Journal of political economy, 2010-08, Vol.118 (4), p.681-722
2010
Details
- Autor(en) / Beteiligte
- Titel
- The macroeconomic implications of rising wage inequality in the United States
- Ist Teil von
- Journal of political economy, 2010-08, Vol.118 (4), p.681-722
- Ort / Verlag
- Chicago: University of Chicago Press
- Erscheinungsjahr
- 2010
- Link zum Volltext
- Quelle
- EBSCOhost Business Source Ultimate
- Beschreibungen/Notizen
- In recent decades, American workers have faced a rising college premium, a narrowing gender gap, and increasing wage volatility. This paper explores the quantitative and welfare implications of these changes. The framework is an incomplete-markets life cycle model in which individuals choose education, intrafamily time allocation, and savings. Given the observed history of the U.S. wage structure, the model replicates key trends in cross-sectional inequality in hours worked, earnings, and consumption. Recent cohorts enjoy welfare gains, on average, as higher relative wages for college graduates and for women translate into higher educational attainment and a more even division of labor within the household.
- Sprache
- Englisch
- Identifikatoren
- ISSN: 0047-2697, 1537-534X, 0022-3808eISSN: 1537-534XDOI: 10.1086/656632Titel-ID: cdi_jstor_primary_10_1086_656632
- Format
- –
- Schlagworte
- Age, Arbeitsproduktivität, Arbeitszeit, Auswirkung, Bildungsniveau, College graduates, Economic models, Economic theory, Education, Einkommensunterschied, Erwerbstätiger, Gender equity, Geschlechtsspezifik, Household consumption, Income inequality, Lebensalter, Lebenslauf, Lohnentwicklung, Lohnstruktur, Lohntheorie, Macroeconomics, Men, Modell, Parameter, Political economy, Privathaushalt, Schätzung, Shifts in demand, Statistical discrepancies, Steady state economies, Studies, USA, Volkswirtschaftliche Kosten, Wage differential, Wages, Working hours