Recent development of explicit theoretical and empirical earnings functions from life cycle human capital investment models increases the potential to explain existing earnings distributions and to predict changes in it. The purpose of this paper is to suggest how these earnings functions can be...

The purpose of this paper is to develop and test a dynamic labor supply model which incorporates the essential features of these previous models. The issues of permanent and transitory effects and of cross section versus time series can be addressed much more directly given the recent...

This paper proposes an econometric methodology to deal with life cycle earnings and mobility among discrete earnings classes. First, we use panel data on male log earnings to estimate an earnings function with permanent and serially correlated transitory components due to both measured and...

The objective of this paper is to draw some inferences concerning the relative magnitudes of inequality in annual earnings, the traditional measure, and in human wealth, the measure suggested by recent literature. A second objective is to assess the relative importance of schooling, measured...

The purpose of this paper is to outline a set of conditions under which human wealth is an index of well-being in a life cycle as prefatory to empirical estimates earnings and human wealth distributions for the1960 Census population