Fabian Krüger

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In line with earlier literature, I document a U-shaped relationship between age and wage dispersion in the U.S.. To explain this outcome, I consider a life-cycle model of labor market search with strategic wage bargaining, heterogeneous firm-worker matches, and endogenous search effort. Three factors shape the age-inequality profile of wages in the model(More)
The pricing kernel puzzle concerns the locally increasing empirical pricing kernel, which is inconsistent with a risk-averse representative investor in a single period, single state variable setting. Some recent papers worry that the puzzle is caused simply by the mismatch of backward looking subjective and forward looking risk-neutral distributions of(More)
Acknowledgement This doctoral dissertation has been written at the Department of Economics at the University of Konstanz. I am indebted to my supervisor Prof. Dr. Winfried Pohlmeier for his continuous support of my work and his professional advice and guidance. I wish to express my thanks to Prof. Dr. Axel Kind who agreed to serve as the second supervisor(More)
We analyze the optimal design of income transfer programs with a special focus on participation taxes and the marginal tax rates in the phase-out region. The analytical framework incorporates labor supply responses along the intensive and extensive margin, where the latter is due to a minimum hours constraint. All results are expressed in reduced form, i.e.(More)
Acknowledgements During the time of writing this thesis I received support and encouragement from many people. Without their help the completion of this work would not have been possible. Therefore, I would like to express my sincere gratitude to everyone who helped and guided me in this journey. First I would like to thank my supervisor Prof. Ralf(More)
Proofs subject to correction. Not to be reproduced without permission. Contributions to the discussion must not exceed 400 words. Contributions longer than 400 words will be cut by the editor. Summary. In the practice of point prediction, it is desirable that forecasters receive a directive in the form of a statistical functional. For example, forecasters(More)
  • Sektion Politik, Recht, Wirtschaft, Fachbereich Wirtschaftswissenschaften, Volker Hahn, Georgi Kocharkov +2 others
  • 2014
Acknowledgements While preparing this dissertation I have received support from many people. First and foremost, I want to thank my thesis advisor Professor Leo Kaas for his academic guidance during my doctoral studies. I am very grateful for his generous support at all stages of my research and his invaluable advice. I am also very thankful to my second(More)
The total social benefits of college education exceed the private benefits because the government receives a share of the monetary returns in the form of income taxes. We study the policy implications of this fiscal externality in an optimal dynamic tax framework. Using a variational approach we derive a formula for the revenue effect of an increase in(More)
Acknowledgement The completion of this thesis would not have been possible without the help and support of many people, to whom I would like to express my sincere gratitude with these first words. First of all, I would like to thank my supervisor, Prof. Dr. Winfried Pohlmeier for his supervision, advice and help at any time in every aspect of my study. I(More)
We propose a simple way to improve the efficiency of the average treatment effect on propensity score based estimators. As the weights become arbitrarily large for the propensity scores being close to one or zero, we propose to shrink the propensity scores away from these boundaries. Using a comprehensive Monte Carlo study we show that this simple method(More)