This paper analyzes a marked change in the evolution of the U.S. wage structure over the past fifteen years: divergent trends in upper-tail (90/50) and lower-tail (50/10) wage inequality. We document that wage inequality in the top half of distribution has displayed an unchecked and rather...

This paper analyzes a marked change in the evolution of the U.S. wage structure over the past fifteen years: divergent trends in upper-tail (90/50) and lower-tail (50/10) wage inequality. We document that wage inequality in the top half of distribution has displayed an unchecked and rather...

This study compares the estimation errors of several present value discounting conventions (end-of-year, mid-year, and the more recently proposed harmonic mean convention) for a uniform distribution of intra-period cash flow - continuous and discrete. Our results show that the mid-year...

Leading economists from Paul Samuelson to Paul Krugman have labored to allay the fear that technological advances may reduce overall employment, causing mass unemployment as workers are displaced by machines. This ‘lump of labor fallacy’ - positing that there is a fixed amount of work to be...

From the traditional craft hiring hall to the Web site Monster.com, a multitude of institutions exist to facilitate the matching of workers with firms. The diversity of such Labor Market Intermediaries (LMIs) encompasses criminal records providers, public employment offices, labor unions,...

An emerging literature argues that changes in the allocation of workplace "tasks" between capital and labor, and between domestic and foreign workers, has altered the structure of labor demand in industrialized countries and fostered employment polarization - that is, rising employment in the...