This paper uses aggregate birth year/calendar year level data derived
from the Current Population Survey (CPS) to estimate the effect of Social
Security wealth on the labor supply of older men in the l970s and 1980s.
The analysis focuses on…

This paper assesses the ability of a simple search—theoretic
model to explain the results of two controlled reemployment bonus
experiments. The availability of two independent experiments
with substantially different treatments allows for a rigorous
test of the model. Parameters of…

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…

Veterans of World War II are widely believed to earn more than
nonveterans of the same age. Theoretical justifications for the World War
II veteran premium include the subsidization of education and training, and
preference for veterans in hiring. In…

In this paper we provide theoretical and empirical analyses of an
asymmetric-information model of layoffs in which the current employer is
better informed about its workers’ abilities than prospective employers
are. The key feature of the model is that when…

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This paper reviews and interprets the literature on the effect of
school resources on students‘ eventual earnings and educational
attainment. In addition, new evidence is presented on the impact
of the great disparity in school resources between black and white

The paper studies the determination of wages in the British coal
industry. A utility—maximising model of a trade union is used to
represent the behaviour of the National Union of Mineworkers. A non-
linear structural model is derived and is…

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…