Handbook of Labor Economics, Volume 4A & B Set

Handbook of Labor Economics, Volume 4A & B Set

Orley Ashenfelter, David Card

Language: English

Pages: 1134

ISBN: 0444534687

Format: PDF / Kindle (mobi) / ePub

What factors affect the ways individuals participate in labor markets?

"New Developments and Research on Labor Markets" (volume 4B) proposes answers to this and other questions on important topics of public policy.  Leading labor economists demonstrate how better data and advanced experiments help them apply economic theory, yielding sharper analyses and conclusions.   The combinations of these improved empirical findings with new models enable the authors of these chapters to reveal how labor economists are developing new and innovative ways to measure key parameters and test important hypotheses. 
* Concentrates on empirical research in specific labor markets, including those defined by age, gender, and race
* Reveals how questions and answers about these markets have changed and how models measure them
* Documents how conceptual models and empirical work explain important practical issues

Development and Sustainability: The Challenge of Social Change

True Wealth: How and Why Millions of Americans Are Creating a Time-Rich, Ecologically Light, Small-Scale, High-Satisfaction Economy

Political Economy for Socialism

What's the Economy For, Anyway?: Why It's Time to Stop Chasing Growth and Start Pursuing Happiness











BPP’s estimates using PSID and CEX data conform to values obtained from calibrating their theoretical model. Kaplan and Violante (2009) calibrate their model to match the US data. Survival rates are obtained from the NCHS, the intertemporal discount rate is calibrated to match a wealth-income ratio of 2.5, the permanent shock parameters (σζ2 and the variance of the 21 There are two differences though: Blundell et al. (2008b) allow for an MA(1) transitory component (while in Kaplan and Violante

due to different school leaving ages). Generally, as we will show, the existence of classical measurement error causes problems in the identification of the transitory shock process. .47 .42 .37 .1 .27 .32 Var(log(y)), smoothed .25 .2 .15 Var(log(c)), smoothed .3 .52 .35 Earnings, Consumption and Life Cycle Choices 30 40 50 60 70 Age Figure 3 The variance of log income (from the PSID, dashed line) and log consumption (from the CEX, continuous line) over the life cycle. There

unit root hypothesis; moreover the variance of f i is significantly different from zero. On the basis of this, the best fitting model would be heterogeneous income profiles with a reasonably persistent transitory shock. Nevertheless, there still is a puzzle: the autocovariances of residual income growth of order higher than two are all very small and individually insignificant. Baker directly tests that these are indeed jointly zero and despite the apparent insignificance of all of them

91 (1–2), 259–279. Dickens, Richard., 2000. The evolution of individual male earnings in Great Britain: 1975-95. The Economic Journal 110 (460), 27–49. Dominitz, Jeff, Manski, Charles, 1997. Using expectations data to study subjective income expectations. Journal of the American Statistical Association 92 (439), 855–867. Dynarski, Susan, Gruber, Jonathan, 1997. Can families smooth variable earnings? Brooking Papers on Economic Activity 1, 229–305. The Economist, 2007. Shifting Sand. January 6:

In middle schools we assign teachers according to subject: for math (resp. ELA) assessment scores, we compare students with the same math (resp. ELA) teacher. In Dallas, there are 1950 distinct teachers in the sample, with an average of 14 students per teacher. In New York City, there are 16,398 ELA teachers and 16,069 math teachers, with an average of about 25 students per teacher (note that in grades three through five, the vast majority of students have the same teacher for both ELA and math,

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