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Discussion Paper
Benefits Cliffs as a Barrier to Career Advancement for Low-Income Adults: Insights from Employment Services Providers
Ruder, Alexander; Siwicki, Julie; Terry, Ellyn; Toyin-Adelaja, Tamilore (2020-03-01)
How do employment service providers explain benefits cliffs to clients who want to advance in their careers? To answer this question, the authors conducted three focus groups with a range of employment service providers. Focus group participants report that counselors and clients struggle to manage benefits loss because of a lack of clarity on program rules and difficulty finding appropriate jobs that pay enough to outweigh the loss of benefits. When advising clients about career advancement, counselors use a range of intake processes to determine clients’ immediate needs and assess their ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2020-02

Working Paper
On Intergenerational Immobility : Evidence that Adult Credit Health Reflects the Childhood Environment
Goodman, Sarena; Volz, Alice Henriques; Mezza, Alvaro (2017-03)
Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and cannot be used by credit agencies in assigning risk, background is a strong predictor of adult credit health. A relationship remains upon inclusion of achievement, attainment, and debt management metrics. These findings reveal a new dimension along which childhood circumstances persist into adulthood and imply that the many important contexts in which credit scores are relied upon to evaluate individuals ...
Finance and Economics Discussion Series , Paper 2017-032

Working Paper
The Macroeconomic Consequences of Early Childhood Development Policies
Daruich, Diego (2018-10-11)
To study long-run large-scale early childhood policies, this paper incorporates early childhood investments into a standard general-equilibrium (GE) heterogeneous-agent overlapping-generations model. After estimating it using US data, we show that an RCT evaluation of a short-run small-scale early childhood program in the model predicts effects on children's education and income that are similar to the empirical evidence. A long-run large-scale program, however, yields twice as large welfare gains, even after considering GE and taxation effects. Key to this difference is that investing in a ...
Working Papers , Paper 2018-29

Journal Article
Intergenerational Mobility and the Effects of Parental Education, Time Investment, and Income on Children’s Educational Attainment
Soytas, Mehmet A.; Gayle, George-Levi; Golan, Limor (2018)
This article analyzes the mechanisms through which parents? and children?s education are linked. It estimates the causal effect of parental education, parental time with children, and parental income during early childhood on the educational outcomes of children. Estimating the causal effects of time with children, income, and parental education is challenging because parental time with children is usually unavailable in many datasets and because of the problem of endogeneity of parental income, time with children, and education. The authors, therefore, use an instrumental variables approach ...
Review , Volume 100 , Issue 3 , Pages 281-95

Working Paper
Minimum Wage Increases and Vacancies
Tasci, Murat; Tuzemen, Didem; Kudlyak, Marianna (2020-12-30)
We estimate the impact of minimum wage increases on the quantity of labor demanded as measured by firms’ vacancy postings. We use proprietary, county-level vacancy data from the Conference Board’s Help Wanted Online to analyze the effects of minimum wage increases on the quantity of labor demanded. Our identification relies on the disproportionate effects of minimum wage hikes on different occupations, as the wage distribution around the binding minimum wage differs by occupation. We find that minimum wage increases during the 2005–18 period led to substantial declines in vacancy ...
Research Working Paper , Paper RWP 20-22

Working Paper
International trade and labor reallocation: misclassification errors, mobility, and switching costs
Dvorkin, Maximiliano (2022-08-12)
Over the last few decades, international trade has increased at a rapid pace, altering domestic production and labor demand in different sectors of the economy. A growing literature studies the heterogeneous effects of trade shocks on workers’ employment and on welfare when reallocation decisions are costly. The estimated effects critically depend on data on workers’ reallocation patterns, which is typically plagued with coding errors. In this paper, I study the consequences of misclassification errors for estimates of the labor market effects of international trade and show that ...
Working Papers , Paper 2021-014

Working Paper
International trade and labor reallocation: misclassification errors, mobility, and switching costs
Dvorkin, Maximiliano (2021-12-08)
Over the last few decades, international trade has increased at a rapid pace, altering domestic production and labor demand in different sectors of the economy. A growing literature has studied the heterogeneous effects of trade shocks on workers’ industry and occupation employment and on welfare when reallocation decisions are costly. The estimated effects critically depend on data on workers’ reallocation patterns, which is typically plagued with coding errors. In this paper, I study the consequences of misclassification errors for estimates of the labor market effects of international ...
Working Papers , Paper 2021-014

Working Paper
The Cross-Section of Labor Leverage and Equity Returns
Donangelo, Andres; Gourio, François; Kehrig, Matthias; Palacios, Miguel (2017-09-04)
Using a standard production model, we demonstrate theoretically that, even if labor is fully flexible, it generates a form of operating leverage if (a) wages are smoother than productivity and (b) the capital-labor elasticity of substitution is strictly less than one. Our model supports using labor share?the ratio of labor expenses to value added?as a proxy for labor leverage. We show evidence for conditions (a) and (b), and we demonstrate the economic significance of labor leverage: High labor-share firms have operating profits that are more sensitive to shocks, and they have higher expected ...
Working Paper Series , Paper WP-2017-22

Working Paper
Family characteristics and macroeconomic factors in U. S. intragenerational family income mobility, 1978–2014
Bradbury, Katharine L. (2018-10-01)
Family economic mobility has been a policy concern for decades, with interest heating up further since the 1990s. Using data that tracks individual families? incomes during overlapping 10-year periods from 1978 through 2014, this paper investigates the relationships of factors ? family characteristics and macro influences ? to intragenerational mobility and whether the importance of those factors has changed over time. Family characteristics include both levels of work behavior and family structure and within-period changes in those factors, as well as time-invariant characteristics of the ...
Working Papers , Paper 19-1

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