UNDERSTANDING THE EVOLUTION OF THE US WAGE DISTRIBUTION: A THEORETICAL ANALYSIS

In this paper, we propose an analytically tractable overlapping‐generations model of human capital accumulation and study its implications for the evolution of the US wage distribution from 1970 to 2000. The key feature of the model, and the only source of heterogeneity, is that individuals differ in their ability to accumulate human capital. Therefore, wage inequality results only from differences in human capital accumulation. We examine the response of this model to skill‐biased technical change (SBTC) theoretically. We show that in response to SBTC, the model generates behavior consistent with some prominent trends observed in the US data including (i) a rise in overall wage inequality both in the short run and long run, (ii) an initial fall in the education premium followed by a strong recovery, leading to a higher premium in the long run, (iii) the fact that most of this fall and rise takes place among younger workers, (iv) a rise in within‐group inequality, (v) stagnation in median wage growth (and a slowdown in aggregate labor productivity), and (vi) a rise in consumption inequality that is much smaller than the rise in wage inequality. These results suggest that the heterogeneity in the ability to accumulate human capital is an important feature for understanding the effects of SBTC and interpreting the transformation of the US labor markets since the 1970s.     

The effect of teaching strategies on student achievement: An analysis using TALIS-PISA-link

The present study investigates the effects of different teaching strategies on student achievement using data from the so-called TALIS-PISA link created by the OECD. This is a recently developed instrument that allows for connecting data about teacher characteristics and practices collected in the TALIS (Teaching and Learning International Survey) survey with students’ academic performance measured in PISA (Programme for International Student Assessment). Our empirical strategy is based on an instrumental variable (IV) approach. Our results suggest that traditional teaching methods have a positive influence on students’ proficiency in mathematics, while the implementation of more innovative active learning strategies seem to have a negative impact on student achievement.     

Authentication Methods and Recent Developments

Abstract

This segment of the “Sharpest Tool” column provides an overview of the current options for authentication for electronic resources and discusses recent developments in this area. Remote access to electronic resources is increasingly important as libraries purchase more and more electronic content. This column attempts to provide a baseline use for many terms relating to authentication, while incorporating discussions and concerns surrounding recent developments in authentication methods.     

对21世纪中国就业问题的思考

中国是世界上人口最多的国家,也是就业压力最大的国家。就业问题一直是困扰我国经济和社会发展的难题。本文在分析中国21世纪就业形势的基础上,提出了解决就业问题的基本思路。     

The impact of physical activity on employment

Using cross-sectional data from 25 European countries this study estimates the probability of an individual being employed controlling for his/her participation and frequency of participation in physical activity. Accounting for endogeneity, the regional prevalence of physical activity calculated from the sample is used as an instrument for individual participation suggesting a causal effect of physical activity on employment, especially for males.     

Is There Still a Wage Penalty for Being Overeducated But Well‐matched in Skills? A Panel Data Analysis of a Swiss Graduate Cohort

Using two periods' panel data from the Swiss Graduate Survey, this study examines the incidence, persistence and wage effects of overeducation. An alternative measure of overeducation that accounts for graduate heterogeneity in perceived skills mismatch is used. This analysis differs from previous panel data studies in that two estimation methods are applied to control for unobserved ability. Results indicate that graduates who are overeducated and mismatched in skills are the most penalized in terms of earnings. This evidence is still valid when unobserved ability is accounted for, whereas the pay penalty is no more significant for graduates who are overeducated but matched in skills. This result is robust to different definitions of perceived skills mismatch and is consistent with the notion that apparent overeducation reflects a lack of unobserved attributes, such as ability.     

CAPITAL INFLOWS,FINANCIAL STRUCTURE AND HOUSING BOOMS

We use a panel VAR to study the effect of shocks to capital inflows, which are identified using sign restrictions, on the housing market in OECD countries. To explore how effects of these shocks change with the structure of the mortgage market and the degree of mortgage securitization, we allow the VAR coefficients to vary with mortgage‐market characteristics. Our results indicate that capital‐inflow shocks have a significant and positive effect on real house prices, real credit available to the private sector, and real residential investment. The responses of these variables are stronger in countries with more developed mortgage markets and in countries where securitization is allowed.     

论21世纪科技期刊编辑的多元化发展

以 2 1世纪知识经济背景下科技期刊将发生的变革为出发点 ,论述了科技期刊编辑的思维方式、知识结构及能力应该向多元化方向发展 ,成为具有综合素质的全方位的编辑人才 ,才能适应时代的要求。     

Workplace Job Satisfaction in Britain: Evidence from Linked Employer–Employee Data

The paper examines the nature of workplace job satisfaction in Britain using an ‘overall’ and domain‐specific job satisfaction outcomes from linked employer–employee data. A measure of aggregate job satisfaction alone might mask domain‐specific differences in satisfaction, something the combined approach in this paper addresses. As well as controlling for a rich set of correlates on employees and their workplaces, the paper deploys alternative empirical models that account for employee‐ and workplace‐level unobserved heterogeneity. The paper reports interesting results on the link between job satisfaction and observed as well as unobserved characteristics of employees and their workplaces.     

Testing the Validity of the Sibling Sex Ratio Instrument

We test the validity of the sibling sex ratio instrument suggested by Angrist and Evans using the methods proposed by Kitagawa and Huber and Mellace. The sex ratio of the first two siblings is arguably randomly assigned and influences the probability of having a third child, which makes it a candidate instrument for fertility when estimating the effect of fertility on female labor supply. However, identification hinges on the random assignment of the instrument, an instrumental exclusion restriction, and the monotonicity of fertility in the instrument. We find that the instrumental variable tests of Kitagawa and Huber and Mellace do not point to a violation of these assumptions in the Angrist and Evans data (which can, however, not be ruled out even asymptotically as the tests cannot detect all possible violations).