Many art critics and scholars argue that art markets are irrational, and that there is no correlation between prices and artistic importance. This paper identifies all living artists who have executed at least one work that has sold at auction for at least $1 million, and ranks them both by the...

Synthesizes what we know empirically about the WIA program and discusses lessons for WIA reauthorization.

We use a dynamic modeling strategy to evaluate two potential avenues through which health differences generate a wage gap: (1) directly, through reductions in health capital, and (2) indirectly, through employment transitions that reduce human capital (specifically, occupation and employer...

Performance management systems may improve service delivery and participant outcomes, but they do not necessarily provide information on a program's causal effects. This article develops a statistical model that describes the conditions under which regression adjustment improves the...

This article examines the impact of low skilled immigration on the childbearing and labor supply decisions of high-education female natives of the United States. The authors find that an influx of low skilled immigrants to a city attenuates the negative relationship between female labor force...

Ende des 19. Jahrhunderts bildete sich in Deutschland die Arbeitslosigkeit als eigenständiges Problemfeld heraus, das nicht nur aus sozialpolitischer, sondern zunehmend aus ökonomischer Perspek¬tive beleuchtet wurde. Dabei wurde zum einen gefragt, ob und wie sozialpolitische Ziele ökonomisch...

The present paper establishes a two-sector general equilibrium model and conduct the comparative static approach to investigate the impact exerted by an increase in the remittance rate of the unskilled migrants on the skilled–unskilled wage inequality in the labor host region. We find that the...

Luck, skill and labor markets all have empirical support as determinants of managerial compensation. We examine the relative importance of pay for luck, managerial skill and labor market opportunities in determining compensation. We measure luck as the predictable component of firm performance,...

Ever since the U.S. federal-state system of unemployment insurance was founded in the 1930s, it has provided partial, temporary replacement of wages to eligible workers who lose jobs “through no fault of their own†(as determined by state-level regulations). Unemployment insurance is...