demonstrates that lifetime earnings inequality has increased over the past 30 years. We first explore how starting wages and wage … results are consonant with the data on starting wages and wage growth. Finally, we show that the increase in inequality has … been largely driven by greater dispersion in hourly wages, although declining hours of work among low-education young men …

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 …

nominal wages. This finding contrasts with results obtained using standard sticky-wage models, which employ Walrasian labor … tolerate large fluctuations in real wages that would otherwise not be tolerated in a standard model with Walrasian labor … markets; as a result, any concern for stabilizing nominal wages does not translate into a concern for stabilizing nominal …

utility calculations. There is a stabilization problem because there are one-period nominal contracts for wages, or prices, or …