The macroeconomic implications of rising wage inequality in the United States.

Autor/inn/en	Heathcote, Jonathan; Storesletten, Kjetil; Violante, Giovanni L.
Institution	National Bureau of Economic Research
Titel	The macroeconomic implications of rising wage inequality in the United States. Gefälligkeitsübersetzung: Die gesamtwirtschaftlichen Folgen zunehmender Lohnungleichheit in den USA.
Quelle	Cambridge (2008), 61 S. PDF als Volltext Link als defekt meldenVerfügbarkeit
Reihe	NBER working paper. 14052
Sprache	englisch
Dokumenttyp	online; gedruckt; Monographie; Graue Literatur
Schlagwörter	Schätzung; Bildungsniveau; Lebensalter; Einkommensunterschied; Lohnentwicklung; Lohnstruktur; Lohntheorie; Privathaushalt; Volkswirtschaftliche Kosten; Arbeitsproduktivität; Erwerbstätiger; Arbeitszeit; Arbeitspapier; Auswirkung; Geschlechtsspezifik; Modell; Parameter; USA
Abstract	"In recent decades, the US wage structure has been transformed by a rising college premium, a narrowing gender gap, and increasing persistent and transitory residual wage dispersion. This paper explores the implications of these changes for cross-sectional inequality in hours worked, earnings and consumption, and for welfare. The framework for the analysis is an incomplete-markets overlapping-generations model in which individuals choose education and form households, and households choose consumption and intra-family time allocation. An explicit production technology underlies equilibrium prices for labor inputs differentiated by gender and education. The model is parameterized using micro data from the PSID, the CPS and the CEX. With the changing wage structure as the only primitive force, the model can account for the key trends in cross-sectional US data. We also assess the role played by education, labor supply, and saving in providing insurance against shocks, and in exploiting opportunities presented by changes in the relative prices of different types of labor." Die Untersuchung enthält quantitative Daten. Forschungsmethode: empirisch-quantitativ; empirisch; Längsschnitt; Theoriebildung; Grundlagenforschung. Die Untersuchung bezieht sich auf den Zeitraum 1965 bis 2005. (author's abstract, IAB-Doku).
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2008/4