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This paper presents a new approach for estimating the labor market impact of immigration. The existing studies typically exploit the geographic clustering of immigrants and use differences across local labor markets to identify the impact. This approach has not been successful because it ignores the strong currents that tend to equalize economic conditions(More)
M ost noneconomists are fearful when an emerging China or India, helped by their still low real wage rates, outsourcing and miracle export-led developments, cause layoffs from good American jobs. This is a hot issue now, and in the coming decade, it will not go away. Prominent and competent mainstream economists enter into the debate to educate and correct(More)
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Gray UROP Fund for their support. This paper would not have been possible without the help of a great many people. I am very grateful for the efforts that a number of journals made to supply me with data. In addition, many of the ideas in this paper were developed in the course of a series of conversations with other economists. I would especially like to(More)
Psychologists have developed effective survey methods of measuring how happy people feel at a given time. The relationship between how happy a person feels and utility is an unresolved question. Existing work in Economics either ignores happiness data or assumes that felt happiness is more or less the same thing as flow utility. The approach we propose in(More)
This thesis consists of three studies of labor markets where differences in talent are associated with very large differences in income. The unifying theoretical feature is the view that the analysis of such labor markets should take into account the scarcity of jobs, which is a natural consequence of the combination of finite demand and positive production(More)