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First Quarter 2020

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Posted 2020-01-17

Worker Diversity and Wage Growth Since 1940

by Makenzie Peake and Guillaume Vandenbroucke

Since 1940, the average worker has become older, more educated, more likely to be a woman, less likely to be White, and slightly less likely to be single. How has this evolution of the average worker affected wage growth—that is, the wage of the average worker? 

Posted 2020-01-17

The College Wealth Divide: Education and Inequality in America, 1956-2016

by Alina K. Bartscher, Moritz Kuhn, and Moritz Schularick

Using new long-run microdata, this article studies wealth and income trends of households with a college degree and without a college degree in the United States since 1956. It documents the emergence of a substantial college wealth premium since the 1980s, which is considerably larger than the college income premium

Posted 2020-01-17

The Geography of Housing Market Liquidity During the Great Recession

by Matthew Famiglietti, Carlos Garriga, and Aaron Hedlund

Using detailed micro data at the ZIP code level, this article explores the regional variation in housing market performance to account for the severity of the Great Recession. The granularity of the data, relative to a more traditional analysis at the county level, is useful for evaluating the performance of the housing market because credit and local macroeconomic variables are tied to housing valuations.

Posted 2020-01-17

Health and Economic Development from Cross-Country Perspectives

by Ping Wang and Yin-Chi Wang

This article provides a comprehensive overview of the role that health plays in economic develop­ment, including cross-country differences in income and health and the underused value-of-­life and life-year gain measures.