A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000
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This paper was prepared for the 2009 NBER Macroeconomics Annual. For helpful discussions, we thank Orazio Attanasio, Richard Blundell, Satyajit Chatterjee, Dean Corbae, Gueorgui Kambourov, Lawrence Katz, Per Krusell, Edward Prescott, Tom Sargent, Robert Shimer, Kjetil Storesletten, Aleh Tsyvinski, Amir Yaron, and especially Daron Acemoglu, David Autor, Francesco Caselli, and Steve Davis, as well as the seminar participants at Carnegie-Mellon, European University Institute, Georgetown, Goethe University Frankfurt, HEC Lausanne, Humboldt, LSE, NYU, Rice, SUNY Stony Brook, University College London, Michigan, Rochester, Toronto, Toulouse, Turkish Central Bank, UT-Austin, Yale, York, University of Zurich, the Federal Reserve Banks of Atlanta and Philadelphia, NBER's Economic Fluctuations and Growth Meeting in Cambridge, the Minnesota Macro Workshop, the Labor Supply and Lifecycle Productivity Workshop organized by the Bank of Canada, the 20th Canadian Macro Study Group Workshop, CEPR's 2007 ESSIM Conference, and the SED conference. Guvenen acknowledges financial support from the National Science Foundation (SES-0649437). All remaining errors are our own. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.