This paper studies variation in individual labor income over time using a panel vector autoregression (PVAR) in income … variation in labor income is due to residual variation in the wage rate, work hours, and unemployment hours. I also explore the … their contribution to short-run and long-run income movements. The model is estimated on a sample of male household heads …

single week per year. One common explanation for this trend, declining real wages, ignores the fact that the value of working … 1967 and 1977. Changes in wages do not explain any of this trend. …

Trade of the OECD countries has grown faster than income during the postwar period. This paper tests a number of … different hypotheses for the observed growth in the trade/income ratio. For small open economies, increases in real output and …

, or because preferences have become more similar with rising per capita income. …

explore what combination of the expenditure data and the income data seem to produce the most sensible data according to a few …