Supervisory and monitoring costs are explored to understand aspects of occupational segregation by sex. Around the turn of this century 47 percent of all female manufacturing operatives were paid by the piece, but only 13 percent of the males were. There were very few males and females employed...

Many households hold little wealth, especially liquid wealth. In precautionary savings models, absent preference heterogeneity, these households should display not only higher marginal propensities to consume (MPCs), but also lower average propensities to consume (APCs) and higher future...

Trade theorists have come to understand that their theory is ambiguous on the question: Are trade and factor flows substitutes? While this sounds like an open invitation for empirical research, hardly any serious econometric work has appeared in the literature. This paper uses history to fill...

What is the socially optimal level of liquidity in a retirement savings system? Liquid retirement savings are desirable because liquidity enables agents to flexibly respond to pre-retirement events that raise the marginal utility of consumption. On the other hand, pre-retirement liquidity is...

This paper explores the changing role of government involvement in health care financing policy outside the United States. It provides a review of the economics literature in this area to understand the implications of recent policy changes on efficiency, costs and quality. Our review reveals...

Civil rights legislation of the 1960s made it illegal foran employer to pay men and women on different bases for the same work or to discriminate against women in hiring, job assignment, or promotion. Two decades later, however, the ratio of women's to men's earnings has shown little upward...

Sex-related wage differentials are almost universal. Economists traditionally tend to attribute a major fraction of the differential to the difference in on-the-job training. This difference is in turn often explained by the lower profitability of this investment for women who plan to interrupt...

Of all the changes in the history of women's market work, few have been more impressive than the rapid emergence and feminization of the clerical sector and the related decline in manufacturing employment for women. Although a century ago few women were clerical workers, as early as 1920 22% of...

Single women in the U.S. dominated the female labor force from 1870 to 1920. Data on the home life and working conditions of women in 1888 and 1907 enable the estimation of earnings functions. Work in the manufacturing sector for these women was task oriented and payment was frequently by the...