Thomas Sargent Professor of Economics at the University of Minnesota and consultant at the Minneapolis Fed. Views are my own. RT ≠ E.
Web page: https://users.nber.org/~denardim/
Mariacristina De Nardi
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Bottom line: high observed earnings persistence does not necessarily mean highly persistent of individual-level productivity shocks. A large part reflects heterogeneity and employer transitions.
Showing how to identify models of earnings and employment dynamics from subjective expectations data, from Manuel Arellano, Orazio Attanasio, Margherita Borella, @mdenardi.bsky.social, and Gonzalo Paz-Pardo www.nber.org/papers/w35027
Over our lives, we face many risks and choices. Read new working paper from @mdenardi.bsky.social, @johanatch.bsky.social, Borella, & Yang for a life-cycle model w/ single and married individuals jointly choosing labor supply and savings from labor market entry until death . https://bit.ly/4anebZ5
