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Substitution Over Time : Another Look at Life Cycle Labor Supply

Mulligan, Casey B. - 2021

Most studies of the intertemporal substitution of work use life cycle data and, from those studies, many have concluded that intertemporal labor substitution is unimportant for macroeconomics. This paper takes another look at life cycle data and argues that a consideration of measurement errors,...

Persistent link: https://www.econbiz.de/10013221291

Induced Retirement, Social Security, and the Pyramid Mirage

Mulligan, Casey B. - 2021

Does Social Security redistribute across cohorts? Or is it a program for purchasing the jobs' of the elderly? I formalize both models, showing how they have some predictions in common the most important of which is that generational accounts have the appearance of a pyramid scheme.' I also...

Persistent link: https://www.econbiz.de/10013221937

Social Security, Retirement, and the Single-Mindedness of the Electorate

Mulligan, Casey B.; Sala-i-Martin, Xavier - 2021

We propose a positive theory that is consistent with two important features of social security programs around the …

Persistent link: https://www.econbiz.de/10013222047

Human Capital, Heterogeneity, and Estimated Degrees of Intergenerational Mobility

Mulligan, Casey B.; Han, Song - 2021

Some of the important implications of the parental investment model of intergenerational mobility have been derived under the assumption that parental income is the main source of heterogeneity. We explicitly model the variability and inheritability of innate' earnings ability and the...

Persistent link: https://www.econbiz.de/10013222056

The Empirical Frequency of a Pivotal Vote

Mulligan, Casey B.; Hunter, Charles G. - 2021

Empirical distributions of election margins are computing using data on U.S. Congressional and state legislator election returns. We present some of the first empirical calculations of the frequency of close elections, showing that one of every 100,000 votes cast in U.S. elections, and one of...

Persistent link: https://www.econbiz.de/10013222633

Social Security in Theory and Practice (Ii) : Efficiency Theories, Narrative Theories, and Implications for Reform

Mulligan, Casey B.; Sala-i-Martin, Xavier - 2021

human capital externalities', optimal retirement insurance', the prodigal father problem', the misguided Keynesian', the … also analyze four narrative' theories of social security: the chain letter theory', the lump of labor theory', the monopoly … capitalism theory', and the Sub-but-Nearly-Optimal policy response to private pensions theory'. The political and efficiency …

Persistent link: https://www.econbiz.de/10013223569

Microfoundations and Macro Implications of Indivisible Labor

Mulligan, Casey B. - 2021

I show that the indivisible labor' models of Diamond and Mirrlees (1978, 1986), Hansen (1985), Rogerson (1988), Christiano and Eichenbaum (1992), and many others are, when aggregated across persons with the same marginal utility of income, equivalent to the divisible labor model of Lucas and...

Persistent link: https://www.econbiz.de/10013223873

Simple Analytics and Empirics of the Government Spending Multiplier and Other "Keynesian" Paradoxes

Mulligan, Casey B. - 2010

Factor supply increases (depresses) output for many of the same reasons that the government spending multiplier might be less (greater) than one. Data from three 2008-9 recession episodes - the labor supply shifts associated with the seasonal cycle, the 2009 federal minimum wage hike, and the...

Persistent link: https://www.econbiz.de/10013147161

Wedges, Wages, and Productivity Under the Affordable Care Act

Mulligan, Casey B. - 2013

Our paper documents the large labor market wedges created by taxes, subsidies, and regulations included in the Affordable Care Act. The law changes terms of trade in both goods and factor markets for firms offering health insurance coverage. We use a multi-sector (intra-national) trade model to...

Persistent link: https://www.econbiz.de/10013071301

Uncertainty, Redistribution, and the Labor Market

Mulligan, Casey B. - 2013

Uncertainty and its composition can affect the demand for social insurance, and thereby the labor market. This paper shows that small to medium-sized increases in uncertainty or risk aversion are enough to recommend an expansion of the safety net that would be broadly similar to the actual...

Persistent link: https://www.econbiz.de/10013074281