Empirical work on the wage impact of training has noted that unobserved heterogeneity of training participants should play a role. The expected return to training, which partly depends on unobservable characteristics, is likely to be a crucial criterion in the decision to take part in training...

In this paper, human capital investments are evaluated by assuming heterogeneous returns to education. We use the potential outcome approach to measure the causal effect of human capital investments on earnings as a continuous treatment effect. Empirical evidence is based on a sample of West...

This paper analyzes which factors are driving the ZEW Indicator of Economic Sentiment. Using the results of a poll among survey participants as well as Granger causality tests we identify three groups of influence factors: other sentiment indicators, financial variables and real economy data. In...

Die Untersuchung analysiert das Sparverhalten der über 30- bis unter 50jährigen Personen bzw. Haushalte mit Haushaltsvorständen in dieser Altersgruppe in Reaktion auf erhaltene Erbschaften bzw. Transfers zu Lebzeiten. Zugrunde liegen aktuelle Daten des Sozio-oekonomischen Panels. Mittels...