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Structural demand shifts and potential labor supply responses in the new century

It is widely recognized that inequality of labor market earnings in the United States grew dramatically in recent decades. Over the course of more than three decades, wage growth was weak to nonexistent at the bottom of the distribution, strong at the top of the distribution, and modest at the middle. While real hourly earnings of workers in the bottom 30 percent of the earnings distribution rose by no more than 10 percentage points, earnings of workers at the 90th percentile rose by more than 40 percentage points. What is much less widely known, however, is that this smooth, monotone growth ...
Monograph , Paper 52

Cyclical movements along the labor supply function

A consensus in macroeconomics holds that the observed higher-frequency movements in employment and hours of work are movements along a labor-supply function caused by shifts of the labor demand function. Recent theoretical thinking has extended this view to include fluctuations in unemployment, so that macroeconomists can speak coherently of movements along an unemployment function caused by shifts in labor demand.
Monograph , Paper 52

Journal Article
Changes in the structure of wages: a regional comparison

This article sets out to examine changes in the structure of mens wages in the 1980s, on a regional basis. The analysis corroborates evidence presented by other authors of a rising return to skill in the United States during the decade. It also demonstrates that the changes in wage structure were not uniform across regions. ; The wages of college graduates rose in all regions relative to the less educated, but to varying extents and perhaps for different reasons. The study finds that changes in relative supplies of labor were generally not behind the rising returns to skill. Rising returns to ...
New England Economic Review , Issue Jul , Pages 45-61

Journal Article
CEO incentive contracts, monitoring costs, and corporate performance

The after-tax real wage of the average worker in the United States has fallen 13 percent in the last 20 years, while the average chief executive officer has received a pay raise of over 300 percent. This glaring contrast has sparked a flood of papers analyzing CEO compensation contracts. One of the main justifications for the extraordinary pay of top CEOs is that they receive contracts that link CEO compensation to the performance of the firm. The empirical literature, however, has found little evidence that CEO contracts provide such incentives. The compensation of CEOs appears to respond ...
New England Economic Review , Issue Jan , Pages 39-50

Journal Article
Earnings inequality: proceedings of a symposium on spatial and labor market contributions to earnings inequality, held on November 17, 1995

Although the increase in earnings inequality in the 1980s and 1990s has been well documented, its causes are still being studied and debated. Some explanations revolve around changes in job skills, job requirements, and labor market institutions. Other explanations focus on the deteriorating quality of many urban neighborhoods and the increasing economic isolation of their residents. A symposium at the Federal Reserve Bank of Boston on November 17, 1995, brought together experts from labor and urban economics to address the extent to which changes in labor markets and location have ...
New England Economic Review , Issue May

Journal Article
Spatial and labor market contributions to earnings inequality: an overview

New England Economic Review , Issue May , Pages 1-10

Journal Article
Labor markets and earnings inequality : a status report

New England Economic Review , Issue May , Pages 11-25

Journal Article
Does location matter?

New England Economic Review , Issue May , Pages 26-40

Journal Article
Is the market for college graduates headed for a bust? Demand and supply responses to rising college wage premiums

New England Economic Review , Issue May , Pages 115-138

Journal Article
Technology and skill requirements: implications for establishment wage structures

New England Economic Review , Issue May , Pages 139-156



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