Using data from 1980, 1990, and 2000 U.S. censuses, as well as the 2010 and 2019 American Community Surveys and the 1993-2019 National Survey of College Graduates, we investigate the performance of Chinese immigrants in the U.S. labor market over the past 40 years since China initiated its...

Labor supply in Europe was declined by about 30% relative to the US over the past 3 decades. The decline comes from hours per worker and employment. This paper studies a matching model and the effects of labor taxes and unemployment benefits. Labor taxes decrease hours and employment, with...

Using data from 1980, 1990, and 2000 U.S. censuses, as well as the 2010 and 2019 American Community Surveys and the 1993–2019 National Survey of College Graduates, we investigate the performance of Chinese immigrants in the U.S. labor market over the past 40 years since China initiated its...

This paper studies the role of an endogenous time preference on the relationship between inflation and growth in the long run in both the money-in-utility-function (MIUF) and transaction costs (TC) models. We establish a qualitative equivalence between the two models in a setup without a...

In order to explain multiple growth regimes, one of the working hypotheses is based on initial conditions. Using a standard optimal growth with the status effect represented by wealth a la Friedman (1953), this paper obtains multiple growth regimes based on initial conditions without reliance on...

Existing studies find that consumption externalities do not cause inefficiency in the long run unless choices of leisure are allowed for. This paper considers the role of endogenous impatience in a neoclassical growth model with consumption externalities. We find that consumption externalities...