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  1. Utfordringer for lønnsdannelsen og norsk økonomi
    utredning for Frontfagsmodellutvalget
    Author: Bjertnæs, Geir H. M.; Boug, Pål; Brasch, Thomas von; Bye, Brita; Cappelen, Ådne; Fæhn, Taran; Graber, Michael; Gundersen, Thomas Størdal; Hammersland, Roger; Holmøy, Erling; Hungnes, Håvard; Jasinski, Marek; Kaushal, Kevin R.; Kolsrud, Dag; Quaghebeur, Ewoud; Skretting, Julia; Stølen, Nils Martin; Tretvoll, Håkon; Vigtel, Trond C.
    Published: 15. desember 2023
    Publisher:  Statistisk sentralbyrå, [Oslo]

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    Source: Union catalogues
    Language: Norwegian
    Media type: Ebook
    Format: Online
    ISBN: 9788258718694
    Series: Rapporter / Statistisk sentralbyrå ; 2023, 47
    Subjects: Lohnbildung; Norwegen
    Scope: 1 Online-Ressource (circa 340 Seiten), Illustrationen
  2. Labor income dynamics and the insurance from taxes, transfers and the family
    Author: Blundell, Richard W.; Graber, Michael; Mogstad, Magne
    Published: 2014
    Publisher:  Inst. for Fiscal Studies, London

    What do labor income dynamics look like over the life-cycle? What is the relative importance of persistent shocks, transitory shocks and heterogeneous profi les? To what extent do taxes, transfers and the family attenuate these various factors in the... more

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    What do labor income dynamics look like over the life-cycle? What is the relative importance of persistent shocks, transitory shocks and heterogeneous profi les? To what extent do taxes, transfers and the family attenuate these various factors in the evolution of life-cycle inequality? In this paper, we use rich Norwegian data to answer these important questions. We let individuals with di fferent education levels have a separate income process; and within each skill group, we allow for non-stationarity in age and time, heterogeneous experience profi les, and shocks of varying persistence. We find that the income processes diff er systematically by age, skill level and their interaction. To accurately describe labor income dynamics over the life-cycle, it is necessary to allow for heterogeneity by education levels and account for non-stationarity in age and time. Our findings suggest that the progressive nature of the Norwegian tax-transfer system plays a key role in attenuating the magnitude and persistence of income shocks, especially among the low skilled. By comparison, spouse's income matters less for the dynamics of inequality over the life-cycle.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/91508
    Series: IFS working papers ; W14/01
    Scope: Online-Ressource (43 S.), graph. Darst.
  3. Labor income dynamics and the insurance from taxes, transfers, and the family
    Author: Blundell, Richard W.; Graber, Michael; Mogstad, Magne
    Published: 2014
    Publisher:  IZA, Bonn

    What do labor income dynamics look like over the life-cycle? What is the relative importance of persistent shocks, transitory shocks and heterogeneous profiles? To what extent do taxes, transfers and the family attenuate these various factors in the... more

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    What do labor income dynamics look like over the life-cycle? What is the relative importance of persistent shocks, transitory shocks and heterogeneous profiles? To what extent do taxes, transfers and the family attenuate these various factors in the evolution of life-cycle inequality? In this paper, we use rich Norwegian data to answer these important questions. We let individuals with different education levels have a separate income process; and within each skill group, we allow for non-stationarity in age and time, heterogeneous experience profiles, and shocks of varying persistence. We find that the income processes differ systematically by age, skill level and their interaction. To accurately describe labor income dynamics over the life-cycle, it is necessary to allow for heterogeneity by education levels and account for non-stationarity in age and time. Our findings suggest that the progressive nature of the Norwegian tax-transfer system plays a key role in attenuating the magnitude and persistence of income shocks, especially among the low skilled. By comparison, spouse's income matters less for the dynamics of inequality over the life-cycle.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/93375
    Series: Discussion paper series / Forschungsinstitut zur Zukunft der Arbeit ; 7916
    Scope: Online-Ressource (43 S.), graph. Darst.
  4. How to get tenured
    Author: Graber, Michael; Launov, Andrey; Wälde, Klaus
    Published: 2007
    Publisher:  Friedrich-Alexander-Univ., Erlangen [u.a.]

    Getting a tenured position in economics in Germany is viewed as a random outcome where the probability of tenure depends on the quantity and quality of publications, age and years since PhD. We measure publications both in units of Top 5 journals and... more

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    Getting a tenured position in economics in Germany is viewed as a random outcome where the probability of tenure depends on the quantity and quality of publications, age and years since PhD. We measure publications both in units of Top 5 journals and in units of the European Economic Review (EER). We find that the average age of a professor in the year of his first appointment in Germany in the period of 1970 to 2005 is 38. This is approximately 8 years after the PhD. He has 1.5 "standardized" Top 5 papers or 2.2 "standardized" EER papers, i.e. written with one coauthor and of 20 pages length. Results vary across subfields and over time. Someone aiming for a tenured job after 2010 should by then (average over all fields) have 3.3 standardized Top 5 papers or 5 standardized EER papers.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/73346
    Series: BGPE discussion paper ; 30
    Subjects: Ökonomen; Hochschullehrer; Bibliometrie; Deutschland
    Scope: Online-Ressource (23 S.), graph. Darst.
  5. Unemployment and vacancy dynamics with imperfect financial markets
    Author: Carrillo-Tudela, Carlos; Graber, Michael; Wälde, Klaus
    Published: 2015
    Publisher:  IZA, Bonn

    This paper proposes a simple general equilibrium model with labour market frictions and an imperfect financial market. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are in place.... more

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    This paper proposes a simple general equilibrium model with labour market frictions and an imperfect financial market. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are in place. We model the financial sector as a monopolistically competitive banking sector that intermediates financial capital between firms. This structure implies a per period financial resource constraint which has a closed form solution and describes the transition path of unemployment and vacancies to their steady state values. We show that the transition path crucially depends on the degree of wage flexibility. When wages are bargained sequentially the transition path is always downward sloping. This implies unemployment and vacancies adjust in opposite directions as observed in the data. When calibrating the model to the Great Recession and its aftermath we find that the lack of an improvement in the financial sector's effectiveness to intermediate resources played a crucial role in the slow recovery of the labour market.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/125045
    Series: Discussion paper series / Forschungsinstitut zur Zukunft der Arbeit ; 9525
    Scope: Online-Ressource (28 S.), graph. Darst.
  6. Precautionary borrowing and the credit card debt puzzle
    Author: Druedahl, Jeppe; Jørgensen, Casper Nordal
    Published: 2015
    Publisher:  Danmarks Nationalbank, Copenhagen

    This paper explores a rational economic explanation for the much discussed credit card debt puzzle. We set-up and simulate a generalization of the buffer-stock consumption model with longterm revolving debt contracts. In line with US credit card law,... more

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    This paper explores a rational economic explanation for the much discussed credit card debt puzzle. We set-up and simulate a generalization of the buffer-stock consumption model with longterm revolving debt contracts. In line with US credit card law, lenders can always deny households access to new debt, but they cannot demand immediate repayment of the outstanding balance. Under this assumption it is indeed optimal for households to simultaneously hold positive gross debt and positive gross assets even when the interest rate on the debt is much higher than the return rate on the assets. When the risk of being excluded from new borrowing is positively correlated with unemployment, we are able to explain a substantial share of the observed borrower-saver group and match a high level of liquid net worth.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/147427
    Series: Danmarks Nationalbank working papers ; 98
    Scope: Online-Ressource (47 S.), graph. Darst.
  7. A general endogenous grid method for multi-dimensional modelswith non-convexities and constraints
    Author: Druedahl, Jeppe; Jørgensen, Thomas H.
    Published: September 1, 2016
    Publisher:  CDR, Copenhagen

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion papers / Department of Economics, University of Copenhagen ; no. 16, 09
    Subjects: Dynamische Optimierung; Stochastischer Prozess; Theorie
    Scope: 1 Online-Ressource (circa 61 Seiten), Illustrationen
  8. Persistent vs. permanent income shocks in the Buffer-Stock Model
    Author: Druedahl, Jeppe; Jørgensen, Thomas H.
    Published: June 2, 2016
    Publisher:  CDR, Copenhagen

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    Language: English
    Media type: Book
    Format: Online
    Series: Discussion papers / Department of Economics, University of Copenhagen ; no. 16, 04
    Subjects: Privater Konsum; Einkommenshypothese; Lebenszyklus; Momentenmethode; Theorie
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  9. The intertemporal marginal propensity to consume out of future persistent cash-flows
    evidence from transaction data
    Author: Druedahl, Jeppe; Jensen, Emil Bjerre; Leth-Petersen, Søren
    Published: [2022]
    Publisher:  CEBI, Department of Economics, University of Copenhagen, Copenhagen

    To analyze the effectiveness of stabilization policies which includes effects on households future income it is central to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet data from... more

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    To analyze the effectiveness of stabilization policies which includes effects on households future income it is central to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet data from a major Danish bank. We examine the behavior of borrowers with adjustable rate mortgages, and exploit that the bank sends a letter before the annual reset containing advance information on the expected change in mortgage payments. We find that unconstrained households respond immediately, while liquidity constrained households instead wait and respond around the time the cash-flow-arrives. The cumulative response is similar across the liquidity distribution. This is in line with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity households when the effect on household income is partly in the future.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/268916
    Series: CEBI working paper series ; 22, 13
    Subjects: Consumption; anticipation effects; intertemporal MPC; persistent shocks; mortgages; monetary policy; heterogeneous agent models
    Scope: 1 Online-Ressource (circa 64 Seiten), Illustrationen
  10. Behavioural responses to income taxation in Norway
    Author: Graber, Michael; Mogstad, Magne; Torsvik, Gaute; Vestad, Ola Lotherington
    Published: [2022]
    Publisher:  Department of Economics, University of Oslo, Oslo, Norway

    In this report, we combine theory and empirical estimates for how labor earnings respond to changes in tax rates and unearned income. We use lottery winnings to obtain variation in unearned income and tax reforms to obtain variation in the net of tax... more

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    In this report, we combine theory and empirical estimates for how labor earnings respond to changes in tax rates and unearned income. We use lottery winnings to obtain variation in unearned income and tax reforms to obtain variation in the net of tax rate. Combining this information with measures of extensive margin responses and the progressivity of the Norwegian income tax schedule, we are able to point identify uncompensated and compensated behavioral responses to income taxes and therefore to calculate efficiency losses and optimal income tax rates (for given welfare weights).

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Memorandum / Department of Economics, University of Oslo ; no 2022, 04 (October 2022)
    Subjects: income effect; labor supply elasticities; lottery winnings; efficiency loss; optimal income taxation
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  11. Can consumers distinguish persistent from transitory income shocks?
    Author: Druedahl, Jeppe; Jørgensen, Thomas H.
    Published: [2018]
    Publisher:  CEBI, Department of Economics, University of Copenhagen, Copenhagen

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/258898
    Series: CEBI working paper series ; 18, 03
    Subjects: Consumption; Saving; Income Shocks; Learning; Consumer Information
    Scope: 1 Online-Ressource (circa 61 Seiten), Illustrationen
  12. High frequency income dynamics
    Author: Druedahl, Jeppe; Graber, Michael; Jørgensen, Thomas H.
    Published: [2021]
    Publisher:  CEBI, Department of Economics, University of Copenhagen, Copenhagen

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/258952
    Series: CEBI working paper series ; 21, 08
    Subjects: Consumption-saving; income dynamics; panel data models
    Scope: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  13. Earmarked paternity leave and the relative income within couples
    Author: Druedahl, Jeppe; Ejrnæs, Mette; Jørgensen, Thomas H.
    Published: [2019]
    Publisher:  CEBI, Department of Economics, University of Copenhagen, Copenhagen

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    Source: Union catalogues
    Language: English
    Media type: Book
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    Other identifier:
    hdl: 10419/258902
    Series: CEBI working paper series ; 19, 02
    Subjects: Income Share; Parental Leave; Earmarked Leave; Household Bargaining
    Scope: 1 Online-Ressource (circa 9 Seiten), Illustrationen
  14. How Americans Respond to Idiosyncratic and Exogenous Changes in Household Wealth and Unearned Income
    Author: Golosov, Michail Ju.; Graber, Michael; Mogstad, Magne; Novgorodsky, David
    Published: 2021
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We study how Americans respond to idiosyncratic and exogenous changes in household wealth and unearned income. Our analyses combine administrative data on U.S. lottery winners with an event-study design that exploits variation in the timing of... more

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    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
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    Universitätsbibliothek Freiburg
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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    We study how Americans respond to idiosyncratic and exogenous changes in household wealth and unearned income. Our analyses combine administrative data on U.S. lottery winners with an event-study design that exploits variation in the timing of lottery wins. Our first contribution is to estimate the earnings responses to these windfall gains, finding significant and sizable wealth and income effects. On average, an extra dollar of unearned income in a given period reduces pre-tax labor earnings by about 50 cents, decreases total labor taxes by 10 cents, and increases consumption by 60 cents. These effects are heterogeneous across the income distribution, with households in higher quartiles of the income distribution reducing their earnings by a larger amount. Our second contribution is to develop and apply a rich life-cycle model in which heterogeneous households face non-linear taxes and make earnings choices along both intensive and extensive margins. By mapping this model to our estimated earnings responses, we obtain informative bounds on the impacts of two policy reforms: an introduction of UBI and an increase in top marginal tax rates. Our last contribution is to study how additional wealth and unearned income affect a wide range of behavior, including geographic mobility and neighborhood choice, retirement decisions and labor market exit, family formation and dissolution, entry into entrepreneurship, and job-to-job mobility

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: NBER working paper series ; no. w29000
    Subjects: Haushaltseinkommen; Konsumentenverhalten; Privater Haushalt; USA
    Scope: 1 Online-Ressource, illustrations (black and white)
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    Hardcopy version available to institutional subscribers
  15. Long-run saving dynamics
    evidence from unexpected inheritances
    Author: Druedahl, Jeppe; Martinello, Alessandro
    Published: [2017]
    Publisher:  CEBI, Department of Economics, University of Copenhagen, Copenhagen

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/258893
    Series: CEBI working paper series ; 17, 02
    Scope: 1 Online-Ressource (circa 90 Seiten), Illustrationen
  16. The unemployment-risk channel in business-cycle fluctuations
    Author: Broer, Tobias; Druedahl, Jeppe; Harmenberg, Karl; Öberg, Erik
    Published: 15 October 2021
    Publisher:  Centre for Economic Policy Research, London

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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP16639
    Subjects: HANK; Search and Matching; unemployment risk; business cycles
    Scope: 1 Online-Ressource (circa 66 Seiten), Illustrationen