No Abstract available

This paper develops a general test of factor price equalization that is robust to unobserved regional productivity differences, unobserved region-industry factor quality differences and variation in production technology across industries. We test relative factor price equalization across...

This chapter surveys existing approaches to modeling labor supply and identifies important gaps in the literature that could be addressed in future research. The discussion begins with a look at recent policy reforms and labor market facts that motivate the study of labor supply. The analysis...

There is a striking increase in inequality in children's home environments over the last 50 years (McLanahan, 2004). These are measured as differences in age of mothers of young children (below 5), maternal employment, single motherhood, divorce during the first 10 years of marriage, father's...

No Abstract available

<p>We compare the key assumptions underpinning estimates of the pension wealth of ELSA respondents to outcomes over the period from 2002-03 to 2004-05. We find that many of these assumptions have, on average, proved cautious or reasonable. Improving pension wealth calculations using this new...</p>

In this paper we reassess the evidence on labor income risk. There are two leading views on the nature of the income process in the current literature. The first view, which we call the "Restricted Income Profiles" RIP process, holds that individuals are subject to large and very persistent...

Forthcoming

There is much debate over whether the life-cycle model of consumption can explain consumption growth patterns patterns observed in household level data sources. We argue that once one departs from simple classroom example, or 'stripped down life-cycle model', the empirical model for consumption...