The vast literature on the effects of immigration on wages and employment is plagued by likely endogeneity and aggregation biases. Ours is among the first papers to address both of these issues by means of causality analysis and by accounting for human capital endowments. Our analysis confirms...

We document systematic and significant time variation in US lifecycle non-durable consumption profiles. Consumption profiles have consistently become flatter: differences in consumption across generations have decreased. Pooling data across different periods to identify lifecycle profiles masks...