We provide a method to measure welfare, in money-metric terms, taking into account expectations about the future. Our two key assumptions are that (1) the expenditure function is separable between the present and the future, and (2) there are some households that do not face idiosyncratic...

While there is substantial research on the intergenerational persistence of economic outcomes such as income and wealth, much less is known about intergenerational persistence in health. We examine the correlation in longevity (an overall measure of health) across generations using a unique...

We use a panel of survey responses linked to administrative data in Germany to measure the depreciation of skills while workers are unemployed. Both the reemployment hazard rate and reemployment earnings steadily fall with unemployment duration, and indicators of depression and loneliness rise...

US universities have attracted hundreds of thousands of international students each year for the last decade. Some of these remain in the US after graduating and contribute to the high skilled labor supply in US labor markets. In this paper, we identify and estimate by how much one more...

This paper proposes a non-pecuniary measure of career achievement, Seniority. Based on a database of over 5 million resumes, this metric exploits the variation in job titles and how long they take to attain. When non-monetary factors influence career choice, inference benefits from the use of...

How does persecution affect who migrates? We analyze migrants' self-selection out of the USSR and its satellite states before and after the collapse of Communism using census microdata from the three largest destination countries: Germany, Israel, and the United States. We find that migrants...

Correspondence studies have found evidence of age discrimination in callback rates for older workers, but less is known about whether job advertisements can themselves shape the age composition of the applicant pool. We construct job ads for administrative assistant, retail, and security guard...

We develop a frictional labor market model with multiple regions and heterogeneous firms to study how frictions impeding labor mobility across space affect the joint allocation of labor across firms and regions. Bringing the model to matched employer-employee data from Germany, we find that...

Society's transition toward more sustainable energy sources is well underway. But substantially reducing the use of fossil fuels to generate electricity, to power vehicles, and to manufacture the stuff of everyday life will profoundly disrupt the communities that currently dedicate themselves to...

Since the start of the pandemic the U.S. labor market has been characterized as being plagued by missing jobs, i.e. payroll employment has fallen more than five million jobs short of its pre-pandemic trend, and missing workers, i.e. the participation rate has declined by 1.2 percentage points: A...