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On the Heterogeneity in Family Earnings and Income Dynamics in the PSID

Author

Listed:
  • Dmytro Hryshko
  • Iourii Manovskii

Abstract

A large body of knowledge on income dynamics in the United States is based on data from the Panel Study of Income Dynamics (PSID). We find two sets of households in the PSID that differ dramatically in the dynamics of their income. Households headed by the sons of original PSID members have a highly persistent income process, whereas households headed by males who marry daughters of the original PSID members have a much less persistent income process. Using a variety of methods for identification of the persistence of income shocks, we show that these differences, albeit surprising, are highly robust.

Suggested Citation

  • Dmytro Hryshko & Iourii Manovskii, 2018. "On the Heterogeneity in Family Earnings and Income Dynamics in the PSID," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 292-296, May.
    • Handle: RePEc:aea:apandp:v:108:y:2018:p:292-96
    Note: DOI: 10.1257/pandp.20181051
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    Cited by:

    1. Christopher Busch & Alexander Ludwig, 2024. "Higher‐Order Income Risk Over The Business Cycle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(3), pages 1105-1131, August.

    More about this item

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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