Table 5.
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Correlation Between Estimated Year Effect and Macro Indicators for Various Periods.
2004–20162004–20112011–2016
GDP growth0.650.85−0.18
Unemployment rate−0.320.34−0.68
Inflation rate0.090.69−0.55
2004–20162004–20112011–2016
GDP growth0.650.85−0.18
Unemployment rate−0.320.34−0.68
Inflation rate0.090.69−0.55

Notes: Year effect for 2004 (base year) is set to zero. Correlation estimated based on all the available sample periods for risk attitudes.

Source. Own calculations based on SOEP v33.1 long format and World Bank Open Data indicators.

Table 5.
Open in new tab
Correlation Between Estimated Year Effect and Macro Indicators for Various Periods.
2004–20162004–20112011–2016
GDP growth0.650.85−0.18
Unemployment rate−0.320.34−0.68
Inflation rate0.090.69−0.55
2004–20162004–20112011–2016
GDP growth0.650.85−0.18
Unemployment rate−0.320.34−0.68
Inflation rate0.090.69−0.55

Notes: Year effect for 2004 (base year) is set to zero. Correlation estimated based on all the available sample periods for risk attitudes.

Source. Own calculations based on SOEP v33.1 long format and World Bank Open Data indicators.

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