Using data recently collected by the Panel Study of Income Dynamics, we find that the intergenerational correlation in expenditures is no larger than that in income, suggesting limited intra-family risk-sharing. On the other hand, even after controlling for the intergenerational correlation in...

In this chapter, we introduce a new framework for studying the evolution of racial inequality in the labor market. The framework encompasses two broad forces - distributional and positional - that affect labor market gaps by racial and ethnic identity over time. We provide long-run results on...

"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. Using data from the Panel Study of Income Dynamics (PSID), this paper studies the degree to which spouses sort in the marriage market on...