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This paper reports nonparametric estimates of the effect of labor supply
behavior on the payments to families enrolled in the Seattle/Denver Income
Maintenance Experiment. The randomized assignment of families to the
treatment groups in this experiment was designed to permit…

Unlike existing models which rely heavily on assumptions regarding unions’
distributional preferences, we present a very simple model in which union
seniority-layoff rules and rising seniority-wage profiles result from
optimal price discrimination against the firm. Surprisingly, even when
cash transfers…

A model of unemployment duration is estimated with weekly micro
data on a sample of Canadian men during the 1975 through 1980 period.
Entitlement provisions in the unemployment insurance program and demand
conditions are found to have a significant impact…

This paper presents new evidence on the reasons for the recent decline in
the fraction of unemployed workers who receive unemployment insurance benefits.
Using samples of unemployed workers from the March Current Population Survey,
we estimate the fraction of unemployed…

This paper analyzes the role of liquidity constraints in the formation of new
entrepreneurial enterprises. The basic empirical strategy is to determine whether an
individual's wealth affects the probability of becoming an entrepreneur, and the conditional
amounts of depreciable assets…

This paper seeks to identify the characteristics of applicants to
graduate school in economics that predict successful job placement after
completion of graduate school. Although there is considerable uncertainty in
predicting the success of prospective Ph.D. students, the results indicate…

Inequality in the unconditional distribution of observed wage rates in the U.S. rose substan-
tially during the 1980s, mostly in the lower tail of the distribution. The causes of this rising
wage inequality are obscured by the fact that concurrent…

One of the best documented relationships in economics is the link between education and
income: higher educated people have higher incomes. Advocates argue that education provides
skills, or human capital, that raises an individual‘s productivity. Critics argue that the documented

Anecdotal evidence suggests that uncontrolled managers let wages rise above competitive levels.
Testing this popular perception has proven difficult, however, because independent variation in the
extent of managerial discretion is needed. In this paper, we use states’ passage of anti-takeover