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Report
How Should Tax Progressivity Respond to Rising Income Inequality?
Heathcote, Jonathan; Storesletten, Kjetil; Violante, Giovanni L. (2020-10-19)
We address this question in a heterogeneous-agent incomplete-markets model featuring exogenous idiosyncratic risk, endogenous skill investment, and flexible labor supply. The tax and transfer schedule is restricted to be log-linear in income, a good description of the US system. Rising inequality is modeled as a combination of skill-biased technical change and growth in residual wage dispersion. When facing shifts in the income distribution like those observed in the US, a utilitarian planner chooses higher progressivity in response to larger residual inequality but lower progressivity in ...
Staff Report , Paper 615

Journal Article
On the aggregate labor supply
Kim, Sun-Bin; Chang, Yongsung (2005)
Economic Quarterly , Volume 91 , Issue Win , Pages 21-37

Journal Article
Income inequality and redistribution in five countries
Ren, Liqian; De Nardi, Mariacristina; Wei, Chao (2000)
This article studies income inequality in five countries and compares the redistributive consequences of taxes and transfers across these countries.
Economic Perspectives , Volume 25 , Issue Q II , Pages 2-20

Journal Article
Jobs wanted: Will work for (next to) nothing
Wirtz, Ronald A. (2000)
Fedgazette , Volume 12 , Issue Jan , Pages 10-12

Journal Article
The new labor paradigm: more market-responsive rules of work and pay
Duca, John V. (1998)
Southwest Economy , Issue May , Pages 6-8, 12

Briefing
Additional slack in the economy: the poor recovery in labor force participation during this business cycle
Bradbury, Katharine L. (2005)
This public policy brief examines labor force participation rates in this recession and recovery and compares them with the cyclical patterns in earlier business cycles. Measured relative to the business cycle peak in March 2001, labor force participation rates almost four years later have not recovered as much as usual, and the discrepancies are large. ; Among age-by-sex groups, the participation shortfall is especially pronounced at young and prime ages: Only for men and women age 55 and older has participation risen more than is usual four years after the business cycle peak. ; The brief ...
Public Policy Brief

Newsletter
Workforce 2020 conference summary
Lommel, Jane M. (1999)
Chicago Fed Letter , Issue Apr

Journal Article
The District economic outlook : responding to labor shortages and overseas problems
Gazel, Ricardo C.; Wilkerson, Chad R. (1999)
The Tenth District economy slowed down in 1998, with employment growing marginally below the national average. Despite very tight labor markets, employment growth remained healthy in many sectors. Construction; trade; transportation, communications, and public utilities; and finance, insurance, and real estate---all posted healthy gains. The manufacturing and service sectors, however, turned in weak growth, a result of the Asian financial turmoil and a shortage of skilled workers throughout the district. District agriculture had a difficult year, as commodity prices plunged in the face of ...
Economic Review , Volume 84 , Issue Q I , Pages 93-109

Journal Article
The hard hat blues
Wirtz, Ronald A. (2005)
Why do good jobs go begging in certain sectors?
Fedgazette , Volume 17 , Issue Jan , Pages 6-8

Journal Article
Tighter labor markets?
Runyon, Herbert (1973)
FRBSF Economic Letter

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