Papers Containing Tag(s): 'Alfred P Sloan Foundation'
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Viewing papers 101 through 105 of 105
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Working PaperEstimating the Hidden Costs of Environmental Regulation
May 2002
Working Paper Number:
CES-02-10
This paper examines whether accounting systems identify all the costs of environmental regulation. We estimate the relation between the 'visible' cost of regulatory compliance, i.e., costs that are correctly classified in firms' accounting systems, and 'hidden' costs i.e., costs that are embedded in other accounts. We use plant-level data from 55 steel mills to estimate hidden costs, and we follow up with structured interviews of corporate-level managers and plant-level accountants. Empirical results show that a $1 increase in the visible cost of environmental regulation is associated with an increase in total cost (at the margin) of $10-11, of which $9-10 are hidden in other accounts. The findings suggest that inappropriate identification and accumulation of the costs of environmental compliance are likely to lead to distorted costs in firms subject to environmental regulation.View Full Paper PDF
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Working PaperThe Measurement of Human Capital in the U.S. Economy
April 2002
Working Paper Number:
tp-2002-09
We develop a new approach to measuring human capital that permits the distinction of both observable and unobservable dimensions of skill by associating human capital with the portable part of an individual's wage rate. Using new large-scale, integrated employer-employee data containing information on 68 million individuals and 3.6 million firms, we explain a very large proportion (84%) of the total variation in wages rates and attribute substantial variation to both individual and employer heterogeneity. While the wage distribution remained largely unchanged between 1992-1997, we document a pronounced right shift in the overall distribution of human capital. Most workers entering our sample, while less experienced, were otherwise more highly skilled, a difference which can be attributed almost exclusively to unobservables. Nevertheless, compared to exiters and continuers, entrants exhibited a greater tendency to match to firms paying below average internal wages. Firms reduced employment shares of low skilled workers and increased employment shares of high skilled workers in virtually every industry. Our results strongly suggest that the distribution of human capital will continue to shift to the right, implying a continuing up-skilling of the employed labor force.View Full Paper PDF
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Working PaperChanging the Boundaries of the Firm: Changes in the Clustering of Human Capital
January 2002
Working Paper Number:
tp-2002-02
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Working PaperWithin and Between Firm Changes in Human Capital, Technology, and Productivity Preliminary and incomplete
December 2001
Working Paper Number:
tp-2001-03
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Working PaperEscaping poverty for low-wage workers The role of employer characteristics and changes
June 2001
Working Paper Number:
tp-2001-02
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