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Showing results 1 to 10 of approximately 185.
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Working Paper
Taxing top earners: a human capital perspective
Badel, Alejandro; Huggett, Mark
(2014-07-23)
We assess the consequences of substantially increasing the marginal tax rate on U.S. top earners using a human capital model. The top of the model Laffer curve occurs at a 53 percent top tax rate. Tax revenues and the tax rate at the top of the Laffer curve are smaller compared to an otherwise similar model that ignores the possibility of skill change in response to a tax reform. We also show that if one applies the methods used by Diamond and Saez (2011) to provide quantitative guidance for setting the tax rate on top earners to model data then the resulting tax rate exceeds the tax rate at ...
Working Papers
, Paper 2014-17
Working Paper
Explaining Cross-Cohort Differences in Life Cycle Earnings
Vandenbroucke, Guillaume; Ravikumar, B.; Kong, Yu-Chien
(2015-10-01)
College-educated workers entering the labor market in 1940 experienced a 4-fold increase in their labor earnings between the ages of 25 and 55; in contrast, the increase was 2.6-fold for those entering the market in 1980. For workers without a college education these figures are 3.6-fold and 1.5-fold, respectively. Why are earnings profiles flatter for recent cohorts? We build a parsimonious model of schooling and human capital accumulation on the job and calibrate it to earnings statistics of workers from the 1940 cohort. The model accounts for 99 percent of the flattening of earnings ...
Working Papers
, Paper 2015-35
Working Paper
Firms as Learning Environments: Implications for Earnings Dynamics and Job Search
Gregory, Victoria
(2023-09)
This paper demonstrates that heterogeneity in firms' promotion of human capital accumulation is an important determinant of life-cycle earnings inequality. To arrive at this finding, I develop a life-cycle search model with heterogeneous workers and firms. In the model, a worker's earnings can grow through both human capital accumulation and labor market competition channels. Human capital growth depends on both the worker's ability and the firm's learning environment. I apply the model to administrative micro data from Germany. While bringing the model to the data, I find evidence of ...
Working Papers
, Paper 2020-036
Working Paper
Job Polarization and the Natural Rate of Unemployment in the United States
Tuzemen, Didem
(2018-03-15)
I present a new estimate of the natural rate of unemployment in the United States that accounts for changes in the age, sex, and skill composition of the labor force. Using micro-level data from the Current Population Survey for the period 1994-2017, I find that the natural rate of unemployment declined by 0.5 percentage point since 1994 and currently stands at 4.5 percent. My projections show that ongoing demographic and technological changes could lower the trend rate further to 4.4 percent by the end of 2022.
Research Working Paper
, Paper RWP 18-3
Report
Knowledge in cities
Ross, Adrienne; Stolarick, Kevin; Abel, Jaison R.; Gabe, Todd M.
(2010-09-01)
This study identifies clusters of U.S. and Canadian metropolitan areas with similar knowledge traits. These groups?ranging from Making Regions, characterized by knowledge about manufacturing, to Thinking Regions, noted for knowledge about the arts, humanities, information technology, and commerce?can be used by analysts and policymakers for the purposes of regional benchmarking or comparing the types of programs and infrastructure available to support closely related economic activities. In addition these knowledge-based clusters help explain the types of regions that have levels of economic ...
Staff Reports
, Paper 470
Working Paper
Technology and the Task Content of Jobs across the Development Spectrum
Caunedo, Julieta; Keller, Elisa; Shin, Yongseok
(2022-09-29)
The tasks workers perform on the job are informative about the direction and the impact of technological change. We harmonize occupational task content measures between two worker-level surveys, which separately cover developing and developed countries. Developing countries use routine-cognitive tasks and routine-manual tasks more intensively than developed countries, but less intensively use non-routine analytical tasks and non-routine interpersonal tasks. This is partly because developing countries have more workers in occupations with high routine contents and fewer workers in occupations ...
Working Papers
, Paper 2022-035
Working Paper
What Do Data on Millions of U.S. Workers Reveal about Life-Cycle Earnings Risk?
Song, Jae; Karahan, Fatih; Guvenen, Fatih; Ozkan, Serdar
(2015-01-30)
We study the evolution of individual labor earnings over the life cycle using a large panel data set of earnings histories drawn from U.S. administrative records. Using fully nonparametric methods, our analysis reaches two broad conclusions. First, earnings shocks display substantial deviations from lognormality?the standard assumption in the incomplete markets literature. In particular, earnings shocks display strong negative skewness and extremely high kurtosis?as high as 30 compared with 3 for a Gaussian distribution. The high kurtosis implies that in a given year, most individuals ...
Working Papers
, Paper 719
Discussion Paper
Delaying College During the Pandemic Can Be Costly
Abel, Jaison R.; Deitz, Richard
(2020-07-13)
Many students are reconsidering their decision to go to college in the fall due to the coronavirus pandemic. Indeed, college enrollment is expected to be down sharply as a growing number of would-be college students consider taking a gap year. In part, this pullback reflects concerns about health and safety if colleges resume in-person classes, or missing out on the “college experience” if classes are held online. In addition, poor labor market prospects due to staggeringly high unemployment may be leading some to conclude that college is no longer worth it in this economic environment. ...
Liberty Street Economics
, Paper 20200713
Working Paper
Parenthood and productivity of highly skilled labor: evidence from the groves of academe
Ursprung, Heinrich W.; Krapf, Matthias; Zimmermann, Christian
(2014-01-11)
We examine the effect of pregnancy and parenthood on the research productivity of academic economists. Combining the survey responses of nearly 10,000 economists with their publication records as documented in their RePEc accounts, we do not find that motherhood is associated with low research productivity. Nor do we find a statistically significant unconditional effect of a first child on research productivity. Conditional difference-in-differences estimates, however, suggest that the effect of parenthood on research productivity is negative for unmarried women and positive for untenured ...
Working Papers
, Paper 2014-1
Working Paper
Firms as Learning Environments: Implications for Earnings Dynamics and Job Search
Gregory, Victoria
(2021-01-28)
This paper demonstrates that heterogeneity in firms’ promotion of human capital accumulation is an important determinant of life-cycle earnings inequality. I use administrative micro data from Germany to show that different establishments offer systematically different earnings growth rates for their workers. This observation suggests that that the increase in inequality over the life cycle reflects not only inherent worker variation, but also differences in the firms that workers happen to match with over their lifetimes. To quantify this channel, I develop a life-cycle search model with ...
Working Papers
, Paper 2020-036
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part-time work 1 items
peer effects 1 items
persistence 1 items
place effect. 1 items
population aging 1 items
population decline 1 items
prime-age male labor force participation 1 items
productivity slowdown 1 items
promotion 1 items
propensity score weighting 1 items
recessions 1 items
recovery training 1 items
relative earnings 1 items
research productivity 1 items
risk premia 1 items
robots 1 items
search duration 1 items
self-selection bias 1 items
skill price 1 items
small business 1 items
social capital 1 items
social mobility 1 items
sorting 1 items
spatial equilibrium 1 items
specific human capital 1 items
stepping stone 1 items
structural transformation 1 items
student debt 1 items
subjective expectations 1 items
sufficient statistics 1 items
switching regression 1 items
task 1 items
time use 1 items
time-varying discounts 1 items
tools 1 items
trade 1 items
training 1 items
tuition 1 items
uncertainty 1 items
unemployment fluctuations 1 items
unemployment insurance benefits 1 items
unskilled 1 items
upskilling 1 items
urban-rural 1 items
venture capital 1 items
veterans 1 items
vocational education 1 items
wage differentials 1 items
wage dispersion 1 items
wage inequality 1 items
wage-hour relation 1 items
work from home 1 items
worker productivity 1 items
workplace preferences 1 items
young adult outcomes 1 items
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