Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/263161 
Authors: 
Year of Publication: 
2022
Series/Report no.: 
SOEPpapers on Multidisciplinary Panel Data Research No. 1170
Publisher: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Abstract: 
Using the 2015 introduction of a statutory minimum wage in Germany as a quasi-experiment, I investigate the effects of wage increases on personality. The degree to which each worker's wage is intended to be affected by the reform is used as an instrument for the relative increase in the worker's hourly wage in a two-stage least squares estimation based on nationally representative panel data (N = 1,955 individuals). The results show no significant effects of relative wage increases on personality traits. As the confidence intervals indicate, any substantial effects of wage increases on personality are largely rejected by the results.
Subjects: 
income
minimum wage
money
personality
quasi-experiment
wage
JEL: 
A12
D31
D63
J31
J38
Document Type: 
Working Paper

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