There is an established tradition in soccer society, for both soccer fans and club managers to value forwards more than defensive players. However, the soccer rules imply an equally important role of goals scored and goals conceded in a team win. This paper employs these facts to formulate the research hypothesis of undervalued defensive, compared to offensive actions, by professional soccer clubs, known as Moneyball phenomenon in sports economics literature. To test our hypothesis, we use two separate data sets at team and player level (1,224 and 776 observations correspondingly) from two seasons (2017-2019) of the German Bundesliga. We estimate the two groups of models with a dependent variable being, correspondingly, an indicator of win and a market value. We keep the set of controls as similar as possible to make the results of the two groups of models comparable with each other, in terms of a relative contribution of offensive and defensive actions. Offensive actions are measured by shots and key passes, while tackles, interceptions and clearances stay for defensive actions variables. All the key variables are normalized, and the resulting estimates demonstrate both “absolute” and “relative” Moneyball in offense vs defense in different model specifications. This is the first introduction of a term and method of a “relative” Moneyball, to our knowledge. In addition, our results show that there is room for improvement for Bundesliga clubs’ cost of win efficiency, in redistributing funds from offense to defense, at least to some extent
{"title":"Moneyball in Offensive vs Defensive Actions in Soccer","authors":"I. Zaytseva, D. Shaposhnikov","doi":"10.2139/ssrn.3538206","DOIUrl":"https://doi.org/10.2139/ssrn.3538206","url":null,"abstract":"There is an established tradition in soccer society, for both soccer fans and club managers to value forwards more than defensive players. However, the soccer rules imply an equally important role of goals scored and goals conceded in a team win. This paper employs these facts to formulate the research hypothesis of undervalued defensive, compared to offensive actions, by professional soccer clubs, known as Moneyball phenomenon in sports economics literature. To test our hypothesis, we use two separate data sets at team and player level (1,224 and 776 observations correspondingly) from two seasons (2017-2019) of the German Bundesliga. We estimate the two groups of models with a dependent variable being, correspondingly, an indicator of win and a market value. We keep the set of controls as similar as possible to make the results of the two groups of models comparable with each other, in terms of a relative contribution of offensive and defensive actions. Offensive actions are measured by shots and key passes, while tackles, interceptions and clearances stay for defensive actions variables. All the key variables are normalized, and the resulting estimates demonstrate both “absolute” and “relative” Moneyball in offense vs defense in different model specifications. This is the first introduction of a term and method of a “relative” Moneyball, to our knowledge. In addition, our results show that there is room for improvement for Bundesliga clubs’ cost of win efficiency, in redistributing funds from offense to defense, at least to some extent","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125829627","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper extends the empirical stock-flow consistent (SFC) literature through the introduction of distributional features and labor market institutions in a Godley-type empirical SFC model. In particular, labor market institutions, such as the minimum wage and the collective bargaining coverage rate, are considered as determinants of the wage share and, in turn, of the distribution of national income. Thereby, the model is able to examine both the medium-term stability conditions of the economy via the evolution of the sectoral financial balances and the implications of functional income distribution on the growth prospects of the economy at hand. The model is then applied to the Greek economy. The empirical results indicate that the Greek economy has a significant structural competitiveness deficit, while the institutional regime is likely debt-led. The policies implemented in the context of the economic adjustment programs were highly inappropriate, triggering private sector insolvency. A minimum wage increase is projected to have a positive impact on output growth and employment. However, policies that would enhance the productive sector's structural competitiveness are required in order to ensure the growth prospects of the Greek economy.
{"title":"A Labor Market - Augmented Empirical Stock-Flow Consistent Model Applied to the Greek Economy","authors":"Christos Pierros","doi":"10.2139/ssrn.3537218","DOIUrl":"https://doi.org/10.2139/ssrn.3537218","url":null,"abstract":"This paper extends the empirical stock-flow consistent (SFC) literature through the introduction of distributional features and labor market institutions in a Godley-type empirical SFC model. In particular, labor market institutions, such as the minimum wage and the collective bargaining coverage rate, are considered as determinants of the wage share and, in turn, of the distribution of national income. Thereby, the model is able to examine both the medium-term stability conditions of the economy via the evolution of the sectoral financial balances and the implications of functional income distribution on the growth prospects of the economy at hand. The model is then applied to the Greek economy. The empirical results indicate that the Greek economy has a significant structural competitiveness deficit, while the institutional regime is likely debt-led. The policies implemented in the context of the economic adjustment programs were highly inappropriate, triggering private sector insolvency. A minimum wage increase is projected to have a positive impact on output growth and employment. However, policies that would enhance the productive sector's structural competitiveness are required in order to ensure the growth prospects of the Greek economy.","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"216 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133315939","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We analyze the effect of direct labour representation in supervisory boards on the risk of corporate pension plans.We exploit employee representation requirements mandated by German labour law and find that firms with parity employee representation reduce pension plan risk both in terms of funding as well as in terms of investment risk.
{"title":"Employee Representation and the Risk of Corporate Pension Plans","authors":"Nicola Heusel","doi":"10.2139/ssrn.3529278","DOIUrl":"https://doi.org/10.2139/ssrn.3529278","url":null,"abstract":"We analyze the effect of direct labour representation in supervisory boards on the risk of corporate pension plans.We exploit employee representation requirements mandated by German labour law and find that firms with parity employee representation reduce pension plan risk both in terms of funding as well as in terms of investment risk.","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126659277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Gerard J. van den Berg, Gerrit Müller, Iris Kesternich, B. Siflinger
We investigate how negatively reciprocal traits of unemployed individuals interact with "sticks" policies imposing constraints on individual job search effort in the context of the German welfare system. For this we merge survey data of long-term unemployed individuals, containing indicators of reciprocity as a personality trait, to a unique set of register data on all unemployed coached by the same team of caseworkers and their treatments. We find that the combination of a higher negative reciprocity and a stricter regime have a negative interaction effect on search effort exerted by the unemployed. The results are stronger for males than for females. Stricter regimes may therefore drive long-term unemployed males with certain types of social preferences further away from the labor market.
{"title":"Reciprocity and the Interaction between the Unemployed and the Caseworker","authors":"Gerard J. van den Berg, Gerrit Müller, Iris Kesternich, B. Siflinger","doi":"10.2139/ssrn.3510446","DOIUrl":"https://doi.org/10.2139/ssrn.3510446","url":null,"abstract":"We investigate how negatively reciprocal traits of unemployed individuals interact with \"sticks\" policies imposing constraints on individual job search effort in the context of the German welfare system. For this we merge survey data of long-term unemployed individuals, containing indicators of reciprocity as a personality trait, to a unique set of register data on all unemployed coached by the same team of caseworkers and their treatments. We find that the combination of a higher negative reciprocity and a stricter regime have a negative interaction effect on search effort exerted by the unemployed. The results are stronger for males than for females. Stricter regimes may therefore drive long-term unemployed males with certain types of social preferences further away from the labor market.","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124538064","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Following one of the largest displacements in human history, almost eight million forced migrants arrived in West Germany after WWII. We study empirically how the settlement location of migrants affected their economic, social and political integration in West Germany. We first document large differences in integration outcomes across West German counties. We then show that high inflows of migrants and a large agrarian base hampered integration. Religious differences between migrants and natives had no effect on economic integration. Yet, they decreased intermarriage rates and strengthened anti-migrant parties. Based on our estimates, we simulate the regional distribution of migrants that maximizes their labor force participation. Inner-German migration in the 1950s brought the actual distribution closer to its optimum.
{"title":"Settlement Location Shapes Refugee Integration: Evidence from Post-War Germany","authors":"S. Braun, Nadja Dwenger","doi":"10.2139/ssrn.3488168","DOIUrl":"https://doi.org/10.2139/ssrn.3488168","url":null,"abstract":"Following one of the largest displacements in human history, almost eight million forced migrants arrived in West Germany after WWII. We study empirically how the settlement location of migrants affected their economic, social and political integration in West Germany. We first document large differences in integration outcomes across West German counties. We then show that high inflows of migrants and a large agrarian base hampered integration. Religious differences between migrants and natives had no effect on economic integration. Yet, they decreased intermarriage rates and strengthened anti-migrant parties. Based on our estimates, we simulate the regional distribution of migrants that maximizes their labor force participation. Inner-German migration in the 1950s brought the actual distribution closer to its optimum.","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133147319","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Does exposure to mass migration affect economic behavior, attitudes and beliefs of natives in transit countries? In order to answer this question, we use a unique locality-level panel from the 2010 and 2016 rounds of the Life in Transition Survey and data on the main land routes taken by migrants in 18 European countries during the refugee crisis in 2015. To capture the exogenous variation in natives’ exposure to transit migration, we construct an instrument that is based on the distance of each locality to the optimal routes that minimize travelling time between the main origin and destination cities. We first show that the entrepreneurial activity of natives falls considerably in localities that are more exposed to mass transit migration, compared to those located further away. We then explore the mechanisms and find that our results are likely to be explained by a decrease in the willingness to take risks as well as in the confidence in institutions. We also document an increase in the anti-migrant sentiment while attitudes towards other minorities remained unchanged. We rule out the possibility of out-migration of natives or of trade-related shocks (potentially confounded with the mass-transit migration) affecting our results. Using locality-level luminosity data, we also rule out any effect driven by changes in economic activity. Finally, we find no statistically significant effects on other labor market outcomes, such as unemployment or labor force participation.
{"title":"Exposure to Transit Migration, Public Attitudes and Entrepreneurship","authors":"Nicolás Ajzenman, C. Aksoy, S. Guriev","doi":"10.2139/ssrn.3570378","DOIUrl":"https://doi.org/10.2139/ssrn.3570378","url":null,"abstract":"Does exposure to mass migration affect economic behavior, attitudes and beliefs of natives in transit countries? In order to answer this question, we use a unique locality-level panel from the 2010 and 2016 rounds of the Life in Transition Survey and data on the main land routes taken by migrants in 18 European countries during the refugee crisis in 2015. To capture the exogenous variation in natives’ exposure to transit migration, we construct an instrument that is based on the distance of each locality to the optimal routes that minimize travelling time between the main origin and destination cities. We first show that the entrepreneurial activity of natives falls considerably in localities that are more exposed to mass transit migration, compared to those located further away. We then explore the mechanisms and find that our results are likely to be explained by a decrease in the willingness to take risks as well as in the confidence in institutions. We also document an increase in the anti-migrant sentiment while attitudes towards other minorities remained unchanged. We rule out the possibility of out-migration of natives or of trade-related shocks (potentially confounded with the mass-transit migration) affecting our results. Using locality-level luminosity data, we also rule out any effect driven by changes in economic activity. Finally, we find no statistically significant effects on other labor market outcomes, such as unemployment or labor force participation.","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117239713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper we study the effects of Switzerland implementing the Schengen agreement on cross-border commuting from regions of neighbouring countries. As vehicles are allowed to cross borders without stopping and residents in border areas are granted freedom to cross borders away from fixed checkpoints, commuting costs are severely reduced. Using data from the European Labour Force Survey, we estimate that the individual probability to cross-border commute to Switzerland in response to this policy has increased among inter-regional commuters in the range between 3 and 6 percentage points, according to different model specifications. Our result is particularly important due the meaningful policy implications, in a time in which the Schengen agreement is under scrutiny and at risk of termination.
{"title":"Does the Implementation of the Schengen Agreement Boost Cross-Border Commuting? Evidence from Switzerland","authors":"A. Parenti, C. Tealdi","doi":"10.2139/ssrn.3488181","DOIUrl":"https://doi.org/10.2139/ssrn.3488181","url":null,"abstract":"In this paper we study the effects of Switzerland implementing the Schengen agreement on cross-border commuting from regions of neighbouring countries. As vehicles are allowed to cross borders without stopping and residents in border areas are granted freedom to cross borders away from fixed checkpoints, commuting costs are severely reduced. Using data from the European Labour Force Survey, we estimate that the individual probability to cross-border commute to Switzerland in response to this policy has increased among inter-regional commuters in the range between 3 and 6 percentage points, according to different model specifications. Our result is particularly important due the meaningful policy implications, in a time in which the Schengen agreement is under scrutiny and at risk of termination.","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127854430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Using procurement auctions and register data, we find that temporary demand shocks have long-term effects for startups. Startups that win a procurement auction have 20% higher sales and employment and are more profitable than startups that narrowly lose an auction, even several years after the contract work has ended. There are no such effects for mature firms. The effects for startups are large: about 50% of the contract value is transmitted into long-term sales. Our analysis suggests learning-by-doing as a plausible mechanism. Overall, our results point to the importance of path dependence in shaping the long-term outcomes of startups.
{"title":"Do Temporary Demand Shocks Have Long-Term Effects for Startups?","authors":"Hans K. Hvide, T. Meling","doi":"10.2139/ssrn.3415559","DOIUrl":"https://doi.org/10.2139/ssrn.3415559","url":null,"abstract":"\u0000 Using procurement auctions and register data, we find that temporary demand shocks have long-term effects for startups. Startups that win a procurement auction have 20% higher sales and employment and are more profitable than startups that narrowly lose an auction, even several years after the contract work has ended. There are no such effects for mature firms. The effects for startups are large: about 50% of the contract value is transmitted into long-term sales. Our analysis suggests learning-by-doing as a plausible mechanism. Overall, our results point to the importance of path dependence in shaping the long-term outcomes of startups.","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127655222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the retirement effects on mental health using a fuzzy regression discontinuity design based on the eligibility age to the state pension in the Netherlands. We find that the mental effects are heterogeneous by gender and marital status. Retirement of partnered men positively affects mental health of both themselves and their partners. Single men retiring experience a drop in mental health. Female retirement has hardly any effect on their own mental health or the mental health of their partners. Part of the effects seem to be driven by loneliness after retirement.
{"title":"The Mental Health Effects of Retirement","authors":"Matteo Picchio, Jan van Ours","doi":"10.2139/ssrn.3490031","DOIUrl":"https://doi.org/10.2139/ssrn.3490031","url":null,"abstract":"We study the retirement effects on mental health using a fuzzy regression discontinuity design based on the eligibility age to the state pension in the Netherlands. We find that the mental effects are heterogeneous by gender and marital status. Retirement of partnered men positively affects mental health of both themselves and their partners. Single men retiring experience a drop in mental health. Female retirement has hardly any effect on their own mental health or the mental health of their partners. Part of the effects seem to be driven by loneliness after retirement.","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124104503","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this contribution I want to discuss an important and very topical EU Law element of the judgment regarding two claimants (Delve and Glynn), backed by BackTo60, versus the UK Department of Work and Pensions (hereafter: Delve and Glynn). Claimants argued inter alia that the UK State Pension Age (SPA)was discriminatory. I want to focus here not if SPA is discriminatory, but whether the (SPA) falls in the ambit of EU law. Didn’t the UK Court (the Court) in Delve and Glynn conclude too easily that SPA falls outside the scope of EU Law? In other words, how can we further sharpen the teeth of EU social protection?
{"title":"Sharpening the Teeth of EU Social Fundamental Rights? The Case of State Pension Age in the UK","authors":"H. V. Meerten","doi":"10.2139/ssrn.3476634","DOIUrl":"https://doi.org/10.2139/ssrn.3476634","url":null,"abstract":"In this contribution I want to discuss an important and very topical EU Law element of the judgment regarding two claimants (Delve and Glynn), backed by BackTo60, versus the UK Department of Work and Pensions (hereafter: Delve and Glynn). Claimants argued inter alia that the UK State Pension Age (SPA)was discriminatory. \u0000 \u0000I want to focus here not if SPA is discriminatory, but whether the (SPA) falls in the ambit of EU law. Didn’t the UK Court (the Court) in Delve and Glynn conclude too easily that SPA falls outside the scope of EU Law? In other words, how can we further sharpen the teeth of EU social protection?","PeriodicalId":206501,"journal":{"name":"European Economics: Labor & Social Conditions eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130194221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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