One of the most widely estimated regression equations in economics is that of the earnings or wage function, which relates a measure of market remuneration (e.g., hourly wage rates, annual earnings) to measures of human capital stocks such as completed schooling and market work experience. In...

In this paper, we present a unified treatment of and explanation for the evolution of wages and employment in the U.S. over the last 30 years. Specifically, we account for the pattern of changes in wage inequality, for the increased relative wage and employment of women, for the emergence of the...

In this paper, we study the relationship among schooling, youth employment and youth crime. The framework, a multinomial discrete choice vector autoregression, provides a comprehensive analysis of the dynamic interactions among a youth's schooling, work and crime decisions and arrest and...