A standard theoretical prediction is that average exports are independent of tariff rates when the underlying distribution of firm productivities is assumed to be the widely-used Pareto distribution. Assuming that the underlying distribution has no upper bound is undoubtedly inaccurate and produces theoretical results at odds with empirical results.
Along with health, Social Security Disability Insurance (SSDI) evaluates work-limiting disability by considering vocational factors including age, education, and past work experience. As the number of SSDI applicants and awards has increased, these vocational criteria are increasingly important to acceptances and denials.
This paper proposes a theoretical and quantitative analysis of the reallocation of labor across firms in response to idiosyncratic shocks of different persistence. Creating and destroying jobs is costly and workers are paid a share of the value of the marginal worker.
Trade data are typically reported at the level of regions or countries and are therefore
aggregates across space. In this paper, we investigate the sensitivity of standard
gravity estimation to spatial aggregation.
This paper asked the question of whether the behavior and compensation of interlocked executives
and non-independent board of directors are consistent with the hypothesis of governance
problem or whether this problem is mitigated by implicit and market incentives.
College-educated workers entering the labor market in 1940 experienced a 4-fold increase in
their labor earnings between the ages of 25 and 55; in contrast, the increase was 2.6-fold for
those entering the market in 1980. For workers without a college education these figures are
3.6-fold and 1.5-fold, respectively.
Multidimensional Skill Mismatch by Faith Guvenen, Burhan Kuruscu, Satoshi Tanaka, and David Wiczer
Working Paper 2015-022B posted September 2015, updated March 2018
What determines the earnings of a worker relative to his peers in the same occupation? What makes a worker fail in one occupation but succeed in another? More broadly, what are the factors that determine the productivity of a worker occupation match? To help answer questions like these, we propose an empirical measure of multidimensional skill mismatch, which is based on the discrepancy between the portfolio of skills required by an occupation and the portfolio of abilities possessed by a worker for learning those skills.
This paper analyzes the sources of the racial difference in the intergenerational transmission of human
capital by developing and estimating a dynastic model of parental time and monetary inputs in early childhood with endogenous fertility, home hours, labor supply, marriage, and divorce.
This paper investigates the effects of the Sarbanes-Oxley Act (SOX) on CEO compensation,
using panel data constructed for the S&P 1500 firms on CEO compensation,
financial returns, and reported accounting income.
As an alternative to ordinary least squares (OLS), we estimate location values for single family houses using a standard housing price and characteristics dataset by local polynomial regressions (LPR), a semi-parametric procedure.
Rising costs of and returns to college have led to sizeable increases in the demand for
student loans in many countries. In the U.S., student loan default rates have also risen
for recent cohorts as labor market uncertainty and debt levels have increased.
Reflecting upon recent enforcement policy activism of US states and countries within the EU
towards unauthorized workers, we examine the overlap of centralized (federal) and decentralized
(state or regional) enforcement of immigration policies in a spatial context.
This paper studies the effect of government stimulus spending on a novel aspect of the labor market: the differential impact of spending on the total wage bill versus employment. We analyze the 2009 Recovery Act via instrumental variables using a new instrument, the spending done by federal agencies that were not instructed to target funds towards harder hit regions.