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What Should I Be When I Grow Up? Occupations and Unemployment Over the Life Cycle

Gervais, Martin - 2014

Why is unemployment higher for younger individuals? We address this question in a frictional model of the labor market that features learning about occupational fit. In order to learn the occupation in which they are most productive, workers sample occupations over their careers. Because young...

Persistent link: https://www.econbiz.de/10013044973

Why Do Dancers Smoke? Time Preference, Occupational Choice, and Wage Growth

Munasinghe, Lalith - 2011

Time preference is a key determinant of occupational choice and investments in human capital. Since careers are characterized by different wage growth prospects, individual discount rates play an important role in the relative valuation of jobs or occupations. We predict that individuals with...

Persistent link: https://www.econbiz.de/10013132747

The Duration of Youth Unemployment in West Germany : Some Theoretical Considerations

Franz, Wolfgang - 2021

This paper presents a theoretical model dealing with the duration of youth unemployment in West Germany. Duration can …

Persistent link: https://www.econbiz.de/10013249173

The Social Security Early Entitlement Age in a Structural Model of Retirement and Wealth

Gustman, Alan L.; Steinmeier, Thomas L. - 2021

This paper specifies and estimates a structural life cycle model of retirement and wealth that explains the peaks in retirement both at ages 62 and at 65. Our estimates suggest that leisure and time preference are widely distributed among the population, with a bimodal distribution of time...

Persistent link: https://www.econbiz.de/10013248672

The Role of Heterogeneous Risk Preferences, Discount Rates, and Earnings Expectations in College Major Choice

Patnaik, Arpita - 2020

estimation strategy combines two types of data: data on self-reported beliefs about future earnings from potential human capital …

Persistent link: https://www.econbiz.de/10012840370

Are Migrants More Skilled than Non-Migrants? Repeat, Return and Same-Employer Migrants

Hunt, Jennifer - 2021

I examine the determinants of inter-state migration of adults within western Germany, using the German Socio … short-distance migrants, as predicted by theory, and I show that return migrants are a mix of successes and failures …

Persistent link: https://www.econbiz.de/10013218746

Substitution Over Time : Another Look at Life Cycle Labor Supply

Mulligan, Casey B. - 2021

Most studies of the intertemporal substitution of work use life cycle data and, from those studies, many have concluded that intertemporal labor substitution is unimportant for macroeconomics. This paper takes another look at life cycle data and argues that a consideration of measurement errors,...

Persistent link: https://www.econbiz.de/10013221291

How Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios

Hubener, Andreas - 2013

Household decisions are profoundly shaped by a complex set of financial options due to Social Security rules determining retirement, spousal, and survivor benefits, along with benefit adjustments that vary with the age at which these are claimed. These rules influence optimal household asset...

Persistent link: https://www.econbiz.de/10013073941

Estimating Discount Functions with Consumption Choices Over the Lifecycle

Laibson, David I. - 2007

Intertemporal preferences are difficult to measure. We estimate time preferences using a structural buffer stock consumption model and the Method of Simulated Moments. The model includes stochastic labor income, liquidity constraints, child and adult dependents, liquid and illiquid assets,...

Persistent link: https://www.econbiz.de/10012776204

Long-Term Unemployment and the Great Recession : The Role of Composition, Duration Dependence, and Non-Participation

Kroft, Kory - 2014

model that allows for duration dependence in the exit rate from unemployment and for transitions between employment (E …We explore the extent to which composition, duration dependence, and labor force non-participation can account for the … observed outward shift in the Beveridge curve between 2008 and 2013. Both negative duration dependence in the job-finding rate …

Persistent link: https://www.econbiz.de/10013051310