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In: NBER working paper series 13224
Is lifetime inequality mainly due to differences across people established early in life or to differences in luck experienced over the working lifetime? We answer this question within a model that features idiosyncratic shocks to human capital, estimated directly from data, as well as heterogeneity in ability to learn, initial human capital, and initial wealth -- features which are chosen to match observed properties of earnings dynamics by cohorts. We find that as of age 20, differences in initial conditions account for more of the variation in lifetime utility, lifetime earnings and lifetime wealth than do differences in shocks received over the lifetime. Among initial conditions, variation in initial human capital is substantially more important than variation in learning ability or initial wealth for determining how an agent fares in life. An increase in an agent's human capital affects expected lifetime utility by raising an agent's expected earnings profile, whereas an increase in learning ability affects expected utility by producing a steeper expected earnings profile.
In: IMF Working Papers
Studies of the empirical relationship between income and mortality often rely on data aggregated by geographic areas and broad population groups and do not distinguish disabled and nondisabled persons. We investigate the relationship between individual mortality and lifetime income with a large micro data base of current and former retired participants in the U. S. Social Security system. Logit models by gender and race confirm a negative relationship. Differences in age of death between low and high lifetime income are on the order of two to three years. Income-related mortality differences b
World Affairs Online
In: Sonderforschungsbereich 504, Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung 07-05
"The purpose of this book is to document this claim by presenting fundamental principles of human communication that enhance the quality of our communication with others as well as the quality of our own lives. Most students who read this book will take only one communication course during their entire college career"--
This book is an exploration of the ways in which political belief is developed and sustained throughout the course of a lifetime. Through extensive interviews, it focuses on the lives of fifteen British men and women, aged between seventy and ninety, who have dedicated half a century or longer to working for social change and justice. From Dorothy Greenald's commitment to provision of adequate housing for prisoners' families to Walter Gregory's active service in the Spanish Civil War and Trevor Huddleston's vital role in the international Anti-Apartheid Movement, these men and women have been involved in both local and international struggles. Respondents discuss topics ranging from the importance of gender identity for their political activism, to their perceptions of recent events in Eastern Europe. The work is unusual in combining an investigation of individual lifelong political commitment with a wider consideration of the formation of social identity, aging and the interplay between individuals and their environment. Lifetimes of commitment will have a wide appeal amongst social psychologists, sociologists, social and oral historians and political scientists