Replication data for: Heterogeneity and Aggregation: Implications for Labor-Market Fluctuations: Reply
Principal Investigator(s): View help for Principal Investigator(s) Yongsung Chang; Sun-Bin Kim
Version: View help for Version V1
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| AER-2013-1495_programs | 10/11/2019 10:06:PM | ||
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text/plain | 14.6 KB | 10/11/2019 06:06:PM |
Project Citation:
Chang, Yongsung, and Kim, Sun-Bin. Replication data for: Heterogeneity and Aggregation: Implications for Labor-Market Fluctuations: Reply. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112763V1
Project Description
Summary:
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Takahashi (2014) has uncovered coding errors in our paper,
Chang and Kim (2007)-henceforth, CK. We acknowledge and are
embarrassed by these mistakes. We are grateful to Takahashi for
uncovering them. While the correction decreases the volatility of the
labor market wedge, we find that the main message of CK remains
valid: the measured labor market wedge arises endogenously in
an economy with incomplete capital markets and indivisible labor
supply. For example, our model accounts for 18 percent of the
volatility in the labor market wedge in the data; it was 43 percent in
CK.
Scope of Project
JEL Classification:
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D31 Personal Income, Wealth, and Their Distributions
E32 Business Fluctuations; Cycles
J22 Time Allocation and Labor Supply
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
J31 Wage Level and Structure; Wage Differentials
D31 Personal Income, Wealth, and Their Distributions
E32 Business Fluctuations; Cycles
J22 Time Allocation and Labor Supply
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
J31 Wage Level and Structure; Wage Differentials
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