The proportion of multiple jobholders (moonlighters) is negatively correlated with productivity (wages) in cross … seemingly contradictory facts. An income effect explains the negative correlation with productivity while a comparative advantage … data. There are three exogenous driving forces: productivity, number of children and the proportion of skilled workers. The …

Standard heterogeneous agent macro models that highlight idiosyncratic productivity shocks do not generate the near … market productivity. While both extensions can match the empirical correlation, they have large and opposing effects on the …