Dynamic discrete choice models usually require a general specification of unobserved heterogeneity. In this paper, we apply Bayesian procedures as a numerical tool for the estimation of a female labor supply model based on a sample size which is typical for common household panels. We provide...

This paper empirically investigates the effects of differential income taxation on households' portfolio choice and asset allocation applying a two-stage budgeting model of asset demand to German survey data. The model is structured into the discrete asset choice and the continuous asset choice,...

This paper empirically investigates distributional and welfare effects of Germany's year 2000 income tax reform. The reform is simulated in an ex-ante behavioral microsimulation approach. Dead weight loss of changes in capital income taxation is estimated in a structural model for household...

This paper proposes a dynamic life cycle model of health risks, employment, early retirement, and wealth accumulation in order to analyze the health-related risks of consumption and old age poverty. In particular, the model includes a health process, the interaction between health and employment...

Im Rahmen der Diskussion um die finanzielle Förderung von Familien in Deutschland spielen zurzeit auch Vorschläge zur Reform der Familienbesteuerung eine Rolle. Dabei zeigt sich thematisch ein breites Spektrum. Es reicht von Erhöhungen des Kindergelds und Anpassungen des Kinderfreibetrags in...

Schwere Erkrankungen stellen ein wesentliches Risiko für Einkommen und Vermögensbildung der Haushalte in Deutschland dar. Das Risiko krankheits-bedingter Erwerbsunfähigkeit soll zwar langfristig durch die Erwerbs-minderungsrente (EM-Rente) abgesichert werden. Die durchschnittlichen...