Union membership raises the wages of younger workers but protects older workers from layoffs better. The marginal union member makes use of public transfer systems at far lower rates, saving the government money.
Labor market competition leads to higher real worker earnings, lower firm productivity, firm closer, greater inequality, population loss, and changes in political sentiments in communities affected by it.
Firms respond to unions by raising prices, reallocating inputs from smaller to larger firms, and shifting product market power.
Union density mitigates the negative earnings effects of employer market concentration. Unionization benefits white collar and above-median workers at the firm most in more competitive markets.
Union membership disproportionately benefits natives, which increases gaps between immigrants and natives.
Workers exhibit reference-dependent labor supply around expectations. Their expectations are based upon optimizing long-run objectives at lump-sum bonuses paid by the firm.
The federal government spent over $360 billion from 1990-2015 on place-based policies. Areas with more disadvantage, more segregation, and more non-profit capacity received more of these funds.
We explore how seniors' home equity borrowing responds to house price changes during times of tight vs loose underwriting. We also compare reverse mortgages to forward mortgages.
Perceptions of housing affordability among young adults are more strongly determined by individual financial circumstances than by market conditions.