In recent years, oil-exporting countries have experienced windfall gains with the rise in the price of oil. A look at how oil exporters "recycle" their revenues reveals that roughly half of the petrodollar windfall has gone to purchase foreign goods, especially from Europe and China, while the...

Are apprenticeships valuable for firms? Economists once thought that firms do not pay to develop occupational skills that workers could use in other, often competing, firms. Now, researchers recognize that most firms benefit from investing in apprenticeship training. Firms gain from the...

I28, J08, J24 </AbstractSection> Copyright Lerman; licensee Springer. 2013

This study examines the interplay between job stability, wage rates, and marital instability. We use a Dynamic Selection Control model in which young men make sequential choices about work and family. Our empirical estimates derived from the model account for selfselection, simultaneity and...

Battered housing prices are central to today's financial crisis, and Robert Lerman proposes a remedy that does not involve throwing money at Wall Street.

The evolution of market economies has dramatically broadened the opportunities of consumers, workers, investors, and firms. Financial services have become especially free and accessible, but also increasingly complex. For the new financial freedom to help most people, they must understand their...

Analyzes the extent to which U.S. tax policies reduce the income gap between richer and poorer individuals and contrasts the extent to which these policies alter rankings of individuals in overall income distribution.