Personnel Economics

<!DOCTYPE html> <html lang="en" dir="ltr" prefix="content: http://purl.org/rss/1.0/modules/content/ dc: http://purl.org/dc/terms/ foaf: http://xmlns.com/foaf/0.1/ og: http://ogp.me/ns# rdfs: http://www.w3.org/2000/01/rdf-schema# schema: http://schema.org/ sioc: http://rdfs.org/sioc/ns# sioct: http://rdfs.org/sioc/types# skos: http://www.w3.org/2004/02/skos/core# xsd: http://www.w3.org/2001/XMLSchema# "> <head> <script src="/modules/custom/nber_user_auth/js/cookies.js?sngn1u"></script> <meta charset="utf-8" /> <style>/* @see https://github.com/aFarkas/lazysizes#broken-image-symbol */.js img.lazyload:not([src]) { visibility: hidden; }/* @see https://github.com/aFarkas/lazysizes#automatically-setting-the-sizes-attribute */.js img.lazyloaded[data-sizes=auto] { display: block; width: 100%; }</style> <link rel="canonical" href="https://www.nber.org/programs-projects/programs-working-groups%23Groups/personnel-economics" /> <meta property="og:site_name" content="NBER" /> <meta property="og:url" content="https://www.nber.org/programs-projects/programs-working-groups%23Groups/personnel-economics" /> <meta property="og:title" content="Personnel Economics" /> <meta property="og:image" content="https://www.nber.org/sites/default/files/2022-06/NBER-FB-Share-Tile-1200.jpg" /> <meta name="Generator" content="Drupal 10 (https://www.drupal.org)" /> <meta name="MobileOptimized" content="width" /> <meta name="HandheldFriendly" content="true" /> <meta name="viewport" content="width=device-width, initial-scale=1.0" /> <link rel="icon" href="/themes/custom/nber/favicon.ico" type="image/vnd.microsoft.icon" /> <script src="/sites/default/files/google_tag/primary/google_tag.script.js?sngn1u" defer></script> <title>Personnel Economics | NBER</title> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/ajax-progress.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/align.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/autocomplete-loading.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/fieldgroup.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/container-inline.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/clearfix.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/details.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/hidden.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/item-list.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/js.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/nowrap.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/position-container.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/progress.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/reset-appearance.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/resize.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/sticky-header.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/system-status-counter.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/system-status-report-counters.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/system-status-report-general-info.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/tabledrag.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/tablesort.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/core/modules/system/css/components/tree-child.module.css?sngn1u" /> <link rel="stylesheet" media="all" href="/modules/contrib/paragraphs/css/paragraphs.unpublished.css?sngn1u" /> <link rel="stylesheet" media="all" href="/modules/contrib/sitewide_alert/css/sitewide_alert.css?sngn1u" /> <link rel="stylesheet" media="all" href="/themes/custom/nber/assets/build/css/nber-generated.css?sngn1u" />  <link rel='preconnect' href='https://fonts.gstatic.com' crossorigin> <link rel="preload" as="font" type="font/woff2" href="/themes/custom/nber/assets/fonts/arimo-v17-latin_greek-regular.woff2" crossorigin="anonymous"> <link rel="preload" as="font" type="font/woff2" href="/themes/custom/nber/assets/fonts/arimo-v17-latin_greek-700.woff2" crossorigin="anonymous"> <link rel="preload" as="font" type="font/woff2" href="/themes/custom/nber/assets/fonts/arimo-v17-latin_greek-italic.woff2" crossorigin="anonymous"> <link rel="preload" as="font" type="font/woff2" href="/themes/custom/nber/assets/fonts/arimo-v17-latin_greek-700italic.woff2" crossorigin="anonymous"> <link rel="preload" as="font" type="font/woff2" href="/themes/custom/nber/assets/fonts/TiemposHeadlineWeb-Bold.woff2" crossorigin="anonymous"> <link rel="preload" as="font" type="font/woff2" href="/themes/custom/nber/assets/fonts/TiemposHeadlineWeb-Bold.woff2" crossorigin="anonymous"> <link rel="preload" as="font" type="font/woff2" href="/themes/custom/nber/assets/fonts/TiemposHeadlineWeb-Regular.woff2" crossorigin="anonymous"> <link rel="preload" as="font" type="font/woff2" href="/themes/custom/nber/assets/fonts/TiemposHeadlineWeb-Medium.woff2" crossorigin="anonymous"> </head> <body> <a href="#main-content" class="visually-hidden focusable"> Skip to main content </a> <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-MVRPF7C" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript><div data-sitewide-alert></div> <div class="dialog-off-canvas-main-canvas" data-off-canvas-main-canvas> <header class="header"> <div class="content-wrap"> <div class="header__grid header__branding-utility-user"> <div class="header__branding"> <a href="/" aria-label="NBER: National Bureau of Economic Research"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 292.75 31.24"><title>NBER: National Bureau of Economic Research</title><path d="M149.44,8.91a8.1,8.1,0,0,1,.77,1.23h.06s-.05-.77-.05-1.94V4.49h2.11v9.15h-1.92l-3.23-4.35a9.3,9.3,0,0,1-.87-1.35h-.07a17.08,17.08,0,0,1,.1,2.06v3.64h-2.11V4.49h2Z"></path><path d="M160,11.73h-3.46l-.65,1.91h-2.21L157,4.49h2.61l3.34,9.15h-2.27ZM157.13,10h2.25L159,9a18,18,0,0,1-.72-2.61h-.06a23.42,23.42,0,0,1-.74,2.59Z"></path><path d="M165,13.64V6.32h-2.5V4.49h7.13V6.32h-2.55v7.32Z"></path><path d="M173.06,4.49v9.15H171V4.49Z"></path><path d="M174.89,9.07c0-3.08,1.63-4.77,4.34-4.77s4.35,1.69,4.35,4.77-1.65,4.75-4.35,4.75S174.89,12.13,174.89,9.07Zm2.19,0c0,1.8.7,2.91,2.15,2.91s2.15-1.11,2.15-2.91-.71-2.92-2.15-2.92S177.08,7.28,177.08,9.1Z"></path><path d="M190.62,8.91a8.47,8.47,0,0,1,.76,1.23h.07s0-.77,0-1.94V4.49h2.11v9.15h-1.93l-3.23-4.35a9.3,9.3,0,0,1-.87-1.35h-.06a17.08,17.08,0,0,1,.1,2.06v3.64H185.4V4.49h2Z"></path><path d="M201.18,11.73h-3.46l-.65,1.91h-2.21l3.31-9.15h2.61l3.34,9.15h-2.27ZM198.31,10h2.25l-.37-1a18,18,0,0,1-.72-2.61h-.06a22.38,22.38,0,0,1-.75,2.59Z"></path><path d="M207.58,4.49V11.8h3.57v1.84h-5.69V4.49Z"></path><path d="M221.16,9a2.08,2.08,0,0,1,2,2.16c0,1.5-1,2.5-3.23,2.5h-3.74V4.49H220c1.85,0,2.84.85,2.84,2.3a2,2,0,0,1-1.65,2.12Zm-1.63-.67c.72,0,1.18-.28,1.18-1s-.45-1-1.22-1h-1.17v2Zm-1.21,3.54h1.49c.8,0,1.25-.25,1.25-1s-.42-1-1.25-1h-1.49Z"></path><path d="M232.38,4.49v6.09c0,2.47-1.74,3.24-3.78,3.24s-3.77-.77-3.77-3.24V4.49h2.11V10c0,1.3.34,2.08,1.66,2.08s1.68-.78,1.68-2.1V4.49Z"></path><path d="M239.6,13.64a1.64,1.64,0,0,1-.49-1l-.34-1.37c-.18-.77-.54-.91-1.24-.91h-.9v3.23h-2.11V4.49h3.6c2,0,3.32.74,3.32,2.79a2.1,2.1,0,0,1-2,2.3v0A1.65,1.65,0,0,1,241,11l.47,1.71a2.06,2.06,0,0,0,.51,1Zm-3-5H238c.84,0,1.31-.33,1.31-1.2s-.44-1.2-1.31-1.2h-1.35Z"></path><path d="M249.69,13.64h-6.14V4.49h6.14V6.32h-4V8.14h3.55V9.89h-3.55V11.8h4Z"></path><path d="M256.94,11.73h-3.46l-.66,1.91h-2.2l3.31-9.15h2.61l3.33,9.15h-2.26ZM254.07,10h2.25L256,9a18,18,0,0,1-.72-2.61h-.06a22.38,22.38,0,0,1-.75,2.59Z"></path><path d="M268.37,4.49v6.09c0,2.47-1.74,3.24-3.78,3.24s-3.77-.77-3.77-3.24V4.49h2.11V10c0,1.3.34,2.08,1.66,2.08s1.68-.78,1.68-2.1V4.49Z"></path><path d="M277.87,5.39a3,3,0,0,1,3.29,3.12,4.76,4.76,0,0,1-4.68,4.83,3,3,0,0,1-3.29-3.11A4.79,4.79,0,0,1,277.87,5.39Zm0,.29c-.91,0-1.67,1.31-2.16,3a10.89,10.89,0,0,0-.42,2.54c0,1,.25,1.86,1.12,1.86s1.68-1.32,2.15-3A9.8,9.8,0,0,0,279,7.53C279,6.52,278.78,5.68,277.91,5.68Z"></path><path d="M285.69,5.54h1.85l-.17.41h-1.76l-1.69,6.91c-.68,2.76-2,3.79-4.09,3.85v0c1-.44,1.53-2,2.16-4.8L283.36,6h-1l.05-.16,1-.33.17-.6c.72-2.3,2-3.4,3.95-3.4,1.25,0,2.11.51,2.11,1.38a1.32,1.32,0,0,1-1.46,1.24,1.17,1.17,0,0,1-.95-.36,1.16,1.16,0,0,0,1-1.22c0-.5-.23-.8-.7-.8-.79,0-1.21.74-1.64,2.85Z"></path><path d="M150.36,28.89h-6.13V19.74h6.13v1.84h-4V23.4h3.54v1.75h-3.54v1.91h4Z"></path><path d="M159.9,27a4,4,0,0,1-3.93,2.1c-2.49,0-4.2-1.72-4.2-4.77s1.68-4.75,4.47-4.75A3.75,3.75,0,0,1,160,21.87l-2,1a1.74,1.74,0,0,0-1.77-1.45c-1.38,0-2.22,1.1-2.22,2.94s.74,2.86,2.25,2.86a2,2,0,0,0,1.91-1.31Z"></path><path d="M160.87,24.33c0-3.08,1.63-4.77,4.33-4.77s4.35,1.69,4.35,4.77-1.64,4.75-4.35,4.75S160.87,27.39,160.87,24.33Zm2.19,0c0,1.8.7,2.9,2.14,2.9s2.16-1.1,2.16-2.9-.71-2.92-2.16-2.92S163.06,22.54,163.06,24.36Z"></path><path d="M176.6,24.17a8.47,8.47,0,0,1,.76,1.23h.06s0-.78,0-1.94V19.74h2.11v9.15h-1.93l-3.23-4.35a8.71,8.71,0,0,1-.87-1.35h-.06a19.29,19.29,0,0,1,.09,2.07v3.63h-2.11V19.74h2Z"></path><path d="M181.32,24.33c0-3.08,1.63-4.77,4.33-4.77S190,21.25,190,24.33s-1.64,4.75-4.35,4.75S181.32,27.39,181.32,24.33Zm2.19,0c0,1.8.7,2.9,2.14,2.9s2.16-1.1,2.16-2.9-.71-2.92-2.16-2.92S183.51,22.54,183.51,24.36Z"></path><path d="M195.87,26.78l-1.26-2.1a7.59,7.59,0,0,1-.7-1.39h-.06a10,10,0,0,1,.09,1.55v4.05h-2.11V19.74H194l1.72,3.1a6.54,6.54,0,0,1,.65,1.33h.06a8.13,8.13,0,0,1,.66-1.33l1.74-3.1h2.11v9.15h-2.1V24.84a11.22,11.22,0,0,1,.08-1.55h-.06a7.9,7.9,0,0,1-.69,1.39l-1.27,2.1Z"></path><path d="M205.42,19.74v9.15h-2.11V19.74Z"></path><path d="M215.37,27a4,4,0,0,1-3.93,2.1c-2.48,0-4.19-1.72-4.19-4.77s1.68-4.75,4.47-4.75a3.76,3.76,0,0,1,3.73,2.31l-2,1a1.74,1.74,0,0,0-1.77-1.45c-1.39,0-2.23,1.1-2.23,2.94s.75,2.86,2.26,2.86a2,2,0,0,0,1.91-1.31Z"></path><path d="M225.42,28.89a1.55,1.55,0,0,1-.48-.94l-.34-1.37c-.19-.78-.55-.92-1.25-.92h-.9v3.23h-2.11V19.74h3.6c2.05,0,3.33.75,3.33,2.8a2.11,2.11,0,0,1-2,2.3v0a1.67,1.67,0,0,1,1.53,1.34l.46,1.7a2.16,2.16,0,0,0,.51,1Zm-3-5h1.35c.84,0,1.31-.32,1.31-1.19s-.44-1.2-1.31-1.2h-1.35Z"></path><path d="M235.51,28.89h-6.13V19.74h6.13v1.84h-4V23.4H235v1.75h-3.54v1.91h4Z"></path><path d="M238.55,26a1.71,1.71,0,0,0,1.71,1.48c.7,0,1.21-.29,1.21-.91s-.32-.87-1.52-1.24c-2.1-.67-3-1.46-3-3,0-2.06,1.62-2.75,3.22-2.75,1.88,0,3.28.64,3.46,2.38l-2.09.53a1.25,1.25,0,0,0-1.32-1.17c-.59,0-1.06.27-1.06.86s.5.88,1.57,1.21c1.92.6,2.9,1.26,2.9,3,0,2-1.61,2.72-3.55,2.72s-3-.59-3.48-2.24Z"></path><path d="M251.61,28.89h-6.13V19.74h6.13v1.84h-4V23.4h3.54v1.75h-3.54v1.91h4Z"></path><path d="M258.86,27H255.4l-.65,1.91h-2.21l3.31-9.15h2.61l3.34,9.15h-2.27ZM256,25.23h2.25l-.37-1a16.75,16.75,0,0,1-.71-2.61h-.07a23.19,23.19,0,0,1-.74,2.6Z"></path><path d="M268.23,28.89a1.55,1.55,0,0,1-.48-.94l-.35-1.37c-.18-.78-.54-.92-1.24-.92h-.9v3.23h-2.11V19.74h3.6c2.05,0,3.33.75,3.33,2.8a2.11,2.11,0,0,1-2,2.3v0a1.65,1.65,0,0,1,1.52,1.34l.47,1.7a2.06,2.06,0,0,0,.51,1Zm-3-5h1.35c.84,0,1.31-.32,1.31-1.19s-.44-1.2-1.31-1.2h-1.35Z"></path><path d="M279.59,27a4,4,0,0,1-3.93,2.1c-2.48,0-4.19-1.72-4.19-4.77s1.68-4.75,4.47-4.75a3.76,3.76,0,0,1,3.73,2.31l-2,1a1.74,1.74,0,0,0-1.77-1.45c-1.39,0-2.23,1.1-2.23,2.94s.75,2.86,2.26,2.86a2,2,0,0,0,1.91-1.31Z"></path><path d="M281.13,28.89V19.74h2.11v3.59h3.51V19.74h2.11v9.15h-2.11V25.17h-3.51v3.72Z"></path><path d="M49.51,15.57V15.5C56.93,15.57,60,12.67,60,9.88c0-3.11-2.63-5.53-9.74-5.53h-28c-.83,0-1.59.76,0,1.07,2.34.63,4.48,4.49,4.48,12.94v3.28h-.07L20.2,8.91c-2-4-.45-3.07-.45-4.07,0-.49-.59-.49-.79-.49H5.25c-.41,0-1.44,0-1.44.52s.65.49,1.07.49A3.49,3.49,0,0,1,7.33,7V18.57c0,3.52-.66,8.84-4.11,9.49-.24.07-.52.1-.52.48s.38.49.73.49h10.8c1,0,1.07-.87-.14-1-3-.42-5.76-3.66-5.76-13.53v-6l.1-.07L18.89,27.92c.51.93.89,2.42,1.2,2.42a2.77,2.77,0,0,0,1.25-.69A16,16,0,0,1,29.14,26c.34,0,1.41-.07,1.41-.56,0-.93-1.9-.07-2.8-1.79v-5.9c0-9.91,2.73-12,4.35-12.36l.15,0c1.58.22,1.66,1.53,1.66,8.94v4.72c0,8.49-.1,9-2.45,9-.34,0-1,0-1,.55s.59.45.9.45H50.72c6.83,0,9.93-3.18,9.93-7.22C60.65,18.33,58.31,15.09,49.51,15.57Zm-5.42-5.52c0-4.49.31-4.69,2.62-4.69s2.73.58,2.73,3.52v3.38c0,1.93-.59,2.86-3.66,2.86H44.09Zm5.35,9v5.18c0,3.38-.65,3.8-2.69,3.8-2.55,0-2.66-.18-2.66-4.8V16.12h1.62C49.06,16.12,49.47,16.81,49.44,19.05Z"></path><path d="M87.38,19.64l-.76,1.11C84.86,23.47,81.27,28,77.72,28c-1.76,0-2.49-.49-2.49-4V16h1c2.42,0,4.35,1.14,4.42,4.66,0,1.76,1,1.52,1,.41V10.36c0-.9-.83-1.24-1,.24-.41,3.49-2,4.42-4.42,4.42h-1V9.32c.14-3.41.62-4,2.52-4,3.69,0,7.08,4.52,8.39,7.59.1.27.45,1.24.86,1.24s.45-.42.28-1.59L85.45,3.08c-.14-1.14-.56-1.14-1.07-.52-.83.93-1.93,1.66-6.25,1.79H62.5c-.31,0-.9,0-.9.45s.66.56,1,.56c2.35,0,2.45.48,2.45,9v4.72c0,8.49-.1,9-2.45,9-.34,0-1,0-1,.55s.59.45.9.45H78.13c5.94,0,6.35,1,7.08,1.93.31.41.79.48,1-.59l2.24-11.11C88.45,18.88,87.9,18.43,87.38,19.64Z"></path><path d="M120.69,28c-2.24,0-5.69-6.66-5.79-9.63,0-.86-.11-.79-1.35-.59a11,11,0,0,1-8.66-1.14v-.06c4.73-.32,12.59.31,12.59-6.42,0-6.15-6.72-5.84-11.11-5.84H88.81c-.28,0-.86,0-.86.52s.48.49.82.49c2.18,0,2.35.62,2.35,9v4.72c0,8.36-.17,9-2.35,9-.34,0-.82.07-.82.48s.58.52.86.52h14.8c.28,0,.87,0,.87-.52S104,28,103.65,28c-2.18,0-2.35-.62-2.35-9V16.92h2.38L107.86,28c.2.72.31,1,1.1,1h11.66c.32,0,.76,0,.76-.45S121,28,120.69,28ZM101.3,15.91v-5c0-5.46.59-5.52,2.8-5.52S107,5.53,107,9.91c0,5.35-.76,6-3,6Z"></path><rect x="130.19" y="4.35" width="2.2" height="24.6"></rect></svg> </a> </div> <div class="header__utility header__utility--desktop"> <nav class="utility-nav js-utility-nav" aria-label="Utility Navigation"> <ul class="utility-nav__list"> <li class="utility-nav__item"><a href="/subscribe">Subscribe</a></li> <li class="utility-nav__item"><a href="/media">Media</a></li> <li class="utility-nav__item"><a href="/calls-papers-and-proposals">Open Calls</a></li> </ul> </nav> </div> <div class="header__user header__user--desktop"></div> <div class="header__mobile js-header__mobile"> <button type="button" class="btn btn--icon js-hamburger" aria-haspopup="true" aria-expanded="false" aria-controls="nav-search-pane" aria-label="Search" data-target="nav-search-pane" data-focus="search-bar__field--mobile"> <span class="icon-search"> <svg aria-hidden="true" version="1.1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="26" height="26" viewBox="0 0 23 23"> <path d="M9.516 14.016q1.875 0 3.188-1.313t1.313-3.188-1.313-3.188-3.188-1.313-3.188 1.313-1.313 3.188 1.313 3.188 3.188 1.313zM15.516 14.016l4.969 4.969-1.5 1.5-4.969-4.969v-0.797l-0.281-0.281q-1.781 1.547-4.219 1.547-2.719 0-4.617-1.875t-1.898-4.594 1.898-4.617 4.617-1.898 4.594 1.898 1.875 4.617q0 2.438-1.547 4.219l0.281 0.281h0.797z"></path> </svg> </span> </button> <button type="button" class="btn btn--icon trigger-hamburger js-hamburger" aria-haspopup="true" aria-expanded="false" aria-controls="nav-search-pane" aria-label="Menu" data-target="nav-search-pane"><span class="icon-hamburger"></span></button> </div> </div> <div class="header__grid header__nav-search" id="nav-search-pane" aria-hidden="false"> <div class="header__user-close"> <div class="header__user header__user--mobile"></div> <button type="button" class="btn btn--link trigger-hamburger-close js-hamburger-close"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 24 24"><path d="M23 20.168l-8.185-8.187 8.185-8.174-2.832-2.807-8.182 8.179-8.176-8.179-2.81 2.81 8.186 8.196-8.186 8.184 2.81 2.81 8.203-8.192 8.18 8.192z"/></svg> </button> </div> <div class="header__search header__search--mobile"> <form action="/search" class="form search-bar" role="search"> <div class="form__field form__field--search js-label form__field--placeholder"> <label for="search-bar__field--mobile">Search</label> <input name="q" type="text" id="search-bar__field--mobile" class="search-bar__field--mobile"> <button class="btn btn--no-style" aria-label="Search"> <svg aria-hidden="true" version="1.1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="24" height="24" viewBox="0 0 24 24"> <path d="M9.516 14.016q1.875 0 3.188-1.313t1.313-3.188-1.313-3.188-3.188-1.313-3.188 1.313-1.313 3.188 1.313 3.188 3.188 1.313zM15.516 14.016l4.969 4.969-1.5 1.5-4.969-4.969v-0.797l-0.281-0.281q-1.781 1.547-4.219 1.547-2.719 0-4.617-1.875t-1.898-4.594 1.898-4.617 4.617-1.898 4.594 1.898 1.875 4.617q0 2.438-1.547 4.219l0.281 0.281h0.797z"></path> </svg> </button> </div> </form> </div> <div class="header__nav js-header__nav"> <nav class="primary-nav js-primary-nav" aria-label="Main Navigation" role="navigation"> <ul class="primary-nav__list "> <li class="primary-nav__item primary-nav__item--has-children primary-nav__item--has-megadropdown"> <button type="button" class="primary-nav__action js-primary-nav__action" aria-haspopup="true" aria-expanded="false">Research</button> <div class="primary-nav__dropdown"> <div class="primary-nav__dropdown-heading"></div> <div class="primary-nav__dropdown-body"> <a href="/research" data-is-megamenu="1" title="This is a link to the research page" class="primary-nav__dropdown-link link link--arrow" data-drupal-link-system-path="node/7206">EXPLORE Research</a> <ul class="primary-nav__sublist "> <li class="primary-nav__sublist-column"> <span data-is-column="1" class="link primary-nav__sublist-heading primary-nav__sublist-heading--has-link">Findings</span> <ul class=" primary-nav__tertiary"> <li class="primary-nav__subitem"> <a href="/papers" class="link" data-drupal-link-system-path="node/43401">Working Papers</a> </li> <li class="primary-nav__subitem"> <a href="/books-and-chapters" class="link" data-drupal-link-system-path="node/43406">Books & Chapters</a> </li> <li class="primary-nav__subitem"> <a href="/research/videos" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/758387">Videos</a> </li> </ul> </li> <li class="primary-nav__sublist-column"> <span data-is-column="1" class="link primary-nav__sublist-heading primary-nav__sublist-heading--has-link">Periodicals</span> <ul class=" primary-nav__tertiary"> <li class="primary-nav__subitem"> <a href="/digest" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/803540">The Digest</a> </li> <li class="primary-nav__subitem"> <a href="/reporter" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/803541">The Reporter</a> </li> <li class="primary-nav__subitem"> <a href="/brd" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/803542">The Bulletin on Retirement and Disability</a> </li> <li class="primary-nav__subitem"> <a href="/bh" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/803543">The Bulletin on Health</a> </li> <li class="primary-nav__subitem"> <a href="/be" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/803544">The Bulletin on Entrepreneurship</a> </li> <li class="primary-nav__subitem"> <a href="/bah" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/803545">The Bulletin on Aging & Health Archives</a> </li> </ul> </li> <li class="primary-nav__sublist-column"> <span data-is-megamenu="1" data-is-column="1" class="link primary-nav__sublist-heading primary-nav__sublist-heading--has-link">Data & Business Cycles</span> <ul class=" primary-nav__tertiary"> <li class="primary-nav__subitem"> <a href="/research/boston-research-data-center" class="link" data-drupal-link-system-path="node/155940">Boston Research Data Center</a> </li> <li class="primary-nav__subitem"> <a href="/research/business-cycle-dating" class="link" data-drupal-link-system-path="node/98388">Business Cycle Dating</a> </li> <li class="primary-nav__subitem"> <a href="/research/data" class="link" data-drupal-link-system-path="node/93388">Public Use Data Archive</a> </li> </ul> </li> <li class="primary-nav__sublist-column"> <a href="/research/topics" data-is-megamenu="0" data-is-column="1" data-invisible="0" class="link link--arrow primary-nav__sublist-heading primary-nav__sublist-heading--has-link" data-drupal-link-system-path="node/43411">All Topics</a> <ul class=" primary-nav__tertiary"> <li class="primary-nav__subitem"> <a href="/topics/taxation" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="taxonomy/term/4720">Taxation</a> </li> <li class="primary-nav__subitem"> <a href="/themes/immigration/immigrationsummary.shtml?page=1&perPage=50" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-query="{"page":"1","perPage":"50"}" data-drupal-link-system-path="taxonomy/term/591">Unemployment and Immigration</a> </li> <li class="primary-nav__subitem"> <a href="/taxonomy/term/681" class="link" data-drupal-link-system-path="taxonomy/term/681">Energy</a> </li> <li class="primary-nav__subitem"> <a href="/topics/entrepreneurship" class="link" data-drupal-link-system-path="taxonomy/term/4701">Entrepreneurship</a> </li> <li class="primary-nav__subitem"> <a href="/taxonomy/term/481" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="taxonomy/term/481">Trade</a> </li> </ul> </li> </ul> </div> </div> </li> <li class="primary-nav__item primary-nav__item--has-children primary-nav__item--has-megadropdown active-trail primary-nav__item--is-active"> <button type="button" class="primary-nav__action js-primary-nav__action" aria-haspopup="true" aria-expanded="false">Programs & Projects</button> <div class="primary-nav__dropdown"> <div class="primary-nav__dropdown-heading"></div> <div class="primary-nav__dropdown-body"> <a href="/programs-projects" data-is-megamenu="1" class="primary-nav__dropdown-link link link--arrow" data-drupal-link-system-path="node/7211">EXPLORE Programs & Projects</a> <ul class="primary-nav__sublist "> <li class="primary-nav__sublist-column"> <a href="/programs-projects/programs-working-groups" data-is-column="1" class="link link--arrow primary-nav__sublist-heading primary-nav__sublist-heading--has-link" data-drupal-link-system-path="node/43416">Programs</a> <ul class=" primary-nav__tertiary"> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/economics-aging" class="link" data-drupal-link-system-path="node/11541">Economics of Aging</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/asset-pricing" class="link" data-drupal-link-system-path="node/11546">Asset Pricing</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/children-and-families" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/11551">Children and Families</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/corporate-finance" class="link" data-drupal-link-system-path="node/11556">Corporate Finance</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/development-economics" class="link" data-drupal-link-system-path="node/11641">Development Economics</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/development-american-economy" class="link" data-drupal-link-system-path="node/11561">Development of the American Economy</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/economic-fluctuations-and-growth" class="link" data-drupal-link-system-path="node/11571">Economic Fluctuations and Growth</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/economics-education" class="link" data-drupal-link-system-path="node/11566">Economics of Education</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/economics-health" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/679497">Economics of Health</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/environment-and-energy-economics" class="link" data-drupal-link-system-path="node/11636">Environment and Energy Economics</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/industrial-organization" class="link" data-drupal-link-system-path="node/11586">Industrial Organization</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/international-finance-and-macroeconomics" class="link" data-drupal-link-system-path="node/11591">International Finance and Macroeconomics</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/international-trade-and-investment" class="link" data-drupal-link-system-path="node/11596">International Trade and Investment</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/labor-studies" class="link" data-drupal-link-system-path="node/11601">Labor Studies</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/law-and-economics" class="link" data-drupal-link-system-path="node/11606">Law and Economics</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/monetary-economics" class="link" data-drupal-link-system-path="node/11611">Monetary Economics</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/political-economy" class="link" data-drupal-link-system-path="node/11631">Political Economy</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/productivity-innovation-and-entrepreneurship" class="link" data-drupal-link-system-path="node/11616">Productivity, Innovation, and Entrepreneurship</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups/public-economics" class="link" data-drupal-link-system-path="node/11621">Public Economics</a> </li> </ul> </li> <li class="primary-nav__sublist-column active-trail primary-nav__subitem--is-active"> <a href="/programs-projects/programs-working-groups#Groups" data-is-column="1" class="link link--arrow primary-nav__sublist-heading primary-nav__sublist-heading--has-link" data-drupal-link-system-path="node/43416">Working Groups</a> <ul class=" primary-nav__tertiary"> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/behavioral-finance" class="link" data-drupal-link-system-path="node/11686">Behavioral Finance</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/chinese-economy" class="link" data-drupal-link-system-path="node/11676">Chinese Economy </a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/cohort-studies" class="link" data-drupal-link-system-path="node/11646">Cohort Studies </a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/economics-crime" class="link" data-drupal-link-system-path="node/11681">Economics of Crime</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/entrepreneurship" class="link" data-drupal-link-system-path="node/11651">Entrepreneurship</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/gender-economy" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/715312">Gender in the Economy</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/household-finance" class="link" data-drupal-link-system-path="node/11706">Household Finance</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/innovation-policy" class="link" data-drupal-link-system-path="node/11691">Innovation Policy</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/insurance" class="link" data-drupal-link-system-path="node/11656">Insurance</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/market-design" class="link" data-drupal-link-system-path="node/11696">Market Design</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/organizational-economics" class="link" data-drupal-link-system-path="node/11671">Organizational Economics</a> </li> <li class="primary-nav__subitem active-trail primary-nav__subitem--is-active"> <a href="/programs-projects/programs-working-groups%23Groups/personnel-economics" class="link is-active" data-drupal-link-system-path="node/11661">Personnel Economics</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/race-and-stratification-economy" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/281780">Race and Stratification in the Economy</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/programs-working-groups%23Groups/urban-economics" class="link" data-drupal-link-system-path="node/11666">Urban Economics</a> </li> </ul> </li> <li class="primary-nav__sublist-column"> <a href="/programs-projects/projects-and-centers" data-is-megamenu="0" data-is-column="1" data-invisible="0" class="link link--arrow primary-nav__sublist-heading primary-nav__sublist-heading--has-link" data-drupal-link-system-path="node/43421">All Projects & Centers</a> <ul class=" primary-nav__tertiary"> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/boosting-grant-applications-faculty-msis" class="link" data-drupal-link-system-path="node/360310">Boosting Grant Applications from Faculty at MSIs</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/center-aging-and-health-research" class="link" data-drupal-link-system-path="node/93444">Center for Aging and Health Research</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/ADRD" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/915763">Center on Economics of Alzheimer's Disease</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/conference-research-income-and-wealth" class="link" data-drupal-link-system-path="node/44210">Conference on Research in Income and Wealth</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/economics-digitization" class="link" data-drupal-link-system-path="node/137721">Economics of Digitization</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/financial-frictions-and-systemic-risk" class="link" data-drupal-link-system-path="node/772597">Financial Frictions and Systemic Risk</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/healthcare-decision-making-and-outcomes-people-living-alzheimers-disease" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/99656">Healthcare Decision-Making and Outcomes for People Living with Alzheimer's Disease</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/annual-conference-macroeconomics" class="link" data-drupal-link-system-path="node/98834">Macroeconomics Annual</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/measuring-clinical-and-economic-outcomes-associated-delivery-systems" class="link" data-drupal-link-system-path="node/99655">Measuring the Clinical and Economic Outcomes Associated with Delivery Systems</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/oregon-health-insurance-experiment" class="link" data-drupal-link-system-path="node/93448">Oregon Health Insurance Experiment</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/retirement-and-disability-research-center" class="link" data-drupal-link-system-path="node/93438">Retirement and Disability Research Center</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/nber-roybal-center-behavior-change-health" class="link" data-drupal-link-system-path="node/93452">The Roybal Center for Behavior Change in Health</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/science-science-funding" class="link" data-drupal-link-system-path="node/93447">Science of Science Funding</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/training-program-aging-and-health-economics" class="link" data-drupal-link-system-path="node/94634">Training Program in Aging and Health Economics</a> </li> <li class="primary-nav__subitem"> <a href="/programs-projects/projects-and-centers/transportation-economics-21st-century" class="link" data-drupal-link-system-path="node/105595">Transportation Economics in the 21st Century</a> </li> </ul> </li> </ul> </div> </div> </li> <li class="primary-nav__item primary-nav__item--has-children"> <button type="button" class="primary-nav__action js-primary-nav__action" aria-haspopup="true" aria-expanded="false">Conferences</button> <div class="primary-nav__dropdown"> <div class="primary-nav__dropdown-heading"></div> <div class="primary-nav__dropdown-body"> <a href="/conferences" class="primary-nav__dropdown-link link link--arrow" data-drupal-link-system-path="node/43386">EXPLORE Conferences</a> <ul class="primary-nav__sublist "> <li class="primary-nav__subitem"> <a href="/summer-institute" class="link" data-drupal-link-system-path="node/96979">Summer Institute</a> </li> </ul> </div> </div> </li> <li class="primary-nav__item"> <a href="/affiliated-scholars" class="primary-nav__action" data-drupal-link-system-path="node/7221">Affiliated Scholars</a> </li> <li class="primary-nav__item primary-nav__item--has-children"> <button type="button" class="primary-nav__action js-primary-nav__action" aria-haspopup="true" aria-expanded="false">NBER News</button> <div class="primary-nav__dropdown"> <div class="primary-nav__dropdown-heading"></div> <div class="primary-nav__dropdown-body"> <a href="/nber-news" class="primary-nav__dropdown-link link link--arrow" data-drupal-link-system-path="node/94726">EXPLORE NBER News</a> <ul class="primary-nav__sublist "> <li class="primary-nav__subitem"> <a href="/nber-research-news" class="link" data-drupal-link-system-path="node/93183">Research in the News</a> </li> <li class="primary-nav__subitem"> <a href="/nber-news/nobel-laureates" class="link" data-drupal-link-system-path="node/94670">Nobel Laureates</a> </li> <li class="primary-nav__subitem"> <a href="/nber-news/featured-working-papers-archive" class="link" data-drupal-link-system-path="node/98916">Featured Working Papers Archive</a> </li> </ul> </div> </div> </li> <li class="primary-nav__item primary-nav__item--has-children"> <button type="button" class="primary-nav__action js-primary-nav__action" aria-haspopup="true" aria-expanded="false">Career Resources</button> <div class="primary-nav__dropdown"> <div class="primary-nav__dropdown-heading"></div> <div class="primary-nav__dropdown-body"> <a href="/career-resources" class="primary-nav__dropdown-link link link--arrow" data-drupal-link-system-path="node/120606">EXPLORE Career Resources</a> <ul class="primary-nav__sublist "> <li class="primary-nav__subitem"> <a href="/career-resources/research-assistant-positions-nber" class="link" data-drupal-link-system-path="node/217004">RA Positions – at NBER</a> </li> <li class="primary-nav__subitem"> <a href="/career-resources/research-assistant-positions-not-nber" class="link" data-drupal-link-system-path="node/120216">RA Positions – not at the NBER</a> </li> <li class="primary-nav__subitem"> <a href="/career-resources/staff-positions-nber" class="link" data-drupal-link-system-path="node/217005">Staff Positions at NBER</a> </li> <li class="primary-nav__subitem"> <a href="/career-resources/calls-fellowship-applications" class="link" data-drupal-link-system-path="node/120607">Calls for Fellowship Applications</a> </li> <li class="primary-nav__subitem"> <a href="/career-resources/postdoctoral-and-graduate-fellows-academic-year-2024-25" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/831005">Current Fellowship Recipients</a> </li> </ul> </div> </div> </li> <li class="primary-nav__item primary-nav__item--has-children"> <button type="button" class="primary-nav__action js-primary-nav__action" aria-haspopup="true" aria-expanded="false">About</button> <div class="primary-nav__dropdown"> <div class="primary-nav__dropdown-heading"></div> <div class="primary-nav__dropdown-body"> <a href="/about-nber" class="primary-nav__dropdown-link link link--arrow" data-drupal-link-system-path="node/93182">EXPLORE About</a> <ul class="primary-nav__sublist "> <li class="primary-nav__subitem"> <a href="/about-nber/leadership-governance" class="link" data-drupal-link-system-path="node/44127">Leadership & Governance</a> </li> <li class="primary-nav__subitem"> <a href="/about-nber/support-funding" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/98501">Support & Funding</a> </li> <li class="primary-nav__subitem"> <a href="/about-nber/history" class="link" data-drupal-link-system-path="node/44128">History</a> </li> <li class="primary-nav__subitem"> <a href="/about-nber/standards-conduct" class="link" data-drupal-link-system-path="node/93846">Standards of Conduct</a> </li> <li class="primary-nav__subitem"> <a href="/about-nber/nber-staff" data-is-megamenu="0" data-is-column="0" data-invisible="0" class="link" data-drupal-link-system-path="node/93848">Staff</a> </li> </ul> </div> </div> </li> </ul> </nav> <div class="header__utility header__utility--mobile"> <nav class="utility-nav js-utility-nav" aria-label="Utility Navigation"> <ul class="utility-nav__list"> <li class="utility-nav__item"><a href="/subscribe">Subscribe</a></li> <li class="utility-nav__item"><a href="/media">Media</a></li> <li class="utility-nav__item"><a href="/calls-papers-and-proposals">Open Calls</a></li> </ul> </nav> </div> </div> <div class="header__search header__search--desktop js-search-menu" aria-label="Search"> <button type="button" class="btn btn--icon header__search-button js-search-button" id="menu2" aria-haspopup="true" aria-controls="menu1" aria-expanded="false"> <span class="icon-search"><svg version="1.1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="24" height="24" viewBox="0 0 24 24"> <path d="M9.516 14.016q1.875 0 3.188-1.313t1.313-3.188-1.313-3.188-3.188-1.313-3.188 1.313-1.313 3.188 1.313 3.188 3.188 1.313zM15.516 14.016l4.969 4.969-1.5 1.5-4.969-4.969v-0.797l-0.281-0.281q-1.781 1.547-4.219 1.547-2.719 0-4.617-1.875t-1.898-4.594 1.898-4.617 4.617-1.898 4.594 1.898 1.875 4.617q0 2.438-1.547 4.219l0.281 0.281h0.797z"></path> </svg> </span> </button> <div class="header__search-drop-down js-search-content" id="menu1"> <div class="header__search-inner-container"> <form action="/search" class="form search-bar" role="search"> <div class="form__field form__field--search js-label form__field--placeholder"> <label for="search-bar__field--desktop">Search</label> <input name="q" type="text" id="search-bar__field--desktop"> <button class="btn btn--no-style" aria-label="Search"> <svg aria-hidden="true" version="1.1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="24" height="24" viewBox="0 0 24 24"> <path d="M9.516 14.016q1.875 0 3.188-1.313t1.313-3.188-1.313-3.188-3.188-1.313-3.188 1.313-1.313 3.188 1.313 3.188 3.188 1.313zM15.516 14.016l4.969 4.969-1.5 1.5-4.969-4.969v-0.797l-0.281-0.281q-1.781 1.547-4.219 1.547-2.719 0-4.617-1.875t-1.898-4.594 1.898-4.617 4.617-1.898 4.594 1.898 1.875 4.617q0 2.438-1.547 4.219l0.281 0.281h0.797z"></path> </svg> </button> </div> </form> </div> </div> </div> </div> </div> </header> <main> <a id="main-content" tabindex="-1"></a> <div id="block-nber-breadcrumbs"> <nav class="breadcrumbs" aria-label="You are here:"> <ul class="breadcrumbs__list "> <li class="breadcrumbs__item"> <a href="/" class="breadcrumbs__link">Home</a> </li> <li class="breadcrumbs__item"> <a href="/programs-projects" class="breadcrumbs__link">Programs & Projects</a> </li> <li class="breadcrumbs__item"> <a href="/programs-projects/programs-working-groups" class="breadcrumbs__link">Programs & Working Groups</a> </li> <li class="breadcrumbs__item"> Personnel Economics </li> </ul> </nav> </div> <div class="page-header page-header--book-style page-header--no-sidebar"> <div class="page-header__gradient-placeholder"></div> <div class="page-header__title-page"> <h1 class="page-header__title"> <span>Personnel Economics</span> </h1> <div class="page-header__share"> <div class="share"> <span class="share__label">Share</span> <div class="share__buttons addthis_toolbox addthis_default_style"> <a class="share__btn addthis_button_twitter" title="Twitter" href="#share_twitter"> <span class="share__btn-text">X</span><span class="share__btn-icon"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="24" height="19" viewBox="0 0 24 19"> <g transform="scale(0.075,0.075) translate(10,0)"> <path d="m236 0h46l-101 115 118 156h-92.6l-72.5-94.8-83 94.8h-46l107-123-113-148h94.9l65.5 86.6zm-16.1 244h25.5l-165-218h-27.4z"/> </g> </svg> </span> </a> <a class="share__btn addthis_button_linkedin" target="_blank" title="LinkedIn" href="#share_linkedin"> <span class="share__btn-text">LinkedIn</span><span class="share__btn-icon"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="24" height="23" viewBox="0 0 24 23"> <g transform="translate(-1101 -3501)"> <path d="M1113.97 3510.57c2.1-3.76 11.03-4.04 11.03 3.6v9.83h-5v-8.15c0-4.9-6.03-4.53-6.03 0v8.15H1109v-15.52h4.97zM1106 3524h-5v-16h5zm0-20.5a2.5 2.5 0 1 1-5 0 2.5 2.5 0 0 1 5 0z"></path> </g> </svg> </span></a> <a class="share__btn" target="_blank" title="Email" href="mailto:?subject=Personnel Economics&body=https://www.nber.org/programs-projects/programs-working-groups%23Groups/personnel-economics"> <span class="share__btn-text">Email</span><span class="share__btn-icon"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="24" height="24" viewBox="0 0 24 24"> <g> <path d="M20,4 L4,4 C2.9,4 2.01,4.9 2.01,6 L2,18 C2,19.1 2.9,20 4,20 L20,20 C21.1,20 22,19.1 22,18 L22,6 C22,4.9 21.1,4 20,4 L20,4 Z M20,8 L12,13 L4,8 L4,6 L12,11 L20,6 L20,8 L20,8 Z"></path> </g> </svg> </span></a> </div> </div> </div> </div> <div class="page-header__intro page-header__intro--centered page-header__intro--align-center"> <div class="page-header__intro-inner"> <p>The Personnel Economics Working Group studies human resource questions that arise within firms, including hiring, promotion policy, the design of cash compensation and benefit packages, and outsourcing. </p> <a class="link link--arrow" href="/conferences/firms-and-distribution-income-roles-productivity-and-luck-fall-2015">The latest working group meeting</a> </div> </div> </div> <div class="page-subtitle page-subtitle--centered page-subtitle--grey"> <h2 class="page-subtitle__title"> Director </h2> </div> <section class="promo-grid promo-grid--2-up promo-grid--grey promo-grid--row-rules"> <div class="promo-grid__promos"> <div class="digest-card digest-card--right-image"> <img loading="lazy" src="/sites/default/files/styles/author_card/public/profile-pictures/2020-03/Mitchell%20Hoffman%20Profile.png?itok=8bGaajra" width="160" height="209" typeof="foaf:Image" class="digest-card__image" /> <div class="digest-card__title"> <a href="/people/mitchell_hoffman" hreflang="en">Mitchell Hoffman</a> </div> <div class="digest-card__summary"> <p>Mitchell Hoffman is a Professor of Economics at the University of California, Santa Barbara.  His research focuses on worker hiring and on the determinants of labor productivity, drawing on insights from labor and organizational economics. </p> </div> </div> </div> </section> <div id="listing-1322794" class="js-search-mountnode" data-id="listing-1322794"></div> <script> var config = { id: 'listing-1322794', api: '/api/v1/generic_listing/nid/11661/contentType,contentType,contentType,contentType,contentType,contentType,contentType,contentType/article,book,chapter,conference,lecture,news_reference,project,working_paper/search/contentType', type: "listing", showCalendar: true, dateType: 'default', showClear: true, showNewKey: false, showResultsSummary: true, forceFilters: true, perPageOptions: [20, 50, 100], dictionary: { resultsTitle: "Explore Working Group Content", facetsTitle: "Filter Results", facetsDescription: "NBER projects in this search date approx 3 years back.", searchBoxLabel: "Title, Number or Keyword", singleresult: "result", pluralresult: "results", perPageLabelBefore: "Show", perPageLabelAfter: "results", } }; window.nberListingConfigs = window.nberListingConfigs || []; window.nberListingConfigs.push(config); </script> <div class="subfooter"> <section id="block-programsandworkinggroupscta" class="promo-grid promo-grid--2-up"> <div class="promo-grid__promos"> <div class="card-promo has-gradient--blue-periwinkle"> <div class="card-promo__title">Abstracts of New NBER Working Papers Delivered to Your Inbox</div> <div class="card-promo__link"> <a href="http://mydev.nber.org/email_preferences" class="link link--arrow">Sign-Up for New This Week</a> </div> </div> <div class="card-promo has-gradient--blue-periwinkle"> <div class="card-promo__title">Explore Ongoing NBER Research Projects</div> <div class="card-promo__link"> <a href="/projects" class="link link--arrow">Projects Overview</a> </div> </div> </div> </section> </div> </main> <nav class="back-to-top"> <span aria-label="Return to top of page" class="back-to-top__link"></span> </nav> <footer class="footer"> <div id="block-footercontact" class="footer__contact"> <div class="footer__contact-name">National Bureau of Economic Research</div> <div class="footer__contact-address"> <p><a href="/contact-nber">Contact Us</a><br>1050 Massachusetts Avenue<br>Cambridge, MA 02138<br><a href="tel:+16178683900">617-868-3900</a><br><a href="mailto:info@nber.org">info@nber.org</a><br><a href="mailto:webaccessibility@nber.org">webaccessibility@nber.org</a></p> </div> </div> <div id="block-footerlinks" class="footer__accessibility"> <nav class="footer-quick-links" aria-label="Footer Quick Links"> <ul class="footer__links"> <li class="footer__link"><a href="/">Homepage</a></li> </ul> </nav> </div> <div id="block-footerlegal" class="footer__legal"> <nav class="footer-legal" aria-label="Footer Legal Links"> <ul> <li> <a href="/about-nber/website-accessibility-policy" data-is-megamenu="0" data-is-column="0" data-invisible="0">Accessibility Policy</a> </li> <li> <a href="/nber-diversity-policy-statement" data-is-megamenu="0" data-is-column="0" data-invisible="0" data-drupal-link-system-path="node/638293">Diversity Policy</a> </li> <li> <a href="/about-nber/nber-website-privacy-policy" data-is-megamenu="0" data-is-column="0" data-invisible="0">Privacy Policy</a> </li> </ul> </nav> </div> <div class="footer__follow"> <div class="footer__follow-label">Follow</div> <ul class="footer__follow-links"> <li class="footer__follow-link"><a href="https://twitter.com/nberpubs" aria-label="Follow us on X"><svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="24" height="19" viewBox="0 0 24 19"><g transform="scale(0.075,0.075) translate(10,0)"><path d="m236 0h46l-101 115 118 156h-92.6l-72.5-94.8-83 94.8h-46l107-123-113-148h94.9l65.5 86.6zm-16.1 244h25.5l-165-218h-27.4z"></path></g></svg></a></li> <li class="footer__follow-link"><a href="https://www.linkedin.com/company/national-bureau-of-economic-research" aria-label="Connect with us on LinkedIn"><svg aria-hidden="true" height="23" viewBox="0 0 24 23" width="24" xlink="http://www.w3.org/1999/xlink" xmlns="http://www.w3.org/2000/svg"><g transform="translate(-1101 -3501)"><path d="M1113.97 3510.57c2.1-3.76 11.03-4.04 11.03 3.6v9.83h-5v-8.15c0-4.9-6.03-4.53-6.03 0v8.15H1109v-15.52h4.97zM1106 3524h-5v-16h5zm0-20.5a2.5 2.5 0 1 1-5 0 2.5 2.5 0 0 1 5 0z"></path></g></svg></a></li> <li class="footer__follow-link"><a href="https://www.facebook.com/pages/National-Bureau-of-Economic-Research/115165771829285" aria-label="Like us on Facebook"><svg aria-hidden="true" height="24" viewBox="0 0 12 24" width="12" xlink="http://www.w3.org/1999/xlink" xmlns="http://www.w3.org/2000/svg"><g transform="translate(-817 -3503)"><path d="M820 3511h-3v4h3v12h5v-12h3.64l.36-4h-4v-1.67c0-.95.2-1.33 1.11-1.33H829v-5h-3.8c-3.6 0-5.2 1.58-5.2 4.62z"></path></g></svg></a></li> <li class="footer__follow-link"><a href="https://www.youtube.com/nbervideos" aria-label="Follow us on Youtube"><svg aria-hidden="true" height="24" space="preserve" viewBox="0 0 96.875 96.875" width="24" x="0px" xlink="http://www.w3.org/1999/xlink" xmlns="http://www.w3.org/2000/svg" y="0px"><g><path d="M95.201,25.538c-1.186-5.152-5.4-8.953-10.473-9.52c-12.013-1.341-24.172-1.348-36.275-1.341 c-12.105-0.007-24.266,0-36.279,1.341c-5.07,0.567-9.281,4.368-10.467,9.52C0.019,32.875,0,40.884,0,48.438 C0,55.992,0,64,1.688,71.336c1.184,5.151,5.396,8.952,10.469,9.52c12.012,1.342,24.172,1.349,36.277,1.342 c12.107,0.007,24.264,0,36.275-1.342c5.07-0.567,9.285-4.368,10.471-9.52c1.689-7.337,1.695-15.345,1.695-22.898 C96.875,40.884,96.889,32.875,95.201,25.538z M35.936,63.474c0-10.716,0-21.32,0-32.037c10.267,5.357,20.466,10.678,30.798,16.068 C56.434,52.847,46.23,58.136,35.936,63.474z"></path></g></svg></a> </li> </ul> </div> <div class="footer__front-page-disclaimer"> </div> <div class="footer__copyright"> <div class="footer__copyright-content">© 2024 National Bureau of Economic Research. All Rights Reserved.</div> </div> </footer> </div> <script type="application/json" data-drupal-selector="drupal-settings-json">{"path":{"baseUrl":"\/","pathPrefix":"","currentPath":"node\/11661","currentPathIsAdmin":false,"isFront":false,"currentLanguage":"en"},"pluralDelimiter":"\u0003","suppressDeprecationErrors":true,"lazy":{"lazysizes":{"lazyClass":"lazyload","loadedClass":"lazyloaded","loadingClass":"lazyloading","preloadClass":"lazypreload","errorClass":"lazyerror","autosizesClass":"lazyautosizes","srcAttr":"data-src","srcsetAttr":"data-srcset","sizesAttr":"data-sizes","minSize":40,"customMedia":[],"init":true,"expFactor":1.5,"hFac":0.8,"loadMode":2,"loadHidden":true,"ricTimeout":0,"throttleDelay":125,"plugins":[]},"placeholderSrc":"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==","preferNative":false,"minified":true,"libraryPath":"\/libraries\/lazysizes"},"sitewideAlert":{"refreshInterval":15000,"automaticRefresh":false},"user":{"uid":0,"permissionsHash":"26d1413fba1aa7f45d1477d0dbe61d283f2abf396e84b0bfb570d6a345c13f85"}}</script> <script src="/core/assets/vendor/once/once.min.js?v=1.0.1"></script> <script src="/core/misc/drupalSettingsLoader.js?v=10.2.10"></script> <script src="/core/misc/drupal.js?v=10.2.10"></script> <script src="/core/misc/drupal.init.js?v=10.2.10"></script> <script src="/modules/contrib/lazy/js/lazy.js?v=10.2.10"></script> <script src="/themes/custom/nber/assets/build/js/libraries-generated.js?sngn1u"></script> <script src="/themes/custom/nber/assets/build/js/index-generated.js?sngn1u"></script> <script src="/modules/contrib/sitewide_alert/js/init.js?v=10.2.10"></script> </body> </html>

CINXE.COM

Personnel Economics | NBER