Showing 1 - 10 of 28
We analyze the democratic politics and competitive economics of a ‘golden rule’ that separates capital and ordinary account budgets and allows a government to issue debt to finance only capital items. Many national governments followed this rule in the 18th and 19th centuries and most U.S....
Persistent link: https://www.econbiz.de/10005520037
From 1978 to 2000 the fraction of adult men in full-year non-employment increased from 17.1 to 21.6 percent. Previous research focused on the role of disability insurance policy and wage structure changes to explain this increase. Using Current Population Surveys from 1979 to 2003 we assess how...
Persistent link: https://www.econbiz.de/10005419874
We use data from the Consumer Expenditure Survey from 1980-2003 combined with item specific Consumer Price Index data to calculate monthly chain-weighted inflation measures for thirteen different demographic groups and for the overall urban population from 1981-2004. We find that the inflation...
Persistent link: https://www.econbiz.de/10005419909
Without policy reforms, the aging of the U.S. population is likely to increase the burden of the currently unfunded social security and medicare systems. In this paper we build an applied general equilibrium model and incorporate the population projections made by the Social Security...
Persistent link: https://www.econbiz.de/10005419987
Persistent link: https://www.econbiz.de/10005389815
This paper develops a Walrasian equilibrium theory of establishment level dynamics and matching frictions and uses it to evaluate the effects of congestion externalities in the matching process and determine the government interventions that are needed to implement a Pareto optimal allocation....
Persistent link: https://www.econbiz.de/10005419940
"This paper proposes a methodology for estimating job search models that does not require either functional form assumptions or ruling out the presence of unobserved variation in worker ability. In particular, building on existing results from record- value theory, a branch of statistics that...
Persistent link: https://www.econbiz.de/10001920686
Persistent link: https://www.econbiz.de/10005519121
Problems with measurement error have led many researchers to criticize panel data studies of intertemporal labor supply. In this study I address the measurement error problems explicitly. I estimate the properties of measurement error in the Panel Study of Income Dynamics Validation Study. I...
Persistent link: https://www.econbiz.de/10005520006
This paper extends a standard intertemporal labor supply model to account for progressive taxation as well as the joint determination of hourly wages and hours worked. We show, qualitatively and quantitatively, that these two factors have important implications for estimating the intertemporal...
Persistent link: https://www.econbiz.de/10005520045