Appendix B: Definition of Variables
|
Variable |
Definition |
|
Age
# Children
Gender
Education -
Low
Education -
Middle |
Age of respondent
Number of children in the household
Dummy for gender, with 0 = male and 1 = female
Dummy for education category = no degree, on the job training or no
degree, still in school (EVS) and no high school diploma/GED (SCF)
Holdout group for education category (= college degree (Meister,
Berufs- und Fachakademie), apprenticeship (Lehre), still in
apprenticeship or college (EVS) and high school diploma or GED or
some college (SCF)) |
|
Education -
High
Occupation -
Employed |
Dummy for education category = applied science college degree
(Fachhochschule) or university degree (EVS) and college degree (SCF)
Holdout group for occupation = government employee (Beamter), work
for someone else (Angestellter) or work for someone else (Arbeiter)
(EVS) and work for someone else (SCF) |
|
Occupation -
Unemployed |
Dummy for occupation = unemployed, student or other not employed
(homemaker, pupil, ...) (EVS) and other groups not working (mainly
those under 65 and out of the labor force) (SCF) |
|
Occupation -
Retired |
Dummy for occupation = retired (Rentner) or retired (Pensionar) (EVS)
and retired/disabled + (student/homemaker/misc. not working and age 65
or older) (SCF) |
|
Income
Labor Income |
Total amount of pre-tax income
Total amount of pre-tax income, excluding any income or withdrawals
from investments (financial assets and real estate) |
|
Owns risky 1
% risky 1 |
Dummy for % risky 1 > 0 vs. = 0
Risky financial assets (including directly-held stocks; risky share
invested in investment funds; mortgage-backed bonds; corporate and
foreign bonds; risky share invested in trusts, annuities and managed
investment accounts, quasi-liquid retirement accounts; other financial
assets (e.g., loans to someone else, future proceed from lawsuits))
divided by Assets |
|
Own risky 2
% risky 2
Owns House
House
Assets |
Dummy for % risky 2 > 0 vs. = 0
Risky financial assets (risky 1) + House - Debt divided by Net worth
Dummy for house or real estate ownership
Total value of houses and real estate
Total value of assets, including financial assets and real estate, but
excluding cars and other nonfinancial assets (e.g., paintings) |
|
In Debt
Debt
Net worth |
Dummy for Debt > 0 vs. = 0
Total value of debt
Assets - Debt |
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