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on Microeconomic European Issues |
| By: | Javier Olivera (National Bank of Belgium; and Luxembourg Institute of Socio-Economic Research); Jan De Mulder (National Bank of Belgium) |
| Abstract: | The present study analyses the impact of ageing on wealth inequality in fifteen European countries by exploiting the Household Finance and Consumption Survey (HFCS) for the years 2010 and 2021. For this aim, we use recentered influence regressions to estimate influence of ageing and other key covariates on the Gini index of net wealth and wealth components. When analysing the overall wealth of the countries, no clear impact of ageing on net wealth inequality is found. However, ageing appears to contribute to rising inequality when its main componentsâ۠real assets, financial assets, and debtâ۠are examined. The evidence suggests that the magnitude of the effect has increased over time. When considering individual countries separately, ageing appears to have an increasing impact on net wealth inequality, as well as on the inequality of its main components in countries experiencing more advanced population ageing, such as Portugal, Spain, and Italy. |
| Keywords: | Ageing, Wealth, Inequality, Europe, RIF regressions |
| JEL: | D31 E24 J11 J14 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:inq:inqwps:ecineq2025-585 |
| By: | Laura Conti (Bank of Italy); Marco Francesconi (University of Essex); Giulio Papini (Bank of Italy); Michel Serafinelli (King’s College London) |
| Abstract: | This paper documents how the local labor market (LLM) responds to a change in touristic attractiveness. Leveraging largely underutilized data from several sources, we exploit a unique classification of Italian localities based on their main touristic assets and aggregate trends in foreign tourists' choices in a shift-share research design. Looking at all LLMs, we find a positive relationship between changes in attractiveness and changes in the local tourism-related economic activity, with a positive impact on tourism expenditure and tourism employment, but no effect on total employment. In high-unemployment LLMs, however, we find evidence of sizable total employment effects and indirect effects generated through industries related to tourism and firms in the nontradable sector and the manufacturing sector. |
| Keywords: | local economic activity; tourism; job growth; unemployment; heterogeneity; natural resource curse. |
| JEL: | R11 J21 R12 R23 Z30 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:crm:wpaper:2532 |
| By: | Albanesi, Stefania; Da Silva, António Dias; Jimeno, Juan F.; Lamo, Ana; Wabitsch, Alena |
| Abstract: | We examine the link between the diffusion of artificial intelligence (AI) enabled technologies and changes in the female employment share in 16 European countries over the period 2011-2019. Using data for occupations at the 3-digit level, we find that on average female employment shares increased in occupations more exposed to AI. Countries with high initial female labor force participation and higher initial female relative education show a stronger positive association. While there exists heterogeneity across countries, almost all show a positive relation between changes in female employment shares within occupations and exposure to AI-enabled automation. JEL Classification: J23, O33 |
| Keywords: | artificial intelligence, employment, gender, occupations, skills |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20253077 |
| By: | Bisaschi Luca; Calderoni Paolo; Garces Inazio; Lechardoy Lucie; Nardoni Sara |
| Abstract: | This study report investigates how the technological transformation occurring in four Italian hospitals and two French hospitals affects their organisational processes and structure. The results show that the Italian establishments developed a higher degree of digitalisation rather than pure automation processes, hence entailing reorganisation of work processes more than human substitution. Indeed, the use of the technological tools and software described in the present study implied relevant changes in the work organisation, both in terms of methods and digital instruments used. However, no fear of substitution by the machine or perception of threat to the jobs of the medical staff and other workforce have been reported in any of the hospitals. Rather, it has emerged in more than one occasion how such technologies are more complementary and supportive to the medical staff’s decisions. In France, the findings reveal that the use of the algorithmic tools has reduced patient waiting times at the emergency room, increased work coordination, communication between medical services, and decreased stress for hospital staff. The paper concludes that the adoption of algorithmic management tools has increased the quality of life at work and highlights the potential for these tools to transform the health sector. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:laedte:202505 |
| By: | Maria Ponkilainen (Max Planck Institute for Demographic Research, Rostock, Germany); Elina Einiö (Max Planck Institute for Demographic Research, Rostock, Germany); Martin Kolk (Max Planck Institute for Demographic Research, Rostock, Germany); Peter Fallesen; Fartein Ask Torvik; Maria Lyster Andersen; Mikko Myrskylä (Max Planck Institute for Demographic Research, Rostock, Germany) |
| Abstract: | The Nordic countries of Denmark, Sweden, Norway, and Finland were among the first countries to acknowledge same-sex couples' partnership and parenthood rights in their legislations. In this comparative paper, we explore trends over time in the share of female same-sex and different-sex couples that have children following their legal union and variation by socioeconomic status. Using harmonized register data, we assess couples' likelihood of having a child over time, with a focus on education and income. We find strong increases in female couples' likelihood of having a child, resulting in sharply increasing prevalence, approaching near parity with different-sex couples in Denmark, Sweden, and Norway around 2010. Finland diverges from the other countries in terms of its later and less steep increase. Higher education is associated with a higher likelihood of having a child, whereas we find a less clear gradient by income level. We suggest that legal changes have made same-sex parenthood more achievable in the Nordic countries, that these legal changes are concurrent with an increase in parenthood, and that female couples today are nearly as likely to have children following a legal union as different-sex couples. |
| Keywords: | Denmark, Finland, Norway, Sweden, childbearing, homosexuality, legislation, parenthood |
| JEL: | J1 Z0 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:dem:wpaper:wp-2025-023 |
| By: | Helena Manger |
| Abstract: | Despite extensive literature on incentives to increase employees’ work performance, economic research on employer-provided non-monetary benefits remains rare. This study investigates the relationship between benefits and employees’ work effort utilizing data from the German Socio-Economic Panel. The analysis is based on data from eleven survey waves from 2006 to 2022 and considers five benefit types: meal stipends, firm cars, phones and computers for personal use, as well as expense payments exceeding minimum costs. The results reveal a modest positive association between benefit receipt and employees’ work effort, measured as the difference between actual and contractual working hours per week. On average, benefit receipt is associated with 13 minutes additional work per week. Furthermore, receiving a greater variety of benefit types is linked to even higher work effort, with two to five or more benefit types associated with an average increase of 27 to 97 minutes of extra work per week. However, the effectiveness of benefits does not seem to be universal but varies depending on the type of benefit as well as individual and organizational characteristics. Notably, the positive association of benefits with work effort appears significantly higher for males than for females, and sectoral differences are evident. These findings underscore the importance of further research to better understand the specific conditions under which benefits can effectively enhance employee work effort. |
| Keywords: | Non-monetary incentives, benefits, work effort, motivation, productivity, SOEP, overtime |
| JEL: | C83 J32 M52 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp1228 |
| By: | Jorge Casanova; David Catalán; Florentino Felgueroso; Marcel Jansen |
| Abstract: | This paper estimates the effects of a sharp rise in the Spanish minimum wage on firm-level employment and worker flows. Our analysis uses a novel dataset of linked employer-employee data and exploits the variation in the share of workers of each establishment who were directly affected by the increase in the minimum wage using a difference-in-differences design. We find that the 22% minimum wage hike caused an increase in wage growth of approximately 11 percentage points and a reduction in employment growth of around 5 percentage points at establishments where all workers were affected relative to firms where no workers were affected, resulting in an own-wage elasticity of -0.39. The negative effects on employment are concentrated in small establishments with up to five employees, but we show that the minimum wage had much broader implications as it caused a simultaneous increase in inflows and worker outflows for affected establishments with up to 250 employees. The resulting increase in gross flows almost doubles the net effects on employment leading to a deterioration of job quality. We link these novel findings to the dual structure of the Spanish labor market. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:fda:fdaeee:eee2025-10 |
| By: | António Afonso; José Alves; Najat Bazah; A. J. SánchezFuentes |
| Abstract: | We evaluate the efficiency of public expenditure in the 27 European countries in achieving the Sustainable Development Goals (SDGs) of the 2030 Agenda. Using Data Envelopment Analysis (DEA), we map performance over the period 1995-2023, incorporating Musgravian functional spending – redistribution, allocation, public services, and private activities – as input variables, and constructing synthetic indices for the five pillars of the 2030 Agenda people, planet, prosperity, peace, and partnership – as outputs. Results indicate that input efficiency scores range from 0.77 to 0.95, while output scores range from 0.88 to 0.93, suggesting a potential 5%-23.5% increase in inputs or a 7%-11.7% improvement in outputs. Denmark, Ireland, and Finland are efficient throughout the entire period, with strategic reductions in public spending correlating with high SDG performance. Sweden also has high efficiency and leads in multiple pillars by 2023. Conversely, the peace pillar remains the least achieved, while the people pillar shows the greatest progress. |
| Keywords: | public spending; Sustainable Development Goals (SDGs); Data Envelopment Analysis (DEA); government spending efficiency. |
| JEL: | C61 H11 H72 O57 Q56 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:ise:remwps:wp03882025 |
| By: | Costa-Font, Joan; Salmasi, Luca; Zaccagni, Sarah |
| Abstract: | We study the potential behavioural spillover effects of a workplace smoking ban (WSB) on a variety of health-related behaviours as well as on people who are not directly impacted by the bans. Drawing on quasi-experimental evidence comparing employed and unemployed individuals in Russia, we document that individuals who give up smoking are less likely to drink or cut back on alcohol consumption. Furthermore, we show that as expected the WSB exerts an impact on the health behaviours of those who aren’t directly exposed to the reform, such as never smokers. Finally, the effects of the WSB are driven by changes among men, 60 percent of whom were smoking before the ban. |
| Keywords: | joint formation of behaviours; workplace smoking bans; behavioural spillovers; smoking; drinking; physical activity; health identity; Russia |
| JEL: | I18 H75 L51 |
| Date: | 2025–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128606 |
| By: | Philipp Heil; Emilie Höslinger; Niklas Potrafke; Tuuli Tähtinnen; Emilie Antonia Höslinger; Tuuli Tähtinen |
| Abstract: | Key Messages• On average, experts from the EU expect tariffs on US imports to be around 5 percentage points higher than they would recommend.• Tariff expectations are higher and more varied across European countries for US goods than for all imports.• Expert recommendations for tariffs diverge widely across European countries.• US experts recommend low tariffs on EU imports, despite expecting higher rates.• Gaps between expected and recommended tariffs highlight policy challenges. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:econpb:_76 |
| By: | Philumena BAUER (Institut für Management Accounting, Johannes Kepler Universität Linz, Austria); Dorothea GREILING (Institut für Management Accounting, Johannes Kepler Universität Linz, Austria) |
| Abstract: | The 2022 Corporate Sustainability Reporting Directive significantly expands the number of companies required to disclose non-financial information, now including many large municipal utilities (MUs) for the first time. The study focuses on 14 Austrian and German MUs and examines the current state, challenges, and opportunities of a double materiality analysis in line with the European Sustainability Reporting Standards (ESRS). Methodologically, the study is based on a qualitative content analysis of 28 sustainability reports. In addition, five expert interviews were conducted with representatives of large Austrian MUs in February 2025. The findings show that only a few pioneering MUs have embedded their highly material topics in their corporate strategy. In other MUs, structured double materiality analyses have been carried out and can be allotted to the Environmental, Social and Governance (ESG) dimensions required by the CSRD. The identification of narrative and quantitative data points and the embeddedness in the strategy process is not yet completed. The 14 highly prioritized topics of MUs can be divided into three dimensions. The environmental dimension (E) focuses on five key aspects: (1) energy efficiency; (2) (greenhouse gas) emissions; (3) climate protection measures; (4) energy, heating and mobility transition and (5) reliable and high-quality waste disposal. The social dimension (S) also comprises five key topics: (1) health protection; (2) attractiveness as an employer; (3) security of service provision/security of supply; (4) sustainable cities and (5) product responsibility. In the governance dimension (G), four key aspects are very important: (1) compliance and anti-corruption; (2) security and data protection; (3) industry, innovation and sustainable infrastructure; and (4) efficient operations. There is a clear trend that "ESRS E1: Climate Change", "ESRS S1: Own Workforce" and "ESRS G1: Business Conduct" are of utmost importance for all studied MUs. The range of qualitative and quantitative data points is broad in the analysed MUs. This ranges from estimates of around 200 data points based on the European Financial Reporting Advisory Group (EFRAG) guidelines to MUs that have already defined up to 650 qualitative and quantitative data points for their ESG reporting. Key challenges include the complexity of Scope 3 emissions accounting, a meaningful stakeholder engagement, and high consultancy costs. Despite regulatory uncertainty and differing levels of ESG maturity, the double materiality process offers strategic potential like corporate resilience or stakeholder trust improvement. Pioneering MUs can serve as benchmarks, while others should leverage best practices. However, policymakers need to address quite soon the uncertainties of an ESG reporting landscape that has been further fragmented by the EU Omnibus I proposal in February 2026 and should provide regulatory clarity. |
| Keywords: | Municipal Utilities, Austria, Germany, double materiality analysis, ESG-Reporting |
| JEL: | Q56 H83 M41 |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:crc:wpaper:2502 |
| By: | Karamik, Yasemin; Reif, Simon |
| Abstract: | Maternity unit closures are increasingly common in areas with low birth rates, resulting in diminished competition between units. We examine how competition affects the quality and amenities of the remaining maternity units in Germany. To address potential endogeneity in the level of competition, we exploit the unpopularity of maternity unit closures and instrument competition with the tightness of past regional elections. Our findings indicate that while low competition does not significantly affect the quality of care, it leads to reduced availability of additional services potentially used to attract patients in the higher competitive market. |
| Keywords: | Maternity unis, hospital competition, healthcare quality, non-price amenities |
| JEL: | I11 I18 L13 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:319895 |
| By: | Andrea Mario Lavezzi; Marco Quatrosi |
| Abstract: | In this article, we study the effects of organized crime infiltration in city councils on environmental policies implemented in Italy at the municipal level. To this purpose, we exploit the exogenous shock of the removal of a city council infiltrated by the mafia and its substitution with an external Commission, allowed in Italy by the law 164/1991. Our results suggest that after dissolution, environmental policies improve in several dimensions: the capital expenditure for sustainable development and the environment increases; the current expenditure on integrated water system increases; the percentage of sorted waste increases because, as we show, public expenditure is reallocated toward sorted waste at the expenses of unsorted waste. These results are robust to different specifications of the control group. In addition, we find significant spillover effects: the dissolution of infiltrated city councils implies an improvement in environmental policies in adjacent municipalities. Our results have a straightforward policy implication, the need to combat organized crime as a way to improve the environmental conditions of the territories plagued by its pervasive presence. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2507.18410 |
| By: | van der Meer, Peter; Wielers, Rudi (University of Groningen) |
| Abstract: | We test the arguments that the extent to which work is meaningful depends strongly on the job, and that it has its own effect on the labour market. We argue that the meaningfulness of the job mainly depends on opportunities for self-realization and on the social value of the work. We test the hypotheses on EWCS 2015 and ISSP 2015. Respondents show a high level of agreement about themeaningfulness of their job. The analysis shows that the meaningfulness is strongly determined by job characteristics related to self-realization. We find that workers in non-commercial organizations find their jobs more meaningful than workers in commercial organizations. There is a trade-off between thewage and the meaningfulness of the work, when we hold constant for self-realization. We conclude that the extent to which work is meaningful strongly depends on the opportunities for self-realization, and is cause for trade-offs between wages and meaningfulness. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:gro:rugfeb:2024005-ob |
| By: | De Ridder, Adri; Eriksen, Steffen; Parkhomenko, Maryana; Scholtens, Bert (University of Groningen) |
| Abstract: | This paper studies the investment properties of paintings. It applies a hedonic regression model on a unique sample of more than 8, 000 paintings by classical Swedish painters traded in the period 2010-2023. To address sample selection bias regarding sold and unsold paintings, it uses a Heckman correction. Despite some very high prices for paintings, the price index for the sample paintings underperforms well-used indexes for stocks, bonds, and real estate, while its volatility is much higher. The study shows that paintings of classical Swedish painters have a very limited role when constructing optimal investment portfolios. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:gro:rugfeb:2025003-eef |