Showing 1 - 10 of 511
spouses' time to work, leisure, and childcare. In an environment with uncertainty, the allocation of goods and time over the …, spouses' wages, hours of work, and time spent with children to estimate the sensitivity of consumption and time allocation to … supply cross-responses depend on three counteracting forces: complementarity of leisure time, substitutability of time in the …
Persistent link: https://www.econbiz.de/10012453707
for this economy, thereby obtaining a theory of endogenous growth that captures in a tractable way the social nature of …
Persistent link: https://www.econbiz.de/10012461162
It is widely hypothesized that incomes in wealthy countries are insulated from environmental conditions because individuals have the resources needed to adapt to their environment. We test this idea in the wealthiest economy in human history. Using within-county variation in weather, we estimate...
Persistent link: https://www.econbiz.de/10012457916
We examine the impact of wage stickiness when employment has an effort as well as hours dimension. Despite wages being … sticky wages, but no effort margin. Allowing for responses in effort dramatically improves the ability of a sticky-wage model …
Persistent link: https://www.econbiz.de/10012471475
This paper characterizes the transition dynamics of a continuous-time neoclassical production economy with capital accumulation in which households face idiosyncratic income risk and cannot commit to repay their debt. Therefore, even though a full set of contingent claims that pay out...
Persistent link: https://www.econbiz.de/10015056206
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/10012457753
This paper offers a thesis as to why the US overtook the UK and other European countries in the 20th century in both aggregate and per-capita GDP, as a case study of recent models of endogenous growth where human capital is the "engine of growth". The conjecture is that the ascendancy of the US...
Persistent link: https://www.econbiz.de/10012465788
Over the last 50 years, there has been a remarkable convergence in the occupational distribution between white men, women, and blacks. We measure the macroeconomic consequences of this convergence through the prism of a Roy model of occupational choice in which women and blacks face frictions in...
Persistent link: https://www.econbiz.de/10012459972
: experience, age, vintage and calendar year. The first section of the paper provides a brief outline of a theory of planned growth …
Persistent link: https://www.econbiz.de/10012478991
because the marginal tax rates, in general equilibrium, impact wages, and hence individual utility. The "progressivity" effect …
Persistent link: https://www.econbiz.de/10012455173