PhD Macro/Labor Course (2024)

 

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Lecture Slides


Lecture 1: Income Inequalityand Income Risk: Old Myths vs New Facts
New facts from new big administrative panel data on earnings that challenge old myths, including trends in earnings risk, sources of rising income inequality, the role of CEO and executive pay in rising inequality, how idiosyncratic income risk varies over the business cycle, and more.


Lecture 2:Theories of Wages: Human Capital Theory)


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 β€œThe thing, above all, that a teacher should endeavor to produce in his pupils, if democracy is to survive, is the kind of tolerance that springs from an endeavor to understand those who are different from ourselves. It is perhaps a natural human impulse to view with horror and disgust all manners and customs different from those to which we are used. Ants and savages put strangers to death. And those who have never traveled either physically or mentally find it difficult to tolerate the queer ways and outlandish beliefs of other nations and other times, other sects and other political parties. This kind of ignorant intolerance is the antithesis of a civilized outlook, and is one of the gravest dangers to which our overcrowded world is exposed.”

Bertrand Russell (1950)