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The law of one wage does not strictly hold, nor should it be expected to hold, in contemporary labor markets. The law of one wage, however, provides a surprisingly good first approximation of the structure of U.S. wages. This generalization is drawn from research on a diverse set of topics: the...
Persistent link: https://www.econbiz.de/10003656939
Financial markets provide imperfect insurance of labor income risk. However, workers can partly insure against labor market risk by commuting to adjacent regions. Since commuters own wage claims to output produced in adjacent regions, the business cycle in the neighborhood becomes a relevant...
Persistent link: https://www.econbiz.de/10003656940
Increasing interest in voucher programs and privatizing public schools reveals a commonly-held belief that private schools are better able to produce a quality education. While state and national standards do not directly affect these schools, their private control yields strong student...
Persistent link: https://www.econbiz.de/10003661546
High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well-being. This paper studies the importance of individual economic security, in particular job security, in workers' well-being by exploiting sector-specific institutional differences...
Persistent link: https://www.econbiz.de/10003661548
This paper is concerned with trends over the post-WWII period in the employment of American Jews as College and University teachers and in their receipt of the PhD. The empirical analysis is for PhD production from 1950 to 2004 and Jews are identified by the Distinctive Jewish Name (DJN)...
Persistent link: https://www.econbiz.de/10003661549
This paper uses multiple data sources and a unified methodology to estimate the trends and levels of the U.S. high school graduation rate. Correcting for important biases that plague previous calculations, we establish that (a) the true high school graduation rate is substantially lower than the...
Persistent link: https://www.econbiz.de/10003666461
This paper develops a framework for studying individuals' ideas about what constitutes just compensation for chief executive officers (CEOs) and reports estimates of just CEO pay and the principles guiding ideas of justice. The sample consists of students pursuing a Master of Business...
Persistent link: https://www.econbiz.de/10003666463
In this paper, we evaluate the impact of unilateral divorce on crime. First, using crime rates from the FBI's Uniform Crime Report program for the period 1965-1998 and differences in the timing in the introduction of the reform, we find that unilateral divorce has a positive impact on violent...
Persistent link: https://www.econbiz.de/10003666464
Many contributions suggest that earnings instability has increased during the 1980s and 1990s. This paper develops and estimates an on-the-job search model of the labor market to study the contribution of wage inequality and job mobility in explaining earnings instability. To study the evolution...
Persistent link: https://www.econbiz.de/10003666471
High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well-being. This paper studies the importance of individual economic security, in particular job security, in workers' well-being by exploiting sectorspecific institutional differences in...
Persistent link: https://www.econbiz.de/10003667024