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作者：Yin, Pai-Ling; Davis, Jason P.; Muzyrya, Yulia
作者单位：Stanford University; INSEAD Business School; University of Michigan System; University of Michigan
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作者：Chang, Yongsung; Kim, Sun-Bin
作者单位：University of Rochester; Yonsei University; Yonsei University
摘要：Takahashi (2014) has uncovered coding errors in our paper, Chang and Kim (2007)-henceforth, CK. We acknowledge and are embarrassed by these mistakes. We are grateful to Takahashi for uncovering them. While the correction decreases the volatility of the labor market wedge, we find that the main message of CK remains valid: the measured labor market wedge arises endogenously in an economy with incomplete capital markets and indivisible labor supply. For example, our model accounts for 18 percent...
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作者：Jovanovic, Boyan
作者单位：New York University
摘要：This paper models growth via on-the-job learning when firms and workers are heterogeneous. It is an overlapping generations model in which young agents match with the old. More efficient assignments lead to faster long-run growth, more inequality, and less turnover in the distribution of human capital. Constant-growth paths are characterized for general functional forms and then, for the Cobb-Douglas case, the transition dynamics are solved analytically when the skill of the young is log-norma...
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作者：Aaronson, Daniel; Lange, Fabian; Mazumder, Bhashkar
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; McGill University
摘要：By allowing for an extensive margin in the standard quantity-quality model, we generate new insights into fertility transitions. We test the model on Southern black women affected by a large-scale school construction program. Consistent with our model, women facing improved schooling opportunities for their children were more likely to have at least one child but chose to have smaller families overall. By contrast, women who themselves obtained more schooling due to the program delayed childbe...
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作者：de Clippel, Geoffroy
作者单位：Brown University
摘要：Implementation theory assumes that participants' choices are rational, in the sense of being consistent with the maximization of a context-independent preference. The paper investigates implementation under complete information when individuals' choices need not be rational.
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作者：Benjamin, Daniel J.; Heffetz, Ori; Kimball, Miles S.; Szembrot, Nichole
作者单位：Cornell University; National Bureau of Economic Research; Cornell University; University of Michigan System; University of Michigan
摘要：This paper proposes foundations and a methodology for survey-based tracking of well-being. First, we develop a theory in which utility depends on fundamental aspects of well-being, measurable with surveys. Second, drawing from psychologists, philosophers, and economists, we compile a comprehensive list of such aspects. Third, we demonstrate our proposed method for estimating the aspects' relative marginal utilities-a necessary input for constructing an individual-level well-being index-by aski...
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作者：Manuelli, Rodolfo E.; Seshadri, Ananth
作者单位：Washington University (WUSTL); Federal Reserve System - USA; Federal Reserve Bank - St. Louis; University of Wisconsin System; University of Wisconsin Madison
摘要：We reevaluate the role of human capital in determining the wealth of nations. We use standard human capital theory to estimate stocks of human capital and allow the quality of human capital to vary across countries. Our model can explain differences in schooling and earnings profiles and, consequently, estimates of Mincerian rates of return across countries. We find that effective human capital per worker varies substantially across countries. Cross-country differences in Total Factor Producti...
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作者：Goos, Maarten; Manning, Alan; Salomons, Anna
作者单位：KU Leuven; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Utrecht University
摘要：This paper documents the pervasiveness of job polarization in 16 Western European countries over the period 1993-2010. It then develops and estimates a framework to explain job polarization using routine-biased technological change and offshoring. This model can explain much of both total job polarization and the split into within-industry and between-industry components.
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作者：Stephens, Melvin, Jr.; Yang, Dou-Yan
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research; Carnegie Mellon University
摘要：Causal estimates of the benefits of increased schooling using US state schooling laws as instruments typically rely on specifications which assume common trends across states in the factors affecting different birth cohorts. Differential changes across states during this period, such as relative school quality improvements, suggest that this assumption may fail to hold. Across a number of outcomes including wages, unemployment, and divorce, we find that statistically significant causal estimat...
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作者：Boersch-Supan, Axel; Haertl, Klaus; Ludwig, Alexander
作者单位：Max Planck Society; Max Planck Society; University of Cologne
