nep-eur New Economics Papers
on Microeconomic European Issues
Issue of 2015‒09‒11
23 papers chosen by
Giuseppe Marotta
Università degli Studi di Modena e Reggio Emilia

  1. Precarious and Less Well Paid? Wage Differences between Permanent and Fixed-term Contracts across the EU By Dias da Silva, António; Turrini, Alessandro
  2. How Do Native and Migrant Workers Contribute to Innovation? By Fassio, Claudio; Montobbio, Fabio; Venturini, Alessandra
  3. Social assistance and minimum income benefits: Benefit levels, replacement rates and policies across 33 countries, 1990-2009 By Wang, Jinxian; Van Vliet, Olaf
  4. The settlement procedure in EC cartel cases: An empirical assesment By Hüschelrath, Kai; Laitenberger, Ulrich
  5. The dynamics of earnings in Germany: Evidence from social security records By Bönke, Timm; Giesecke, Matthias; Lüthen, Holger
  6. Hours Worked in the US and Europe: Different Data, Different Answers By Nicola Fuchs-Schuendeln; Bettina Brueggemann; Alexander Bick
  7. Restructuring European Electricity Markets ? A Panel Data Analysis By Hyland, Marie
  8. Time-varying individual risk attitudes over the Great Recession: A comparison of Germany and Ukraine By T. Dohmen; H. Lehmann; N. Pignatti
  9. Do we have the right kind of diversity in Innovation Policies among EU Member States? By Reinhilde Veugelers
  10. The German Labor Market Reforms and Post-Unemployment Earnings By Niklas Engbom; Enrica Detragiache; Faezeh Raei
  11. The duration of the EC merger control process: Determinants and the impact of the 2004 merger regulation reform By Heim, Sven; Hüschelrath, Kai; Laitenberger, Ulrich
  12. Testing semi-strong efficiency in a fixed odds betting market: Evidence from principal European football leagues. By Bernardo, Giovanni; Ruberti, Massimo; Verona, Roberto
  13. Forms of knowledge and eco-innovation modes: Evidence from Spanish manufacturing firms By Alberto Marzucchi; Sandro Montresor
  14. The Effectiveness of Fiscal Stimuli for Working Parents By de Boer, Henk-Wim; Jongen, Egbert L. W.; Kabátek, Jan
  15. The network of international student mobility: Enlargement and consolidation of the European transnational education space? By Vögtle, Eva Maria; Windzio, Michael
  16. Does Public Sector Inefficiency Constrain Firm Productivity: Evidence from Italian Provinces By Raffaela Giordano; Sergi Lanau; Pietro Tommasino; Petia Topalova
  17. Hospital Employment and Local Unemployment: Evidence from French Health Reforms By Andrew E. Clark; Carine Milcent
  18. The Unaccompanied Refugee Minors and the Swedish Labour Market By Celikaksoy, Aycan; Wadensjö, Eskil
  19. SIMTASK: A Microsimulation model of the Slovak Tax-Benefit System By Zuzana Siebertova; Norbert Svarda; Jana Valachyova
  20. Were we really all in it together? The distributional effects of the 2010-2015 UK Coalition government's tax-benefit policy changes: an end-of-term update By Paola De Agostini; John Hills; Holly Sutherland
  21. Competition in the German interurban bus industry: A snapshot two years after liberalization By Dürr, Niklas S.; Hüschelrath, Kai
  22. The challenge of measuring UK wealth inequality in the 2000s By Alvaredo, Facundo; Atkinson, Tony; Morelli, Salvatore
  23. Unfair Wage Perceptions and Sleep: Evidence from German Survey Data By Pfeifer, Christian

  1. By: Dias da Silva, António (VU University Amsterdam); Turrini, Alessandro (European Commission)
    Abstract: We analyse wage differences between permanent and fixed-term contracts across the EU using data from the European Structure of Earnings Survey. We find that, after controlling for individual and job characteristics, workers on permanent contracts earn on average about 15% more than workers on fixed-term contracts with similar observable characteristics. The permanent contract wage premium is higher for men, workers at middle age and with middle education, and performing non-elementary occupations. We also find that permanent workers enjoy a higher wage premium for education and age. We explore cross-country differences in the wage premium for permanent workers and correlate them with indicators of labour market institutions. In particular, results indicate that the wage premium is higher the stricter is employment protection for permanent contracts and the higher the share of temporary employment, which supports the view that workers with fixed-term contracts suffer from a negative wage gap due to lower bargaining power.
    Keywords: contract type, wage premium, segmentation
    JEL: J31 J41 J42
    Date: 2015–08
  2. By: Fassio, Claudio; Montobbio, Fabio; Venturini, Alessandra (University of Turin)
    Abstract: This paper uses the French and the UK Labour Force Surveys and German Microcensus to estimate the effects of the different components of the labour force on innovation at the sectoral level between 1994 and 2005, focusing in particular on the contribution of migrant workers. We adopt a production function approach in which we control for the usual determinants of innovation, such as R&D investments, stock of patents and openness to trade. To address for the possible endogeneity of migrants we implement instrumental variable strategies using both two-stage least squares with external instruments and GMM-SYS with internal ones. In addition we also account for the possible endogeneity of native workers and instrument them accordingly. Our results show that highly educated migrants have a positive effect on innovation even if the effect is smaller relative to the one of the educated natives. Moreover this positive effect seems to be confined to the high tech sectors and among highly educated migrants from other European countries.
    Date: 2015–05
  3. By: Wang, Jinxian; Van Vliet, Olaf
    Abstract: Until recently, social assistance has received relatively little attention in the comparative welfare state literature, which is remarkable given its central function in combating poverty and pursuing social inclusion. This paper explores the developments of social assistance and minimum income benefits across 14 Western European countries, 12 Central and Eastern European countries and 7 non-European countries over the period 1990-2009. First, an institutional analysis shows that eligibility conditions, work requirements and benefit sanctions vary considerably across countries. Second, relying on new indicators, our analysis shows that real benefit levels increased in most countries, whilst the net income replacement rates declined on average. This development seems to fit with a ‘making work pay’ agenda. A subsequent qualitative analysis of the policies underlying the quantitative measures indicates that the declining replacement rates do not result from benefit cuts but from relatively larger wage increases. In addition, our policy analysis indicates that work requirements and benefit sanctions have become more activating in many countries. Third, the data indicate that social assistance benefits diverged across EU and other OECD countries between 1990 and 2009. Finally, this paper seeks to make a methodological contribution to the ongoing debate on the ‘dependent variable problem’ in the welfare state literature by analysing to what extent changes in quantitative indicators reflect actual policy changes.
    Keywords: social assistance benefit replacement rates, welfare state reform, social inclusion, convergence, dependent variable problem
    JEL: H53 H55 I31 I38
    Date: 2014–12–20
  4. By: Hüschelrath, Kai; Laitenberger, Ulrich
    Abstract: In June 2008, the European Commission (EC) was enabled to introduce a settlement procedure that aims at promoting the procedural efficiency of cartel enforcement in the European Union (EU). We use a data set consisting of 84 cartels decided by the EC from 2000 to 2014 to empirically investigate the impact of the EU settlement procedure on the duration of cartel investigations. Separating the enforcement process into two consecutive stages, we find that the introduction of the settlement procedure is followed by a substantial shortening of the second stage - reaching from the statement of objections (SO) to the decision - while it leaves the duration of the first stage from the beginning of the case to the SO unaffected. Subsequent to a discussion of further evaluation approaches we conclude that the EU Settlement Procedure has increased procedural efficiency of cartel enforcement in the European Union substantially.
    Keywords: competition policy,cartels,settlements,ex-post evaluation,European Union
    JEL: K21 L41
    Date: 2015
  5. By: Bönke, Timm; Giesecke, Matthias; Lüthen, Holger
    Abstract: This paper uncovers ongoing trends in idiosyncratic earnings volatility across generations by decomposing residual earnings auto-covariances into a permanent and a transitory component. We employ data on complete earnings life cycles for prime age men born 1935 through 1974 that covers earnings between 1960 and 2009. Over this period, the German labor market undergoes a heavy transformation and experiences strong deregulation, deunionization and a shift in employment from the industrial to the service sector. Our findings of increases in both components reflect the distinct phases of this transformation process. In magnitude, the transitory component increases most strongly in the early 1970s and the 1990s for young workers, whereas the permanent component displays the strongest increases for older workers in the early 1980 and the 2000s. Thus, the changes complicate the labor market entry for young workers while widening wage differences for established workers.
    Keywords: Earnings dynamics,Life cycle,Earnings distribution,Inequality,Earnings volatility
    JEL: D31 D33 H24
    Date: 2015
  6. By: Nicola Fuchs-Schuendeln (Goethe University Frankfurt /Main); Bettina Brueggemann (Goethe University Frankfurt); Alexander Bick (Arizona State University)
    Abstract: This paper constructs estimates of hours worked per person, employment rates and hours worked per employed on the aggregate level and broken down by demographic groups in the US and 18 European countries for the time period 1983 through 2011. We recur to three different micro data sets, describe in detail how to make the data sets consistent internationally and over time. We compare them to aggregate data from the OECD and the Conference Board (CB). These are the standard sources used by economists so far, but are in contrast to our data based on different type of data sources for different countries which potentially impede cross-sectional comparability. Based on our data, Europeans work on average 18 percent less hours than US citizens during the time period 2003 to 2007, compared to 13 percent based on OECD data and only 7 percent based on CB data. Matching/replicating these larger differences would be a harder challenge for the literature. However, our data predict a similar country ranking and a slightly smaller cross-sectional variation within Europe than the two other data sources. We further use our data to quantify by how much cross-country differences in the demographic structure, employment rates, weeks worked per year and weekly hours worked per employed, contribute to the cross-country differences in aggregate hours worked per person.
    Date: 2015
  7. By: Hyland, Marie
    Abstract: This paper looks at the restructuring of European electricity markets that has been taking place since the 1990s. This liberalisation process, driven largely by EU legislation aiming to create a single market for electricity, has led to significant changes in how electricity markets in member states operate. In this paper I estimate the impact of the restructuring process on electricity prices for industrial consumers. Much of the literature to date estimating the impacts of electricity market restructuring fails to take into account the potential endogeneity of the reform process. By using dynamic panel-data techniques, I aim to overcome this shortcoming. I find that once the potential endogeneity of reforms is accounted for, restructuring has, as of yet, had no statistically significant impact on electricity prices. This research highlights the importance of accounting for dynamics and endogeneity before drawing inferences about the results of EU electricity-market reform.
    Date: 2015–06
  8. By: T. Dohmen; H. Lehmann; N. Pignatti
    Abstract: We use the panel data of the German Socio-Economic Panel (SOEP) and of the Ukrainian Longitudinal Monitoring Survey (ULMS) to investigate whether risk attitudes have primary (exogenous) determinants that are valid in different stages of economic development and in a different structural context, comparing a mature capitalist economy and a transition economy. We then analyze the stability of the risk measures over time. Between 2007 and 2012 we have the Great Recession, which had a mild impact in the German labor market while it had a more profound impact on the Ukrainian labor market. This enables us to investigate whether and how the crisis impacted on the risk attitudes in the two countries. By focusing on self-employment we also investigate whether the reduced willingness to take risks as a consequence of the Great Recession affects labor market dynamics and outcomes.
    JEL: J64 J65 P50
    Date: 2015–09
  9. By: Reinhilde Veugelers
    Abstract: This contribution focuses on the heterogeneity in innovation capacity within Europe across its different Member State. Who are the leading and who are the lagging EU countries? Is there a trend towards convergence over time? And how has the crisis affected this trend of convergence? We then take a look at the research and innovation policies which the EU countries have in place and try to assess whether these policies match with the heterogeneous EU countries’ innovation capacity positions. We examine both the budgets allocated by EU Member States to R&I as well as the various kinds of R&I policy programmes being deployed. More particularly, we examine how heterogeneous the deployment of policy instruments is across EU member states and whether this matches with the heterogeneity in innovation capacity development among EU countries. Notwithstanding the large and increasing heterogeneity among EU countries in innovation capacity development, the evidence on innovation policies in EU countries shows a relative homogeneity of policy mixes in different countries. Current innovation policy mixes of instruments do not well reflect the countries’ levels of innovation capacity development.
    Keywords: Innovation, Innovation policy, Institutional reforms, Multi-level governance
    JEL: O31 O38
    Date: 2015–08
  10. By: Niklas Engbom; Enrica Detragiache; Faezeh Raei
    Abstract: In 2003–05, Germany undertook extensive labor market reforms which were followed by a large and persistent decline in unemployment. Key elements of the reforms were a drastic cut in benefits for the long-term unemployed and tighter job search and acceptance obligations. Using a large confidential data set from the German social security administration, we find that the reforms were associated with a fall in the earnings of workers returning to work from short-term unemployment relative to workers in long-term employment of about 10 percent. We interpret this as evidence that the reforms strengthened incentives to return to work but, in doing so, they adversely affected post re-entry earnings.
    Keywords: Germany;Unemployment;Labor market reforms;labor market, workers, labor, unemployment benefits, Unemployment: Models, Duration, Incidence, and Job Search, Germany.,
    Date: 2015–07–17
  11. By: Heim, Sven; Hüschelrath, Kai; Laitenberger, Ulrich
    Abstract: The duration of merger proceedings held by competition authorities is an important determinant of the efficiency of the entire merger control process. We use a dataset of 2953 Phase I and 92 Phase II investigations completed by the European Commission (EC) between 1999 and 2008 to examine the key determinants of their duration. Differentiating between authority- and caserelated drivers, we find that while the duration of Phase I investigations largely depends on the type of decision and use of simplified procedure, the duration of Phase II investigations is driven by factors such as industry knowledge, the duration of the preceding Phase I investigation, the origin of the notifying firm or the number of identified relevant markets. We also provide evidence that the significant increase in average duration identified after the 2004 merger regulation reform does not imply a decrease in administrative efficiency, as the probability of indepth investigations was correspondingly reduced.
    Keywords: competition policy,ex-post evaluation,merger control,European Union
    JEL: K21 L41
    Date: 2015
  12. By: Bernardo, Giovanni; Ruberti, Massimo; Verona, Roberto
    Abstract: In this paper, we try to measure the semi-strong efficiency of the sports betting market. In particular, we aim to understand whether the efficiency of the market is realized in the case of fixed odds provided by bookmakers on the four major European football championships. By examining the trends of odds in the event of some major change in expectations about the teams’ results, i.e. when a team’s coach is replaced, we attempt to verify the argument that a profitable betting strategy for the bettor is likely possible. In this case, the market that we are taking into account will be inefficient.
    Keywords: Market efficiency,semi-strong efficiency, sports betting market, fixed odds,
    JEL: C80 D40 D43
    Date: 2015–09–02
  13. By: Alberto Marzucchi (Catholic University of Milan (Italy)); Sandro Montresor (Kore University of Enna (Italy))
    Abstract: This paper investigates the relevance of different forms of knowledge for the firm’s propensity to pursue eco-innovation (EI) strategies. The incidence of different types of internal and external knowledge is disentangled in search of specific EI-modes. We employ panel data on around 4,700 manufacturing firms from the Spanish PITEC dataset. Results show that a Science, Technology, EI-mode (STEI) prevails, though generally in an attenuated way, in the use of internal knowledge, with R&D knowledge more pivotal than some (embodied vs. disembodied) non-R&D one. On the other hand, a synthetic kind of external knowledge, typically drawn from business actors, is more important than the analytical one mainly coming from the “world of science”, suggesting a Doing, Using, Interacting EI-mode (DUIEI) in external terms. Overall, a hybrid EI-mode emerges across the internal and external realm of the firm, with interesting qualifications when specific EI strategies (e.g. cleaner production technologies vs. product eco-innovations) are considered.
    Keywords: Eco-innovation, knowledge, innovation modes, DUI, STI
    JEL: Q55 O31 O32
    Date: 2015–09
  14. By: de Boer, Henk-Wim (CPB Netherlands Bureau for Economic Policy Analysis); Jongen, Egbert L. W. (CPB Netherlands Bureau for Economic Policy Analysis); Kabátek, Jan (Tilburg University)
    Abstract: To promote the labor participation of parents with young children, governments employ a number of fiscal instruments. Prominent examples are childcare subsidies and in-work benefits. However, which policy works best for employment is largely unknown. We study the effectiveness of different fiscal stimuli in an empirical model of household labor supply and childcare use. We use a large and rich administrative data set for the Netherlands. Large-scale reforms in childcare subsidies and in-work benefits in the data period facilitate the identification of the structural parameters. We find that an in-work benefit for secondary earners that increases with income is the most effective way to stimulate total hours worked. Childcare subsidies are less effective, as substitution of other types of care for formal care drives up public expenditures. In-work benefits that target both primary and secondary earners are much less effective, because primary earners are rather unresponsive to financial incentives.
    Keywords: discrete choice, household labor supply, latent classes, differences-in-differences, work and care policies
    JEL: C25 C52 H31 J22
    Date: 2015–08
  15. By: Vögtle, Eva Maria; Windzio, Michael
    Abstract: In this paper, we investigate the impact of membership in the Bologna Process on patterns and driving forces of cross-national student mobility. Student exchange flows are analyzed for Bologna Process member states and non-Bologna OECD members over a ten-year period (from 2000 to 2010). We apply a social network approach focusing on outbound diploma-mobility. Based on social network analyses, we first visualize the exchange patterns between sampled countries. In doing so, we analyze the student exchange linkages to first gain descriptive insights into the development of the network. Second, we use exponential random graph models (ERGM) to test which factors determine transnational student mobility. The results of our network analyses reveal that cross-national student exchange networks are stable over time. At the core of these networks are the United States, Great Britain, France, and Germany; they attract the highest shares of students from the remaining countries in our sample. Moreover, the results of the ERGM demonstrate that homophily between countries determines student exchange patterns. The most relevant ties exist between bordering countries. Moreover, membership in the Bologna Process impacts mobility patterns, but surprisingly, it has a mitigating effect.
    Abstract: In diesem Beitrag untersuchen wir den Einfluss der Mitgliedschaft im Bolognaprozess auf Muster internationaler Mobilität von Studierenden. Über eine Periode von 10 Jahren (2000 bis 2010) wird der internationale Austausch von Studierenden sowohl für Länder analysiert, die sich dem Bolognaprozess verpflichtet haben, als auch für Länder, bei denen dies zum jeweiligen Zeitpunkt (noch) nicht der Fall war. Wir bilden die internationale Verflechtung von 41 Ländern als Netzwerke ab, die aufgrund von Strömen von Studierenden entstehen. Im ersten Schritt stellen wir die Verflechtungen grafisch dar und beschreiben die Veränderung des Netzwerkes über die Zeit. Sodann schätzen wir Exponentielle Zufallsgraphenmodelle (p*) und testen, welche Faktoren die Verflechtung bestimmen. In den empirischen Analysen zeigt sich, dass das untersuchte Netzwerk vergleichsweise stabil ist. Im Zentrum des Netzwerkes stehen die Länder USA, Frankreich, Großbritannien und Deutschland. Dies sind die häufigsten Ziele der studentischen Mobilität. Die Ergebnisse weisen zudem darauf hin, dass sich die Mobilität eher zwischen Ländern mit ähnlichem ökonomischen Leistungsniveau abspielt. Den stärksten Effekt weist die gemeinsame Grenze auf, d.h. die räumliche Nähe in Form von direkter Nachbarschaft ist letztlich entscheidend. Auch die Mitgliedschaft im Bologna-Raum hat einen Einfluss, der aber interessanterweise über die Zeit abzunehmen scheint.
    Date: 2015
  16. By: Raffaela Giordano; Sergi Lanau; Pietro Tommasino; Petia Topalova
    Abstract: This paper studies the effect of public sector efficiency on firm productivity using data from more than 400,000 firms across Italy’s provinces. Exploiting the large heterogeneity in the efficiency of the public sector across Italian provinces and the intrinsic variation in the dependence of industries on the government, we find that public sector inefficiency significantly reduces the labor productivity of private sector firms. The results suggest that raising public sector efficiency could yield large economic benefits: if the efficiency in all provinces reached the frontier, output per employee for the average firm would increase by 9 percent.
    Keywords: Italy;public sector efficiency, firm productivity, public, public sector, government, General
    Date: 2015–07–21
  17. By: Andrew E. Clark (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics, PSE - Paris-Jourdan Sciences Economiques - CNRS - Institut national de la recherche agronomique (INRA) - EHESS - École des hautes études en sciences sociales - ENS Paris - École normale supérieure - Paris - École des Ponts ParisTech (ENPC)); Carine Milcent (CEPREMAP - Centre pour la recherche économique et ses applications - Centre pour la recherche économique et ses applications, PSE - Paris-Jourdan Sciences Economiques - CNRS - Institut national de la recherche agronomique (INRA) - EHESS - École des hautes études en sciences sociales - ENS Paris - École normale supérieure - Paris - École des Ponts ParisTech (ENPC), EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics)
    Abstract: We here ask whether French local authorities respond to depressed local labour markets by increasing employment in State-owned hospitals. We use 2006-2010 panel data to examine within-hospital employment changes: higher local unemployment is associated with greater employment in State-owned hospitals, but not for any other hospital type. Our data cover a reimbursement reform introducing competition between hospitals. This reform reduced public-hospital employment, but had no overall effect on the relationship between public-hospital employment and local unemployment. Further analysis shows that this continuing relationship is only found in higher unemployment areas, where public-hospital employment remained counter-cyclical.
    Date: 2015–08
  18. By: Celikaksoy, Aycan (SOFI, Stockholm University); Wadensjö, Eskil (Stockholm University)
    Abstract: More unaccompanied refugee children arrive to and get a residence permit in Sweden than in any other country in Europe. The number of children who arrives is increasing fast. The Swedish experiences are therefore of great interest also for other countries. In this paper we study the labour market situation in terms of employment and income for those who have arrived as unaccompanied minors and have been registered in Sweden. We compare them with those who also arrived as minors from the same countries but who have arrived together with their parents. After controlling for demographic and migration related variables we find that young adults who arrived as unaccompanied refugee children are more likely to be employed than those children who arrived accompanied from the same countries. Another result is that labour market participation is much lower for females than for males. We also compare the labour market situation of these children with that for those who were born in Sweden and are of the same age.
    Keywords: unaccompanied minors, refugee children, migration, employment, income
    JEL: J13 J15 J21 J31
    Date: 2015–08
  19. By: Zuzana Siebertova (Council for Budget Responsibility); Norbert Svarda (Council for Budget Responsibility); Jana Valachyova (Council for Budget Responsibility)
    Abstract: In this paper we introduce a microsimulation model of the Slovak tax and transfer system SIMTASK. It presents a complex toolkit for static microsimulations. Compared to earlier version of the CBR microsimulation model, simulated results are closer to reality. This has been achieved by recalibrating sample weights of the input database, where the income distribution has been taken into account directly. The improved fit is documented by validating the tax and transfer aggregates using both the original sample weights and the new ones against external data. Along with some other refinements to the model and external data considerations, the paper concludes that the validity of SIMTASK improved in terms of personal income tax simulations, social security contributions simulations, as well as simulations of family related benefits.
    Keywords: microsimulation, EUROMOD, tax and benefit policy,Slovakia
    JEL: C81 I38 H24
    Date: 2015–08
  20. By: Paola De Agostini; John Hills; Holly Sutherland
    Abstract: This paper examines the distributional impacts of the changes to benefits, tax credits, pensions and direct taxes between the UK Elections in May 2010 and in May 2015. It also looks ahead to the longer-term effects of changes and plans that were announced by the 2010-2015 Coalition government, such as the complete introduction of Universal Credit and changes to the ways benefits, pensions and tax brackets are indexed from year to year, modelling what effects these would have after five more years. It shows that the changes 2010-15 did not have a common effect on all household incomes and nor did the direct tax-benefit changes contribute to deficit reduction. In effect reductions in benefits and tax credits financed part of the cuts in direct taxes. We find that the relative extent to which the changes most favoured the rich or the poor is sensitive to a wide range of analytical choices and assumptions, but under most sets of assumptions the main gains were in the upper middle of the income distribution and the main losers were at the bottom and those close to, but not at, the very top. Across most of the distribution the impact of the changes was regressive. Looking forward to the effects that Coalition policies would have had by 2020 we find a more strongly regressive picture but with open questions about the effect of Universal Credit on those not currently receiving their entitlements to means-tested payments, and so potentially increasing some of the lowest incomes.
    Keywords: Income distribution, direct taxes, social security, United Kingdom, Coalition government
    JEL: D31 H23 H53 I32
    Date: 2015–09
  21. By: Dürr, Niklas S.; Hüschelrath, Kai
    Abstract: We study competition in the German interurban bus industry two years after its liberalization in January 2013. In addition to a brief characterization of the liberalization process and several general market developments, we provide a detailed analysis of selected market characteristics such as concentration and competitive interaction, fares as well as service quality. We use the gained insights to discuss two recent policy issues - industry consolidation and possible abuses of market power by incumbents - and derive several recommendations to secure effective competition in the industry.
    Keywords: liberalization,interurban bus services,competition,merger,predation,Germany
    JEL: L11 L41 L43 L92 K21 K23
    Date: 2015
  22. By: Alvaredo, Facundo; Atkinson, Tony; Morelli, Salvatore
    Abstract: The concentration of personal wealth is now receiving a great deal of attention – after having been neglected for many years. One reason is the growing recognition that, in seeking explanations for rising income inequality, we need to look not only at wages and earned income but also at income from capital, particularly at the top of the distribution. In this paper, we use evidence from existing data sources to attempt to answer three questions: (i) what is the share of total personal wealth that is owned by the top 1 per cent, or the top 0.1 per cent? (ii) is wealth much more unequally distributed than income? (iii) is the concentration of wealth at the top increasing over time? The main conclusion of the paper is that the evidence about the UK concentration of wealth post-2000 is seriously incomplete and significant investment is necessary if we are to provide satisfactory answers to the three questions.
    Keywords: inequality; United Kingdom; wealth
    JEL: D3 H2
    Date: 2015–09
  23. By: Pfeifer, Christian (Leuphana University Lüneburg)
    Abstract: The author uses large-scale German survey data for the years 2009, 2011 and 2013 in order to analyze the nexus between the individual perception of being unfairly paid and measures for quantity and quality of sleep, namely, hours of sleep during workweek and during weekend, happiness with sleep, and sleep disorders diagnosed by a doctor. Main findings of the regression analysis are that workers, who perceive their own wage as unfair, sleep significantly less during the workweek (1.2 to 2.5 percent), are significantly less satisfied with their sleep (1 to 5 percent) and are significantly more likely to have sleep disorders (7 to 36 percent). Moreover, workers with more weekly working hours sleep significantly less during the workweek (0.1 to 0.2 percent per hour) and are significantly less satisfied with their sleep (0.1 to 0.2 percent per hour). The size of the hourly wage is however not significantly correlated with any of the sleep outcomes and the household income seems also of minor importance, even though the estimated coefficients have the expected signs implied by substitution and income effects. The overall results suggest that unfair wage perceptions, which are related to stress, negatively affect workers' sleep and, consequently, their health.
    Keywords: fairness, health, income, sleep quantity, sleep quality, wage, working hours
    JEL: I12 J22 J31
    Date: 2015–08

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