TY - JOUR AB - Individual cognitive functioning declines over time. We seek to understand how adverse physical health shocks in older ages contribute to this development. By use of event-study methods and data from the USA, England, and several countries in Continental Europe, we find evidence that health shocks lead to an immediate and persistent decline in cognitive functioning. This robust finding holds in all regions representing different health insurance systems and seems to be independent of underlying individual demographic characteristics such as sex and age. We also ask whether variables that are susceptible to policy action can reduce the negative consequences of a health shock. Our results suggest that neither compulsory education nor retirement regulations moderate the effects, thus emphasizing the importance for cognitive functioning of maintaining good physical health in old age. AU - Schiele, Valentin AU - Schmitz, Hendrik ID - 35637 JF - European Economic Review TI - Understanding cognitive decline in older ages: The role of health shocks VL - 151 ER - TY - JOUR AB - We propose a new method to estimate and isolate the localization of knowledge spillovers due to the physical presence of a person, using after-application but pre-grant deaths of differently located coinventors of the same patent. The approach estimates the differences in local citations between the deceased and still-living inventors at increasingly distant radii. Patents receive 26 percent fewer citations from within a radius of 20 miles around the deceased, relative to still-living coinventors. Differences attenuate with time and distance, are stronger when still-living coinventors live farther from the deceased, and hold for a subsample of possibly premature deaths. (JEL O31, O33, O34, R32) AU - Balsmeier, Benjamin AU - Fleming, Lee AU - Lück, Sonja ID - 42638 IS - 1 JF - American Economic Review: Insights KW - Management KW - Monitoring KW - Policy and Law KW - Geography KW - Planning and Development SN - 2640-205X TI - Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials VL - 5 ER - TY - GEN AB - We study the effect of education on health (hospital stays, number of diagnosed conditions, self-rated poor health, and obesity) over the life-cycle in Germany, using compulsory schooling reforms as a source of exogenous variation. Our results suggest a positive correlation of health and education which increases over the life-cycle. We do not, however, find any positive local average treatment effects of an additional year of schooling on health or health care utilization for individuals up to age 79. An exception is obesity, where positive effects of schooling start to be visible around age 60 and become very large in age group 75-79. The results in age group 75-79 need to be interpreted with caution, however, due to small sample size and possible problems of attrition. AU - Schmitz, Hendrik AU - Tawiah, Beatrice Baaba ID - 46534 KW - Education KW - health KW - life-cycle effects KW - compulsory schooling TI - Life-cycle health effects of compulsory schooling VL - 1006 ER - TY - GEN AU - Freise, Diana AU - Schiele, Valentin AU - Schmitz, Hendrik ID - 46521 KW - General Earth and Planetary Sciences KW - General Environmental Science SN - 1556-5068 TI - Housing Situations and Local COVID-19 Infection Dynamics – A Case Study With Small-Area Data ER - TY - GEN AB - We study the effect of education on vaccination against COVID-19 and influenza in Germany and Europe. Our identification strategy makes use of changes in compulsory schooling laws and allows to estimate local average treatment effects for individuals between 59 and 91 years of age. We find no significant effect of an additional year of schooling on vaccination status in Germany. Pooling data from Europe, we conclude that schooling increases the likelihood to vaccinate against COVID by an economically negligible effect of one percentage point (zero for influenza). However, we find indications that additional schooling increases fear of side effects from COVID vaccination. AU - Monsees, Daniel AU - Schmitz, Hendrik ID - 46536 KW - COVID KW - influenza KW - vaccination KW - education KW - compulsory schooling TI - The effect of compulsory schooling on vaccination against COVID and Influenza VL - 1011 ER - TY - JOUR AU - Tawiah, Beatrice Baaba ID - 35647 IS - 58 JF - Applied Economics TI - Does education have an impact on patience and risk willingness? VL - 54 ER - TY - JOUR AB - We study the effect of unemployment on cognitive abilities among individuals aged between 50 and 65 in Europe. To this end, we exploit plant closures and use flexible event-study estimations together with an experimentally elicited measure of fluid intelligence, namely word recall. We find that, within a time period of around eight years after the event of unemployment, cognitive abilities only deteriorate marginally — the effects are insignificant both in statistical and economic terms. We do, however, find significant effects of late-career unemployment on the likelihood to leave the labor force, and short-term effects on mental health problems such as depression and sleep problems. AU - Freise, Diana AU - Schmitz, Hendrik AU - Westphal, Matthias ID - 33458 JF - Journal of Health Economics TI - Late-Career Unemployment and Cognitive Abilities VL - 86 ER - TY - JOUR AU - Westphal, Matthias AU - Kamhöfer, Daniel A. AU - Schmitz, Hendrik ID - 30235 IS - 646 JF - Economic Journal TI - Marginal College Wage Premium under Selection into Employment VL - 132 ER - TY - GEN AB - Compulsory schooling reforms are often used to estimate monetary returns to education. Such reforms are unrelated to individual characteristics and preferences and thus arguably able to eliminate selection bias. However, as these reforms affect a large number of individuals in the relevant age groups, they might have spillover effects on individuals not directly affected by the reform. Such spillover effects constitute a problem for identification and estimation of returns to schooling. As they are difficult to address, they are mostly ignored in the empirical literature. I show that the introduction of the compulsory ninth grade in Germany led to a labor supply shock that might have increased wages and employment of individuals who were not directly subject to the reform and were assumed not to be affected in previous research. To investigate in this kinds of spillover effects, I exploit the staggered introduction of the compulsory ninth grade across German federal states in a difference-in-differences approach. Based on large scale register and survey data, I find no evidence for persistent spillover effects for men. For women, however, my results suggest that the labor supply shock resulting from the reform may have led to a persistent increase in employment and wages. AU - Schiele, Valentin ID - 46531 KW - Compulsory schooling KW - Education KW - Spillover effects KW - Cohort size KW - Wages KW - Employment TI - Labor market spillover effects of a compulsory schooling reform in Germany ER - TY - JOUR AB - In this paper, we analyze the effect of light conditions on road accidents and estimate the long run consequences of different time regimes for road safety. Identification is based on variation in light conditions induced by differences in sunrise and sunset times across space and time. We estimate that darkness causes annual costs of more than £500 million in Great Britain. By setting daylight saving time year-round 8 percent of these costs could be saved. Thus, focusing solely on the short run costs related to the transition itself underestimates the total costs of the current time regime. AU - Bünnings, Christian AU - Schiele, Valentin ID - 15073 IS - 1 JF - The Review of Economics and Statistics SN - 0034-6535 TI - Spring Forward, Don't Fall Back: The Effect of Daylight Saving Time on Road Safety VL - 103 ER - TY - GEN AB - Individual cognitive functioning declines over time. We seek to understand how adverse physical health shocks in older ages contribute to this development. By use of event-study methods and data from the USA, England and several countries in Continental Europe we find evidence that health shocks lead to an immediate and persistent decline in cognitive functioning. This robust finding holds in all regions representing different health insurance systems and seems to be independent of underlying individual demographic characteristics such as sex and age. We also ask whether variables that are susceptible to policy action can reduce the negative consequences of a health shock. Our results suggest that neither compulsory education nor retirement regulations moderate the effects, thus emphasizing the importance of maintaining good physical health in old age for cognitive functioning. AU - Schiele, Valentin AU - Schmitz, Hendrik ID - 46540 KW - Cognitive decline KW - health shocks KW - retirement KW - education KW - event study TI - Understanding cognitive decline in older ages: The role of health shocks VL - 919 ER - TY - GEN AB - We study effects of retirement on cognitive abilities (up to ten years after retirement) using data from 21 countries in Continental Europe, England, and the US, and exploiting early-retirement thresholds for identification. For this purpose, combines event-study estimations with the marginal treatment effect framework to allow for effect heterogeneity. This helps to decompose event-study estimates into true medium-run effects of retirement and effects driven by differential retirement preferences. Our results suggest considerable negative effects of retirement on cognitive abilities. We also detect substantial effect heterogeneity: Those who retire as early as possible are not affected while those who retire later exhibit negative effects. AU - Schmitz, Hendrik AU - Westphal, Matthias ID - 46537 KW - Cognitive abilities KW - retirement KW - event study KW - marginal treatment effects TI - The dynamic and heterogeneous effects of retirement on cognitive decline VL - 918 ER - TY - JOUR AU - Schmitz, Hendrik AU - Stroka‐Wetsch, Magdalena A. ID - 30234 IS - 7 JF - Health Economics KW - Health Policy SN - 1057-9230 TI - Determinants of nursing home choice: Does reported quality matter? VL - 29 ER - TY - JOUR AB - Much work on innovation strategy assumes or theorizes that competition in innovation elicits duplication of research and that disclosure decreases such duplication. We validate this empirically using the American Inventors Protection Act (AIPA), three complementary identification strategies, and a new measure of blocked future patent applications. We show that AIPA—intended to reduce duplication, through default disclosure of patent applications 18 months after filing—reduced duplication in the U.S. and European patent systems. The blocking measure provides a clear and micro measure of technological competition that can be aggregated to facilitate the empirical investigation of innovation, firm strategy, and the positive and negative externalities of patenting. This paper was accepted by Joshua Gans, business strategy. AU - Lück, Sonja AU - Balsmeier, Benjamin AU - Seliger, Florian AU - Fleming, Lee ID - 31802 IS - 6 JF - Management Science KW - Management Science and Operations Research KW - Strategy and Management SN - 0025-1909 TI - Early Disclosure of Invention and Reduced Duplication: An Empirical Test VL - 66 ER - TY - GEN AB - Theoretical papers show that optimal prevention decisions in the sense of selfprotection (i.e., primary prevention) depend not only on the level of (second-order) risk aversion but also on higher-order risk preferences such as prudence (third-order risk aversion). We study empirically whether these theoretical results hold and whether prudent individuals show less preventive (self-protection) effort than non-prudent individuals. We use a unique dataset that combines data on higher-order risk preferences and various measures of observed real-world prevention behavior. We find that prudent individuals indeed invest less in self-protection as measured by influenza vaccination. This result is driven by high risk individuals such as individuals >60 years of age or chronically ill. We do not find a clear empirical relationship between riskpreferences and prevention in the sense of self-insurance (i.e. secondary prevention). Neither risk aversion nor prudence is related to cancer screenings such as mammograms, Pap smears or X-rays of the lung. AU - Mayrhofer, Thomas AU - Schmitz, Hendrik ID - 46541 KW - prudence KW - risk preferences KW - prevention KW - vaccination KW - screening TI - Prudence and prevention: Empirical evidence VL - 863 ER - TY - JOUR AU - Bünnings, Christian AU - Schmitz, Hendrik AU - Tauchmann, Harald AU - Ziebarth, Nicolas R. ID - 15075 IS - 2 JF - Journal of Risk and Insurance SN - 0022-4367 TI - The Role of Prices Relative to Supplemental Benefits and Service Quality in Health Plan Choice VL - 86 ER - TY - JOUR AU - Kolodziej, Ingo WK AU - Reichert, Arndt R AU - Schmitz, Hendrik ID - 3081 IS - 4 JF - Health services research TI - New Evidence on Employment Effects of Informal Care Provision in Europe VL - 53 ER - TY - GEN AU - Schmitz, Hendrik AU - Winkler, Svenja ID - 5235 T2 - Oxford Research Encyclopedia of Economics and Finance TI - Information, Risk Aversion, and Health Care Economics ER - TY - JOUR AB - Drawing upon recent advances in machine learning and natural language processing, we introduce new tools that automatically ingest, parse, disambiguate, and build an updated database using U.S. patent data. The tools identify unique inventor, assignee, and location entities mentioned on each granted U.S. patent from 1976 to 2016. We describe data flow, algorithms, user interfaces, descriptive statistics, and a novelty measure based on the first appearance of a word in the patent corpus. We illustrate an automated coinventor network mapping tool and visualize trends in patenting over the last 40 years. AU - Balsmeier, Benjamin AU - Assaf, Mohamad AU - Chesebro, Tyler AU - Fierro, Gabe AU - Johnson, Kevin AU - Johnson, Scott AU - Li, Guan‐Cheng AU - Lück, Sonja AU - O'Reagan, Doug AU - Yeh, Bill AU - Zang, Guangzheng AU - Fleming, Lee ID - 31807 IS - 3 JF - Journal of Economics & Management Strategy KW - Management of Technology and Innovation KW - Strategy and Management KW - Economics and Econometrics KW - General Business KW - Management and Accounting KW - General Medicine SN - 1058-6407 TI - Machine learning and natural language processing on the patent corpus: Data, tools, and new measures VL - 27 ER - TY - GEN AU - Bünnings, Christian AU - Schiele, Valentin ID - 46544 KW - road accidents KW - light conditions KW - daylight saving time TI - Spring forward, don’t fall back: The effect of daylight saving time on road safety VL - 768 ER -