@article{2493, abstract = {The German law on co-determination at the plant level (Betriebsverfassungsgesetz) stipulates that works councilors are neither to be financially rewarded nor penalized for their activities. However, lavish payments to works councilors in some large firms have generated a debate about the need to reform the law. This article offers an empirical basis for the discussion and provides representative evidence on wage payments to works councilors for the period 2001–2015. The authors find wage premia of 3–7% in OLS specifications, but observe no wage differentials in linear fixed-effects panel data specifications. Similar results are found for various subgroups of employees and when focusing on employees in particular types of firms. Hence, the results indicate that payments to works councilors are broadly in line with legal regulations.}, author = {Pannenberg, Markus and Goerke, Laszlo}, journal = {Economic and Industrial Democracy}, publisher = {Sage Journals}, title = {{Wage determination in the shadow of the law: The case of works councilors in Germany}}, doi = {https://doi.org/10.1177/0143831X221139331}, year = {2022}, } @article{1135, abstract = {This paper investigates if and how time preferences are related to beliefs regarding one’s own future outcomes. We measure overconfident beliefs using the difference between an individual’s expected position and their observed percentile in the distribution of monthly gross wages one year after our survey. Our regression exercises link this bias measure to information about patience, conditioning on risk preferences, personality traits, cognitive ability, and the individual’s socio-economic status. On average, we find that greater patience is associated with lower overplacement in the future distribution of individual monthly gross wages.}, author = {Friehe, Tim and Pannenberg, Markus}, issn = {22148043}, journal = {Journal of Behavioral and Experimental Economics}, publisher = {Elsevier BV}, title = {{Time preferences and overconfident beliefs: Evidence from germany}}, doi = {10.1016/j.socec.2020.101651}, volume = {92}, year = {2021}, } @article{1136, abstract = {We use the separation and later reunification of Germany after World War II to show that a political regime shapes time preferences of its residents. Using two identification strategies, we find that former residents of the German Democratic Republic exhibit a significantly less pronounced present bias when compared with former residents of the Federal Republic of Germany, whereas measures of patience are statistically indistinguishable. Interpreting the years spent under the regime as a proxy for treatment intensity yields consistent results. Moreover, we present evidence showing that present bias predicts choices in the domains of health, finance, and education, thereby illustrating lasting repercussions of a regime’s influence on time preferences.}, author = {Friehe, Tim and Pannenberg, Markus}, issn = {1432-1475}, journal = {Journal of Population Economics}, number = {1}, pages = {349--387}, publisher = {Springer Science and Business Media LLC}, title = {{Time preferences and political regimes: evidence from reunified Germany}}, doi = {10.1007/s00148-019-00728-7}, volume = {33}, year = {2020}, } @article{1137, abstract = {This paper investigates if and how overconfidence at the individual level changes over the course of a life. We provide age profiles of a novel continuous overconfidence measure and the probability of being overconfident, conditioning on personality traits (including the Big 5 and optimism), economic preferences, cognitive ability, and the individual’s socio-economic status. Our empirical work relies on representative panel data sets from Germany, and individuals’ both self-assessed and actual percentile in the monthly gross wage distribution are incorporated in our measure of overconfidence. We find that both the level of relative placement and the overplacement probability increase with age up to one's fifties.}, author = {Friehe, Tim and Pannenberg, Markus}, issn = {01674870}, journal = {Journal of Economic Psychology}, publisher = {Elsevier BV}, title = {{Overconfidence over the lifespan: Evidence from Germany}}, doi = {10.1016/j.joep.2019.102207}, volume = {74}, year = {2019}, } @article{1138, author = {Friehe, Tim and Mechtel, Mario and Pannenberg, Markus}, issn = {1466-4291}, journal = {Applied Economics Letters}, number = {14}, pages = {1024--1028}, publisher = {Informa UK Limited}, title = {{Positional income concerns and personality: evidence from Germany}}, doi = {10.1080/13504851.2017.1391995}, volume = {25}, year = {2017}, } @article{1141, author = {Goerke, Laszlo and Jeworrek, Sabrina and Pannenberg, Markus}, issn = {2193-8997}, journal = {IZA Journal of Labor Economics}, number = {1}, publisher = {Walter de Gruyter GmbH}, title = {{Trade union membership and paid vacation in Germany}}, doi = {10.1186/s40172-015-0033-5}, volume = {4}, year = {2015}, } @article{1140, author = {Goerke, Laszlo and Pannenberg, Markus}, issn = {09275371}, journal = {Labour Economics}, pages = {13--25}, publisher = {Elsevier BV}, title = {{Trade union membership and sickness absence: Evidence from a sick pay reform}}, doi = {10.1016/j.labeco.2015.02.004}, volume = {33}, year = {2015}, } @article{1139, author = {Goerke, Laszlo and Pannenberg, Markus}, issn = {01651765}, journal = {Economics Letters}, pages = {95--101}, publisher = {Elsevier BV}, title = {{Direct evidence for income comparisons and subjective well-being across reference groups}}, doi = {10.1016/j.econlet.2015.10.012}, volume = {137}, year = {2015}, } @article{3438, author = {Pannenberg, Markus and Goerke, Laszlo}, journal = {Labour}, number = {2}, publisher = {Wiley}, title = {{Risk Aversion, Collective Bargaining, and Wages in Germany}}, doi = {https://doi.org/10.1111/j.1467-9914.2011.00536.x}, volume = {26}, year = {2012}, } @article{1142, author = {Goerke, Laszlo and Pannenberg, Markus}, issn = {03470520}, journal = {The Scandinavian Journal of Economics}, number = {2}, pages = {275--295}, publisher = {Wiley}, title = {{Risk Aversion and Trade-Union Membership*}}, doi = {10.1111/j.1467-9442.2012.01694.x}, volume = {114}, year = {2012}, } @article{3437, author = {Pannenberg, Markus and Goerke, Laszlo}, journal = {Labour Economics}, number = {18}, publisher = {Elsevier}, title = {{Trade union membership and dismissals}}, doi = {https://doi.org/10.1016/j.labeco.2011.06.012}, volume = {6}, year = {2011}, } @article{1144, author = {Pannenberg, Markus and Goerke, Laszlo}, journal = {Die Betriebswirtschaft}, number = {3}, pages = {243--263}, title = {{Ist §1a KSchG ein „Nullum“? Eine Analyse der Veränderung der Verteilung der Abfindungsfaktoren in Westdeutschland}}, volume = {71}, year = {2011}, } @article{1143, abstract = { In 2004, a section was added to the German Protection against Dismissal Act, establishing a new procedure to dismiss an employee, given a predetermined severance payment. Most legal scholars presume the change to be without impact, while a minority of experts claims it to be either beneficial or unfavorable to employees. Our theoretical model suggests that firms will use the new procedure, but that the change in payoffs is indeterminate and, therefore, an empirical issue. Exploiting the fact that collective dismissals are not directly affected by the amendment, difference-in-differences estimates based on panel data for West Germany indicate that the legal change did have a negative effect on severance pay. }, author = {Goerke, Laszlo and Pannenberg, Markus}, issn = {1555-5879}, journal = {Review of Law & Economics}, number = {2}, publisher = {Walter de Gruyter GmbH}, title = {{'Take It or Go to Court': The Impact of Sec. 1a of the German Protection Against Dismissal Act on Severance Payments}}, doi = {10.2202/1555-5879.1519}, volume = {7}, year = {2011}, } @article{1146, author = {Pannenberg, Markus}, issn = {01651765}, journal = {Economics Letters}, number = {3}, pages = {223--226}, publisher = {Elsevier BV}, title = {{Risk attitudes and reservation wages of unemployed workers: Evidence from panel data}}, doi = {10.1016/j.econlet.2009.12.005}, volume = {106}, year = {2010}, } @article{1147, author = {Goerke, Laszlo and Pannenberg, Markus}, issn = {01448188}, journal = {International Review of Law and Economics}, number = {1}, pages = {71--85}, publisher = {Elsevier BV}, title = {{An economic analysis of dismissal legislation: Determinants of severance pay in West Germany}}, doi = {10.1016/j.irle.2009.09.003}, volume = {30}, year = {2010}, } @article{1145, author = {Goerke, Laszlo and Pannenberg, Markus and Ursprung, Heinrich W.}, issn = {1573-7101}, journal = {Public Choice}, number = {1-2}, pages = {137--163}, publisher = {Springer Science and Business Media LLC}, title = {{A positive theory of the earnings relationship of unemployment benefits}}, doi = {10.1007/s11127-009-9558-0}, volume = {145}, year = {2010}, } @article{1149, author = {Goerke, Laszlo and Pannenberg, Markus}, issn = {09275371}, journal = {Labour Economics}, number = {1}, pages = {107--118}, publisher = {Elsevier BV}, title = {{The effects of income taxation on severance pay}}, doi = {10.1016/j.labeco.2008.07.001}, volume = {16}, year = {2009}, } @article{1148, author = {Pannenberg, Markus and Spiess, Martin}, issn = {1863-818X}, journal = {AStA Advances in Statistical Analysis}, number = {4}, pages = {427--447}, publisher = {Springer Science and Business Media LLC}, title = {{GEE estimation of the covariance structure of a bivariate panel data model with an application to wage dynamics and the incidence of profit-sharing in West Germany}}, doi = {10.1007/s10182-009-0117-2}, volume = {93}, year = {2009}, } @article{1150, author = {Pannenberg, Markus}, issn = {1865-5386}, journal = {Sozialer Fortschritt}, number = {2}, pages = {39--43}, publisher = {Duncker & Humblot GmbH}, title = {{Individuelle Erträge von Weiterbildung in KMU's und Großbetrieben: Evidenz für Westdeutschland}}, doi = {10.3790/sfo.57.2.39}, volume = {57}, year = {2008}, } @article{1151, author = {Pannenberg, Markus and Laszlo, Goerke}, journal = {Industrielle Beziehungen}, number = {2}, pages = {154--175}, title = {{Trade Union Membership and Works Councils in West Germany}}, volume = {14}, year = {2007}, }