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Between 1960 and 1980 the gap in earnings between black and white
males narrowed by 15 percent. A detailed analysis of 1960, 1970, and 1980
Census data indicates that increases in the relative return to education
were largely responsible for…

The paper specifies a disequilibrium model for the aggregate
labor market consisting of demand and supply functions for labor,
an adjustment equation for wages as well as for prices, a
transactions equation and, finally, an equation that relates
measured unemployment…

We examine why some individuals survive as entrepreneurs and others do not. In
addition. we analyze the growth of entrepreneurial enterprises, conditional on surviving. Our
focus is on the role of access to capital--to what extent do liquidity constraints increase…

Two approaches to estimation and testing of fixed effects models are
commonly found in the econometrics literature. The first involves variations on
instrumental variables. The second, a Minimum Chi-Square (MCS) procedure
introduced by Chamberlain, minimizes a quadratic form in the…

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…

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…

This paper examines the properties and prevalence of measurement
error in longitudinal earnings data. The analysis compares Current
Population Survey data to administrative Social Security payroll tax
records for a sample of heads of households over two years. In contrast

This paper develops a model of occupational matching where, within an
occupation, information at one job may be useful for predicting the match at
other jobs. Recent developments in the theory of superprocesses are used to
derive the optimal sampling…

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…