Fonseca, Raquel; Lalé, Etienne; Langot, François; … - 2025 - This version: September 2025
We develop a general-equilibrium OLG model of human capital to study the dynamics of the U.S. college premium and lifetime wage profiles between 1940 and 2020. The model features endogenous education and on-the-job training, along with exogenous aggregate (skill-neutral and skill-biased) shocks...