Documents Universität Basel. Wirtschaftswissenschaftliches Zentrum 3 results

"In this paper we study the impact of environmental pollution in an endogenous growth model that allows for structural change. The model is based on doublydiff erentiated R&D where newer, less polluting technologies gradually replace older ones. The analysis shows that the presence of environmental externalities stimulates structural change but reduces the growth rate of the economy. Further, comparing the models with and without structural change demonstrates that the latter implies stronger environmental damages and, consequently, a lower growth rate than the rst one. Finally, levying a tax on the polluting output speeds up structural change, thus, reducing environmental pollution and spurring economic growth. This can give new support for the double dividend hypothesis."

"This paper analyses how individual job satisfaction is affected by wage changes. In order to account for potential dynamic effects of wage changes on job satisfaction, we include lead and lag effects of income changes in our analysis. Furthermore, we examine the role of social comparisons, i.e. how an individual's job satisfaction is driven not only by changes in his wages, but also by the size of these changes relative to wage changes within his reference group. Results from an individual fixed effects regression indicate that wage increases have a statistically significant positive effect on job satisfaction. This effect exhibits a dynamic pattern. We observe an anticipation effect of a positive wage change, i.e. individuals are more satisfied with their job one year ahead of the wage increase. Also, we find statistically significant positive, but declining effects on job satisfaction four years after the wage increase, i.e. partial adaptation. We find that an additional increase in job satisfaction is obtained when the individual's wage increase exceeds the average wage increase for his reference group. However, this effect does not appear to persist, as it is only statistically significant in the first period after the wage change."