://www.econbiz.de/10011526074

Sovereign bond yield spreads : a time-varying coefficient approach

Bernoth, Kerstin; Erdogan, Burcu - 2010

We study the determinants of sovereign bond yield spreads across 10 EMU countries between Q1/1999 and Q1/2010. We apply a semiparametric time-varying coefficient model to identify, to what extent an observed change in the yield spread is due to a shift in macroeconomic fundamentals or due to...

Persistent link: https://www.econbiz.de/10009272613

Labor market effects of the German tax reform 2000

Haan, Peter (contributor); Steiner, Viktor (contributor) - 2005

In the year 2000, the German government passed the most ambitious tax reform in postwar German history aiming at a significant tax relief for households. An important aim of this tax reform was to improve work incentives and, thereby, foster employment. Drawing on data of the German Socio...

Persistent link: https://www.econbiz.de/10002637914