1. Millennials' transition from School to Work (with Bowlus)

This is the first paper that studies Millennials' school-to-work transition based on flow-sampled data by race and gender. We construct a longitudinal sample of high school graduated youths' labor market history, apply the sample to the canonical Burdett and Mortensen (1998) equilibrium framework, and estimate the model by MLE. We find that racial differences in job search behavior and mean earnings are insignificant, and that males are less efficient than females both in entering and moving up the wage ladder, albeit the mean wage for males exceeds that for females. Further, we find the labor market deteriorated substantially for white male Millennials relative to those in Generation X. If white male Millennials faced search frictions as in Generation X, the mean job duration would be almost doubled while mean earnings would be almost 45 per cent higher. Further, we find that the employment of white males is most adversely affected by mandatory minimum wage increase, roughly in a scale of 1:1.

Refereed Publications

Intermediation in Markets for Goods and Markets for Assets (with Nosal and Wright) Journal of Economic Theory , 183 (2019): 876-906 

More on Middlemen: Equilibrium Entry and Efficiency in Markets with Intermediation (with Nosal and Wright) Journal of Money, Credit, and Banking (lead article), 47 (2015): 7-37

Buyers, Sellers, and Middlemen: Variation in Search Theoretic Themes (with Wright), International Economics Review, 55 (2014):375-397

Computers and Gender Wage Differences. Journal of Income Distribution, special issue edited by M. Sattinger, 17, n3 (2008): 93-114.

A Bivariate Interval Censorship Model for Partnership Formation, Journal of Multivariate Analysis, 98, n2 (2007): 370-383. [with Yu] 

 On Estimation of a Two-Sided Matching Model, in Contributions to Economic Analysis: Structural Models of Wage and Employment Dynamics, edited by Bunzel, H., B.J. Christensen, G. Neumann, and J-M Robin —North-Holland. 2006. 

Why Do Only 5.5% of Black Men Marry White Women? The Impact of the Mating Taboo, Courtship Opportunities, and Individual Endowments, International Economics Review (lead article) 44, n3 (2003): 803-826.

Structural Estimation of Marriage Models, Journal of Labor Economics, 21, n3 (2003): 699-728.

Can the Mortensen-Pissarides Model with Productivity Changes Explain U.S. Wage Inequality? Journal of Labor Economics, 21, n1 (2003): 70-105

Specific-Capital in an Equilibrium Search Model, Economic Letters, 74 (2002): 203-209

Wage Differences and the Mating Taboo, 1970-1980, Journal of Economics, 28 (2001): 21-40.