The paper analyses the relationship between health and education in a two period human capital framework. The resulting substitution and investment effects between health and advanced training work in opposite direction and leave open questions for the empirical part. As econometric model we use...

In 2001, the voluntary additional Riester pension scheme was implemented in Germany. Financial subsidies should incentivize people to increase their private pension savings. In this paper, we hypothesize that these publicly subsidized savings mainly replace existing not subsidized savings and...

Estimation procedures for ordered categories usually assume that the estimated coefficients of independent variables do not vary between the categories (parallel-lines assumption). This view neglects possible heterogeneous effects of some explaining factors. This paper describes the use of an...

For empirical analysis and policy-oriented recommendation, the precise measurement of individual health or well-being is essential. The problem with variables based on questionnaires such as self-assessed health is that the answer may depend on individual reporting behaviour. Moreover, if...