Motivated by the large differences in labor market outcomes across college majors, we survey the literature on the demand for and return to high school and post-secondary education by field of study. We combine elements from several papers to provide a dynamic model of education and occupation...

Motivated by the large differences in labor market outcomes across college majors, we survey the literature on the demand for and return to high school and postsecondary education by field of study. We combine elements from several papers to provide a dynamic model of education and occupation...

The authors examine the relationship between the receipt of employer-provided training and the characteristics of workers and jobs using data from the National Longitudinal Survey of the High School Class of 1972 and the Dictionary of Occupational Titles. They find that the intensity of training...

Using 1975-91 data from the Panel Study of Income Dynamics, the authors provide a set of facts about vacation leave. They show that on average, vacation time taken rose one-to-one with paid vacation, although with variation by year; annual hours worked fell by about one full-time week with every...

This article reviews the theory and evidence regarding how work hours are determined and the role of employer policies on vacation. The authors discuss possible economic rationales for vacation laws and present empirical evidence on whether they affect annual work hours. The results indicate...

What is the economic return to attending college? The earnings gap between college and high school graduates is large, but college and high school graduates differ in many ways besides education. This article finds that differences in family background and ability explain about one fourth of the...

This article studies the extent to which the wide gap in the wealth holdings of whites and African Americans can be explained by differences in family income and demographic characteristics.

We present a simple way to estimate the effects of changes in a vector of observable variables X on a limited dependent variable Y when Y is a general nonseparable function of X and unobservables. We treat models in which Y is censored from above or below or potentially from both. The basic idea...

The authors estimate consumption and labor supply models for Canada using U.S. variables as instruments instead of lagged Canadian variables. The results suggest that the endogeneity of lagged variables has not been a serious problem in previous studies. They also develop estimation methods for...