Last, several reforms have been introduced since 2012 that increased disclosure requirements for both federal and state MPS in Germany. Therefore, it is important to interpret our results within the context of the narrow bracket system established in 2007. 10/n

More broadly, the interaction between the sender and receiver of information significantly influences the effectiveness of transparency policies and should be considered in their design. Our study highlights the complexities surrounding transparency policies. 9/n

Taken together, our estimated effects of public disclosure and the differences in voter perceptions suggest that MPs accurately anticipate how voters perceive them and may use public disclosure as a signaling tool. 8/n

We show in a survey among German voters that perceptions of outside income vary by political preference: right-leaning voters perceive it as a sign of competence while left-leaning voters associate it with reduced voter representation. 7/n

Using a proxy in the tax data, we find suggestive evidence that right-leaning MPs were the primary contributors to this effect. 6/n

Using administrative tax data and a difference-in-differences design with state MPs, we demonstrate that MPs increased their outside income following the public disclosure reform in 2007. 5/n

Starting descriptively, we hand-collect all publicly disclosed activities from 2005 to 2013. Consistent with prior evidence, we find that right-leaning MPs (CDU/CSU & FDP) are more likely to engage in outside work and have higher outside income. 4/n

We study a German disclosure reform implemented in 2007, which required federal MPs to report their outside income in a bracket system, top-coded at 7000€ per activity. This allows us to examine how MPs adjusted their outside income in response to the reform. 3/n

We make a novel contribution to the literature on transparency, accountability and the interplay between voter perceptions and political behavior. 2/n

Please have a look at @jakobwegmann.bsky.social and sarahgharbi.github.io who are on the market!

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Could you add me? Thanks! Mich appreciated