Utilizing a large dataset on U.S. federal government employees covering 24 years, we estimate and analyze the persistent wage effect of entering government employment during recessions for recent college graduates and other new employees. Contrary to previous results in the literature for...

Utilizing a large dataset on U.S. federal government employees covering 24 years, we estimate and analyze the persistent wage effect of entering government employment during recessions for recent college graduates and other new employees. Contrary to previous results in the literature for...

This paper studies a semiparametric inference procedure for a finite-dimensional parameter in a continuous-time regression model involving high-frequency data in a large cross-section. The model concerns the relationship between a noisy dependent process and a possibly nonlinear transform of...