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    Decomposing Trends in Inequality in Earnings into Forecastable and Uncertain Components

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    Author
    Cunha, Flávio; Heckman, James
    Date
    2016
    Abstract
    A substantial empirical literature documents the rise in wage inequality in the American economy. It is silent on whether the increase in inequality is due to components of earnings that are predictable by agents or whether it is due to greater uncertainty facing them. These two sources of variability have different consequences for both aggregate and individual welfare. Using data on two cohorts of American males, we find that a large component of the rise in inequality for less skilled workers is due to uncertainty. For skilled workers, the rise is less pronounced.
    Citation
    Cunha, Flávio and Heckman, James. "Decomposing Trends in Inequality in Earnings into Forecastable and Uncertain Components." Journal of Labor Economics, 34, no. S2 (2016) University of Chicago Press: S31-S65. https://doi.org/10.1086/684121.
    Published Version
    https://doi.org/10.1086/684121
    Type
    Journal article
    Publisher
    University of Chicago Press
    Citable link to this page
    https://hdl.handle.net/1911/94151
    Rights
    This is an author's peer-reviewed final manuscript, as accepted by the publisher. The published article is copyrighted by The University of Chicago.
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    Home | FAQ | Contact Us | Privacy Notice | Accessibility Statement
    Managed by the Digital Scholarship Services at Fondren Library, Rice University
    Physical Address: 6100 Main Street, Houston, Texas 77005
    Mailing Address: MS-44, P.O.BOX 1892, Houston, Texas 77251-1892
    Site Map