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The Employment and Wage Effects of Oil Price Changes
In this paper, we use micro panel data to examine the effects of oil price changes on employment and real wages, at the aggregate and industry levels. We also measure differences in the employment and wage responses for workers differentiated on the basis of skill level. We find that oil price increases result in a substantial decline in real wages for all workers, but raise the relative wage of skilled workers. The use of panel data econometric techniques to control for unobserved heterogeneity is essential to uncover this result, which is completely hidden in OLS estimates. We find that changes in oil prices induce changes in employment shares and relative wages across industries. However, we find little evidence that oil price changes cause labor to consistently flow into those sectors with relative wage increases.
Consumption and Income Inequality in Poland During the Economic Transition
This paper challenges the conventional wisdom that income inequality in Poland increased substantially following the economic transition in 1989–90. The results, based on micro data from the 1985–92 Household Budget Surveys, indicate that overall income inequality increased during the initial stages of the transition but then declined to pre-transition levels. Consumption distributions reveal a similar pattern. However, earnings inequality did increase markedly after the transition and the relative well-being of different socio-economic groups was altered. Absolute poverty levels increased during the transition, but this increase is attributable to declines in mean income and consumption rather than to changes in inequality.
The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages
This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same degree of cyclical variation in wages. However, important differences emerge in the patterns of employment and hours variation for skilled versus unskilled workers, especially when a college degree is used as a proxy for skills. We find that the quality of labor input per manhour tends to rise in recessions, thereby inducing a countercyclical bias in aggregate measures of the real wage. We also find substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, which we interpret as indicative of important inter-industry differences in labor contracting.
Consumption and Income Inequality in Poland During the Economic Transition
This paper challenges the conventional wisdom that income inequality in Poland increased substantially following the economic transition in 1989–90. The results, based on micro data from the 1985–92 Household Budget Surveys, indicate that overall income inequality increased during the initial stages of the transition but then declined to pre-transition levels. Consumption distributions reveal a similar pattern. However, earnings inequality did increase markedly after the transition and the relative well-being of different socio-economic groups was altered. Absolute poverty levels increased during the transition, but this increase is attributable to declines in mean income and consumption rather than to changes in inequality.
A Link with the Land... the Life and Times of an Irish Countryman. A Biography of Tommy Keane
The Life and Times of An Irish Countryman is a chronicle of courage and determination of three generations of the Keane family, whose love of the land endured through the trials of emigration, the birth of a new nation and other challenges along the way. The story focuses on the life of Tommy Keane, a man with stubborn commitment to rural life and to improving the plight of farm families in the West of Ireland.
Congressional Record
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