Institutional Affiliation: Brigham Young University
|The Winners and Losers of Immigration: Evidence from Linked Historical Data|
with , : w27156
Using recent innovations in linking historical U.S. Census data, we study the economic impacts of immigration on natives, including their geographic migration response. We find that the arrival of foreign immigrants significantly increases both native out-migration and in-migration. Accounting for this selective geographic migration, we find smaller economic impacts of immigration for native workers than previous work, including no positive impact on worker incomes. We present evidence of significant “losers” from increased immigration, namely workers who appear to be displaced by immigrant labor and move out of their local labor market, whereas the workers who remain see significant benefits. We also find that younger and lowerskilled workers are “losers” from increased immigration, where...
|The Investment Network, Sectoral Comovement, and the Changing U.S. Business Cycle|
with : w26507
We argue that the input-output network of investment goods across sectors is an important propagation mechanism for understanding business cycles. First, we show that the empirical network is dominated by a few “investment hubs” that produce the majority of investment goods, are highly volatile, and are strongly correlated with the cycle. Second, we embed this network into a multisector model and show that shocks to investment hubs have large aggregate effects while shocks to non-hubs do not. Finally, we measure realized sector-level productivity shocks in the data, feed them into our model, and find that hub shocks account for a large and increasing share of aggregate fluctuations. This fact allows the model to match the decline in the cyclicality of labor productivity and other business ...
|The Return to Hours Worked Within and Across Occupations: Implications for the Gender Wage Gap|
with , , : w25739
We document two empirical phenomena. First, the observational wage returns to hours worked within occupation is small, and even negative in some specifications. Second, the wage return to average hours worked across occupations is large. We develop a conceptual framework that reconciles these facts, where the key insight is that workers choose jobs as a bundle of compensation and expected hours worked. As an example, we apply this framework to the gender wage gap and show how it can explain the view expressed in recent work that hours differences between men and women represent a large and growing component of the gender wage gap.