Related papers: Monetary policy and the racial wage gap
This paper resolves the empirical puzzle in the public-private wage literature: why studies using similar data reach contradictory conclusions about wage premiums and penalties. Utilizing rich French administrative panel data (2012-2019),…
Using CPS data for 1976 to 2022 we explore how wage inequality has evolved for married couples with both spouses working full time full year, and its impact on household income inequality. We also investigate how marriage sorting patterns…
The empirical literature on the relationship between income inequality and economic growth has produced highly heterogeneous and often conflicting results. This paper investigates the sources of this heterogeneity using a meta-analytic…
I study the effects of US salary history bans which restrict employers from inquiring about job applicants' pay history during the hiring process, but allow candidates to voluntarily share information. Using a difference-in-differences…
This paper studies the transmission of US monetary policy shocks into Emerging Markets emphasizing the role of investment and financial heterogeneity. First, we use a panel SVAR model to show that a US interest tightening leads to a…
Inequality and its consequences are the subject of intense recent debate. Using a simplified model of the economy, we address the relation between inequality and liquidity, the latter understood as the frequency of economic exchanges.…
Opportunities, such as access to education or family background, shape income inequality by influencing the chances of economic success. Unequal opportunities create uncertainty about whether success is merit- or luck-based. We examine how…
Monthly disaggregated US data from 1978 to 2016 reveals that exposure to news on inflation and monetary policy helps to explain inflation expectations. This remains true when controlling for household personal characteristics, perceptions…
Over the past decade, the gender pay gap has remained steady with women earning 84 cents for every dollar earned by men on average. Many studies explain this gap through demand-side bias in the labor market represented through employers'…
This papers aims to establish the empirical relationship between income, net wealth and their joint distribution in a selected group of euro area countries. I estimate measures of dependence between income and net wealth using a…
Modern macroeconomic monetary theory suggests that the labor share of income has effectively become a core macroe-conomic parameter anchored by top policymakers through Open Market Operations (OMO). However, the setting of this parameter…
Economists disagree about the factors driving the substantial increase in residual wage inequality in the US over the past few decades. To identify changes in the returns to unobserved skills, we make a novel assumption about the dynamics…
We consider the role of unobservables, such as differences in search frictions, reservation wages, and productivities for the explanation of wage differentials between migrants and natives. We disentangle these by estimating an empirical…
In this study, we seek to understand how macroeconomic factors such as GDP, inflation, Unemployment Insurance, and S&P 500 index; as well as microeconomic factors such as health, race, and educational attainment impacted the unemployment…
This paper undertakes a near real-time analysis of the income distribution effects of the COVID-19 crisis in Australia to understand the ongoing changes in the income distribution as well as the impact of policy responses. By…
I study labor markets in which firms hire via referrals. I develop an employment model showing that--despite initial equality in ability, employment, wages, and network structure--minorities receive fewer jobs through referral and lower…
Social and political polarization is a significant source of conflict and poor governance in many societies. Thus, understanding its causes has become a priority of scholars across many disciplines. Here we demonstrate that shifts in…
I discuss economic and social sources of inequality and elaborate on the role of social networks in inequality, economic immobility, and economic inefficiencies. The lens of social networks clarifies how the entanglement of people's…
We argue that the recent growth in income inequality is driven by disparate growth in investment income rather than by disparate growth in wages. Specifically, we present evidence that real wages are flat across a range of professions,…
This study analyzes the gender gap in desired wages using large administrative data of public job referrals, which allows us to look at the desired salaries of individuals from a wider wage distribution. We conduct a decomposition analysis…