Erik Hurst
Dados Biográficos
| ID | 314111 |
|---|---|
| NOME | Erik Hurst |
| PRENOMES | Erik |
| SOBRENOME | Hurst |
| ASSINATURA | HURST E |
| AFILIAÇÕES | University of Chicago |
| ORCID | 0000-0003-3760-3051 |
| VERIFICADO | Sim |
| TOTAL DE OBRAS | 22 |
| TOTAL DE CITAÇÕES | 409 |
| TOTAL COMO AUTOR | 22 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 2002 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2025 |
| ÍNDICE H | 8 |
Lively water infrastructure
Water infrastructures are often living infrastructures, whose operation relies on processes involving other-than-human living beings. This article considers the materiality of waterscapes by attending to this liveliness. We argue that critical water research can benefit from situating social relations and water transformations within more-than-human worlds. Our conceptual framework brings hydrosocial scholarship into conversation with more-than-h…
Overview
College Majors, Occupations, and the Gender Wage Gap
The paper assesses gender differences in pre-labor market specialization among the college-educated and highlights how those differences have evolved over time. Women choose majors with lower potential earnings (based on male wages associated with those majors) and subsequently sort into occupations with lower potential earnings given their major choice. These differences have narrowed over time, but recent cohorts of women still choose majors an…
Leisure Luxuries and the Labor Supply of Young Men
We propose a methodology exploiting time diary data and “leisure Engel curves” to infer quality changes across leisure activities and measure the effects on the marginal return to leisure. We study leisure returns for men aged 21–30, who have shifted leisure toward video gaming and recreational computing and have had larger market work hour declines than older men or women since 2004. We show that recreational computing is distinctly a leisure lu…
The Allocation of Talent and U.S. Economic Growth
In 1960, 94 percent of doctors and lawyers were white men. By 2010, the fraction was just 62 percent. Similar changes in other highly‐skilled occupations have occurred throughout the U.S. economy during the last 50 years. Given that the innate talent for these professions is unlikely to have changed differently across groups, the change in the occupational distribution since 1960 suggests that a substantial pool of innately talented women and bla…
Housing Booms, Manufacturing Decline and Labour Market Outcomes
We study how manufacturing decline and local housing booms contributed to changes in labour market outcomes during the 2000s, focusing on the distributional consequences across geographical areas and demographic groups. Using a local labour markets design, we estimate that manufacturing decline significantly reduced employment between 2000 and 2006, while local housing booms increased employment. These results suggest that housing booms ‘masked’ …
The Masking of the Decline in Manufacturing Employment by the Housing Bubble
The employment-to-population ratio among prime-aged adults aged 25-54 has fallen substantially since 2000. The explanations proposed for the decline in the employment-to-population ratio have been of two broad types. One set of explanations emphasizes cyclical factors associated with the recession; the second set of explanations focuses on the role of longer-run structural factors. In this paper, we argue that while the decline in manufacturing a…
Are Household Surveys Like Tax Forms? Evidence from Income Underreporting of the Self-Employed
A large literature shows that the self-employed underreport their income to tax authorities. In this paper, we quantify the extent to which the self-employed also systematically underreport their income in U.S. household surveys. We use the Engel curve describing the relationship between income and expenditures of wage and salary workers to infer the actual income, and thus the reporting gap, of the self-employed based on their reported expenditu…
Endogenous gentrification and housing price dynamics
Time Use During the Great Recession
Using data from the American Time Use Survey between 2003 and 2010, we document that home production absorbs roughly 30 percent of foregone market work hours at business cycle frequencies. Leisure absorbs roughly 50 percent of foregone market work hours, with sleeping and television watching accounting for most of this increase. We document significant increases in time spent on shopping, child care, education, and health. Job search absorbs betw…
Marital Sorting and Parental Wealth
The extent of marital sorting by socioeconomic background has implications for the intergenerational transmission of inequality, the role of marriage as a mechanism for social mobility, and the extent of cross-group interactions within a society. However, studies of assortative mating have disproportionately focused on spouses’ education, rather than their social origins. Using data from the Panel Study of Income Dynamics (PSID), and exploiting t…
Deconstructing Life Cycle Expenditure
In this paper we revisit two well-known facts regarding lifecycle expenditures. The first is the familiar "hump" shaped lifecycle profile of nondurable expenditures. We document that the behavior of total nondurables masks surprising heterogeneity in the lifecycle profile of individual sub-components. We find, for example, that while food expenditures decline after middle age, expenditures on entertainment continue to increase throughout the life…
The Importance of Business Owners in Assessing the Size of Precautionary Savings
Not properly accounting for differences between business owners and nonbusiness owners in studies of household wealth can lead to erroneous conclusions about the significance of different saving motives. Using data from the Panel Study of Income Dynamics from the 1980s and 1990s, we show that within samples of both business owners and non–business owners, the amount of precautionary savings with respect to labor income risk is modest and accounts…
Conspicuous Consumption and Race
Using nationally representative data on consumption, we show that Blacks and Hispanics devote larger shares of their expenditure bundles to visible goods (clothing, jewelry, and cars) than do comparable Whites. These differences exist among virtually all subpopulations, are relatively constant over time, and are economically large. Although racial differences in utility preference parameters might account for a portion of these consumption differ…
A Summary of Trends in American Time Allocation
Parental Education and Parental Time with Children
This paper examines parental time allocated to the care of one's children. Using data from the recent American Time Use Surveys, we highlight some interesting cross-sectional patterns in time spent by American parents as they care for their children: we find that higher-educated parents spend more time with their children; for example, mothers with a college education or greater spend roughly 4.5 hours more per week in child care than mothers wit…
Measuring Trends in Leisure
In this paper, we use five decades of time-use surveys to document trends in the allocation of time within the United States. We find that a dramatic increase in leisure time lies behind the relatively stable number of market hours worked between 1965 and 2003. Specifically, using a variety of definitions for leisure, we show that leisure for men increased by roughly six to nine hours per week (driven by a decline in market work hours) and for wo…
Life-Cycle Prices and Production
We use scanner data and time diaries to document how households substitute time for money through shopping and home production. We document substantial heterogeneity in prices paid for identical goods for the same area and time, with older households shopping the most and paying the lowest prices. Doubling shopping frequency lowers a good's price by 7 to 10 percent. We estimate the shopper's price of time and use this series to estimate an elasti…
Consumption versus Expenditure
Previous authors have documented a dramatic decline in food expenditures at the time of retirement. We show that this is matched by an equally dramatic rise in time spent shopping for and preparing meals. Using a novel data set that collects detailed food diaries for a large cross section of U.S. households, we show that neither the quality nor the quantity of food intake deteriorates with retirement status. We also show that unemployed household…
Liquidity Constraints, Household Wealth, and Entrepreneurship
The propensity to become a business owner is a nonlinear function of wealth. The relationship between wealth and entry into entrepreneurship is essentially flat over the majority of the wealth distribution. It is only at the top of the wealth distributionafter the ninety-fifth percentilethat a positive relationship can be found. Segmenting businesses into industries with high and lowstarting capital requirements, we find no evidence that wealth m…
The Correlation of Wealth across Generations
In this paper, we find that the age-adjusted elasticity of child wealth with respect to parental wealth is 0.37 before the transfer of bequests. Lifetime income and asset ownership jointly explain nearly two-thirds of the wealth elasticity. Education, past parental transfers, and expected future bequests account for little of the remaining elasticity. Survey measures of risk correlate strongly between parents and children. However, they explain l…
The Transition to Home Ownership and the Black-White Wealth Gap
This paper analyzes differences in the likelihood that black and white families become homeowners. By following a sample of black and white renters over time, we are able to separately study racial differences in the likelihood of applying for a mortgage and in the likelihood that a mortgage application is accepted. Although its effect on the race gap in housing transitions is small, we find strong evidence that black applicants are almost twice …
Parental Education and Parental Time with Children
This paper examines parental time allocated to the care of one's children. Using data from the recent American Time Use Surveys, we highlight some interesting cross-sectional patterns in time spent by American parents as they care for their children: we find that higher-educated parents spend more time with their children; for example, mothers with a college education or greater spend roughly 4.5 hours more per week in child care than mothers wit…
Liquidity Constraints, Household Wealth, and Entrepreneurship
The propensity to become a business owner is a nonlinear function of wealth. The relationship between wealth and entry into entrepreneurship is essentially flat over the majority of the wealth distribution. It is only at the top of the wealth distributionafter the ninety-fifth percentilethat a positive relationship can be found. Segmenting businesses into industries with high and lowstarting capital requirements, we find no evidence that wealth m…
The Correlation of Wealth across Generations
In this paper, we find that the age-adjusted elasticity of child wealth with respect to parental wealth is 0.37 before the transfer of bequests. Lifetime income and asset ownership jointly explain nearly two-thirds of the wealth elasticity. Education, past parental transfers, and expected future bequests account for little of the remaining elasticity. Survey measures of risk correlate strongly between parents and children. However, they explain l…
Consumption versus Expenditure
Previous authors have documented a dramatic decline in food expenditures at the time of retirement. We show that this is matched by an equally dramatic rise in time spent shopping for and preparing meals. Using a novel data set that collects detailed food diaries for a large cross section of U.S. households, we show that neither the quality nor the quantity of food intake deteriorates with retirement status. We also show that unemployed household…
Marital Sorting and Parental Wealth
The extent of marital sorting by socioeconomic background has implications for the intergenerational transmission of inequality, the role of marriage as a mechanism for social mobility, and the extent of cross-group interactions within a society. However, studies of assortative mating have disproportionately focused on spouses’ education, rather than their social origins. Using data from the Panel Study of Income Dynamics (PSID), and exploiting t…
A Summary of Trends in American Time Allocation
Housing Booms, Manufacturing Decline and Labour Market Outcomes
We study how manufacturing decline and local housing booms contributed to changes in labour market outcomes during the 2000s, focusing on the distributional consequences across geographical areas and demographic groups. Using a local labour markets design, we estimate that manufacturing decline significantly reduced employment between 2000 and 2006, while local housing booms increased employment. These results suggest that housing booms ‘masked’ …
Deconstructing Life Cycle Expenditure
In this paper we revisit two well-known facts regarding lifecycle expenditures. The first is the familiar "hump" shaped lifecycle profile of nondurable expenditures. We document that the behavior of total nondurables masks surprising heterogeneity in the lifecycle profile of individual sub-components. We find, for example, that while food expenditures decline after middle age, expenditures on entertainment continue to increase throughout the life…
Lively water infrastructure
Water infrastructures are often living infrastructures, whose operation relies on processes involving other-than-human living beings. This article considers the materiality of waterscapes by attending to this liveliness. We argue that critical water research can benefit from situating social relations and water transformations within more-than-human worlds. Our conceptual framework brings hydrosocial scholarship into conversation with more-than-h…
Leisure Luxuries and the Labor Supply of Young Men
We propose a methodology exploiting time diary data and “leisure Engel curves” to infer quality changes across leisure activities and measure the effects on the marginal return to leisure. We study leisure returns for men aged 21–30, who have shifted leisure toward video gaming and recreational computing and have had larger market work hour declines than older men or women since 2004. We show that recreational computing is distinctly a leisure lu…
The Masking of the Decline in Manufacturing Employment by the Housing Bubble
The employment-to-population ratio among prime-aged adults aged 25-54 has fallen substantially since 2000. The explanations proposed for the decline in the employment-to-population ratio have been of two broad types. One set of explanations emphasizes cyclical factors associated with the recession; the second set of explanations focuses on the role of longer-run structural factors. In this paper, we argue that while the decline in manufacturing a…
College Majors, Occupations, and the Gender Wage Gap
The paper assesses gender differences in pre-labor market specialization among the college-educated and highlights how those differences have evolved over time. Women choose majors with lower potential earnings (based on male wages associated with those majors) and subsequently sort into occupations with lower potential earnings given their major choice. These differences have narrowed over time, but recent cohorts of women still choose majors an…
The Transition to Home Ownership and the Black-White Wealth Gap
This paper analyzes differences in the likelihood that black and white families become homeowners. By following a sample of black and white renters over time, we are able to separately study racial differences in the likelihood of applying for a mortgage and in the likelihood that a mortgage application is accepted. Although its effect on the race gap in housing transitions is small, we find strong evidence that black applicants are almost twice …
The Correlation of Wealth across Generations
In this paper, we find that the age-adjusted elasticity of child wealth with respect to parental wealth is 0.37 before the transfer of bequests. Lifetime income and asset ownership jointly explain nearly two-thirds of the wealth elasticity. Education, past parental transfers, and expected future bequests account for little of the remaining elasticity. Survey measures of risk correlate strongly between parents and children. However, they explain l…
Liquidity Constraints, Household Wealth, and Entrepreneurship
The propensity to become a business owner is a nonlinear function of wealth. The relationship between wealth and entry into entrepreneurship is essentially flat over the majority of the wealth distribution. It is only at the top of the wealth distributionafter the ninety-fifth percentilethat a positive relationship can be found. Segmenting businesses into industries with high and lowstarting capital requirements, we find no evidence that wealth m…
Consumption versus Expenditure
Previous authors have documented a dramatic decline in food expenditures at the time of retirement. We show that this is matched by an equally dramatic rise in time spent shopping for and preparing meals. Using a novel data set that collects detailed food diaries for a large cross section of U.S. households, we show that neither the quality nor the quantity of food intake deteriorates with retirement status. We also show that unemployed household…
Measuring Trends in Leisure
In this paper, we use five decades of time-use surveys to document trends in the allocation of time within the United States. We find that a dramatic increase in leisure time lies behind the relatively stable number of market hours worked between 1965 and 2003. Specifically, using a variety of definitions for leisure, we show that leisure for men increased by roughly six to nine hours per week (driven by a decline in market work hours) and for wo…
Life-Cycle Prices and Production
We use scanner data and time diaries to document how households substitute time for money through shopping and home production. We document substantial heterogeneity in prices paid for identical goods for the same area and time, with older households shopping the most and paying the lowest prices. Doubling shopping frequency lowers a good's price by 7 to 10 percent. We estimate the shopper's price of time and use this series to estimate an elasti…
Parental Education and Parental Time with Children
This paper examines parental time allocated to the care of one's children. Using data from the recent American Time Use Surveys, we highlight some interesting cross-sectional patterns in time spent by American parents as they care for their children: we find that higher-educated parents spend more time with their children; for example, mothers with a college education or greater spend roughly 4.5 hours more per week in child care than mothers wit…
Conspicuous Consumption and Race
Using nationally representative data on consumption, we show that Blacks and Hispanics devote larger shares of their expenditure bundles to visible goods (clothing, jewelry, and cars) than do comparable Whites. These differences exist among virtually all subpopulations, are relatively constant over time, and are economically large. Although racial differences in utility preference parameters might account for a portion of these consumption differ…
A Summary of Trends in American Time Allocation
The Importance of Business Owners in Assessing the Size of Precautionary Savings
Not properly accounting for differences between business owners and nonbusiness owners in studies of household wealth can lead to erroneous conclusions about the significance of different saving motives. Using data from the Panel Study of Income Dynamics from the 1980s and 1990s, we show that within samples of both business owners and non–business owners, the amount of precautionary savings with respect to labor income risk is modest and accounts…
Endogenous gentrification and housing price dynamics
Time Use During the Great Recession
Using data from the American Time Use Survey between 2003 and 2010, we document that home production absorbs roughly 30 percent of foregone market work hours at business cycle frequencies. Leisure absorbs roughly 50 percent of foregone market work hours, with sleeping and television watching accounting for most of this increase. We document significant increases in time spent on shopping, child care, education, and health. Job search absorbs betw…
Marital Sorting and Parental Wealth
The extent of marital sorting by socioeconomic background has implications for the intergenerational transmission of inequality, the role of marriage as a mechanism for social mobility, and the extent of cross-group interactions within a society. However, studies of assortative mating have disproportionately focused on spouses’ education, rather than their social origins. Using data from the Panel Study of Income Dynamics (PSID), and exploiting t…
Deconstructing Life Cycle Expenditure
In this paper we revisit two well-known facts regarding lifecycle expenditures. The first is the familiar "hump" shaped lifecycle profile of nondurable expenditures. We document that the behavior of total nondurables masks surprising heterogeneity in the lifecycle profile of individual sub-components. We find, for example, that while food expenditures decline after middle age, expenditures on entertainment continue to increase throughout the life…
Are Household Surveys Like Tax Forms? Evidence from Income Underreporting of the Self-Employed
A large literature shows that the self-employed underreport their income to tax authorities. In this paper, we quantify the extent to which the self-employed also systematically underreport their income in U.S. household surveys. We use the Engel curve describing the relationship between income and expenditures of wage and salary workers to infer the actual income, and thus the reporting gap, of the self-employed based on their reported expenditu…
The Masking of the Decline in Manufacturing Employment by the Housing Bubble
The employment-to-population ratio among prime-aged adults aged 25-54 has fallen substantially since 2000. The explanations proposed for the decline in the employment-to-population ratio have been of two broad types. One set of explanations emphasizes cyclical factors associated with the recession; the second set of explanations focuses on the role of longer-run structural factors. In this paper, we argue that while the decline in manufacturing a…
The Allocation of Talent and U.S. Economic Growth
In 1960, 94 percent of doctors and lawyers were white men. By 2010, the fraction was just 62 percent. Similar changes in other highly‐skilled occupations have occurred throughout the U.S. economy during the last 50 years. Given that the innate talent for these professions is unlikely to have changed differently across groups, the change in the occupational distribution since 1960 suggests that a substantial pool of innately talented women and bla…
Housing Booms, Manufacturing Decline and Labour Market Outcomes
We study how manufacturing decline and local housing booms contributed to changes in labour market outcomes during the 2000s, focusing on the distributional consequences across geographical areas and demographic groups. Using a local labour markets design, we estimate that manufacturing decline significantly reduced employment between 2000 and 2006, while local housing booms increased employment. These results suggest that housing booms ‘masked’ …
Leisure Luxuries and the Labor Supply of Young Men
We propose a methodology exploiting time diary data and “leisure Engel curves” to infer quality changes across leisure activities and measure the effects on the marginal return to leisure. We study leisure returns for men aged 21–30, who have shifted leisure toward video gaming and recreational computing and have had larger market work hour declines than older men or women since 2004. We show that recreational computing is distinctly a leisure lu…
College Majors, Occupations, and the Gender Wage Gap
The paper assesses gender differences in pre-labor market specialization among the college-educated and highlights how those differences have evolved over time. Women choose majors with lower potential earnings (based on male wages associated with those majors) and subsequently sort into occupations with lower potential earnings given their major choice. These differences have narrowed over time, but recent cohorts of women still choose majors an…
Overview
Lively water infrastructure
Water infrastructures are often living infrastructures, whose operation relies on processes involving other-than-human living beings. This article considers the materiality of waterscapes by attending to this liveliness. We argue that critical water research can benefit from situating social relations and water transformations within more-than-human worlds. Our conceptual framework brings hydrosocial scholarship into conversation with more-than-h…
Economics (20 obras) · Demographic economics (15 obras) · Labour economics (14 obras) · Gender, Labor, and Family Dynamics (10 obras) · Financial Literacy, Pension, Retirement Analysis (9 obras) · Econometrics (6 obras) · Housing Market and Economics (6 obras) · Finance (5 obras) · Fiscal Policy and Economic Growth (5 obras) · Macroeconomics (5 obras)