Search

This paper provides new evidence on the magnitude and determinants of regional differences in the gender pay gap. On the basis of a comprehensive data set of all full‐time employees in Germany, we explain the profound variation of the gender pay gap at a small‐scale level with theory‐based individual and job‐related characteristics. Using the Oaxaca–Blinder decomposition, we find pronounced spatial differences in the impact of the considered determinants. Whereas gender differences in job‐related characteristics are important drivers in regions with a high gender pay gap, individual characteristics come into effect in regions with a low and negative gap. The results underscore the role played by the establishment composition in a region and the kind of jobs provided for gendered earnings.

Administrative social security records and event history analysis are used to investigate the significance of previous work experience for the migration decision of German university graduates. The regression results suggest that work experience gained previously and while studying in the university region reduces the likelihood of graduates out-migrating, while extra-regional work activity enhances the probability of labour market entry outside the region of study. The size of the effect depends on the type of work experience. The findings point to the importance of knowledge about local labour markets and social networks for graduates’ migration decision at the start of their career.

This paper estimates size and impact factors of the gender pay gap in Europe. It adds to the literature in three aspects. First, we update existing figures on the gender pay gaps in the EU based on the Structure of Earnings Survey 2010 (SES). Second, we enrich the literature by undertaking comprehensive country comparisons of the gap components based on an Oaxaca-Blinder decomposition. Overall, we analyse 21 EU countries plus Norway, which clearly exceeds the scope of existing microdata studies. Third, we examine the sources of the unexplained gap. We find that about one third of the gap can be traced back to the role of the explanatory factors included in our analysis. Human capital related factors are of minor importance. Instead, the sectoral segregation of genders is identified as the most important barrier to gender pay equality in European countries. In addition, the fact that part-time positions are more frequent among women notably contributes to the gap. Furthermore, sector premiums are generally to men’s advantage, this might point to a less advanta-geous within-sector positional sorting for women compared to men. We conclude that policies aiming at closing the gender pay gap should focus more on the sector level than on the aggregate economy.

In this paper we model the dynamics of 100 years long monthly price series of eight non-ferrous and precious metals. Applying the state space framework we impose and identify two common factors related to non-ferrous and precious metals, respectively, which exhibit quite distinct autoregressive dynamics. The preferred two common factor specifications outperform single common factor approaches which are usually used in the current literature. Furthermore, we provide interpretation for the extracted common factors by investigating their exposure to the major macroeconomic fundamentals.

Human capital is a driving factor of innovation and economic growth. Economic prospects of cities depend on high qualified workers' knowledge and therefore, attracting highly qualified workers plays a fundamental role for cities' prospects. This study contributes to the question which factors primarily determine the mobility-decision of highly qualified workers by investigating the determinants of the migration balance of German cities between 2000 and 2010. Furthermore, it compares the effects of several labour- and amenity-related variables on migration rates of highly qualified workers and the remaining workforce. Findings suggest that local labour market conditions influence the mobility decision but amenities matter too for the high-skilled. The preferences of the highly qualified workers partly differ from those of the rest of the workforce. However, there are also several factors that do not show systematic differences across skill groups.

Although many macroeconomic time series are assumed to follow nonlinear processes, nonlinear models often do not provide better predictions than their linear counterparts. Furthermore, nonlinear models easily become very complex and difficult to estimate. The aim of this study is to investigate whether simple nonlinear extensions of autoregressive processes are able to provide more accurate forecasting results than linear models. Therefore, simple autoregressive processes are extended by means of nonlinear transformations (quadratic, cubic, sine, exponential functions) of lagged time series observations and autoregression residuals. The proposed forecasting models are applied to a large set of macroeconomic and financial time series for 10 European countries. Findings suggest that these models, including nonlinear transformation of lagged autoregression residuals, are able to provide better forecasting results than simple linear models. Thus, it may be possible to improve the forecasting accuracy of linear models by including nonlinear components. This is especially true for time series that are positively tested for nonlinear characteristics and longer forecast horizons.

Anknupfend an Peisert (1967) sowie Bargel und Kuthe (1992) betrachtet der Beitrag die Kreise Deutschlands von 1995 bis 2015 betrachtet und Bildungsdichte definiert anhand von amtlichen Daten als den Anteil der Gymnasiastinnen und Gymnasiasten in elften Klassen an allen 15- bis 17-Jahrigen. Deutlich wird, dass die so definierte Bildungsdichte in den letzten 20 Jahren in allen Kreisen weiter zugenommen hat. Gleichzeitig finden sich uberwiegend in einigen landlichen Raumen Kreise, in denen die Bildungsdichte 1995 wie 2015 niedrig ist.

Striking disparities characterise the population growth of cities in industrialised countries. Some cities suffer from ongoing population decline, whereas other cities have experienced increasing numbers of inhabitants in recent years. Whether labour market conditions or amenities via their impact on migration primarily account for differences in cities’ demographic development is an important issue. This paper investigates the determinants of the migration balance of German cities between 2000 and 2007. The focus is on the mobility of workers because labour migration in particular affects the future prospects of cities. The findings suggest that not only labour market conditions but also amenities have an impact on the net migration rate. Moreover, large cities seem to be, ceteris paribus, more attractive than small cities. This finding possibly points to the importance of amenities such as cultural infrastructure and matching externalities in urban (labour) markets that are linked to city size. Urban policy aimed at enhancing the attractiveness of cities should thus consider both boosting the local economy and improving the quality of life.

Seit mehr als einem Jahr ist der Preisanstieg im Euroraum im Trend rückläufig. Angesichts der geringen Inflationsrate wird über ein mögliches Abrutschen in eine Deflation diskutiert. Wie groß ist diese Gefahr und wie sollte die EZB reagieren? Das wahrscheinlichere Szenario der nächsten Monate besteht nach Ansicht von Alfons J. Weichenrieder, Goethe-Universität Frankfurt, eher in einer sogenannten »Lowflation« – zu wenig Inflation – statt einer Deflation. Doch auch schon die Lowflation berge Probleme. Der starke strukturelle Anpassungsbedarf in den meisten Euroländern könnte nur von einer höheren Inflationsrate profitieren. In der Vergangenheit seien die Inflationsunterschiede zu gering gewesen, um die Unterschiede in der Wettbewerbsfähigkeit auszugleichen. Adalbert Winkler, Frankfurt School of Finance & Management, sieht in den Inflationsdifferentiale des Euroraums ein Anpassungsinstrument. Die Deflation in Südeuropa sei nur dann »ein Fluch«, wenn der Euroraum entweder nicht jenes Maß an Integration aufweise, das für einen erfolgreichen Anpassungsprozess erforderlich sei, oder die Deflation in Südeuropa nicht von einem entsprechenden Inflationsanstieg in Kerneuropa begleitet werde. Anja Rossen, Hamburgisches WeltWirtschaftsInstitut, hält die Deflationssorge für unbegründet. Zwar seien die Inflationsraten zurzeit im Euroraum gering, aber eine sich weiter erholende europäische Konjunktur spreche eher für mittelfristig zunehmende Inflationsraten. Sollte es dennoch zu einer Deflation kommen, so habe die EZB eine Reihe von Instrumenten, um diese zu bekämpfen. Nach Meinung von Olaf Schlotmann, Brunswick European Law School/Ostfalia, können selbst fallende Erzeugerpreise in Südeuropa das dort so dringend benötigte Wirtschaftswachstum auch mittelfristig nicht beschleunigen. Vielmehr werden die aktuell sehr niedrigen Inflationsraten die Tragfähigkeit der (Staats-)Schulden in Südeuropa weiter aushöhlen.