Lebenseinkommen – Entwicklung des Einkommens im Lebensverlauf
Das im Verlauf des Erwerbslebens erzielbare Einkommen ist oft ein Entscheidungskriterium bei der Frage "Studium oder Berufsausbildung". Lohnt sich ein Studium oder kann mit einer Berufsausbildung langfristig ein höheres Einkommen erzielt werden? Wie entwickelt sich das Lebenseinkommen im inter- und intragenerationalen Vergleich? Sind Unterschiede zwischen den Geschlechtern zu beobachten? Welchen Einfluss haben Phasen der Arbeitslosigkeit auf das Lebenseinkommen?
Die Infoplattform widmet sich den theoretischen Grundlagen und empirischen Studien zum Thema.
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Literaturhinweis
Longevity, education, and income: how large is the triangle? (2018)
Bleakley, Hoyt;Zitatform
Bleakley, Hoyt (2018): Longevity, education, and income. How large is the triangle? (NBER working paper 24247), Cambrige, Mass., 63 S. DOI:10.3386/w24247
Abstract
"While health affects economic development and wellbeing through a variety of pathways, one commonly suggested mechanism is a 'horizon' channel in which increased longevity induces additional education. A recent literature devotes much attention to how much education responds to increasing longevity, while this study asks instead what impact this specific channel has on wellbeing (welfare). I note that death is like a tax on human-capital investments, which suggests the use of a standard public-economics tool: triangles. I construct estimates of the triangle gain if education adjusts to lower adult mortality. Even for implausibly large responses of education to survival differences, almost all of today's low-human-development countries, if switched instantaneously to Japan's survival curve, would place a value on this channel of less than 15% of income. Calibrating the model with well-identified micro- and cohort-level studies, I find that the horizon triangle for the typical low-income country is instead less than a percent of lifetime income. Gains from increased survival in the 20th-century are similarly sized." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
How to measure and proxy permanent income: evidence from Germany and the U.S. (2018)
Zitatform
Brady, David, Marco Giesselmann, Ulrich Kohler & Anke Radenacker (2018): How to measure and proxy permanent income: evidence from Germany and the U.S. In: Journal of Economic Inequality, Jg. 16, H. 3, S. 321-345. DOI:10.1007/s10888-017-9363-9
Abstract
"Permanent income (PI) is an enduring concept in the social sciences and is highly relevant to the study of inequality. Nevertheless, there has been insufficient progress in measuring PI. We calculate a novel measure of PI with the German Socio-Economic Panel (SOEP) and U.S. Panel Study of Income Dynamics (PSID). Advancing beyond prior approaches, we define PI as the logged average of 20+ years of post-tax and post-transfer (“post-fisc”) real equivalized household income. We then assess how well various household- and individual-based measures of economic resources proxy PI. In both datasets, post-fisc household income is the best proxy. One random year of post-fisc household income explains about half of the variation in PI, and 2–5 years explain the vast majority of the variation. One year of post-fisc HH income even predicts PI better than 20+ years of individual labor market earnings or long-term net worth. By contrast, earnings, wealth, occupation, and class are weaker and less cross-nationally reliable proxies for PI. We also present strategies for proxying PI when HH post-fisc income data are unavailable, and show how post-fisc HH income proxies PI over the life cycle. In sum, we develop a novel approach to PI, systematically assess proxies for PI, and inform the measurement of economic resources more generally." (Author's abstract, IAB-Doku, © Springer-Verlag) ((en))
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Literaturhinweis
Risk and return trade-offs in lifetime earnings (2018)
Dillon, Eleanor Wiske;Zitatform
Dillon, Eleanor Wiske (2018): Risk and return trade-offs in lifetime earnings. In: Journal of labor economics, Jg. 36, H. 4, S. 981-1021. DOI:10.1086/697475
Abstract
"This paper documents differences in lifetime earnings risk across occupations due to wage risk, employment risk, and mid-career occupation changes, which can mitigate other shocks. Total lifetime earnings risk varies considerably across starting occupation and riskier occupations pay more in expectation. The average worker would give up at least 9% of total lifetime earnings in the least certain occupation in order to reduce the riskiness of that occupation to the level of the safest starting occupation. The insurance value of occupational mobility is quantitatively important. With mobility, workers absorb only 60%, on average, of negative occupation-specific wage shocks." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Alterseinkünfte im Wandel (2018)
Frommert, Dina; Himmelreicher, Ralf K.;Zitatform
Frommert, Dina & Ralf K. Himmelreicher (2018): Alterseinkünfte im Wandel. In: Deutsche Rentenversicherung, Jg. 73, H. 1, S. 22-65.
Abstract
"In dem folgenden Beitrag werden die Alterseinkünfte von in Deutschland lebenden Personen im Alter von 60 bis einschließlich 69 Jahren untersucht. Die dargestellten Befunde basieren auf drei derzeit verfügbaren Erhebungen der Studie 'Alterssicherung in Deutschland' (ASID) aus den Jahren 2003, 2007 und 2011. Auf Grundlage dieser Daten ist es möglich, unterschiedliche Quellen der Alterseinkünfte zu unterscheiden und herauszuarbeiten, welches Gewicht unterschiedliche Vorsorgeformen für bestimmte Personengruppen haben. Ein Vergleich der Höhe der Alterseinkünfte zwischen Frauen und Männern in West- und Ostdeutschland zeigt, dass der sogenannte Gender Pension Gap im Westen wesentlich größer ist als im Osten, und zwar insbesondere dann, wenn die Alterseinkünfte eher niedrig sind. Hinsichtlich der Zusammensetzung der Alterseinkünfte wird deutlich, dass zusätzliche betriebliche und private Altersvorsorge eher von Personen praktiziert wurde, die vergleichsweise hohe Anwartschaften in der gesetzlichen Rentenversicherung haben. Personen mit niedrigen gesetzlichen Renten haben häufig nicht weiter vorgesorgt. Falls doch, dann haben sie eher Anwartschaften in der privaten als in der betrieblichen Altersvorsorge. Die Auszahlungsbeträge fallen aber eher gering aus. Im zeitlichen Verlauf zeigen sich uneinheitliche Tendenzen. Insbesondere in Ostdeutschland nimmt die Verbreitung der betrieblichen Altersversorgung zu, gleichzeitig zeigt sich für die private Vorsorge ein rückläufiger Trend über die drei betrachteten Zeitpunkte." (Autorenreferat, IAB-Doku)
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Literaturhinweis
Elite schools and opting-in: Effects of college selectivity on career and family outcomes (2018)
Ge, Suqin; Isaac, Elliott; Miller, Amalia;Zitatform
Ge, Suqin, Elliott Isaac & Amalia Miller (2018): Elite schools and opting-in: Effects of college selectivity on career and family outcomes. (NBER working paper 25315), Cambrige, Mass., 42 S. DOI:10.3386/w25315
Abstract
"Using College and Beyond data and a variant on Dale and Krueger's (2002) matched-applicant approach, this paper revisits the question of how attending an elite college affects later-life outcomes. We expand the scope along two dimensions: we do not restrict the sample to full-time full-year workers and we examine labor force participation, human capital, and family formation. For men, our findings echo those in Dale and Krueger (2002): controlling for selection eliminates the positive relationship between college selectivity and earnings. We also find no significant effects on men's educational or family outcomes. The results are quite different for women: we find effects on both career and family outcomes. Attending a school with a 100-point higher average SAT score increases women's probability of advanced degree attainment by 5 percentage points and earnings by 14 percent, while reducing their likelihood of marriage by 4 percentage points. The effect of college selectivity on own earnings is significantly larger for married than for single women. Among married women, selective college attendance significantly increases spousal education." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Personality, IQ, and lifetime earnings (2018)
Zitatform
Gensowski, Miriam (2018): Personality, IQ, and lifetime earnings. In: Labour economics, Jg. 51, H. April, S. 170-183. DOI:10.1016/j.labeco.2017.12.004
Abstract
"This paper estimates the effects of personality traits and IQ on lifetime earnings of the men and women of the Terman study, a high-IQ U.S. sample. Age-by-age earnings profiles allow a study of when personality traits affect earnings most, and for whom the effects are strongest. I document a concave life-cycle pattern in the payoffs to personality traits, with the largest effects between the ages of 40 and 60. An interaction of traits with education reveals that personality matters most for highly educated men. The largest effects are found for Conscientiousness, Extraversion, and Agreeableness (negative), where Conscientiousness operates partly through education, which also has significant returns." (Author's abstract, © 2017 Elsevier) ((en))
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Literaturhinweis
Hours risk, wage risk, and life-cycle labor supply (2018)
Zitatform
Jessen, Robin & Johannes König (2018): Hours risk, wage risk, and life-cycle labor supply. (Ruhr economic papers 771), Essen, 32 S.
Abstract
"We decompose permanent earnings risk into contributions from hours and wage shocks. In order to distinguish between hours shocks and labor supply reactions to wage shocks we use a life-cycle model of consumption and labor supply. Estimating our model with the Panel Study of Income Dynamics (PSID) shows that both permanent wage and hours shocks play an important role in explaining the cross-sectional variance in earnings growth, but wage risk has greater relevance. Allowing for hours shocks improves the model fit considerably. The empirical strategy allows for the estimation of the Marshallian labor supply elasticity without the use of consumption or asset data. We find this elasticity on average to be negative, but small. The degree of consumption insurance implied by our results is in line with recent estimates in the literature." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Intergenerational earnings persistence and economic inequality in the long-run: evidence from French cohorts, 1931-1975 (2018)
Zitatform
Lefranc, Arnaud (2018): Intergenerational earnings persistence and economic inequality in the long-run. Evidence from French cohorts, 1931-1975. (IZA discussion paper 11406), Bonn, 49 S.
Abstract
"This paper analyzes long-term trends in intergenerational earnings persistence in France for male cohorts born between 1931 and 1975. This time period has witnessed important changes in the French labor market and educational system, in particular an important compression of earnings differentials as well as a large expansion in access to secondary and higher education. Using a two-sample instrumental variables approach, I estimate two measures of intergenerational economic persistence: the intergenerational earnings elasticity (IGE) and the intergenerational correlation (IGC). Over the period, the IGE exhibits a V-shaped pattern. It falls from a high of value of .6 for cohorts born in the 1930s to around .4 for those born in the 1950s, but subsequently rises to a level close to the beginning of the period. In contrast, the IGC remains relatively stable over the period. This suggests that changes in the IGE are partly driven by transitory responses to changes in cross-sectional inequality rather than long-term changes in the degree of intergenerational persistence." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Post-schooling human capital investments and the life cycle of earnings (2018)
Magnac, Thierry; Pistolesi, Nicolas; Roux, Sébastien;Zitatform
Magnac, Thierry, Nicolas Pistolesi & Sébastien Roux (2018): Post-schooling human capital investments and the life cycle of earnings. In: Journal of Political Economy, Jg. 126, H. 3, S. 1219-1249. DOI:10.1086/697206
Abstract
"We propose an original model of human capital investments after leaving school in which individuals differ in their initial human capital obtained at school, their rates of return and costs of human capital investments, and their terminal values of human capital at an arbitrary date in the future. We derive a tractable reduced-form Mincerian model of log earnings profiles along the life cycle that is written as a linear factor model in which levels, growth, and curvature of earnings profiles are individual specific. This provides a structural interpretation of results obtained in the empirical literature on the dynamics of earnings and acknowledges its limitations." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Estimates of the causal effects of education on earnings over the life cycle with cohort effects and endogenous education (2018)
Migali, Guiseppe; Walker, Ian;Zitatform
Migali, Guiseppe & Ian Walker (2018): Estimates of the causal effects of education on earnings over the life cycle with cohort effects and endogenous education. In: CESIfo Economic Studies, Jg. 64, H. 3, S. 516-544. DOI:10.1093/cesifo/ifx020
Abstract
"We estimate the wage premia associated with educational attainments focusing on the life cycle pattern of earnings. We employ a model where educational attainment is discrete and ordered and log wages are determined by a simple function of work experience for each level of attainment. We distinguish between life cycle and cohort effects by exploiting the fact that we have a short panel. We find that age-earnings profiles lose the traditional bell shape and become flat when we allow for cohort differences. Females still have higher college premia compared to males. However, there are clear earnings inequalities between cohorts with smaller college premia for younger compared to older cohorts, for both males and females." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Is there a motherhood penalty in retirement income in Europe?: the role of lifecourse and institutional characteristics (2018)
Zitatform
Möhring, Katja (2018): Is there a motherhood penalty in retirement income in Europe? The role of lifecourse and institutional characteristics. In: Ageing and society, Jg. 38, H. 12, S. 2560-2589. DOI:10.1017/S0144686X17000812
Abstract
"This study examines the retirement income of women in Europe, focusing on the effect of motherhood. Due to their more interrupted working careers compared to non-mothers and fathers, mothers are likely to accumulate fewer pension entitlements, and consequently, to receive lower incomes in later life. However, pension systems in Europe vary widely in the degree to which they compensate for care-related career interruptions by means of redistributive elements or pension care entitlements. Therefore, care interruptions may matter for the retirement income of women in some countries, but may be rather irrelevant in others. On the basis of life history data from the Survey of Health, Ageing and Retirement in Europe (SHARELIFE) for women aged between 60 and 75 years in 13 European countries, the interplay of individual lifecourse characteristics with institutional and structural factors is examined. The results show that the lower retirement income of mothers is mainly a result of fewer years in employment and lower-status jobs throughout the lifecourse. The analysis of institutional factors reveals that pension care entitlements are not able to provide a compensation for care-related cutbacks in working life. A generally redistributive design of the pension system including basic or targeted pension schemes, in contrast, appears as an effective measure to balance differences in employment participation over the lifecourse." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Understanding the mechanisms through which adverse childhood experiences affect lifetime economic outcomes (2018)
Schurer, Stefanie; Trajkovski, Kristian;Zitatform
Schurer, Stefanie & Kristian Trajkovski (2018): Understanding the mechanisms through which adverse childhood experiences affect lifetime economic outcomes. (IZA discussion paper 11450), Bonn, 47 S.
Abstract
"Over the past two decades, researchers have shown a growing interest in the role of adverse childhood experiences (ACEs) - children's confrontation with maltreatment and household dysfunction - in shaping lifetime opportunities. However, this is the first study to quantify the economic penalties of ACEs and identify the mechanisms which produce the relationship. We source data from the National Child Development Study to construct an ACE index based on prospective childhood information and estimate an earnings penalty of 7.3 percent for each additional ACE, a 53.1 percent higher probability of being welfare dependent, and a 34 percent higher probability of poverty at age 55, controlling for important background factors measured in childhood. The results are driven by parental neglect, a component of the ACE index based on teacher assessments. Observed differences in later-life earnings between children with and without neglect exposure can be fully explained by observable differences in human capital accumulated by age 33. The productivity loss in an economy due to parental failures to nurture and protect their children is likely to be high. Our findings contribute to a wider discussion on the multidimensionality and expanding definitions of childhood poverty." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Unlucky cohorts: Estimating the long-term effects of entering the labor market in a recession in large cross-sectional data sets (2018)
Schwandt, Hannes; von Wachter, Till M.;Zitatform
Schwandt, Hannes & Till M. von Wachter (2018): Unlucky cohorts: Estimating the long-term effects of entering the labor market in a recession in large cross-sectional data sets. (NBER working paper 25141), Cambrige, Mass., 68 S. DOI:10.3386/w25141
Abstract
"This paper studies the differential persistent effects of initial economic conditions for labor market entrants in the United States from 1976 to 2015 by education, gender, and race using labor force survey data. We find persistent earnings and wage reductions especially for less advantaged entrants that increases in government support only partly offset. We confirm the results are unaffected by selective migration and labor market entry by also using a double-weighted average unemployment rate at labor market entry for each birth cohort and state-of-birth cell based on average state migration rates and average cohort education rates from Census data." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
On the measurement of long-run income inequality: empirical evidence from Norway, 1875-2013 (2017)
Aaberge, Rolf; Atkinson, Anthony B.; Modalsli, Jorgen;Zitatform
Aaberge, Rolf, Anthony B. Atkinson & Jorgen Modalsli (2017): On the measurement of long-run income inequality. Empirical evidence from Norway, 1875-2013. (IZA discussion paper 10574), Bonn, 85 S.
Abstract
"In seeking to understand inequality today, a great deal can be learned from history. However, there are few countries for which the long-run development of income inequality has been charted. Many countries have records of incomes, taxes and social support. This paper presents a new methodology constructing income inequality indices from such data. The methodology is applied to Norway, for which rich historical data sources exist. Taking careful account of the definition of income and population and the availability of micro data starting in 1967, an upper and lower bound for the pre-tax income Gini coefficient is produced." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The career costs of children (2017)
Adda, Jérôme; Dustmann, Christian; Stevens, Katrien;Zitatform
Adda, Jérôme, Christian Dustmann & Katrien Stevens (2017): The career costs of children. In: Journal of Political Economy, Jg. 125, H. 2, S. 293-337. DOI:10.1086/690952
Abstract
"We estimate a dynamic life cycle model of labor supply, fertility, and savings, incorporating occupational choices, with specific wage paths and skill atrophy that vary over the career. This allows us to understand the trade-off between occupational choice and desired fertility, as well as sorting both into the labor market and across occupations. We quantify the life cycle career costs associated with children, how they decompose into loss of skills during interruptions, lost earnings opportunities, and selection into more child-friendly occupations. We analyze the long-run effects of policies that encourage fertility and show that they are considerably smaller than short-run effects." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
Life-cycle earnings, education premiums, and internal rates of return (2017)
Bhuller, Manudeep; Salvanes, Kjell G.; Mogstad, Magne;Zitatform
Bhuller, Manudeep, Magne Mogstad & Kjell G. Salvanes (2017): Life-cycle earnings, education premiums, and internal rates of return. In: Journal of Labor Economics, Jg. 35, H. 4, S. 993-1030. DOI:10.1086/692509
Abstract
"Using Norwegian population panel data with nearly career-long earnings histories, we provide a detailed picture of the causal relationship between schooling and earnings over the life cycle. To address selection bias, we apply three commonly used identification strategies. We find that additional schooling gives higher lifetime earnings and a steeper age-earnings profile, in line with predictions from human capital theory. Our preferred estimates imply an internal rate of return of around 11%, suggesting that it was highly profitable to acquire additional schooling. Our analysis reveals that Mincer regressions dramatically understate the returns to schooling because key assumptions are violated." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The gender lifetime earnings gap - exploring gendered pay from the life course perspective (2017)
Zitatform
Boll, Christina, Malte Jahn & Andreas Lagemann (2017): The gender lifetime earnings gap - exploring gendered pay from the life course perspective. (HWWI research paper 179), Hamburg, 50 S.
Abstract
Research on the gender earnings divide so far mostly focuses on the gender gap in hourly wages which, due to its snapshot nature, is inappropriate to capture the biographical dimension of gendered pay. With the 'gender lifetime earnings gap' (GLEG), we introduce a new measure that meets this requirement. Based on a group of 93,511 German individuals born 1950-64 from the 'Sample of Integrated Labour Market Biographies' (SIAB 7510), we find that at the end of the employment career, women accumulated 49.8 % less earnings than men. Thus, the GLEG is more than twice as high as the current German gender pay gap. The GLEG is the largest (smallest) at the bottom (top) of the earnings distribution. It most prominently widens during the period of family formation (age 25-35). Relatedly, gender differences in endowments, mainly in terms of experience and hours, answer for three quarters of the GLEG. For younger cohorts, family breaks tend to lose importance whereas the role of work hours remains unchanged. Furthermore, the GLEG notably differs between occupational segments.
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Literaturhinweis
Books are forever: early life conditions, education and lifetime earnings in Europe (2017)
Zitatform
Brunello, Giorgio, Guglielmo Weber & Christoph T. Weiss (2017): Books are forever. Early life conditions, education and lifetime earnings in Europe. In: The economic journal, Jg. 127, H. 600, S. 271-296. DOI:10.1111/ecoj.12307
Abstract
"We estimate the effect of education on lifetime earnings by distinguishing between individuals who lived in rural or urban areas during childhood and between individuals with access to many or few books at home at age 10. We instrument years of education using compulsory school reforms and find that, whereas individuals in rural areas were most affected by the reforms, those with many books enjoyed substantially higher returns to their additional education. We show that books retain explanatory power even when we select relatively homogeneous groups in terms of the economic position of the household." (Author's abstract, Published by arrangement with John Wiley & Sons) ((en))
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Literaturhinweis
Lifetime incomes in the United States over six decades (2017)
Guvenen, Fatih; Weidner, Justin; Kaplan, Greg; Song, Jae;Zitatform
Guvenen, Fatih, Greg Kaplan, Jae Song & Justin Weidner (2017): Lifetime incomes in the United States over six decades. (NBER working paper 23371), Cambrige, Mass., 76 S. DOI:10.3386/w23371
Abstract
"Using panel data on individual labor income histories from 1957 to 2013, we document two empirical facts about the distribution of lifetime income in the United States. First, from the cohort that entered the labor market in 1967 to the cohort that entered in 1983, median lifetime income of men declined by 10% - 19%. We find little-to-no rise in the lower three-quarters of the percentiles of the male lifetime income distribution during this period. Accounting for rising employer-provided health and pension benefits partly mitigates these findings but does not alter the substantive conclusions. For women, median lifetime income increased by 22% - 33% from the 1957 to the 1983 cohort, but these gains were relative to very low lifetime income for the earliest cohort. Much of the difference between newer and older cohorts is attributed to differences in income during the early years in the labor market. Partial life-cycle profiles of income observed for cohorts that are currently in the labor market indicate that the stagnation of lifetime incomes is unlikely to reverse. Second, we find that inequality in lifetime incomes has increased significantly within each gender group. However, the closing lifetime gender gap has kept overall lifetime inequality virtually flat. The increase within gender groups is largely attributed to an increase in inequality at young ages, and partial life-cycle income data for younger cohorts indicate that the increase in inequality is likely to continue. Overall, our findings point to the substantial changes in labor market outcomes for younger workers as a critical driver of trends in both the level and inequality of lifetime income over the past 50 years." (Author's abstract, IAB-Doku) ((en))
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Literaturhinweis
The rising longevity gap by lifetime earnings: distributional implications for the pension system (2017)
Zitatform
Haan, Peter, Daniel Kemptner & Holger Lüthen (2017): The rising longevity gap by lifetime earnings. Distributional implications for the pension system. (DIW-Diskussionspapiere 1698), Berlin, 49 S.
Abstract
"This study uses German social security records to provide novel evidence about the heterogeneity in life expectancy by lifetime earnings and, additionally, documents the distributional implications of this earnings-related heterogeneity. We find a strong association between lifetime earnings and life expectancy at age 65 and show that the longevity gap is increasing across cohorts. For West German men born 1926-28, the longevity gap between top and bottom decile amounts to about 4 years (about 30%). This gap increases to 7 years (almost 50%) for cohorts 1947-49. We extend our analysis to the household context and show that lifetime earnings are also related to the life expectancy of the spouse. The heterogeneity in life expectancy has sizable and relevant distributional consequences for the pension system: when accounting for heterogeneous life expectancy, we find that the German pension system is regressive despite a strong contributory link. We show that the internal rate of return of the pension system increases with lifetime earnings. Finally, we document an increase of the regressive structure across cohorts, which is consistent with the increasing longevity gap." (Author's abstract, IAB-Doku) ((en))