education, labor supply, and consumption/saving decisions. Altruistic parents make inter vivos transfers to their children … of funding for college education. We find that the current financial aid system in the U.S. improves welfare, and …

contemporary incarnation of this displacement--labor market polarization, meaning the simultaneous growth of high-education, high …-wage and low-education, low-wages jobs--a manifestation of Polanyi's paradox. I discuss both the explanatory power of the …

Goldin and Katz's <i>The Race between Education and Technology</i> is a monumental achievement that supplies a unified …

We reassess the effect of state and federal minimum wages on U.S. earnings inequality using two additional decades of … suffers from two sources of bias and propose an IV strategy to address both. We find that the minimum wage reduces inequality …

-sectional inequality in hours worked, earnings and consumption, and for welfare. The framework for the analysis is an incomplete …-markets overlapping-generations model in which individuals choose education and form households, and households choose consumption and … by gender and education. The model is parameterized using micro data from the PSID, the CPS and the CEX. With the …

labor market turnover). Various independent data sources suggest that actual residual wage dispersion (i.e., inequality …