Showing 1 - 7 of 7
OECD governments note rising immigration with alarm and grapple with policies aimed at selecting certain migrants and keeping out others. Economists appear to be well armed to advise governments since they are responsible for an impressive literature that examines the characteristics of...
Persistent link: https://www.econbiz.de/10005136660
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
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
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
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
Africa and Latin America secured their independence from European colonial rule a century and half apart: most of Latin America after 1820 and most of Africa after 1960. Despite the distance in time and space, they share important similarities. In each case independence was followed by political...
Persistent link: https://www.econbiz.de/10005136542
the English economy to international trade. This paper explores whether and how the relationship was different for Spain …
Persistent link: https://www.econbiz.de/10005114196