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The general equilibrium analysis of many important labor market issues is very different in an economy that is open to international trade than an economy (like the US in the 1950s) in which trade is not very important. Despite the fact that individual national economies have become increasingly...
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The chapter presents a discussion on the role of microdata in labor economics research. The chapter begins with a review of characteristics of papers published in selected journals (1965-83) in the field of labor economics. This review demonstrates the changing character of the field in terms of...
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Using a unique set of household level panel data, we estimate the effect of capital gains on saving by asset type, controlling for observable and unobservable household specific fixed effects. The results suggest that the decline in the personal saving rate since 1984 is largely due to the...
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This paper deals with methodological issues that arise in measuring household wealth. Two prominent American household surveys--the PSID and SCF--rely on different methodological approaches to the measurement of household wealth. In particular, SCF oversamples high-income households and has a...
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