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The Price of Experience
Jeong, Hyeok; Manovskii, Iourii; Kim, Yong - National Bureau of Economic Research (NBER) - 2014
We identify a key role of factor supply, driven by demographic changes, in shaping several empirical regularities that are a focus of active research in macro and labor economics. In particular, demographic changes alone can account for the large movements of the return to experience over the...
Persistent link: https://www.econbiz.de/10011196338
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Optimal Employment Contracts with Hidden Search
Lentz, Rasmus - National Bureau of Economic Research (NBER) - 2014
In this paper I explore optimal employment contract design in a random search framework, where workers search on and off the job for employment opportunities similar to that of Lentz (2010) and Bagger and Lentz (2013). The worker determines the frequency by which employment opportunities arrive...
Persistent link: https://www.econbiz.de/10010796538
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Robots Are Us: Some Economics of Human Replacement
Kotlikoff, Laurence; Benzell, Seth G.; LaGarda, Guillermo; … - National Bureau of Economic Research (NBER) - 2015
Will smart machines replace humans like the internal combustion engine replaced horses? If so, can putting people out of work, or at least out of good work, also put the economy out of business? Our model says yes. Under the right conditions, more supply produces, over time, less demand as the...
Persistent link: https://www.econbiz.de/10011170273
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Sorting Between and Within Industries: A Testable Model of Assortative Matching
Abowd, John M.; Kramarz, Francis; Pérez-Duarte, Sébastien - National Bureau of Economic Research (NBER) - 2014
We test for sorting of workers between and within industrial sectors in a directed search model with coordination frictions. We fit the model to sector-specific vacancy and output data along with publicly-available statistics that characterize the distribution of worker and employer wage...
Persistent link: https://www.econbiz.de/10010951088
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Frictional Wage Dispersion in Search Models: A Quantitative Assessment
Hornstein, Andreas; Krusell, Per; Violante, Giovanni L. - National Bureau of Economic Research (NBER) - 2007
labor market turnover). Various independent data sources suggest that actual residual wage dispersion (i.e., inequality …
Persistent link: https://www.econbiz.de/10005778040
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The Growth of Low Skill Service Jobs and the Polarization of the U.S. Labor Market
Autor, David; Dorn, David - National Bureau of Economic Research (NBER) - 2009
We offer an integrated explanation and empirical analysis of the polarization of U.S. employment and wages between 1980 and 2005, and the concurrent growth of low skill service occupations. We attribute polarization to the interaction between consumer preferences, which favor variety over...
Persistent link: https://www.econbiz.de/10005040647
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Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis
Guvenen, Fatih; Kuruscu, Burhanettin - National Bureau of Economic Research (NBER) - 2007
inequality results only from differences in human capital accumulation. We examine the response of this model to skill … features of the U.S. data including (i) a rise in overall wage inequality both in the short run and long run, (ii) an initial … that most of this fall and rise takes place among younger workers, (iv) a rise in within-group inequality, (v) stagnation …
Persistent link: https://www.econbiz.de/10005714763
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Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence
Acemoglu, Daron - National Bureau of Economic Research (NBER) - 1998
create a qualitative change in the composition of jobs, increasing the demand for skills, wage inequality, and the …
Persistent link: https://www.econbiz.de/10005829909
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What Do Data on Millions of U.S. Workers Reveal about Life-Cycle Earnings Risk?
Guvenen, Fatih; Song, Jae; Karahan, Fatih; Ozkan, Serdar - National Bureau of Economic Research (NBER) - 2015
We study the evolution of individual labor earnings over the life cycle using a large panel data set of earnings histories drawn from U.S. administrative records. Using fully nonparametric methods, our analysis reaches two broad conclusions. First, earnings shocks display substantial deviations...
Persistent link: https://www.econbiz.de/10011159892
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Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006
Heathcote, Jonathan; Perri, Fabrizio; Violante, Giovanni L. - National Bureau of Economic Research (NBER) - 2009
We conduct a systematic empirical study of cross-sectional inequality in the United States, integrating data from the … Finances. In order to understand how different dimensions of inequality are related via choices, markets, and institutions, we … wage inequality over the sample period. Changes in the distribution of hours worked sharpen the rise in earnings inequality …
Persistent link: https://www.econbiz.de/10008614636