Search Results

Showing results 1 to 10 of approximately 176.

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Report
Jacks of All Trades and Masters of One: Declining Search Frictions and Unequal Growth
Menzio, Guido; Martellini, Paolo (2020-09-23)
Declining search frictions generate productivity growth by allowing workers to find jobs for which they are better suited. The return of declining search frictions on productivity varies across different types of workers. For workers who are "jacks of all trades" in the sense that their productivity is nearly independent from the distance between their skills and the requirements of their job—declining search frictions lead to minimal productivity growth. For workers who are "masters of one trade" in the sense that their productivity is very sensitive to the gap between their individual ...
Staff Report , Paper 613

Working Paper
Explaining Cross-Cohort Differences in Life Cycle Earnings
Vandenbroucke, Guillaume; Ravikumar, B.; Kong, Yu-Chien (2015-10-01)
College-educated workers entering the labor market in 1940 experienced a 4-fold increase in their labor earnings between the ages of 25 and 55; in contrast, the increase was 2.6-fold for those entering the market in 1980. For workers without a college education these figures are 3.6-fold and 1.5-fold, respectively. Why are earnings profiles flatter for recent cohorts? We build a parsimonious model of schooling and human capital accumulation on the job and calibrate it to earnings statistics of workers from the 1940 cohort. The model accounts for 99 percent of the flattening of earnings ...
Working Papers , Paper 2015-35

Report
Underemployment in the early careers of college graduates following the Great Recession
Abel, Jaison R.; Deitz, Richard (2015-12-01)
Though labor market conditions steadily improved following the Great Recession, underemployment among recent college graduates continued to climb, reaching highs not seen since the early 1990s. In this paper, we take a closer look at the jobs held by underemployed college graduates in the early stages of their careers during the first few years after the Great Recession. Contrary to popular perception, we show that relatively few recent graduates were working in low-skilled service jobs, and that many of the underemployed worked in fairly well paid non-college jobs requiring some degree of ...
Staff Reports , Paper 749

Working Paper
Neighborhood Dynamics and the Distribution of Opportunity
Aliprantis, Dionissi; Carroll, Daniel R. (2015-10-22)
Wilson (1987) argued that policies ending racial discrimination would not equalize opportunity without addressing residential sorting and neighborhood externalities. This paper studies related counterfactual policies using an overlapping-generations dynamic general equilibrium model of residential sorting and intergenerational human capital accumulation. In the model, households choose where to live and how much to invest toward the production of their child?s human capital. The return on parents? investment is determined in part by the child?s ability and in part by an externality determined ...
Working Papers (Old Series) , Paper 1525

Report
Optimal Tax Progressivity: An Analytical Framework
Violante, Giovanni L.; Heathcote, Jonathan; Storesletten, Kjetil (2014-01-31)
What shapes the optimal degree of progressivity of the tax and transfer system? On the one hand, a progressive tax system can counteract inequality in initial conditions and substitute for imperfect private insurance against idiosyncratic earnings risk. At the same time, progressivity reduces incentives to work and to invest in skills, and aggravates the externality associated with valued public expenditures. We develop a tractable equilibrium model that features all of these trade-offs. The analytical expressions we derive for social welfare deliver a transparent understanding of how ...
Staff Report , Paper 496

Working Paper
Saving and Wealth Accumulation among Student Loan Borrowers: Implications for Retirement Preparedness
Dettling, Lisa J.; Goodman, Sarena F.; Reber, Sarah (2022-04-01)
Borrowing for education has increased rapidly in the past several decades, such that the majority of non-housing debt on US households' balance sheets is now student loan debt. This chapter analyzes the implications of student loan borrowing for later-life economic well-being, with a focus on retirement preparation. We demonstrate that families holding student loan debt later in life have less savings than their similarly educated peers without such debt. However, these comparisons are misleading if the goal is to characterize the experience of the typical student borrower, as they fail to ...
Finance and Economics Discussion Series , Paper 2022-019

Journal Article
Why Are Life-Cycle Earnings Profiles Getting Flatter?
Vandenbroucke, Guillaume; Ravikumar, B. (2017)
The authors present a simple, two-period model of human capital accumulation on the job and through college attainment. They use a calibrated version of the model to explain the observed flattening of the life-cycle earnings profiles of two cohorts of workers. The model accounts for more than 55 percent of the observed flattening for high school-educated and for college-educated workers. Two channels generate the flattening in the model: selection (or higher college attainment) and a higher skill price for the more recent cohort. Absent selection, the model would have accounted for no ...
Review , Volume 99 , Issue 3 , Pages 245-57

Working Paper
Education Policies and Structural Transformation
Monge-Naranjo, Alexander; Torres de Mello Pereira, Luciene; Cavalcanti Ferreira, Pedro (2014-10-29)
This article studies the impact of education and fertility in structural transformation and growth. In the model there are three sectors, agriculture, which uses only low-skill labor, manufacturing, that uses high-skill labor only and services, that uses both. Parents choose optimally the number of children and their skill. Educational policy has two dimensions, it may or may not allow child labor and it subsidizes education expenditures. The model is calibrated to South Korea and Brazil, and is able to reproduce some key stylized facts observed between 1960 and 2005 in these economies, such ...
Working Papers , Paper 2014-39

Working Paper
Multidimensional Skill Mismatch
Guvenen, Fatih; Kuruscu, Burhanettin; Tanaka, Satoshi; Wiczer, David (2015-09-02)
What determines the earnings of a worker relative to his peers in the same occupation? What makes a worker fail in one occupation but succeed in another? More broadly, what are the factors that determine the productivity of a worker-occupation match? In this paper, we propose an empirical measure of skill mismatch for a worker-occupation match, which sheds light on these questions. This measure is based on the discrepancy between the portfolio of skills required by an occupation and the portfolio of abilities possessed by a worker for learning those skills. This measure arises naturally in a ...
Working Papers , Paper 2015-22

Working Paper
The Slaughter of the Bison and Reversal of Fortunes on the Great Plains
Gillezeau, Rob; Feir, Donna; Jones, Maggie E. C. (2019-01-14)
In the late 19th century, the North American bison was brought to the brink of extinction in just over a decade. We show that the bison?s slaughter led to a reversal of fortunes for the Native Americans who relied on them. Once the tallest people in the world, the generations of bison-reliant people born after the slaughter were among the shortest. Today, formerly bison-reliant societies have between 20-40% less income per capita than the average Native American nation. We argue that federal Indian policy that limited out-migration from reservations and restricted employment opportunities to ...
Center for Indian Country Development series , Paper 1-2019

show more (137)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords