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"This study presents evidence that the correlation in brothers' earnings has risen in recent decades. We use two … distinct cohorts of young men from the National Longitudinal Surveys and estimate that the correlation in earnings between … important in determining economic outcomes. We find that neither the correlation in years of schooling nor the rising return to …
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"In his famous 1987 monograph, Robert Lucas argued that further stabilizing the business cycles that persisted in the post-War era was pointless, because these cycles had a negligible effect on societal well- being. In particular, Lucas demonstrated that society should be willing to pay only a...
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"This paper evaluates to what extent the introduction of firing costs can affect the aggregate dynamics of a neoclassical growth model with hetrogeneous establishments. Similarly to the previous literature, firing costs are found to have large steady- state effcts. However, they have no...
Persistent link: https://www.econbiz.de/10001909318
"Economists have long viewed recessions as contributing to increasing inequality. However, this conclusion is largely based on data from a period in which inequality was increasing over time. This paper examines the connection between long-run trends and cyclical variation in earnings...
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