Journal of Economic Dynamics & Control最新文献_第6页

The parental pay gap over the life cycle: Children, jobs, and labor supply 父母在整个生命周期中的收入差距：孩子、工作和劳动力供应

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-12-01 DOI: 10.1016/j.jedc.2024.104963

Claudia Goldin , Sari Pekkala Kerr , Claudia Olivetti

{"title":"The parental pay gap over the life cycle: Children, jobs, and labor supply","authors":"Claudia Goldin , Sari Pekkala Kerr , Claudia Olivetti","doi":"10.1016/j.jedc.2024.104963","DOIUrl":"10.1016/j.jedc.2024.104963","url":null,"abstract":"<div><div>Women earn less than men, and that is especially true of mothers relative to fathers. Much of the widening occurs after family formation when mothers reduce their hours of work. But what happens when the kids grow up? To answer that question, we estimate three earning gaps: the “motherhood penalty,” the “price of being female,” and the “fatherhood premium.” When added together these three produce the “parental gender gap,” defined as the difference in earnings between mothers and fathers. We estimate (log) earnings gaps for college graduates born around 1960 using longitudinal data from the NLSY79 and from the LEHD-Census that track respondents from their twenties to their fifties. As the children grow up and as women work more hours, the motherhood penalty is greatly reduced. But women, especially mothers, seem willing throughout their working lives to trade lower pay for various amenities, such as working in firms with management practices that are less penalizing of career interruptions or of shorter work schedules. Fathers, however, manage to expand their relative earnings gains as their children age, particularly among those working in time-intensive jobs, irrespective of work hours or firm fixed effects. The parental gender gap in earnings remains substantial over the family lifecycle.</div></div>","PeriodicalId":48314,"journal":{"name":"Journal of Economic Dynamics & Control","volume":"169 ","pages":"Article 104963"},"PeriodicalIF":1.9,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143175435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

What does the beveridge curve tell us about the likelihood of soft landings? 贝弗里奇曲线告诉我们软着陆的可能性是什么？

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-12-01 DOI: 10.1016/j.jedc.2024.104957

Andrew Figura, Chris Waller

引用次数: 0

Living arrangements and labor market volatility of young workers 青年工人的生活安排和劳动力市场波动性

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-12-01 DOI: 10.1016/j.jedc.2024.104958

Sebastian Dyrda , Greg Kaplan , José-Víctor Ríos-Rull

引用次数: 0

The welfare costs of misinformation 错误信息的福利成本

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-12-01 DOI: 10.1016/j.jedc.2024.104959

Neha Bairoliya , Kathleen McKiernan

引用次数: 0

Reprint of: How do households respond to income shocks? 转载自：家庭如何应对收入冲击？

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-12-01 DOI: 10.1016/j.jedc.2024.104973

Dirk Krueger , Egor Malkov , Fabrizio Perri

{"title":"Reprint of: How do households respond to income shocks?","authors":"Dirk Krueger , Egor Malkov , Fabrizio Perri","doi":"10.1016/j.jedc.2024.104973","DOIUrl":"10.1016/j.jedc.2024.104973","url":null,"abstract":"<div><div>We use panel data from the Italian Survey of Household Income and Wealth from 1991 to 2016 to document what components of the household budget constraint change in response to shocks to household labor income, both over shorter and over longer horizons. Consumption and wealth responses are informative about the household consumption (or savings) function and thus about what class of consumption-savings model best describes the data. Empirically, we first show that shocks to labor income are associated with negligible changes in transfers and non-labor income components, modest changes in consumption expenditures, and large changes in wealth. To understand the wealth response we then split households into a sample that does not own business or real estate wealth, and a sample that does. For the first group, we find that consumption responses are more substantial (and increasing with the horizon of the income shock) and wealth responses are much smaller (and mildly increasing with the income shock horizon). Turning to theory, we argue that for this group, a simple extension of the standard permanent income hypothesis (PIH) consumption function that allows for partial insurance against even permanent income shocks explains the consumption and wealth responses well, both at short and long horizons. For the second group with business wealth or real estate wealth the standard framework cannot explain the large changes in wealth associated with income shocks. We conclude that models which include shocks to the value of household wealth are necessary to fully evaluate the sources and consequences of household resource risk.</div></div>","PeriodicalId":48314,"journal":{"name":"Journal of Economic Dynamics & Control","volume":"169 ","pages":"Article 104973"},"PeriodicalIF":1.9,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143175436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A quantitative theory of the new life cycle of women's employment 妇女就业新生命周期的定量理论

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-12-01 DOI: 10.1016/j.jedc.2024.104960

Lidia Cruces

{"title":"A quantitative theory of the new life cycle of women's employment","authors":"Lidia Cruces","doi":"10.1016/j.jedc.2024.104960","DOIUrl":"10.1016/j.jedc.2024.104960","url":null,"abstract":"<div><div>“A new life cycle of women's labor force participation has emerged” (<span><span>Goldin and Mitchell, 2017</span></span>). Compared to previous cohorts, the employment profile of American college-educated married women born after the mid-1950s is flatter and higher with no hump but with a dip in the middle between ages 30-39. At the same time, these younger cohorts have delayed births, but their completed fertility rate has increased. I develop a quantitative theory to explain the changes in college-educated women's employment and fertility decisions across cohorts. First, I provide reduced-form evidence of a positive correlation between fertility and employment decisions. Second, I build a life-cycle model of labor supply and fertility decisions. My estimates indicate that the marginal returns to experience of college-educated married women increased by 33 percent. Although on-the-job accumulation of experience plays a crucial role in generating employment shifts and birth delays, the model does not generate an increase in the total fertility rate in the absence of infertility treatments. Thus, to understand why college-educated married women's life-cycle employment profiles and fertility decisions are changing, both factors must be considered.</div></div>","PeriodicalId":48314,"journal":{"name":"Journal of Economic Dynamics & Control","volume":"169 ","pages":"Article 104960"},"PeriodicalIF":1.9,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143175433","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Unions: Wage floors, seniority rules, and unemployment duration 工会：最低工资标准、工龄规则和失业期限

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-12-01 DOI: 10.1016/j.jedc.2024.104965

Fernando Alvarez , Robert Shimer , Fabrice Tourre

引用次数: 0

Do unemployment benefit extensions explain the emergence of jobless recoveries? 失业救济金延期是否能解释失业复苏的出现？

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-12-01 DOI: 10.1016/j.jedc.2024.104964

Kurt Mitman , Stanislav Rabinovich

引用次数: 0

Judgment can spur long memory 判断力能激发持久的记忆力

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-11-28 DOI: 10.1016/j.jedc.2024.105005

Emilio Zanetti Chini

引用次数: 0

Pricing asset beyond financial fundamentals: The impact of prosocial preference and image concerns 超越金融基本面的资产定价：亲社会偏好和形象问题的影响

IF 1.9 3区经济学

Journal of Economic Dynamics & Control Pub Date : 2024-11-26 DOI: 10.1016/j.jedc.2024.105004

Dragana Draganac , Kelin Lu

{"title":"Pricing asset beyond financial fundamentals: The impact of prosocial preference and image concerns","authors":"Dragana Draganac , Kelin Lu","doi":"10.1016/j.jedc.2024.105004","DOIUrl":"10.1016/j.jedc.2024.105004","url":null,"abstract":"<div><div>This paper examines the effects of two non-financial values—prosocial preferences and image concerns—on the pricing of socially beneficial stocks within experimental asset markets, isolating their effect from those of stocks' financial fundamentals. To this end, we designed a novel laboratory asset market where stocks shared the same fundamental value but varied in their associations with non-financial values. We found that prosocial preferences alone have a minimal impact on the market prices of socially beneficial stocks. However, the presence of image concerns significantly raises the market price of socially beneficial stocks. Additionally, under this condition, individuals trade these stocks at high prices regardless of their level of non-financial values. To benchmark the effect of non-financial values on stock valuation at the individual level, we conducted a parallel non-market experiment incorporating the same decision factors. In this non-market setting, prosocial preferences alone positively impacted stock reservation prices, and the addition of image concerns further increased these prices.</div></div>","PeriodicalId":48314,"journal":{"name":"Journal of Economic Dynamics & Control","volume":"170 ","pages":"Article 105004"},"PeriodicalIF":1.9,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142720797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0