The nexus between income and happiness is very much disputed. Many cross-sectional studies seem to be in support of a positive relationship. Yet, the failure of most studies to find a similar link between increases in income through time and happiness in developed countries of the western...

In this paper we study labor market transitions among self-employment, gainful employment, and unemployment across the business cycle comparing the performance of migrants and natives and controlling for individual characteristics. The Markov chain specification we use is an appropriate...

This article questions the perceived wisdom that migrants are more risk-loving than the native population. We employ a new large German survey of direct individual risk measures to find that first-generation migrants have lower risk attitudes than natives, which only equalize in the second...

The authors contend that the costs of the euro in Germany outweigh the benefits. How they determine this is interesting and controversial. But this point of view deserves a hearing.

This paper uses a state of the art three-stage estimation technique to identify the determinants of the self-employed immigrant and native men in Germany. Their making is surprisingly alike. Employing data from the German Socioeconomic Panel 2000 (GSOEP) release we find that self-employment is...