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Incentive Pay and Bank Risk-Taking : Evidence from Austrian, German, and Swiss Banks

Efing, Matthias; Hau, Harald; Kampkötter, Patrick; … - 2021

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify … document an economically significant correlation of incentive pay with both the level and volatility of bank trading income … share in the capital markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking …

Persistent link: https://www.econbiz.de/10013224886

Snow and Leverage

Giroud, Xavier - 2010

Using a sample of highly (over-)leveraged Austrian ski hotels undergoing debt restructurings, we show that reducing a debt overhang leads to a significant improvement in operating performance (return on assets, net profit margin). In particular, a reduction in leverage leads to a decrease in...

Persistent link: https://www.econbiz.de/10013136557

Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions

Manoli, Dayanand - 2011

This paper presents new empirical evidence on the effects of retirement benefits on labor force participation decisions. We use administrative data on the census of private sector employees in Austria and variation from mandated discontinuous changes in retirement benefits from the Austrian...

Persistent link: https://www.econbiz.de/10013121068

Irving Fisher and Price-Level Targeting in Austria : Was Silver the Answer?

Burdekin, Richard C. K. - 2011

The question of price level versus inflation targeting remains controversial. Disagreement concerns, not so much the desirability of price stability, but rather the means of achieving it. Irving Fisher argued for a commodity dollar standard where the purchasing power of money was fixed by...

Persistent link: https://www.econbiz.de/10013123702

Nonlinear Policy Rules and the Identification and Estimation of Causal Effects in a Generalized Regression Kink Design

Card, David - 2012

We consider nonparametric identification and estimation in a nonseparable model where a continuous regressor of interest is a known, deterministic, but kinked function of an observed assignment variable. This design arises in many institutional settings where a policy variable (such as weekly...

Persistent link: https://www.econbiz.de/10013097659

Parental Leave and Children's Schooling Outcomes : Quasi-Experimental Evidence from a Large Parental Leave Reform

Danzer, Natalia - 2013

This paper investigates the question whether long-term human capital outcomes are affected by the duration of maternity leave, i.e. by the time mothers spend at home with their newborn before returning to work. Employing RD and difference-in-difference approaches, this paper exploits an...

Persistent link: https://www.econbiz.de/10013075860

Returns to Apprenticeship Training in Austria : Evidence from Failed Firms

Fersterer, Josef - 2007

Little is known about the payoffs to apprenticeship training in the German speaking countries for the participants. OLS estimates suggest that the returns are similar to those of other types of schooling. However, there is a lot of heterogeneity in the types of apprenticeships offered, and...

Persistent link: https://www.econbiz.de/10012776154

Wages and the Value of Nonemployment

Jäger, Simon - 2018

Nonemployment is often posited as a worker's outside option in wage setting models such as bargaining and wage posting. The value of nonemployment is therefore a key determinant of wages. We measure the wage effect of changes in the value of nonemployment among initially employed workers. Our...

Persistent link: https://www.econbiz.de/10012908465

Fatal Attraction? Extended Unemployment Benefits, Labor Force Exits, and Mortality

Kuhn, Andreas - 2018

We estimate the causal effect of permanent and premature exits from the labor force on mortality. To overcome the problem of negative health selection into early retirement, we exploit a policy change in unemployment insurance rules in Austria that allowed workers in eligible regions to exit the...

Persistent link: https://www.econbiz.de/10012909903

Child Penalties Across Countries : Evidence and Explanations

Kleven, Henrik - 2019

This paper provides evidence on child penalties in female and male earnings in different countries. The estimates are based on event studies around the birth of the first child, using the specification proposed by Kleven et al. (2018). The analysis reveals some striking similarities in the...

Persistent link: https://www.econbiz.de/10012893143

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