This paper provides a human capital theory-based explanation for the presence of a permanent component in earnings levels as well as individual heterogeneity in earnings slopes. We incorporate uncertainty about the future rental rates of human capital into a life-cycle human capital investment...

This paper presents new evidence on whether foreign-born workers assimilate. While the existing literature focuses on the convergence/divergence of average wages, this study extends the analysis to the distribution of wages by looking at wage mobility. We measure the foreign-native gap in...

This article investigates the time to first birth, treating coresidence with husband’s parents and labor supply as endogenous and using representative data on Taiwanese married women born during 1933–1968. We use a full-information maximum likelihood estimator for a duration model with...

This paper provides a human capital theory-based explanation for the presence of a permanent component in earnings levels as well as individual heterogeneity in earnings slopes. We incorporate uncertainty about the future rental rates of human capital into a life-cycle human capital investment...

This paper shows that the Zero-Information-Limit-Condition (ZILC) formulated by Nelson and Startz (2006) holds in the GARCH(1,1) model. As a result, the GARCH estimate tends to have too small a standard error relative to the true one when the ARCH parameter is small, even when sample size...