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The Economic Approach to Personality, Character and Virtue

Heckman, James J.; Galaty, Bridget; Tian, Haihan - National Bureau of Economic Research - 2023

This chapter presents an economic approach to character and personality traits with an application to the study of virtue. Economists interpret psychological traits, including character traits and virtue, as strategies that shape responses to situations (actions) determined by underlying...

Persistent link: https://www.econbiz.de/10014287358

Innovation, Imitation, and Intellectual Property Rights

Helpman, Elhanan - 1992

analysis proceeds in stages. It begins with an exogenous rate of innovation in order to focus on the first two components. The … last two components are added by endogenizing the rate of innovation. Finally, the paper considers the role of foreign …

Persistent link: https://www.econbiz.de/10012474898

Intellectual Property Rights, the Pool of Knowledge, and Innovation

Stiglitz, Joseph E. - 2014

The pace of innovation is related both to the level of investment in innovation and the pool of knowledge from which … innovators can draw. Both of these are endogenous: Investments in innovations are affected by the pool of knowledge and the … and design of IPR affects the extent to which any innovation adds to or subtracts from the pool of ideas that are …

Persistent link: https://www.econbiz.de/10012458650

Multidimensional Human Capital and the Wage Structure

Deming, David J. - National Bureau of Economic Research - 2023

This paper reviews and synthesizes the literature on the macroeconomic implications of human capital theory. I begin with a review of the canonical model of education and the wage structure pioneered by Tinbergen (1975) and developed more fully by Goldin and Katz (2007). I also review...

Persistent link: https://www.econbiz.de/10014247921

Instrumental Variables with Unordered Treatments : Theory and Evidence from Returns to Fields of Study

Heinesen, Eskil; Hvid, Christian; Kirkebøen, Lars J.; … - National Bureau of Economic Research - 2022

We revisit the identification argument of Kirkeboen et al. (2016) who showed how one may combine instruments for multiple unordered treatments with information about individuals' ranking of these treatments to achieve identification while allowing for both observed and unobserved heterogeneity...

Persistent link: https://www.econbiz.de/10013435136

Labor Supply and Occupational Choice

Erosa, Andrés; Fuster, Luisa; Kambourov, Gueorgui; … - National Bureau of Economic Research - 2022

We document a robust negative relationship between mean annual hours in an occupation and the dispersion of annual hours within that occupation. We study a unified model of occupational choice and labor supply that features heterogeneity across occupations in the return to working additional...

Persistent link: https://www.econbiz.de/10013388848

Risk Management and the Autonomy of Labor

Dambaur, Andreas J.; Ericson, Keith M. Marzilli; … - National Bureau of Economic Research - 2022

Foresightful workers can take actions to reduce their exposure to risk in labor markets, but existing evidence on narrow bracketing suggests that individuals might not optimally integrate risk reduction decisions with subsequent labor decisions. In an online labor market, we vary the level of...

Persistent link: https://www.econbiz.de/10013477286

Cognitive Decline and Dynamic Selection

Darden, Michael - National Bureau of Economic Research - 2022

Understanding cognitive health, its decline, and the investments that shape its age profile in later life are important in an aging society, and yet, estimating the cognitive health production function is complicated by non-random mortality and sample attrition. I study this dynamic selection...

Persistent link: https://www.econbiz.de/10013462727

Genetic Endowments, Income Dynamics, and Wealth Accumulation Over the Lifecycle

Barth, Daniel; Papageorge, Nicholas W.; Thom, Kevin; … - National Bureau of Economic Research - 2022

We develop and estimate a life-cycle consumption savings model in which observed genetic variation is allowed to affect wealth accumulation through several distinct channels. We focus on genetic markers that predict educational attainment, aggregated into a predictive index called a polygenic...

Persistent link: https://www.econbiz.de/10013362004

Hours Worked and Lifetime Earnings Inequality

Bick, Alexander; Blandin, Adam; Rogerson, Richard Donald - National Bureau of Economic Research - 2024

We document large differences in lifetime hours of work using data from the NLSY79 and argue that these differences are an important source of inequality in lifetime earnings. To establish this we develop and calibrate a rich heterogeneous agent model of labor supply and human capital...

Persistent link: https://www.econbiz.de/10015072938

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