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Insurance and Opportunities: The Welfare Implications of Rising Wage Dispersion

Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2005

This paper analyses the welfare effects of changes in cross-sectional wage dispersion, using a class of tractable heterogeneous-agent economies. We emphasize a trade-off in the welfare calculation that arises when labour supply is endogenous. On the one hand, as wage uncertainty rises, so does...

Persistent link: https://www.econbiz.de/10005123728

The Cross-Sectional Implications of Rising Wage Inequality in the United States

Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2004

This Paper explores the implications of the recent sharp rise in US wage inequality for welfare and the cross-sectional distributions of hours worked, consumption and earnings. From 1967 to 1996 cross-sectional dispersion of earnings increased more than wage dispersion, due to a rise in the...

Persistent link: https://www.econbiz.de/10005656181

Consumption and Labour Supply with Partial Insurance: An Analytical Framework

Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2007

This paper develops an analytical framework to study consumption and labour supply in a rich class of heterogeneous-agent economies with partial insurance. The environment allows for trade in non-contingent and state-contingent bonds, for permanent and transitory idiosyncratic productivity...

Persistent link: https://www.econbiz.de/10005114147

Two Views of Inequality Over the Life-Cycle

Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2004

Data on the life-cycle profiles of inequality in wages, earnings, hours worked and consumption contains precious information for answering questions about the ability of households to insure labor market risk and about the sources of this risk. This Paper demonstrates that the choice of whether...

Persistent link: https://www.econbiz.de/10005662083

Fertility: The Role of Culture and Family Experience

Fernández, Raquel; Fogli, Alessandra - C.E.P.R. Discussion Papers - 2005

This paper attempts to disentangle the direct effects of experience from those of culture in determining fertility. We … use the GSS to examine the fertility of women born in the US but from different ethnic backgrounds. We take lagged values … of the total fertility rate in woman’s country of ancestry as the cultural proxy and use the woman’s number of siblings …

Persistent link: https://www.econbiz.de/10005498034

Culture: An Empirical Investigation of Beliefs, Work and Fertility

Fernández, Raquel; Fogli, Alessandra - C.E.P.R. Discussion Papers - 2005

fertility behaviour of women 30-40 years old, born in the US, but whose parents were born elsewhere. We use past female labour … force participation and total fertility rates from the country of ancestry as our cultural proxies. These variables should … explanatory power for individual work and fertility outcomes, even after controlling for possible indirect effects of culture (e …

Persistent link: https://www.econbiz.de/10005114141