Marios Karabarbounis

TL;DR: The authors characterizes optimal labor-income taxes that depend on age, household assets, and filing status (one or two earners) within a life-cycle model with heterogeneous, two-member households and endogenous human capital.

TL;DR: In this article, the authors quantitatively test the potential of such an idea within a life-cycle model with heterogeneous two-member households and find that younger and older-wealthier households have a larger labor supply elasticity than middle-aged households.

TL;DR: In this article, the authors introduce age-dependent, labor market uncertainty into an otherwise standard model of household portfolio choice and find that a great uncertainty in the labor market, such as high unemployment risk, frequent job turnover, and an unknown career path, prevents young workers from taking too much risk in the financial market.

TL;DR: The authors developed a life-cycle model with age-dependent unemployment risk and gradual learning about the income profile that can address three puzzles: (i) households hold a small amount of equity despite the higher average rate of return, (ii) the share of risky assets increases with the age of the household, and (iii) risk is disproportionately larger for richer households.

TL;DR: The authors used millions of user-entry salaries from Glassdoor to evaluate how well data from online wage postings compare with more traditional, aggregated data, such as the Quarterly Census for Employment and Wages (QCEW) or household-level data such as Panel Study of Income Dynamics (PSID).