Apart from a priori assumptions on instantaneous or long run effects of structural shocks, sign restrictions have become a prominent means for structural vector autoregressive (SVAR) analysis. Moreover, second order heterogeneity of systems of times series can be fruitfully exploited for...

Several formal methods have been proposed to check identification in DSGE models via (i) the autocovariogram (Iskrev 2010), (ii) the spectral density (Komunjer and Ng 2011; Qu and Tkachenko 2012), or (iii) Bayesian indicators (Koop et al 2012). Even though all methods seem similar, there has been no...

In this paper I use a multi-period OLG model to study how a demographic shock is distributed among different generations. In particular, I investigate whether a funded pension system allows for a smoother adjustment than an unfunded system. The results suggest that the answer to this question...

We analyze the di fferential growth e ffects of basic research, applied research, and embodied human capital accumulation in an R&D-based growth model with endogenous fertility and endogenous education. In line with the empirical evidence, our model allows for i) a negative association between...

Demografischer Wandel und die strukturellen Veränderungen auf dem Arbeitsmarkt tragen gemeinsam zur Alterung des Beschäftigtenbestands bei. Während der demografische Wandel eine gesellschaftliche Entwicklung ist, variieren Arbeitsmarkttrends über Berufe. Basierend auf Beschäftigtendaten der...

We show that parental socioeconomic status (SES) is a powerful predictor of many facets of a child's personality. The facets of personality we investigate encompass time preferences, risk preferences, and altruism that are important noncognitive skills, as well as crystallized, fluid, and...

This paper investigates the impact of a devastating weather shock on child anthropometrics, using data from Mongolia. We employ a diff-in-diff strategy to identify the effect of an extremely harsh winter in 2010, which caused the death of about 20 percent of the national livestock. Results...

We consider a bargaining model in which husband and wife decide on the allocation of time and disposable income. Since her bargaining power would go down otherwise more strongly, the wife agrees to having a child only if the husband also leaves the labor market for a while. The daddy months...

As the number of young children in daycare increases, people start to worry about the effect of early non-parental care. This is of special relevance as investments in the early periods of life are shown to be most important for a child’s long term development. Based on the German national...

This paper examines the effects of a major change in German parental transfer system on fertility. I use the largely unanticipated reform of 2007 as a natural experiment to assess how an earnings-dependent parental leave benefit effects higher-order fertility. Given the recent introduction, this...