MICROPROD
MICROPROD Raising EU Productivity: Lessons from Improved Micro Data Ziel von MICROPROD ist es, zu einem besseren Verständnis der Herausforderungen beizutragen, die die vierte…
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The Causal Impact of Gender Norms on Mothers’ Employment Attitudes and Expectations
Henning Hermes, Marina Krauß, Philipp Lergetporer, Frauke Peter, Simon Wiederhold
CESifo Working Papers,
Nr. 11572,
2024
Abstract
This field experiment investigates the causal impact of mothers’ perceptions of gender norms on their employment attitudes and labor-supply expectations. We provide mothers of young children in Germany with information about the prevailing gender norm regarding maternal employment in their city. At baseline, over 70% of mothers incorrectly perceive this gender norm as too conservative. Our randomized treatment improves the accuracy of these perceptions, significantly reducing the share of mothers who misperceive gender norms as overly conservative. The treatment also shifts mothers’ own labor-market attitudes towards being more liberal – and we show that specifically the shifted attitude is a strong predictor of mothers’ future labor-market participation. Consistently, treated mothers are significantly more likely to plan an increase in their working hours one year ahead.
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The Causal Impact of Gender Norms on Mothers’ Employment Attitudes and Expectations
Henning Hermes, Marina Krauß, Philipp Lergetporer, Frauke Peter, Simon Wiederhold
IWH Discussion Papers,
Nr. 28,
2024
Abstract
This field experiment investigates the causal impact of mothers’ perceptions of gender norms on their employment attitudes and labor-supply expectations. We provide mothers of young children in Germany with information about the prevailing gender norm regarding maternal employment in their city. At baseline, over 70% of mothers incorrectly perceive this gender norm as too conservative. Our randomized treatment improves the accuracy of these perceptions, significantly reducing the share of mothers who misperceive gender norms as overly conservative. The treatment also shifts mothers’ own labor-market attitudes towards being more liberal – and we show that specifically the shifted attitude is a strong predictor of mothers’ future labor-market participation. Consistently, treated mothers are significantly more likely to plan an increase in their working hours one year ahead.
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Training, Automation, and Wages: International Worker-level Evidence
Oliver Falck, Yuchen Guo, Christina Langer, Valentin Lindlacher, Simon Wiederhold
CESifo Working Papers,
Nr. 11533,
2024
Abstract
Job training is widely regarded as crucial for protecting workers from automation, yet there is a lack of empirical evidence to support this belief. Using internationally harmonized data from over 90,000 workers across 37 industrialized countries, we construct an individual-level measure of automation risk based on tasks performed at work. Our analysis reveals substantial within-occupation variation in automation risk, overlooked by existing occupation-level measures. To assess whether job training mitigates automation risk, we exploit within-occupation and within-industry variation. Additionally, we employ entropy balancing to re-weight workers without job training based on a rich set of background characteristics, including tested numeracy skills as a proxy for unobserved ability. We find that job training reduces workers’ automation risk by 4.7 percentage points, equivalent to 10 percent of the average automation risk. The training-induced reduction in automation risk accounts for one-fifth of the wage returns to job training. Job training is effective in reducing automation risk and increasing wages across nearly all countries, underscoring the external validity of our findings. Women tend to benefit more from training than men, with the advantage becoming particularly pronounced at older ages.
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26.02.2025 • 7/2025
Presseeinladung zur IWH-Jahrestagung: „Fachkräftemangel in Deutschland" am 4. März 2025
Wie die Herausforderungen des Fachkräftemangels gemeistert werden können, diskutiert die Jahrestagung des Leibniz-Instituts für Wirtschaftsforschung Halle (IWH) mit Gästen aus Politik, Wirtschaft und Wissenschaft. Es sprechen unter anderem Leonie Gebers, Staatssekretärin im Bundesministerium für Arbeit und Soziales, sowie Markus Behrens, Regionalchef Sachsen-Anhalt-Thüringen der Bundesagentur für Arbeit.
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Do Markets Value Manager-investor Interaction Quality? Evidence from IPO Returns
Shibo Bian, Iftekhar Hasan, Xunxiao Wang, Zhipeng Yan
Review of Quantitative Finance and Accounting,
August
2024
Abstract
This paper investigates the impact of manager-investor interaction quality on stock returns by utilizing an online IPO roadshow dataset and leveraging a word-embedding model. We find that such interactions are positively valued, as reflected in initial returns. The effect is particularly pronounced for firms characterized by higher levels of information asymmetry, greater investor attention, increased question uncertainty, or discussions on topics not covered in prospectus. Additionally, our research reveals that effective management communication leads to increased first-day turnover rates and thus higher returns. These heightened returns persist up to 180 days following the IPO, without displaying a significant long-term reversal associated with interaction quality. These findings underscore the meaningful impact of the quality of manager-investor interactions on firm valuation.
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Training, Automation, and Wages: International Worker-level Evidence
Oliver Falck, Yuchen Guo, Christina Langer, Valentin Lindlacher, Simon Wiederhold
IWH Discussion Papers,
Nr. 27,
2024
Abstract
Job training is widely regarded as crucial for protecting workers from automation, yet there is a lack of empirical evidence to support this belief. Using internationally harmonized data from over 90,000 workers across 37 industrialized countries, we construct an individual-level measure of automation risk based on tasks performed at work. Our analysis reveals substantial within-occupation variation in automation risk, overlooked by existing occupation-level measures. To assess whether job training mitigates automation risk, we exploit within-occupation and within-industry variation. Additionally, we employ entropy balancing to re-weight workers without job training based on a rich set of background characteristics, including tested numeracy skills as a proxy for unobserved ability. We find that job training reduces workers’ automation risk by 4.7 percentage points, equivalent to 10 percent of the average automation risk. The training-induced reduction in automation risk accounts for one-fifth of the wage returns to job training. Job training is effective in reducing automation risk and increasing wages across nearly all countries, underscoring the external validity of our findings. Women tend to benefit more from training than men, with the advantage becoming particularly pronounced at older ages.
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Gleichstellung & Antidiskriminierung
Chancengleichheit am IWH Das IWH bekennt sich zu einer aktiven Förderung der beruflichen Gleichstellung von Frauen und Männern, die über gesetzliche Vorgaben hinausgeht. Im Jahr…
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Banks’ foreign homes
Kirsten Schmidt, Lena Tonzer
Deutsche Bundesbank Discussion Papers,
Nr. 46,
2024
Abstract
Our results reveal that higher lending spreads between foreign and home markets redirect real estate backed lending towards foreign markets offering a higher interest rate, which provides evidence for "search for yield" behavior. This re-allocation is found especially for banks with more expertise on the foreign market due to a higher local activity and holds for commercial and residential real estate backed loans. Furthermore, "search for yield" behavior and a resulting increase in foreign real estate backed lending is found when macroprudential regulation is missing or misaligned between a bank’s country of residence and the destination country. When turning to the question of whether the detected search for yield behavior results in more risk, we find that especially better capitalized banks report higher forbearance ratios as they might face less stigma effects compared to low capitalized banks.
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