@techreport{CaliendoMahlstedtvandenBergetal.2020,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Mahlstedt, Robert and van den Berg, Gerard J. and Vikstr{\"o}m, Johan},
  title     = {Side Effects of Labor Market Policies},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {22},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-47883},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-478839},
  pages     = {33},
  year      = {2020},
  abstract  = {Labor market policy tools such as training and sanctions are commonly used to help bring workers back to work. By analogy to medical treatments, the individual exposure to these tools may have side effects. We study effects on health using individual-level population registers on labor market events outcomes, drug prescriptions and sickness absence, comparing outcomes before and after exposure to training and sanctions. We find that training improves cardiovascular and mental health and lowers sickness absence. The results suggest that this is not due to improved employment prospects but rather to instantaneous features of participation such as, perhaps, the adoption of a more rigorous daily routine. Unemployment benefits sanctions cause a short-run deterioration of mental health, possibly due higher stress levels, but this tapers out quickly.},
  language  = {en}
}
@article{CaliendoKuennWeissenberger2020,
  author    = {Caliendo, Marco and K{\"u}nn, Steffen and Weissenberger, Martin},
  title     = {Catching up or lagging behind?},
  series = {Research policy : policy, management and economic studies of science, technology and innovation},
  volume    = {49},
  journal   = {Research policy : policy, management and economic studies of science, technology and innovation},
  number    = {10},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0048-7333},
  doi       = {10.1016/j.respol.2020.104053},
  pages     = {14},
  year      = {2020},
  abstract  = {From an active labor market policy perspective, start-up subsidies for unemployed individuals are very effective in improving long-term labor market outcomes for participants. From a business perspective, however, the assessment of these public programs is less clear since they might attract individuals with low entrepreneurial abilities and produce businesses with low survival rates and little contribution to job creation, economic growth, and innovation. In this paper, we use a rich data set to compare participants of a German start-up subsidy program for unemployed individuals to a group of regular founders who started from non-unemployment and did not receive the subsidy. The data allows us to analyze their business performance up until 40 months after business formation. We find that formerly subsidized founders lag behind not only in survival and job creation, but especially also in innovation activities. The gaps in these business outcomes are relatively constant or even widening over time. Hence, we do not see any indication of catching up in the longer run. While the gap in survival can be entirely explained by initial differences in observable start-up characteristics, the gap in business development remains and seems to be the result of restricted access to capital as well as differential business strategies and dynamics. Considering these conflicting results for the assessment of the subsidy program from an ALMP and business perspective, policy makers need to carefully weigh the costs and benefits of such a strategy to find the right policy mix.},
  language  = {en}
}
@article{CaliendoHennecke2022,
  author    = {Caliendo, Marco and Hennecke, Juliane},
  title     = {Drinking is different!},
  series = {Empirical economics},
  volume    = {63},
  journal   = {Empirical economics},
  number    = {5},
  publisher = {Springer},
  address   = {Berlin},
  issn      = {0377-7332},
  doi       = {10.1007/s00181-022-02219-3},
  pages     = {2785 -- 2815},
  year      = {2022},
  abstract  = {Locus of control (LOC) measures how much an individual believes in the causal relationship between her own actions and her life's outcomes. While earlier literature has shown that an increasing internal LOC is associated with increased health-conscious behavior in domains such as smoking, exercise or diets, we find that drinking seems to be different. Using very informative German panel data, we extend and generalize previous findings and find a significant positive association between having an internal LOC and the probability of occasional and regular drinking for men and women. An increase in an individual's LOC by one standard deviation increases the probability of occasional or regular drinking on average by 3.4\% for men and 6.9\% for women. Using a decomposition method, we show that roughly a quarter of this association can be explained by differences in the social activities between internal and external individuals.},
  language  = {en}
}
@article{CaliendoFedoretsPreussetal.2018,
  author    = {Caliendo, Marco and Fedorets, Alexandra and Preuss, Malte and Schr{\"o}der, Carsten and Wittbrodt, Linda},
  title     = {The short-run employment effects of the German minimum wage reform},
  series = {Labour economics : an international journal},
  volume    = {53},
  journal   = {Labour economics : an international journal},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0927-5371},
  doi       = {10.1016/j.labeco.2018.07.002},
  pages     = {46 -- 62},
  year      = {2018},
  abstract  = {We assess the short-term employment effects of the introduction of a national statutory minimum wage in Germany in 2015. For this purpose, we exploit variation in the regional treatment intensity, assuming that the stronger a minimum wage 'bites' into the regional wage distribution, the stronger the regional labour market will be affected. In contrast to previous studies, we construct two regional bite indicators based upon detailed individual wage data from the Structure of Earnings Survey (SES) 2014 and combine it with administrative information on regional employment. Moreover, using the Socio-Economic Panel (SOEP), we are able to affirm the absence of anticipation effects and verify the assumption of a common trend in wages before the reform. In sum, we find only moderate negative effects on overall employment of about 140,000 (0.4\%) jobs, which are mainly driven by a sharp decline of marginal employment ('mini-jobs'), while we do not find pronounced significant effects for regular employment in most specifications. Our results are robust to a variety of sensitivity tests.},
  language  = {en}
}
@article{BurauelCaliendoGrabkaetal.2020,
  author    = {Burauel, Patrick F. and Caliendo, Marco and Grabka, Markus M. and Obst, Cosima and Preuss, Malte and Schr{\"o}der, Carsten and Shupe, Cortnie},
  title     = {The impact of the German minimum wage on individual wages and monthly warnings},
  series = {Jahrb{\"u}cher f{\"u}r National{\"o}konomie und Statistik = Journal of economics and statistics},
  volume    = {240},
  journal   = {Jahrb{\"u}cher f{\"u}r National{\"o}konomie und Statistik = Journal of economics and statistics},
  number    = {2-3},
  publisher = {De Gruyter},
  address   = {Berlin},
  issn      = {0021-4027},
  doi       = {10.1515/jbnst-2018-0077},
  pages     = {201 -- 231},
  year      = {2020},
  abstract  = {This paper evaluates the short-run impact of the introduction of a statutory minimum wage in Germany on the hourly wages and monthly earnings of workers targeted by the reform. We first provide detailed descriptive evidence of changes to the wage structure in particular at the bottom of the distribution and distinguish between trends for regularly employed and marginally employed workers. In the causal analysis, we then employ a differential trend adjusted difference-in-differences (DTADD) strategy to identify the extent to which these changes in wages and earnings can be attributed to the minimum wage introduction. We find that the minimum wage introduction can account for hourly wage growth in the order of roughly 6.5 \% or (sic)0.45/hour and an increase in monthly earnings of 6.6 \% or (sic)53/month. Despite finding wage growth at the bottom of the distribution, the paper documents widespread non-compliance with the mandated wage floor of (sic)8.50/hour.},
  language  = {en}
}
@article{CaliendoWittbrodt2022,
  author    = {Caliendo, Marco and Wittbrodt, Linda},
  title     = {Did the minimum wage reduce the gender wage gap in Germany?},
  series = {Labour economics},
  volume    = {78},
  journal   = {Labour economics},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {09275371},
  doi       = {10.1016/j.labeco.2022.102228},
  pages     = {11},
  year      = {2022},
  abstract  = {In many countries, women are over-represented among low-wage employees, which is why a wage floor could benefit them particularly. Following this notion, we analyse the impact of the German minimum wage introduction in 2015 on the gender wage gap. Germany poses an interesting case study in this context, since it has a rather high gender wage gap and set the minimum wage at a relatively high level, affecting more than four million employees. Based on individual data from the Structure of Earnings Survey, containing information for over one million employees working in 60,000 firms, we use a difference-in-difference framework that exploits regional differences in the bite of the minimum wage. We find a significant negative effect of the minimum wage on the regional gender wage gap. Between 2014 and 2018, the gap at the 10th percentile of the wage distribution was reduced by 4.6 percentage points (or 32\%) in regions that were strongly affected by the minimum wage compared to less affected regions. For the gap at the 25th percentile, the effect still amounted to 18\%, while for the mean it was smaller (11\%) and not particularly robust. We thus find that the minimum wage can indeed reduce gender wage disparities. While the effect is highest for the low-paid, it also reaches up into higher parts of the wage distribution.},
  language  = {en}
}
@techreport{CaliendoKritikosStier2022,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Kritikos, Alexander and Stier, Claudia},
  title     = {The Influence of Start-up Motivation on Entrepreneurial Performance},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {59},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-57115},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-571152},
  pages     = {43},
  year      = {2022},
  abstract  = {Predicting entrepreneurial development based on individual and business-related characteristics is a key objective of entrepreneurship research. In this context, we investigate whether the motives of becoming an entrepreneur influence the subsequent entrepreneurial development. In our analysis, we examine a broad range of business outcomes including survival and income, as well as job creation, expansion and innovation activities for up to 40 months after business formation. Using self-determination theory as conceptual background, we aggregate the start-up motives into a continuous motivational index. We show - based on a unique dataset of German start-ups from unemployment and non-unemployment - that the later business performance is better, the higher they score on this index. Effects are particularly strong for growth oriented outcomes like innovation and expansion activities. In a next step, we examine three underlying motivational categories that we term opportunity, career ambition, and necessity. We show that individuals driven by opportunity motives perform better in terms of innovation and business expansion activities, while career ambition is positively associated with survival, income, and the probability of hiring employees. All effects are robust to the inclusion of a large battery of covariates that are proven to be important determinants of entrepreneurial performance.},
  language  = {en}
}
@techreport{CaliendoKritikosRodriguezetal.2023,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Kritikos, Alexander and Rodriguez, Daniel and Stier, Claudia},
  title     = {Self-Efficacy and Entrepreneurial Performance of Start-Ups},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {61},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-57252},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-572527},
  pages     = {41},
  year      = {2023},
  abstract  = {Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and investigate, based on a representative sample of 1,405 German business founders, how the personality characteristic of generalized self-efficacy influences start-up performance as measured by a broad set of business outcomes up to 19 months after business creation. Outcomes include start-up survival and entrepreneurial income, as well as growth-oriented outcomes such as job creation and innovation. We find statistically significant and economically important positive effects of high scores of self-efficacy on start-up survival and entrepreneurial income, which become even stronger when focusing on the growth-oriented outcome of innovation. Furthermore, we observe that generalized self-efficacy is similarly distributed between female and male business founders, with effects being partly stronger for female entrepreneurs. Our findings are important for policy instruments that are meant to support firm growth by facilitating the design of more target-oriented offers for training, coaching, and entrepreneurial incubators.},
  language  = {en}
}
@techreport{CaliendoTuebbicke2021,
  type      = {Working Paper},
  author    = {Caliendo, Marco and T{\"u}bbicke, Stefan},
  title     = {Design and Effectiveness of Start-Up Subsidies},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {30},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-50005},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-500056},
  pages     = {20},
  year      = {2021},
  abstract  = {While a growing body of literature finds positive impacts of Start-Up Subsidies (SUS) on labor market outcomes of participants, little is known about how the design of these programs shapes their effectiveness and hence how to improve policy. As experimental variation in program design is unavailable, we exploit the 2011 reform of the current German SUS program for the unemployed which strengthened case-workers' discretionary power, increased entry requirements and reduced monetary support. We estimate the impact of the reform on the program's effectiveness using samples of participants and non-participants from before and after the reform. To control for time-constant unobserved heterogeneity as well as differential selection patterns based on observable characteristics over time, we combine Difference-in-Differences with inverse probability weighting using covariate balancing propensity scores. Holding participants' observed characteristics as well as macroeconomic conditions constant, the results suggest that the reform was successful in raising employment effects on average. As these findings may be contaminated by changes in selection patterns based on unobserved characteristics, we assess our results using simulation-based sensitivity analyses and find that our estimates are highly robust to changes in unobserved characteristics. Hence, the reform most likely had a positive impact on the effectiveness of the program, suggesting that increasing entry requirements and reducing support in-creased the program's impacts while reducing the cost per participant.},
  language  = {en}
}
@techreport{CaliendoRodriguezGuio2023,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Rodr{\´i}guez Guio, Daniel Felipe},
  title     = {Divergent thinking and post-launch entrepreneurial outcomes},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {68},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-60740},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-607408},
  pages     = {58},
  year      = {2023},
  abstract  = {Divergent thinking is the ability to produce numerous and diverse responses to questions or tasks, and it is used as a predictor of creative achievement. It plays a significant role in the business organization's innovation process and the recognition of new business opportunities. Drawing upon the cumulative process model of creativity in entrepreneurship, we hypothesize that divergent thinking has a lasting effect on post-launch entrepreneurial outcomes related to innovation and growth, but that this relation might not always be linear. Additionally, we hypothesize that domain-specific experience has a moderating role in this relation. We test our hypotheses based on a representative longitudinal sample of 457 German business founders, which we observe up until 40 months after start-up. We find strong relative effects for innovation and growth outcomes. For survival we find conclusive evidence for non-linearities in the effects of divergent thinking. Additionally, we show that such effects are moderated by the type of domain-specific experience that entrepreneurs gathered pre-launch, as it shapes the individual's ideational abilities to fit into more sophisticated strategies regarding entrepreneurial creative achievement. Our findings have relevant policy implications in characterizing and identifying business start-ups with growth and innovation potential, allowing a more efficient allocation of public and private funds.},
  language  = {en}
}
@techreport{CaliendoCobbClarkSilvaGoncalvesetal.2023,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Cobb-Clark, Deborah A. and Silva-Goncalves, Juliana and Uhlendorff, Arne},
  title     = {Locus of control and the preference for agency},
  series = {IZA discussion paper},
  volume    = {No. 16061},
  journal   = {IZA discussion paper},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {2365-9793},
  doi       = {10.2139/ssrn.4416820},
  pages     = {49},
  year      = {2023},
  abstract  = {We conduct a laboratory experiment to study how locus of control operates through people's preferences and beliefs to influence their decisions. Using the principal-agent setting of the delegation game, we test four key channels that conceptually link locus of control to decision-making: (i) preference for agency; (ii) optimism and (iii) confidence regarding the return to effort; and (iv) illusion of control. Knowing the return and cost of stated effort, principals either retain or delegate the right to make an investment decision that generates payoffs for themselves and their agents. Extending the game to the context in which the return to stated effort is unknown allows us to explicitly study the relationship between locus of control and beliefs about the return to effort. We find that internal locus of control is linked to the preference for agency, an effect that is driven by women. We find no evidence that locus of control influences optimism and confidence about the return to stated effort, or that it operates through an illusion of control.},
  language  = {en}
}
@article{CaliendoTuebbicke2021,
  author    = {Caliendo, Marco and T{\"u}bbicke, Stefan},
  title     = {Design and effectiveness of start-up subsidies},
  series = {Economic analysis and policy},
  volume    = {70},
  journal   = {Economic analysis and policy},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0313-5926},
  doi       = {10.1016/j.eap.2021.02.015},
  pages     = {333 -- 340},
  year      = {2021},
  abstract  = {While a growing body of literature finds positive impacts of Start-Up Subsidies (SUS) on labor market outcomes of participants, little is known about how the design of these programs shapes their effectiveness and hence how to improve policy. As experimental variation in program design is unavailable, we exploit the 2011 reform of the current German SUS program for the unemployed which strengthened caseworkers' discretionary power, increased entry requirements and reduced monetary support. We estimate the impact of the reform on the program's effectiveness using samples of participants and non-participants from before and after the reform. To control for time-constant unobserved heterogeneity as well as differential selection patterns based on observable characteristics over time, we combine Difference-in-Differences with inverse probability weighting using covariate balancing propensity scores. Holding participants' observed characteristics as well as macroeconomic conditions constant, the results suggest that the reform was successful in raising employment effects on average. As these findings may be contaminated by changes in selection patterns based on unobserved characteristics, we assess our results using simulation-based sensitivity analyses and find that our estimates are highly robust to changes in unobserved characteristics. Hence, the reform most likely had a positive impact on the effectiveness of the program, suggesting that increasing entry requirements and reducing support increased the program's impacts while reducing the cost per participant. (C) 2021 Economic Society of Australia, Queensland. Published by Elsevier B.V. All rights reserved.},
  language  = {en}
}
@techreport{CaliendoTuebbicke2019,
  type      = {Working Paper},
  author    = {Caliendo, Marco and T{\"u}bbicke, Stefan},
  title     = {New Evidence on Long-Term Effects of Start-Up Subsidies},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {6},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-42679},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-426798},
  pages     = {41},
  year      = {2019},
  abstract  = {The German start-up subsidy (SUS) program for the unemployed has recently undergone a major make-over, altering its institutional setup, adding an additional layer of selection and leading to ambiguous predictions of the program's effectiveness. Using propensity score matching (PSM) as our main empirical approach, we provide estimates of long-term effects of the post-reform subsidy on individual employment prospects and labor market earnings up to 40 months after entering the program. Our results suggest large and persistent long-term effects of the subsidy on employment probabilities and net earned income. These effects are larger than what was estimated for the pre-reform program. Extensive sensitivity analyses within the standard PSM framework reveal that the results are robust to different choices regarding the implementation of the weighting procedure and also with respect to deviations from the conditional independence assumption. As a further assessment of the results' sensitivity, we go beyond the standard selection-on-observables approach and employ an instrumental variable setup using regional variation in the likelihood of receiving treatment. Here, we exploit the fact that the reform increased the discretionary power of local employment agencies in allocating active labor market policy funds, allowing us to obtain a measure of local preferences for SUS as the program of choice. The results based on this approach give rise to similar estimates. Thus, our results indicating that SUS are still an effective active labor market program after the reform do not appear to be driven by "hidden bias".},
  language  = {en}
}
@article{CaliendoTuebbicke2020,
  author    = {Caliendo, Marco and T{\"u}bbicke, Stefan},
  title     = {Do start-up subsidies for the unemployed affect participants' well-being?},
  series = {Evaluation review},
  volume    = {46},
  journal   = {Evaluation review},
  number    = {5},
  publisher = {Sage Publications},
  address   = {Thousand Oaks},
  issn      = {1552-3926},
  doi       = {10.1177/0193841X20927237},
  pages     = {517 -- 554},
  year      = {2020},
  abstract  = {Background: The literature on start-up subsidies (SUS) for the unemployed finds positive effects on objective outcome measures such as employment or income. However, little is known about effects on subjective well-being of participants. Knowledge about this is especially important because subsidizing the transition into self-employment may have unintended adverse effects on participants' well-being due to its risky nature and lower social security protection, especially in the long run. Objective: We study the long-term effects of SUS on subjective outcome indicators of well-being, as measured by the participants' satisfaction in different domains. This extends previous analyses of the current German SUS program ("Gr{\"u}ndungszuschuss") that focused on objective outcomes—such as employment and income—and allows us to make a more complete judgment about the overall effects of SUS at the individual level. Research design: Having access to linked administrative-survey data providing us with rich information on pretreatment characteristics, we base our analysis on the conditional independence assumption and use propensity score matching to estimate causal effects within the potential outcomes framework. We perform several sensitivity analyses to inspect the robustness of our findings. Results: We find long-term positive effects on job satisfaction but negative effects on individuals' satisfaction with their social security situation. Supplementary findings suggest that the negative effect on satisfaction with social security may be driven by negative effects on unemployment and retirement insurance coverage. Our heterogeneity analysis reveals substantial variation in effects across gender, age groups, and skill levels. Estimates are highly robust.},
  language  = {en}
}
@article{CaliendoTuebbicke2019,
  author    = {Caliendo, Marco and T{\"u}bbicke, Stefan},
  title     = {New evidence on long-term effects of start-up subsidies},
  series = {Empirical economics},
  volume    = {59},
  journal   = {Empirical economics},
  number    = {4},
  publisher = {Physica-Verlag},
  address   = {Heidelberg},
  issn      = {0377-7332},
  doi       = {10.1007/s00181-019-01701-9},
  pages     = {1605 -- 1631},
  year      = {2019},
  abstract  = {The German start-up subsidy (SUS) program for the unemployed has recently undergone a major makeover, altering its institutional setup, adding an additional layer of selection and leading to ambiguous predictions of the program's effectiveness. Using propensity score matching (PSM) as our main empirical approach, we provide estimates of long-term effects of the post-reform subsidy on individual employment prospects and labor market earnings up to 40 months after entering the program. Our results suggest large and persistent long-term effects of the subsidy on employment probabilities and net earned income. These effects are larger than what was estimated for the pre-reform program. Extensive sensitivity analyses within the standard PSM framework reveal that the results are robust to different choices regarding the implementation of the weighting procedure and also with respect to deviations from the conditional independence assumption. As a further assessment of the results' sensitivity, we go beyond the standard selection-on-observables approach and employ an instrumental variable setup using regional variation in the likelihood of receiving treatment. Here, we exploit the fact that the reform increased the discretionary power of local employment agencies in allocating active labor market policy funds, allowing us to obtain a measure of local preferences for SUS as the program of choice. The results based on this approach give rise to similar estimates. Thus, our results indicating that SUS are still an effective active labor market program after the reform do not appear to be driven by "hidden bias."},
  language  = {en}
}
@article{CaliendoTuebbicke2021,
  author    = {Caliendo, Marco and T{\"u}bbicke, Stefan},
  title     = {Der Gr{\"u}ndungszuschuss f{\"u}r Arbeitslose nach der Reform 2011},
  series = {IAB-Kurzbericht : aktuelle Analysen aus dem Institut f{\"u}r Arbeitsmarkt- und Berufsforschung},
  volume    = {28},
  journal   = {IAB-Kurzbericht : aktuelle Analysen aus dem Institut f{\"u}r Arbeitsmarkt- und Berufsforschung},
  publisher = {IAB},
  address   = {N{\"u}rnberg},
  issn      = {0942-167X},
  pages     = {8},
  year      = {2021},
  abstract  = {Mit der Reform des Gr{\"u}ndungszuschusses im Jahr 2011 wurden die Rahmenbedingungen der Gr{\"u}ndungsf{\"o}rderung f{\"u}r Arbeitslose im Sozialgesetzbuch III umfassend reformiert und die F{\"o}rderzahlen reduzierten sich drastisch. Insgesamt ist das Arbeitsmarktinstrument weiterhin ein Erfolg: Die meisten Gef{\"o}rderten sind auch knapp 3,5 Jahre nach der Gr{\"u}ndung noch selbstst{\"a}ndig und etwa ein Drittel von ihnen hat mindestens einen Besch{\"a}ftigen. Von denjenigen, die ihre Selbstst{\"a}ndigkeit inzwischen beendet haben, sind die meisten sozialversicherungspflichtig besch{\"a}ftigt. Damit haben Gef{\"o}rderte eine deutlich h{\"o}here Besch{\"a}ftigungsquote als vergleichbare Personen ohne diese F{\"o}rderung. Auch ihre monatlichen Nettoverdienste sowie ihre Jobzufriedenheit sind h{\"o}her. Verbesserungspotenzial gibt es allerdings bei der sozialen Absicherung: Gef{\"o}rderte zahlen seltener in eine Rentenversicherung oder in die Arbeitslosenversicherung ein und sind mit ihrer sozialen Absicherung unzufriedener als vergleichbare Personen.},
  language  = {de}
}
@techreport{SchroederGoeblerGrabkaetal.2020,
  author    = {Schr{\"o}der, Carsten and G{\"o}bler, Konstantin and Grabka, Markus M. and Kolb, Chris and Shupe, Cortnie and Caliendo, Marco and T{\"u}bbicke, Stefan and Priem, Maximilian},
  title     = {Auswirkungen des gesetzlichen Mindestlohns auf Haushaltseinkommen, Konsum- und Sparverhalten},
  publisher = {Deutsche Institut f{\"u}r Wirtschaftsforschung},
  address   = {Berlin},
  pages     = {1 -- 85},
  year      = {2020},
  language  = {de}
}
@techreport{CaliendoTuebbicke2019,
  type      = {Working Paper},
  author    = {Caliendo, Marco and T{\"u}bbicke, Stefan},
  title     = {Do Start-Up Subsidies for the Unemployed Affect Participants' Well-Being?},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {14},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-43746},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-437468},
  pages     = {47},
  year      = {2019},
  abstract  = {We estimate the long-term effects of start-up subsidies (SUS) for the unemployed on subjective outcome indicators of well-being, as measured by the participants' satisfaction in different domains. This extends previous analyses of the current German SUS program ("Gr{\"u}ndungszuschuss") that focused on objective outcomes - such as employment and income - and allows us to make a more complete judgment about the overall effects of SUS at the individual level. This is especially important because subsidizing the transition into self-employment may have unintended adverse effects on participants' well-being due to its risky nature and lower social security protection, especially in the long run. Having access to linked administrative-survey data providing us with rich information on pre-treatment characteristics, we base our analysis on the conditional independence assumption and use propensity score matching to estimate causal effects within the potential outcomes framework. We find long-term positive effects on job satisfaction but negative effects on individuals' satisfaction with their social security situation. Further findings suggest that the negative effect on satisfaction with social security may be driven by negative effects on unemployment and retirement insurance coverage. Our heterogeneity analysis reveals substantial variation in effects across gender, age groups and skill levels. The sensitivity analyses show that these findings are highly robust.},
  language  = {en}
}
@techreport{CaliendoSchroederWittbrodt2019,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Schr{\"o}der, Carsten and Wittbrodt, Linda},
  title     = {The Causal Effects of the Minimum Wage Introduction in Germany},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {1},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-42692},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-426929},
  year      = {2019},
  abstract  = {In 2015, Germany introduced a statutory hourly minimum wage that was not only universally binding but also set at a relatively high level. We discuss the short-run effects of this new minimum wage on a wide set of socio-economic outcomes, such as employment and working hours, earnings and wage inequality, dependent and self-employment, as well as reservation wages and satisfaction. We also discuss difficulties in the implementation of the minimum wage and the measurement of its effects related to non-compliance and suitability of data sources. Two years after the minimum wage introduction, the following conclusions can be drawn: while hourly wages increased for low-wage earners, some small negative employment effects are also identifiable. The effects on aspired goals, such as poverty and inequality reduction, have not materialized in the short run. Instead, a tendency to reduce working hours is found, which alleviates the desired positive impact on monthly income. Additionally, the level of non-compliance was substantial in the short run, thus drawing attention to problems when implementing such a wide-reaching policy.},
  language  = {en}
}
@article{BellmannCaliendoTuebbicke2018,
  author    = {Bellmann, Lutz and Caliendo, Marco and T{\"u}bbicke, Stefan},
  title     = {The post-reform effectiveness of the new German start-up subsidy for the unemployed},
  series = {Labour-England},
  volume    = {32},
  journal   = {Labour-England},
  number    = {3},
  publisher = {Wiley},
  address   = {Hoboken},
  issn      = {1121-7081},
  doi       = {10.1111/labr.12126},
  pages     = {293 -- 319},
  year      = {2018},
  abstract  = {The current German start-up subsidy for unemployed individuals underwent a major reform in 2011 that altered key parameters of the program, leading to ambiguous ex ante predictions on the post-reform effectiveness of the program, making a new evaluation necessary. In our descriptive analysis, we find that participants after the reform differ significantly from pre-reform participants in terms of important characteristics and subsequent labor market performance. Our causal analysis reveals positive and sizable treatment effects on the treated regarding employment and income that are larger effects than what was estimated for the pre-reform program. Potential reasons for this are discussed.},
  language  = {en}
}
@article{CaliendoKritikosRodriguezetal.2023,
  author    = {Caliendo, Marco and Kritikos, Alexander and Rodr{\´i}guez, Daniel and Stier, Claudia},
  title     = {Self-efficacy and entrepreneurial performance of start-ups},
  series = {Small business economics},
  journal   = {Small business economics},
  publisher = {Springer Science},
  address   = {Dordrecht},
  issn      = {0921-898X},
  doi       = {10.1007/s11187-022-00728-0},
  pages     = {25},
  year      = {2023},
  abstract  = {Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and investigate, based on a representative sample of 1,405 German business founders, how the personality characteristic of generalized self-efficacy influences start-up performance as measured by a broad set of business outcomes up to 19 months after business creation. Outcomes include start-up survival and entrepreneurial income, as well as growth-oriented outcomes such as job creation and innovation. We find statistically significant and economically important positive effects of high scores of self-efficacy on start-up survival and entrepreneurial income, which become even stronger when focusing on the growth-oriented outcome of innovation. Furthermore, we observe that generalized self-efficacy is similarly distributed between female and male business founders, with effects being partly stronger for female entrepreneurs. Our findings are important for policy instruments that are meant to support firm growth by facilitating the design of more target-oriented offers for training, coaching, and entrepreneurial incubators.},
  language  = {en}
}
@article{CaliendoGraeberKritikosetal.2022,
  author    = {Caliendo, Marco and Graeber, Daniel and Kritikos, Alexander and Seebauer, Johannes},
  title     = {Pandemic depression},
  series = {Entrepreneurship theory and practice},
  volume    = {47},
  journal   = {Entrepreneurship theory and practice},
  number    = {3},
  publisher = {SAGE Publishing},
  address   = {Thousand Oaks},
  issn      = {1042-2587},
  doi       = {10.1177/10422587221102106},
  pages     = {788 -- 830},
  year      = {2022},
  abstract  = {We investigate the effect of the COVID-19 pandemic on self-employed people's mental health. Using representative longitudinal survey data from Germany, we reveal differential effects by gender: whereas self-employed women experienced a substantial deterioration in their mental health, self-employed men displayed no significant changes up to early 2021. Financial losses are important in explaining these differences. In addition, we find larger mental health responses among self-employed women who were directly affected by government-imposed restrictions and bore an increased childcare burden due to school and daycare closures. We also find that self-employed individuals who are more resilient coped better with the crisis.},
  language  = {en}
}
@article{CaliendoFossenKritikos2021,
  author    = {Caliendo, Marco and Fossen, Frank M. and Kritikos, Alexander},
  title     = {Personality characteristics and the decision to hire},
  series = {Industrial and corporate change},
  volume    = {31},
  journal   = {Industrial and corporate change},
  number    = {3},
  publisher = {Oxford University Press},
  address   = {Oxford},
  issn      = {0960-6491},
  doi       = {10.1093/icc/dtab062},
  pages     = {736 -- 761},
  year      = {2021},
  abstract  = {As the policy debate on entrepreneurship increasingly centers on firm growth in terms of job creation, it is important to understand whether the personality of entrepreneurs drives the first hiring in their firms. Using the German Socio-Economic Panel (SOEP), we analyze to what extent personality traits influence the probability of becoming an employer. The results indicate that personality matters. Risk tolerance unfolds the strongest influence on hiring, shortening the time until entrepreneurs hire their first employee; the effect size of a one-standard-deviation increase in risk tolerance is similar to that of having a university degree. Moreover, individuals who are more open to experience, more conscientious, and more trustful are more likely to hire upon establishing their business.},
  language  = {en}
}
@techreport{CaliendoFossenKritikos2019,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Fossen, Frank M. and Kritikos, Alexander},
  title     = {What Makes an Employer?},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {13},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-43736},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-437360},
  year      = {2019},
  abstract  = {As the policy debate on entrepreneurship increasingly centers on firm growth in terms of job creation, it is important to better understand which variables influence the first hiring decision and which ones influence the subsequent survival as an employer. Using the German Socio-economic Panel (SOEP), we analyze what role individual characteristics of entrepreneurs play in sustainable job creation. While human and social capital variables positively influence the hiring decision and the survival as an employer in the same direction, we show that none of the personality traits affect the two outcomes in the same way. Some traits are only relevant for survival as an employer but do not influence the hiring decision, other traits even unfold a revolving door effect, in the sense that employers tend to fail due to the same characteristics that positively influenced their hiring decision.},
  language  = {en}
}
@article{CaliendoFossenKritikos2010,
  author    = {Caliendo, Marco and Fossen, Frank and Kritikos, Alexander},
  title     = {The impact of risk attitudes on entrepreneurial survival},
  issn      = {0167-2681},
  doi       = {10.1016/j.jebo.2010.02.012},
  year      = {2010},
  abstract  = {Risk attitudes influence the complete life cycle of entrepreneurs. Whereas recent research underpins the theoretical proposition of a positive correlation between risk attitudes and the decision to become self-employed, the effects on survival are not as straightforward. Psychological research posits an inverse U-shaped relationship between risk attitudes and entrepreneurial survival. On the basis of experimentally validated data of the German Socio-Economic Panel (SOEP), we examine the extent to which risk attitudes influence survival rates in self-employment in Germany. The empirical results confirm that persons whose risk attitudes are in the medium range survive significantly longer as entrepreneurs than do persons with particularly low or high risk attitudes.},
  language  = {en}
}
@article{CaliendoFossenKritikos2012,
  author    = {Caliendo, Marco and Fossen, Frank and Kritikos, Alexander},
  title     = {Trust, positive reciprocity, and negative reciprocity Do these traits impact entrepreneurial dynamics?},
  series = {Journal of economic psychology : research in economic psychology and behavioral economics},
  volume    = {33},
  journal   = {Journal of economic psychology : research in economic psychology and behavioral economics},
  number    = {2},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0167-4870},
  doi       = {10.1016/j.joep.2011.01.005},
  pages     = {394 -- 409},
  year      = {2012},
  abstract  = {Experimental evidence reveals that there is a strong willingness to trust and to act in both positively and negatively reciprocal ways. So far it is rarely analyzed whether these variables of social cognition influence everyday decision making behavior. We focus on entrepreneurs who are permanently facing exchange processes in the interplay with investors, sellers, and buyers, as well as needing to trust others and reciprocate with their network. We base our analysis on the German Socio-Economic Panel with its recently introduced questions about trust, positive reciprocity, and negative reciprocity to examine the extent that these variables influence the entrepreneurial decision processes. More specifically, we analyze whether (i) the willingness to trust other people influences the probability of starting a business; (ii) trust, positive reciprocity, and negative reciprocity influence the exit probability of entrepreneurs; and (iii) willingness to trust and to act reciprocally influences the probability of being an entrepreneur versus an employee or a manager. Our findings reveal that, in particular, trust impacts entrepreneurial development. Interestingly, entrepreneurs are more trustful than employees, but much less trustful than managers.},
  language  = {en}
}
@article{CaliendoFossenKritikosetal.2015,
  author    = {Caliendo, Marco and Fossen, Frank M. and Kritikos, Alexander and Wetter, Miriam},
  title     = {The Gender Gap in Entrepreneurship: Not just a Matter of Personality},
  series = {CESifo economic studies : a joint initiative of Ludwig-Maximilians-Universit{\"a}t and Ifo Institute for Economic Research},
  volume    = {61},
  journal   = {CESifo economic studies : a joint initiative of Ludwig-Maximilians-Universit{\"a}t and Ifo Institute for Economic Research},
  number    = {1},
  publisher = {Oxford Univ. Press},
  address   = {Oxford},
  issn      = {1610-241X},
  doi       = {10.1093/cesifo/ifu023},
  pages     = {202 -- 238},
  year      = {2015},
  abstract  = {Why do entrepreneurship rates differ so markedly by gender? Using data from a large representative German household panel, we investigate to what extent personality traits, human capital, and the employment history influence the start-up decision and can explain the gender gap in entrepreneurship. Applying a decomposition analysis, we observe that the higher risk aversion among women explains a large share of the entrepreneurial gender gap. We also find an education effect contributing to the gender difference. In contrast, the Big Five model and the current employment state have effects in the opposite direction, meaning that the gender gap in entrepreneurial entry would be even larger if women had the same scores and the same employment status as men. (JEL codes: L26, J16, D81, J24, M13).},
  language  = {en}
}
@article{CaliendoFossenKritikos2014,
  author    = {Caliendo, Marco and Fossen, Frank and Kritikos, Alexander},
  title     = {Personality characteristics and the decisions to become and stay self-employed},
  series = {Small business economics : an international journal},
  volume    = {42},
  journal   = {Small business economics : an international journal},
  number    = {4},
  publisher = {Springer},
  address   = {Dordrecht},
  issn      = {0921-898X},
  doi       = {10.1007/s11187-013-9514-8},
  pages     = {787 -- 814},
  year      = {2014},
  abstract  = {Based on a large, representative German household panel, we investigate to what extent the personality of individuals influences the entry decision into and the exit decision from self-employment. We reveal that some traits, such as openness to experience, extraversion, and risk tolerance affect entry, but different ones, such as agreeableness or different parameter values of risk tolerance, affect exit from self-employment. Only locus of control has a similar influence on the entry and exit decisions. The explanatory power of all observed traits among all observable variables amounts to 30 \%, with risk tolerance, locus of control, and openness having the highest explanatory power.},
  language  = {en}
}
@unpublished{CaliendoKritikos2012,
  author    = {Caliendo, Marco and Kritikos, Alexander},
  title     = {Searching for the entrepreneurial personality New evidence and avenues for further research},
  series = {Journal of economic psychology : research in economic psychology and behavioral economics},
  volume    = {33},
  journal   = {Journal of economic psychology : research in economic psychology and behavioral economics},
  number    = {2},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0167-4870},
  doi       = {10.1016/j.joep.2011.06.001},
  pages     = {319 -- 324},
  year      = {2012},
  language  = {en}
}
@techreport{CaliendoWittbrodt2021,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Wittbrodt, Linda},
  title     = {Did the Minimum Wage Reduce the Gender Wage Gap in Germany?},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {40},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-53046},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-530464},
  pages     = {26},
  year      = {2021},
  abstract  = {In many countries, women are over-represented among low-wage employees, which is why a wage floor could benefit them particularly. Following this notion, we analyse the impact of the German minimum wage introduction in 2015 on the gender wage gap. Germany poses an interesting case study in this context, since it has a rather high gender wage gap and set the minimum wage at a relatively high level, affecting more than four million employees. Based on individual data from the Structure of Earnings Survey, containing information for over one million employees working in 60,000 firms, we use a difference-in- difference framework that exploits regional differences in the bite of the minimum wage. We find a significant negative effect of the minimum wage on the regional gender wage gap. Between 2014 and 2018, the gap at the 10th percentile of the wage distribution was reduced by 4.6 percentage points (or 32\%) in regions that were strongly affected by the minimum wage compared to less affected regions. For the gap at the 25th percentile, the effect still amounted to -18\%, while for the mean it was smaller (-11\%) and not particularly robust. We thus find that the minimum wage can indeed reduce gender wage disparities. While the effect is highest for the low-paid, it also reaches up into higher parts of the wage distribution.},
  language  = {en}
}
@techreport{CaliendoKuennMahlstedt2022,
  type      = {Working Paper},
  author    = {Caliendo, Marco and K{\"u}nn, Steffen and Mahlstedt, Robert},
  title     = {The Intended and Unintended Effects of Promoting Labor Market Mobility},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-53522},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-535229},
  pages     = {49},
  year      = {2022},
  abstract  = {Subsidizing the geographical mobility of unemployed workers may improve welfare by relaxing their financial constraints and allowing them to find jobs in more prosperous regions. We exploit regional variation in the promotion of mobility programs along administrative borders of German employment agency districts to investigate the causal effect of offering such financial incentives on the job search behavior and labor market integration of unemployed workers. We show that promoting mobility - as intended - causes job seekers to increase their search radius, apply for and accept distant jobs. At the same time, local job search is reduced with adverse consequences for reemployment and earnings. These unintended negative effects are provoked by spatial search frictions. Overall, the unconditional provision of mobility programs harms the welfare of unemployed job seekers.},
  language  = {en}
}
@techreport{CaliendoCobbClarkPfeiferetal.2022,
  type      = {Working Paper},
  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 = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {44},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-53843},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-538439},
  pages     = {45},
  year      = {2022},
  abstract  = {We provide the first estimates of the impact of managers' risk preferences on their training allocation decisions. Our conceptual framework links managers' risk preferences to firms' training decisions through the bonuses they expect to receive. Risk-averse managers are expected to select workers with low turnover risk and invest in specific rather than general training. Empirical evidence supporting these predictions is provided using a novel vignette study embedded in a nationally representative survey of firm managers. 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 significantly less general training and, in some cases, are more reluctant to train workers with a history of job mobility. All managers, irrespective of their risk preferences, are sensitive to the investment risk associated with training, avoiding training that is more costly or targets those with less occupational expertise or nearing retirement. This suggests 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}
}
@techreport{CaliendoGraeberKritikosetal.2022,
  type      = {Working Paper},
  author    = {Caliendo, Marco and Graeber, Daniel and Kritikos, Alexander and Seebauer, Johannes},
  title     = {Pandemic Depression: COVID-19 and the Mental Health of the Self-Employed},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {46},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-54899},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-548999},
  pages     = {65},
  year      = {2022},
  abstract  = {We investigate the effect of the COVID-19 pandemic on self-employed people's mental health. Using representative longitudinal survey data from Germany, we reveal differential effects by gender: whereas self-employed women experienced a substantial deterioration in their mental health, self-employed men displayed no significant changes up to early 2021. Financial losses are important in explaining these differences. In addition, we find larger mental health responses among self-employed women who were directly affected by government-imposed restrictions and bore an increased childcare burden due to school and daycare closures. We also find that self-employed individuals who are more resilient coped better with the crisis.},
  language  = {en}
}
@article{CaliendoKritikosStier2023,
  author    = {Caliendo, Marco and Kritikos, Alexander and Stier, Claudia},
  title     = {The influence of start-up motivation on entrepreneurial performance},
  series = {Small business economics},
  volume    = {61},
  journal   = {Small business economics},
  publisher = {Springer Science+Business Media},
  address   = {Dordrecht},
  issn      = {0921-898X},
  doi       = {10.1007/s11187-022-00722-6},
  pages     = {869 -- 889},
  year      = {2023},
  abstract  = {Predicting entrepreneurial development based on individual and business-related characteristics is a key objective of entrepreneurship research. In this context, we investigate whether the motives of becoming an entrepreneur influence the subsequent entrepreneurial development. In our analysis, we examine a broad range of business outcomes including survival and income, as well as job creation, and expansion and innovation activities for up to 40 months after business formation. Using the self-determination theory as conceptual background, we aggregate the start-up motives into a continuous motivational index. We show - based on a unique dataset of German start-ups from unemployment and non-unemployment - that the later business performance is better, the higher they score on this index. Effects are particularly strong for growth-oriented outcomes like innovation and expansion activities. In a next step, we examine three underlying motivational categories that we term opportunity, career ambition, and necessity. We show that individuals driven by opportunity motives perform better in terms of innovation and business expansion activities, while career ambition is positively associated with survival, income, and the probability of hiring employees. All effects are robust to the inclusion of a large battery of covariates that are proven to be important determinants of entrepreneurial performance.},
  language  = {en}
}
@article{CaliendoCobbClarkSilvaGoncalvesetal.2024,
  author    = {Caliendo, Marco and Cobb-Clark, Deborah A. and Silva-Goncalves, Juliana and Uhlendorff, Arne},
  title     = {Locus of control and the preference for agency},
  series = {European economic review},
  volume    = {165},
  journal   = {European economic review},
  number    = {104737},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0014-2921},
  doi       = {10.1016/j.euroecorev.2024.104737},
  pages     = {24},
  year      = {2024},
  abstract  = {We conduct a laboratory experiment to study how locus of control operates through people's preferences and beliefs to influence their decisions. Using the principal-agent setting of the delegation game, we test four key channels that conceptually link locus of control to decision-making: (i) preference for agency, (ii) optimism and (iii) confidence regarding the return to effort, and (iv) illusion of control. Knowing the return and cost of stated effort, principals either retain or delegate the right to make an investment decision that generates payoffs for themselves and their agents. Extending the game to the context in which the return to stated effort is unknown allows us to explicitly study the relationship between locus of control and beliefs about the return to effort. We find that internal locus of control is linked to the preference for agency, an effect that is driven by women. We find no evidence that locus of control influences optimism and confidence about the return to stated effort, or that it operates through an illusion of control.},
  language  = {en}
}
@article{CaliendoMahlstedtvandenBergetal.2022,
  author    = {Caliendo, Marco and Mahlstedt, Robert and van den Berg, Gerard J. and Vikstr{\"o}m, Johan},
  title     = {Side effects of labor market policies},
  series = {The Scandinavian journal of economics},
  volume    = {125},
  journal   = {The Scandinavian journal of economics},
  number    = {2},
  publisher = {Wiley-Blackwell},
  address   = {Oxford},
  issn      = {0347-0520},
  doi       = {10.1111/sjoe.12514},
  pages     = {339 -- 375},
  year      = {2022},
  abstract  = {Labor market policies, such as training and sanctions, are commonly used to bring workers back to work. By analogy to medical treatments, exposure to these tools can have side effects. We study the effects on health using individual-level population registers on labor market outcomes, drug prescriptions, and sickness absence, comparing outcomes before and after exposure to training and sanctions. Training improves cardiovascular and mental health, and lowers sickness absence. This is likely to be the result of the instantaneous features of participation, such as the adoption of a more rigorous daily routine, rather than improved employment prospects. Benefits sanctions cause a short-run deterioration of mental health.},
  language  = {en}
}