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  <item rdf:about="http://hdl.handle.net/10419/55038">
    <title>Size and causes of the underground economy in Spain: A correction of the record and new evidence from the MCDR approach</title>
    <link>http://hdl.handle.net/10419/55038</link>
    <description>Title: Size and causes of the underground economy in Spain: A correction of the record and new evidence from the MCDR approach
&lt;br/&gt;
&lt;br/&gt;Authors: Pickhardt, Michael; Sardà, Jordi
&lt;br/&gt;
&lt;br/&gt;Abstract: We review existing estimates of the size of the Spanish underground economy, apply the Ahumada et al. (2007, RIW) correction procedure to some of them and calculate the size of the underground economy in Spain for the period 1960 through 2009 by using the modified-cash-deposits-ratio (MCDR) approach recently developed by Pickhardt and Sardà (2011, EJLE). We then extend the MCDR approach with respect to an analysis of the causes of the Spanish underground economy. Contrary to most other studies, we show that the latter is not predominantly caused by tax pressure, but by labor market aspects, macroeconomic influences and criminal activities. Based on these findings we derive some unprecedented policy recommendations.</description>
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  <item rdf:about="http://hdl.handle.net/10419/55037">
    <title>Are the self-employed really jacks-of-all-trades? Testing the assumptions and implications of Lazear's theory of entrepreneurship with German data</title>
    <link>http://hdl.handle.net/10419/55037</link>
    <description>Title: Are the self-employed really jacks-of-all-trades? Testing the assumptions and implications of Lazear's theory of entrepreneurship with German data
&lt;br/&gt;
&lt;br/&gt;Authors: Lechmann, Daniel S. J.; Schnabel, Claus
&lt;br/&gt;
&lt;br/&gt;Abstract: Using a large representative German data set and various concepts of self-employment, this paper tests the 'jack-of-all-trades' view of entrepreneurship by Lazear (AER 2004). Consistent with its theoretical assumptions we find that self-employed individuals perform more tasks and that their work requires more skills than that of paid employees. In contrast to Lazear's assumptions, however, self-employed individuals do not just need more basic but also more expert skills than employees. Our results also provide only very limited support for the idea that human capital investment patterns differ between those who become self-employed and those ending up in paid employment.</description>
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    <title>Transparency in the banking sector</title>
    <link>http://hdl.handle.net/10419/55036</link>
    <description>Title: Transparency in the banking sector
&lt;br/&gt;
&lt;br/&gt;Authors: Broll, Udo; Eckwert, Bernhard; Eickhoff, Andreas
&lt;br/&gt;
&lt;br/&gt;Abstract: The paper revisits the impact of uncertainty on the decision problem of a bank. The bank extends risky loans to private investors and sells deposits to savers at fixed rates. The uncertainty under which deposit/loan-portfolios are chosen by banks is endogenized through an information system that conveys public signals about the return distribution of bank loans. Transparency in the banking sector is defined in terms of the reliability of these signals. We find that higher transparency always raises expected bank profits, but may lead to a higher or lower expected loan volume. Moreover, higher transparency may reduce economic welfare.</description>
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  <item rdf:about="http://hdl.handle.net/10419/55035">
    <title>Intergenerational transmission of risk attitudes: A revealed preference approach</title>
    <link>http://hdl.handle.net/10419/55035</link>
    <description>Title: Intergenerational transmission of risk attitudes: A revealed preference approach
&lt;br/&gt;
&lt;br/&gt;Authors: Leuermann, Andrea; Necker, Sarah
&lt;br/&gt;
&lt;br/&gt;Abstract: This study investigates whether the willingness to take income risks revealed by occupational choice is transmitted from parents to their children. Using data from the German Socio-Economic Panel (SOEP), we find that fathers' riskiness of job is a significant determinant of children's occupational risk, in particular sons' (excluding parent-child pairs with identical occupations). This is the first piece of evidence for intergenerational transmission of risk attitudes relying on real world behavior. It shows that not only individuals' own assessments of their risk attitudes correlate across generations (found by previous studies) but also risk preferences shown in exactly the same situation.</description>
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