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  • 1
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    Berlin: Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
    Publication Date: 2018-06-21
    Description: Wir gehen der Frage nach, ob die gegenwärtige Vermögensungleichheit in Deutschland auf eine Dominanz von Erbschaften im oberen Bereich der Verteilung zurückzuführen ist. Auf Basis der PHF-Daten finden wir, dass die Vermögen der Deutschen zu etwa zwei Dritteln auf Eigenleistung und zu etwa einem Drittel auf Erbschaft zurückgehen. Diese Proportion verändert sich entlang der Vermögensverteilung wenig. Insbesondere nimmt die relative Bedeutung von Erbschaften mit zunehmendem Privatvermögen nicht systematisch zu. Diese Ergebnisse sind robust hinsichtlich unterschiedlicher Altersgruppen, Vermögensdefinitionen und Kapitalisierungsmethoden für die unteren 99 %.
    Description: This paper investigates the role of inheritance in the distribution of wealth in Germany. Recently collected survey data allow us to compute inheritance - wealth ratios for various quantiles based on several assumptions concerning the capitalization of past bequests and gifts. Our results indicate that wealth inequality below the top - 1% is hardly affected by inheritances: the share of inheritances in wealth is about one third on average and it does not change much across quantiles of the wealth distribution. A number of robustness checks confirm the validity of this finding.
    Keywords: ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
    Type: doc-type:workingPaper
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  • 2
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    Berlin: Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
    Publication Date: 2018-06-21
    Description: In many countries organized as federations, fiscal-equalization schemes have been implemented to mitigate vertical or horizontal imbalances. Such schemes usually imply that the member states of the federation can only partly internalize marginal tax revenue before redistribution. Aside from this internalized revenue, referred to as the marginal tax-back rate, the remainder is redistributed. We investigate the extent to which extent state-level authorities in such federation under-exploit their tax bases. By means of a stylized model we show that the member states have an incentive to align the effective tax rates on their residents with the level of the tax-back rate. We empirically test the model using state-level and micro-level taxpayer data, OLS regressions and natural experiments. Our empirical findings support the results from our theoretical model. Particularly, we find that states with a higher marginal tax-back rate exploit the tax base to a higher extent.
    Keywords: C21 ; H21 ; H77 ; ddc:330 ; fiscal federalism ; fiscal externalities ; natural experiment ; treatment analysis ; statistical matching
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 3
    Publication Date: 2018-06-21
    Description: We estimate the elasticity of charitable giving with respect to price and income changes using a rich panel of income tax returns covering the period 2001 to 2006. Employing censored quantile regression and exploiting the panel structure, the advantage of our analysis is twofold: First, we derive results for different points in the underlying distribution of charitable giving and allow for giving to be heterogeneous. Thus, we do not only estimate responses of giving to prices and incomes but also where the incentives matter most. Second, we disentangle long-run responses to persistent changes in price and income from temporary reactions, consumption smoothing, or tax planning. Indeed, our results suggest that price elasticity is heterogenous across the distribution of donors and that the persistent price elasticity is close to one in absolute value at the upper and lower tail of the distribution of charitable giving.
    Keywords: C31 ; H31 ; H53 ; ddc:330 ; charitable giving ; price and income elasticity ; censored quantile regression ; taxpayer panel ; administrative data ; school performance
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 4
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    Berlin: Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
    Publication Date: 2018-06-21
    Description: We use data from the European Household Finance and Consumption Survey in order to examine the distributional effect of intergenerational wealth transfers on the net worth distribution in 8 European countries and compare it to recent findings for the US. To do so, we resort to the decomposition of the coefficient of variation as suggested and applied by Wolff (1987, 2002, 2015) and Wolff and Gittleman (2014). The results hint that inheritances and gifts have a vastly equalizing effect on inequality in household wealth in all 8 countries.
    Keywords: D31 ; E21 ; ddc:330 ; Inheritance ; Household wealth ; Inequality
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Berlin: Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
    Publication Date: 2018-06-21
    Description: We investigate the hypothesis of failed integration and low social mobility of immigrants. For this purpose, an intergenerational assimilation model is tested empirically on household survey data and validated against administrative data provided by the Italian Embassy in Germany. In line with previous studies, we confirm substantial inequality of educational achievements between immigrants and natives. However, we find that the children of Italian immigrants exhibit fairly high intergenerational mobility. Furthermore, holding parental education constant, Italian second generation immigrants show no less opportunities than natives to achieve high schooling degrees. These findings suggest a rejection of the failed integration hypothesis.
    Keywords: I24 ; J61 ; J62 ; ddc:330 ; intergenerational mobility ; education ; integration and assimilation of immigrants
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
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    Berlin: Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
    Publication Date: 2018-06-21
    Description: In view of rising concerns over increasing inequality in the European Union since the financial crisis, this study provides an inequality decomposition of the overall European income distribution by country. The EU Statistics on Income and Living Conditions are our empirical basis. Inequality has risen moderately within the core Euro area, particularly in the last two years of the observation period (2010/11). Widening disparities between EU Member States are the driving force behind this trend, while inequalities within countries do not exhibit systematic changes. An analysis of binational distributions reveals that it is the countries hit worst by the crisis - Greece and Spain - for which the between-country disparities have changed most markedly.
    Keywords: D30 ; D31 ; D39 ; ddc:330 ; inequality ; decomposition ; crisis
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 7
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    Berlin: Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
    Publication Date: 2018-06-21
    Description: In aging societies, information on how to reform pension systems is essential to policy makers. This study scrutinizes effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ administrative pension data and a detailed model of the German tax and social security system to estimate a structural dynamic retirement model. We find that labor market participation and retirement behavior in general are strongly influenced by the level of disincentives. Further, disincentives come at the cost of increasing inequality and individual welfare losses. Still, net public returns are more than five times as high as monetarized individual welfare losses. Our estimates also suggest that similar levels of net public returns achieved by indiscriminating pension cuts are associated with individual welfare losses that are at least twice as high.
    Keywords: C61 ; H55 ; J26 ; ddc:330 ; dynamic discrete choice ; retirement ; tax and pension system ; pension reform
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
    Publication Date: 2018-11-08
    Description: Die Alterung der deutschen Gesellschaft setzt das Rentensystem unter erheblichen Reformdruck. Simulationen für westdeutsche langjährig versicherte Männer zeigen, dass Anreize für einen späteren Renteneintritt das Rentensystem stabilisieren können. Die Einkommensverluste sind dabei geringer als es bei einer pauschalen Senkung des Rentenniveaus der Fall wäre, die in einer alternden Gesellschaft aufgrund der Rentenanpassungsformel automatisch droht. Zudem sind auch die Wohlfahrtsverluste deutlich geringer, die neben Einkommensverlusten auch die entgangene Freizeit bei späterem Renteneintritt berücksichtigen. Dies wirft auch Fragen bezüglich der abschlagsfreien Rente mit 63 auf, falls deren Gegenfinanzierung über die Rentenanpassungsformel erfolgt. Dabei wären gerade jene Personen stark betroffen, die bei Abschlägen auf die Frührente einer Rentenkürzung noch durch eine Verschiebung ihres Renteneintritts ausweichen konnten. Allerdings ist auch bei Abschlägen darauf zu achten, dass nicht alle gleichermaßen auf solche Anreize reagieren können (zum Beispiel wegen Erwerbsminderung oder der Arbeitsmarktlage). Aus wohlfahrtstheoretischer Sicht ist daher insbesondere etwa über reduzierte Abschläge für gesundheitlich beeinträchtigte Personen nachzudenken.
    Keywords: C61 ; H55 ; J26 ; ddc:330 ; retirement ; pension system ; pension reform
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
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  • 9
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    ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
    Publication Date: 2013-05-22
    Description: This paper documents the magnitude, pattern, and evolution of lifetime earnings inequality in Germany. Based on a large sample of earning biographies from social security records, we show that the intra-generational distribution of lifetime earnings of male workers has a Gini coefficient around .2 for cohorts born in the late 1930s and early 1940s; this amounts to about 2/3 of the value of the Gini coefficient of annual earnings. Within cohorts, mobility in the distribution of yearly earnings is substantial at the beginning of the lifecycle, decreases afterwards and virtually vanishes after age forty. Earnings data for thirty-one cohorts reveals striking evidence of a secular rise of intra-generational inequality in lifetime earnings: West-German men born in the early 1960s are likely to experience about 80 % more lifetime inequality than their fathers. In contrast, both short-term and long-term intra-generational mobility have been rather stable. Longer unemployment spells of workers at the bottom of the distribution of younger cohorts contribute to explain 30 to 40 % of the overall increase in lifetime earnings inequality.
    Keywords: D31 ; D33 ; H24 ; ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 10
    Publication Date: 2018-10-02
    Description: We provide levels of, compositions of, and inequalities in household augmented wealth – defined as the sum of net worth and pension wealth – for two countries: the United States and Germany. Pension wealth makes up a considerable portion of household wealth: about 48% in the United States and 61%in Germany. The higher share in Germany narrows the wealth gap between the two countries: While average net worth in the United States (US$337,000 in 2013) is about 1.8 times higher than in Germany, augmented wealth (US$651,000) is only 1.4 times higher. Further, the inclusion of pension wealth in household wealth reduces the Gini coefficient from 0.892 to 0.701 in the United States and from 0.765 to 0.511 in Germany.
    Keywords: D31 ; H55 ; J32 ; ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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