@article{CaliendoGoethnerWeissenberger2019, author = {Caliendo, Marco and Goethner, Maximilian and Weißenberger, Martin}, title = {Entrepreneurial persistence beyond survival: Measurement and determinants}, series = {Journal of Small Business Management}, volume = {58}, journal = {Journal of Small Business Management}, number = {3}, publisher = {Taylor \& Francis}, address = {London}, pages = {32}, year = {2019}, abstract = {Entrepreneurial persistence is demonstrated by an entrepreneur's continued positive maintenance of entrepreneurial motivation and constantly renewed active engagement in a new business venture despite counterforces or enticing alternatives. It thus is a crucial factor for entrepreneurs when pursuing and exploiting their business opportunities and in realizing potential economic gains and benefits. Using rich data on a representative sample of German business founders, we investigated the determinants of entrepreneurial persistence. Next to observed survival, we also constructed a hybrid persistence measure capturing the motivational dimension of persistence. We analyzed the influence of individual-level (human capital and personality) and business-related characteristics on both measures as well as their relative importance. We found that the two indicators emphasize different aspects of persistence. For the survival indicator, the predictive power was concentrated in business characteristics and human capital, while for hybrid persistence the dominant factors were business characteristics and personality. Finally, we showed that results were heterogeneous across subgroups. In particular, formerly unemployed founders did not differ in survival chances, but they were more likely to lack a high psychological commitment to their business ventures.}, language = {en} } @article{CaliendoKuennMahlstedt2017, author = {Caliendo, Marco and K{\"u}nn, Steffen and Mahlstedt, Robert}, title = {The return to labor market mobility}, series = {Journal of Public Economics}, volume = {148}, journal = {Journal of Public Economics}, publisher = {Elsevier}, address = {Lausanne}, issn = {0047-2727}, doi = {10.1016/j.jpubeco.2017.02.008}, pages = {136 -- 151}, year = {2017}, abstract = {In many European countries, labor markets are characterized by high regional disparities in terms of unemployment rates on the one hand and low geographical mobility among the unemployed on the other hand. In order to counteract the geographical mismatch of workers, the German active labor market policy offers a subsidy covering moving costs to incentivize unemployed job seekers to search/accept jobs in distant regions. Based on administrative data, this study provides the first empirical evidence on the impact of this subsidy on participants' prospective labor market outcomes. We use an instrumental variable approach to take endogenous selection based on observed and unobserved characteristics into account when estimating causal treatment effects. We find that unemployed job seekers who participate in the subsidy program and move to a distant region receive higher wages and find more stable jobs compared to non-participants. We show that the positive effects are (to a large extent) the consequence of a better job match due to the increased search radius of participants.}, language = {en} } @article{Caliendo2020, author = {Caliendo, Marco}, title = {F{\"u}nf Jahre Mindestlohn}, series = {ifo Schnelldienst}, volume = {73}, journal = {ifo Schnelldienst}, number = {4}, publisher = {Institut f{\"u}r Wirtschaftsforschung}, address = {M{\"u}nchen}, issn = {0018-974X}, pages = {23 -- 28}, year = {2020}, abstract = {Die Einf{\"u}hrung des gesetzlichen Mindestlohns zum 1. Januar 2015 war nach der Agenda 2010 die bedeutendste Arbeitsmarktreform der letzten 20 Jahre. Durch das relativ hohe Eingriffsniveau - etwa 4 Millionen oder 11\% aller Erwerbst{\"a}tigen verdienten vor der Einf{\"u}hrung weniger als die neue Bruttolohnuntergrenze von 8,50 Euro pro Stunde - und die nahezu umfassende G{\"u}ltigkeit, waren Hoffnungen und Bef{\"u}rchtungen gleichermaßen groß und viele Fragen zu den Wirkungen offen. Heute, f{\"u}nf Jahre nach der Einf{\"u}hrung und basierend auf zahlreichen, breit angelegten Evaluationsstudien, ist es Zeit f{\"u}r eine Zwischenbilanz. Die L{\"o}hne im unteren Bereich sind gestiegen, ohne dass es zu einem gr{\"o}ßeren Abbau an Besch{\"a}ftigung gekommen ist. Gleichzeitig hat der Mindestlohn aber nicht die Zahl der Transferbezieher verringert. Auch das Armutsrisiko hat nicht abgenommen. Der Mindestlohn ist in vielerlei Hinsicht nicht existenzsichernd und wird auch nicht vollumf{\"a}nglich durchgesetzt. Insofern wurde f{\"u}nf Jahre nach der Einf{\"u}hrung zwar einiges erreicht, wichtige Ziele aber auch verfehlt. Die Politik ist gefordert.}, language = {de} } @article{CaliendoCobbClarkObstetal.2022, author = {Caliendo, Marco and Cobb-Clark, Deborah A. and Obst, Cosima and Uhlendorff, Arne}, title = {Risk preferences and training investments}, series = {Journal of economic behavior \& organization}, volume = {205}, journal = {Journal of economic behavior \& organization}, publisher = {Elsevier}, address = {Amsterdam}, issn = {0167-2681}, doi = {10.1016/j.jebo.2022.11.024}, pages = {668 -- 686}, year = {2022}, abstract = {We analyze workers' risk preferences and training investments. Our conceptual framework differentiates between the investment risk and insurance mechanisms underpinning training decisions. Investment risk leads risk-averse workers to train less; they undertake more training if it insures them against future losses. We use the German Socio-Economic Panel (SOEP) to demonstrate that risk affinity is associated with more training, implying that, on average, investment risks dominate the insurance benefits of training. Crucially, this relationship is evident only for general training; there is no relationship between risk attitudes and specific training. Thus, consistent with our conceptual framework, risk preferences matter more when skills are transferable - and workers have a vested interest in training outcomes - than when they are not. Finally, we provide evidence that the insurance benefits of training are concentrated among workers with uncertain employment relationships or limited access to public insurance schemes.}, language = {en} } @article{CaliendoCobbClarkPfeiferetal.2023, author = {Caliendo, Marco and Cobb-Clark, Deborah A. and Pfeifer, Harald and Uhlendorff, Arne and Wehner, Caroline}, title = {Managers' risk preferences and firm training investments}, series = {European economic review}, journal = {European economic review}, publisher = {Elsevier}, address = {Amsterdam}, issn = {0014-2921}, doi = {10.1016/j.euroecorev.2023.104616}, pages = {36}, year = {2023}, abstract = {This study analyses the impact of managers' risk preferences on their training allocation decisions. We begin by providing nationally representative evidence that managers' risk-aversion is negatively correlated with the likelihood that their firms engage in any worker training. Using a novel vignette study, we then demonstrate that risk-tolerant and risk-averse decision makers have significantly different training preferences. Risk aversion results in increased sensitivity to turnover risk. Managers who are risk-averse offer less general training and are more reluctant to train workers with a history of job mobility. Adopting a weighting approach to flexibly control for observed differences in the characteristics of risk-averse and risk-tolerant managers, we show that our findings cannot be explained by heterogeneity in either managers' observed characteristics or the type of firms where they work. All managers, irrespective of their risk preferences, are sensitive to the investment risk associated with training, avoiding training that is more costly or that targets those with less occupational expertise or nearing retirement. This provides suggestive evidence that the risks of training are primarily due to the risk that trained workers will leave the firm (turnover risk) rather than the risk that the benefits of training do not outweigh the costs (investment risk).}, language = {en} } @article{CaliendoTatsiramosUhlendorff2013, author = {Caliendo, Marco and Tatsiramos, Konstantinos and Uhlendorff, Arne}, title = {Benefit duration, unemployment duration and job match quality aregression-discontinuity approach}, series = {Journal of applied econometrics}, volume = {28}, journal = {Journal of applied econometrics}, number = {4}, publisher = {Wiley-Blackwell}, address = {Hoboken}, issn = {0883-7252}, doi = {10.1002/jae.2293}, pages = {604 -- 627}, year = {2013}, abstract = {We use a sharp discontinuity in the maximum duration of benefit entitlement to identify the effect of extended benefit duration on unemployment duration and post-unemployment outcomes (employment stability and re-employment wages). We address dynamic selection, which may arise even under an initially random assignment to treatment, estimating a bivariate discrete-time hazard model jointly with a wage equation and correlated unobservables. Owing to the non-stationarity of job search behavior, we find heterogeneous effects of extended benefit duration on the re-employment hazard and on job match quality. Our results suggest that the unemployed who find a job close to and after benefit exhaustion experience less stable employment patterns and receive lower re-employment wages compared to their counterparts who receive extended benefits and exit unemployment in the same period. These results are found to be significant for men but not for women.}, language = {en} } @article{CaliendoKuennUhlendorff2016, author = {Caliendo, Marco and K{\"u}nn, Steffen and Uhlendorff, Arne}, title = {Earnings exemptions for unemployed workers: The relationship between marginal employment, unemployment duration and job quality}, series = {Labour economics : an international journal}, volume = {42}, journal = {Labour economics : an international journal}, publisher = {Elsevier}, address = {Amsterdam}, issn = {0927-5371}, doi = {10.1016/j.labeco.2016.07.003}, pages = {177 -- 193}, year = {2016}, abstract = {In some countries including Germany unemployed workers can increase their income by working a few hours per week. The intention is to keep unemployed job seekers attached to the labour market and to increase their job-finding probabilities. To analyze the unemployment dynamics of job seekers with and without marginal employment, we consider an inflow sample into unemployment and estimate multivariate duration models. While we do not find any significant impact on the job finding probability in a model with homogeneous effects, models allowing for time-varying coefficients indicate a decreased job finding probability of marginal employment at the beginning of the unemployment spell and an increased job finding probability for the long-term unemployed. Our results suggest that job seekers with marginal employment find more stable post-unemployment jobs, and we find some evidence that the relationship between marginal employment and wages and employment stability varies with respect to skill levels, sector and labor market tightness. (C) 2016 Elsevier B.V. All rights reserved.}, language = {en} } @article{CaliendoCobbClarkUhlendorff2015, author = {Caliendo, Marco and Cobb-Clark, Deborah A. and Uhlendorff, Arne}, title = {Locus of control and job search strategies}, series = {The review of economics and statistics}, volume = {97}, journal = {The review of economics and statistics}, number = {1}, publisher = {MIT Press}, address = {Cambridge}, issn = {0034-6535}, doi = {10.1162/REST_a_00459}, pages = {88 -- 103}, year = {2015}, abstract = {Standard job search theory assumes that unemployed individuals have perfect information about the effect of their search effort on the job offer arrival rate. We present an alternative model that assumes that each individual has a subjective belief about the impact of her search effort on the job arrival. These beliefs depend in part on an individual's locus of control. We estimate the impact of locus of control on job search behavior using a data set of newly unemployed individuals in Germany. Consistent with our theoretical predictions, we find evidence that individuals with an internal locus of control search more and that individuals who believe that their future outcomes are determined by external factors have lower reservation wages.}, language = {en} } @article{CaliendoCobbClarkHenneckeetal.2019, author = {Caliendo, Marco and Cobb-Clark, Deborah A. and Hennecke, Juliane and Uhlendorff, Arne}, title = {Locus of control and internal migration}, series = {Regional science and urban economics}, volume = {79}, journal = {Regional science and urban economics}, publisher = {Elsevier}, address = {Amsterdam}, issn = {0166-0462}, doi = {10.1016/j.regsciurbeco.2019.103468}, pages = {19}, year = {2019}, abstract = {We model migration across domestic labor markets (internal migration) as the outcome of a job search process in which job seekers form subjective beliefs about the return search effort that are related to their locus of control. Job seekers with an internal locus of control are predicted to search across larger geographic areas and migrate more frequently as a result. We empirically test the relationship between locus of control and the propensity to migrate using data from the German Socio-Economic Panel (SOEP). We find that not only do individuals with an internal locus of control express more willingness to migrate, they do in fact also migrate more often.}, language = {en} } @article{CaliendoLee2013, author = {Caliendo, Marco and Lee, Wang-Sheng}, title = {Fat chance! - Obesity and the transition from unemployment to employment}, series = {Economics and human biology}, volume = {11}, journal = {Economics and human biology}, number = {2}, publisher = {Elsevier}, address = {Amsterdam}, issn = {1570-677X}, doi = {10.1016/j.ehb.2012.02.002}, pages = {121 -- 133}, year = {2013}, abstract = {This paper focuses on estimating the magnitude of any potential weight discrimination by examining whether obese job applicants in Germany get treated or behave differently from non-obese applicants. Based on two waves of rich survey data from the IZA Evaluation dataset, which includes measures that control for education, demographic characteristics, labor market history, psychological factors and health, we estimate differences in job search behavior and labor market outcomes between obese/overweight and normal weight individuals. Unlike other observational studies which are generally based on obese and non-obese individuals who might already be at different points in the job ladder (e.g., household surveys), in our data, individuals are newly unemployed and all start from the same point. The only subgroup we find in our data experiencing any possible form of negative labor market outcomes is obese women. Despite making more job applications and engaging more in job training programs, we find some indications that they experienced worse (or at best similar) employment outcomes than normal weight women. Obese women who found a job also had significantly lower wages than normal weight women.}, language = {en} }