According to standard economic models, adverse demand shocks will lead to bigger
employment losses if institutional factors like minimum wages and trade unions prevent real
wages from falling. Some economists have argued that this insight explains the contrast
between the…

Economists attempting to explain the widening of the black-white wage gap in the late 1970's by
differences in school quality have been faced the problem that recent data reveal virtually no gap in the
quality of schools attended by blacks…

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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…

This paper examines tax return-generated data on the labor force behavior of people
before and after they receive inheritances. The results are consistent with Andrew Camegie’s
century-old assertion that large inheritances decrease a person's labor force participation. For
example, a…

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

This paper investigates the effect of entrepreneurs’ personal income tax situations on their
use of labor. We analyze the income tax returns of a large number of sole proprietors before and
after the Tax Reform Act of 1986 and determine…