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A Cohort Analysis Of Us Age–Earnings Profiles

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  • Kosei Fukuda

Abstract

Aggregate data on US earnings, classified by period and by age, are decomposed into age, period and cohort effects, using the Bayesian cohort models, which were developed to overcome the identification problem in cohort analysis. The main findings, obtained by comparing college and high school graduates, are threefold. First, the age effects show a downward trend for the age group of 45–49 onwards for high school graduates but do not show any such trend for college graduates. Second, the period effects show a downward trend for high school graduates but reveal no such trend for college graduates. Third, the cohort effects are negligible for both college and high school graduates.

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  • Kosei Fukuda, 2008. "A Cohort Analysis Of Us Age–Earnings Profiles," Bulletin of Economic Research, Wiley Blackwell, vol. 60(2), pages 191-207, April.
    • Handle: RePEc:bla:buecrs:v:60:y:2008:i:2:p:191-207
    DOI: 10.1111/j.0307-3378.2008.00276.x
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    1. Paxson, Christina, 1996. "Saving and growth: Evidence from micro data," European Economic Review, Elsevier, vol. 40(2), pages 255-288, February.
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    6. Kosei Fukuda, 2006. "Age-period-cohort decomposition of aggregate data: an application to US and Japanese household saving rates," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(7), pages 981-998.
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