Research
Working Paper
An Experimental Quarterly Industry-level Production Account for the U.S. (with Jon D. Samuels and David Wasshausen)
In this paper we investigate the prospects for building a quarterly industry-level KLEMS production account for the U.S. to analyze shorter-term fluctuations in the U.S. economy. We follow standard KLEMS procedures including accounting for the composition of capital, labor, and intermediate inputs at the quarterly frequency. In essence, we replicate (though somewhat simplify) the methods used in the BEA-BLS integrated industry level production account to test the viability of the measures. We emphasize that this is early research and includes only experimental estimates that do not attain the same level of quality as the official annual level statistics that were vetted over a period of many years before official release.
“Measuring Wages of Self-Employed Workers”
The income of self-employed workers is a combined income from their labor and capital input. Self-employed workers' hourly wages are often assumed to be comparable to those of salaried workers because it is hard to pick labor compensation from the mixed income of the self-employed. To overcome this challenge, I examine the hourly income of owner and non-owner self-employed workers and measure the hourly labor wage of self-employed workers. With the newly measured self-employed workers' wages, I augment the US labor share data and BEA/BLS integrated industry-level production accounts.
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Declining Labor Turnover and the Importance of Intensive Margin Adjustments (Job Market Paper)
The contribution of intensive margin adjustments to the cyclical fluctuations in total hours worked has increased in the US since the 1980s. I document that the job tenure length has increased during this period and labor hours adjustments in recessions are more prominent in economies with higher job tenure lengths. I build a search-and-matching model with part-time workers and job-specific human capital accumulation. With the model, I claim that the improvement in initial match quality can account for the increased use of intensive margin adjustments along the business cycle.
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Noncompete Agreements and Human Capital Dynamics (with Donghyun Suh)
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