Labor unions directly affect wages, employment, industrial structure, and inequality. But unions also influence the economy and labor market indirectly through their effects on politics, providing candidates with voters, volunteers, and contributions, and lobbying on public policy. We use the...

Labor unions play a central role in the Democratic party coalition, providing candidates with voters, volunteers, and contributions, as well as lobbying policymakers. Has the sustained decline of organized labor hurt Democrats in elections and shifted public policy? We use the enactment of...

What was the return to education in the United States at mid-century? In 1940, the correlation between years of schooling and earnings was relatively low, less than it had been in 1915 or than it would be in later decades. In this paper, we estimate the causal return to schooling in 1940,...

We propose a novel approach to estimate household income uncertainty at various future horizons, and characterize how the estimated uncertainty evolves over the life cycle. We measure income uncertainty as the variance of linear forecast errors conditional on information available to households...