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Inequality and employment sensitivities to the falling labour share

Karanassou, Marika; Sala, Hector - 2011

inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate … contributions of the labour share to the trajectories of inequality and employment during specific time intervals in the post-1990 … years. We find that during the nineties the cost of a one percent increase in employment was in the range of 0 …

Persistent link: https://www.econbiz.de/10009309510

A collective retirement model : identification and estimation in the presence of externalities

Michaud, Pierre-Carl (contributor); … - 2004 - [Elektronische Ressource]

We study the labor supply dynamics of elderly couples by means of a structural collective model. The model allows for general externalities with respect to spouses' leisure. Preferences and the intrahousehold bargaining process are identified by using panel data with couples and individuals who...

Persistent link: https://www.econbiz.de/10002352153

Productivity growth and the Phillips curve : a reassessment of the US experience

Karanassou, Marika; Sala, Hector - 2009

In this paper we analyse a new Phillips curve (NPC) model and demonstrate that (i) frictional growth, i.e. the interplay of wage-staggering and money growth, generates a nonvertical NPC in the long-run, and (ii) the Phillips curve (PC) shifts with productivity growth. On this basis we estimate a...

Persistent link: https://www.econbiz.de/10003879334

Understanding the economic consequences of shifting trends in population health

Michaud, Pierre-Carl; Goldman, Dana P.; Lakdawalla, Darius - 2009

The public economic burden of shifting trends in population health remains uncertain. Sustained increases in obesity, diabetes, and other diseases could reduce life expectancy - with a concomitant decrease in the public-sector's annuity burden - but these savings may be offset by worsening...

Persistent link: https://www.econbiz.de/10003884098

The evolution of inflation and unemployment : explaining the roaring nineties

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2007

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a phenomenon arising from the interplay between growth and frictions. In particular, we examine the interaction between money growth (on the one hand) and various real and nominal...

Persistent link: https://www.econbiz.de/10003586564

How did the elimination of the earnings test above the normal retirement age affect retirement expectations?

Michaud, Pierre-Carl (contributor); … - 2007

We look at the effect of the 2000 repeal of the earnings test above the normal retirement age (NRA) on retirement expectations of male workers in the Health and Retirement Study (HRS). Using administrative records on Social Security benefit entitlements linked to the HRS survey data, we can...

Persistent link: https://www.econbiz.de/10003609614

On the rise of health spending and longevity

Fonseca, Raquel; Michaud, Pierre-Carl; Galama, Titus; … - 2009

We use a calibrated stochastic life-cycle model of endogenous health spending, asset accumulation and retirement to investigate the causes behind the increase in health spending and life expectancy over the period 1965-2005. We estimate that technological change along with the increase in the...

Persistent link: https://www.econbiz.de/10003925549

Heterogeneous returns to human capital and dynamic self-selection

Belzil, Christian; Hansen, Jörgen - 2001

We estimate a structural dynamic programming model of schooling decisions and obtain individual specific estimates of the local (and average) returns to schooling as well as the returns to experience. Homogeneity of the returns to human capital is strongly rejected in favor of a discrete...

Persistent link: https://www.econbiz.de/10011401014

Subjective discount rates, intergenerational transfers and the return to schooling

Belzil, Christian; Hansen, Jörgen - 1999

Using a dynamic programming model of schooling decisions, we investigate the relationship between subjective discount rates and the labor market ability (the discount rate bias) on a panel taken from the National Longitudinal Survey of Youth (NLSY). Given household human capital and Armed Forces...

Persistent link: https://www.econbiz.de/10011313951

Unobserved ability and the return to schooling

Belzil, Christian; Hansen, Jörgen - 2002

We estimate a structural dynamic programming model of schooling decisions with unobserved heterogeneity in school ability and market ability on a sample taken from the National Longitudinal Survey of Youth (NLSY). Both the instantaneous utility of attending school and the wage regression...

Persistent link: https://www.econbiz.de/10011411639