This dissertation consists of two chapters, both of which study the wealth inequality using heterogenous agent general equilibrium model. In particular, the first chapter focuses on a government policy and its implications on wealth inequality. The second chapter incorporates cost to high return assets to generate realistic wealth mobility in the…

The Federal Reserve (the Fed) is the central bank of the United States. It has a congressional mandate to promote maximum sustainable employment and price stability. In normal times, the Fed seeks to achieve this mandate by setting the position or "stance" of monetary policy, primarily by managing the level of short-term interest rates.…

This paper focuses on women's vocational education in Turkey as a gendered and gendering process. Cultural norms about women's role in society, a vocational curriculum that echoes these norms, and a labour market with gender inequalities constitute the background against which women formulate their vocational preferences and seek pathways into the…

How well do our education policies prepare America's youth for the labor market? What challenges limit our success, and what opportunities do we have for improvements? Can public policy play a greater role in encouraging more success? I consider these questions as they apply to the unique characteristics of metropolitan areas in the U.S. Most…

In the United States, we tend to assume that young people should become educated and then go to work, as though the two were entirely separate stages of life. This dichotomy blinds us to the fact that work itself can be a powerful means of education-giving students opportunities to apply academic subject matter to real-world problems, and pushing…

For young people in the United States, whatever their backgrounds, one of the essential purposes of schooling should be to help them develop the knowledge, skills, and competence needed to search for and obtain work that they find at least reasonably satisfying. Our present educational system does precious little to introduce young people to the…

In the United States, we tend to assume that young people should become educated and then go to work, as though the two were entirely separate stages of life. This dichotomy blinds us to the fact that work itself can be a powerful means of education. Indeed, the workplace is where many young people become most engaged in learning high-level skills…

The past year highlighted and heightened California's key challenges. Millions of Californians lost jobs and income during the COVID-19 crisis; low-income families, communities of color, and women were hit hardest. As schools and universities shifted rapidly to remote learning, educators and parents scrambled to provide all students with…

According to Sheldon Danziger and David Ratner, changes in the labor market over the past thirty-five years, such as labor-saving technological changes, increased globalization, declining unionization, and the failure of the minimum wage to keep up with inflation, have made it more difficult for young adults to attain the economic stability and…

Using data from the 1990 U.S. Census and the 2006-2007 American Community Survey (ACS) and a synthetic cohort method, this article examines the labor market performance of young men during their initial transition to work and how it differs by educational attainment and race. The article looks at young men between the ages of 16 to 26 in 1990 who…

The Great Recession left a crater in the labor market that has been devastating for unemployed Americans of all ages. After more than two years of unemployment at well over 8%, there is a hole of more than 11 million jobs, with average spells of unemployment lasting nearly nine months. The weak labor market has been particularly tough on young…

This report analyzes the economic and social costs of the high school dropout problem in Montana from the perspective of a state taxpayer. The majority of the authors' analysis considers the consequences of this problem in terms of labor market, tax revenue, and public service costs. In quantifying these costs, the authors seek to inform public…

It will take years for the labor market to recover from the damage induced by the recent recession. While monthly job losses almost surely peaked in 2009, the unemployment rate will likely peak in 2010 (CBO 2010a). In April, the unemployment rate reached 9.9% and the overall economic cause is simple: firms are not hiring quickly enough, as…

Before 1997, education was a way for young French men to avoid military service in the army. After the abolition of compulsory conscription in 1997, this incentive to stay on in education disappeared. We show that the decrease in the benefit of pursuing education for men was followed by a fall in their educational achievement relative to women and…

With its publication of the Thematic Review on the Transition from Initial Education to Working Life in 2000, OECD has laid the foundation for the development of indicators regarding the transition from education to work. One of the core activities of OECD's Network B in 2005 and 2006 was to further develop these indicators by establishing a…