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The Global Life-Cycle Optimizer – Analyzing Fiscal Policy's Potential to Dramatically Distort Labor Supply and Saving

Brumm, Johannes; Kotlikoff, Laurence J.; Krause, Christopher - National Bureau of Economic Research - 2024

discontinuous. Consequently, assessing work and saving responses to policy requires global optimization. This paper develops the … Global Life-Cycle Optimizer (GLO), a stochastic pattern-search algorithm. The GLO robustly, precisely, and quickly locates …' labor supply and saving assuming standard preferences. The system incorporates kinks from federal personal income tax …

Persistent link: https://www.econbiz.de/10014528375

Education Gradients in Parental Time Investment and Subjective Well-being

Kalil, Ariel; Mayer, Susan E.; Delgado, William; … - National Bureau of Economic Research - 2023

College-educated mothers spend substantially more time in intensive childcare than less educated mothers despite their higher opportunity cost of time and working more hours. Using data from the 2010-2013 and 2021 waves of the Well-being Module of the American Time Use Survey, we investigate...

Persistent link: https://www.econbiz.de/10014372469

Unconditional Cash and Family Investments in Infants : Evidence from a Large-Scale Cash Transfer Experiment in the U.S

Gennetian, Lisa A.; Duncan, Greg J.; Fox, Nathan A.; … - National Bureau of Economic Research - 2022

A key policy question in evaluating social programs to address childhood poverty is how families receiving unconditional financial support would spend those funds. Economists have limited empirical evidence on this topic in the U.S. We provide causal estimates of financial and time investments...

Persistent link: https://www.econbiz.de/10013362033

Wage and Earnings Inequality Between and Within Occupations : The Role of Labor Supply

Erosa, Andrés; Fuster, Luisa; Kambourov, Gueorgui; … - National Bureau of Economic Research - 2023

We document systematic differences in wage and earnings inequality between and within occupations and show that these differences are intimately related to systematic differences in labor supply across occupations. We then develop a variant of a Roy model in which earnings are a non-linear...

Persistent link: https://www.econbiz.de/10014372422

The Turing Transformation : Artificial Intelligence, Intelligence Augmentation, and Skill Premiums

Agrawal, Ajay; Gans, Joshua; Goldfarb, Avi - National Bureau of Economic Research - 2023

We ask whether a technical objective of using human performance of tasks as a benchmark for AI performance will result in the negative outcomes highlighted in prior work in terms of jobs and inequality. Instead, we argue that task automation, especially when driven by AI advances, can enhance...

Persistent link: https://www.econbiz.de/10014421192

Pension Reform, Incentives to Retire and Retirement Behavior : Empirical Evidence from Swedish Micro-data

Laun, Lisa; Palme, Mårten - National Bureau of Economic Research - 2023

This paper investigates to what extent the 1998 reform of Sweden's public old-age pension system contributed to the increase in extensive margin labor supply among older workers seen in the country in recent decades. We use a large data set containing all males and females born in Sweden between...

Persistent link: https://www.econbiz.de/10014421225

Preparing for the (Non-Existent?) Future of Work

Korinek, Anton; Juelfs, Megan - National Bureau of Economic Research - 2022

This paper considers the labor market and distributional implications of a scenario of ever-more-intelligent autonomous machines that substitute for human labor and drive down wages. We lay out three concerns arising from such a scenario and evaluate recent predictions and objections to these...

Persistent link: https://www.econbiz.de/10013334391

Optimal Gradualism

Lehr, Nils H.; Restrepo, Pascual - National Bureau of Economic Research - 2022

This paper studies how gradualism affects the welfare gains from trade, technology, and reforms. When people face adjustment frictions, gradual shocks create less adverse distributional effects in the short run. We show that there are welfare gains from inducing a more gradual transition via...

Persistent link: https://www.econbiz.de/10013477247

Gender Differences in Response to Competitive Organization? Differences Across Fields from a Product Development Platform Field Experiment

Boudreau, Kevin; Kaushik, Nilam - National Bureau of Economic Research - 2022

Prior research, primarily based on lab experiments, suggests that females might be more averse to competition than males and could be more inclined towards collaboration, instead. Were these findings to generalize to adults across the workforce, there could be profound implications for...

Persistent link: https://www.econbiz.de/10013210090

Bad Luck or Bad Decisions? Macroeconomic Implications of Persistent Heterogeneity in Cognitive Skills and Overconfidence

Pfäuti, Oliver; Seyrich, Fabian; Zinman, Jonathan - National Bureau of Economic Research - 2024

Business cycle models often abstract from persistent household heterogeneity, despite its potentially significant implications for macroeconomic fluctuations and policy. We show empirically that the likelihood of being persistently financially constrained decreases with cognitive skills and...

Persistent link: https://www.econbiz.de/10014528345

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