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 …

important questions in labor economics, including the source of the experience profile of wages, the response of job changes to …In this paper we use indirect inference to estimate a joint model of earnings, employment, job changes, wage rates, and … heterogeneity, job-specific error components in both wages and hours, and measurement error. We use the model to address a number of …

This paper establishes a new empirical finding: the degree of labor intensity and the degree of price flexibility are … sectors that differ in labor and capital intensities. Nominal disturbances affect capital-intensive and labor …-intensive sectors asymmetrically: prices of labor-intensive goods change less than do prices of capital-intensive goods. In addition …

rely on a high intertemporal labor supply elasticity or elastic supply of capital: our preference specification is standard …

the special case in which prices are sticky and wages are perfectly flexible. When the model is calibrated to exhibit an …

This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a …