A couple of links worth sharing

The economics of Downton Abbey. After reading this post, I think I’ll start watching it on Netflix.

It’s going to take how long to file those health insurance applications in Massachusetts? 50,000 filings for health coverage in limbo.

2 Hours for one person to enter manually each of the 50,000 paper applications, which is equal to…100,000 hours of work or…4,166 days or…11.4 years.

This doesn’t even take into account the time it took for those applicants to do the application, cost to mail them, cost to store, move, and transport the applications, and the employment costs to process the applications.

The CBO’s report on the effects of a minimum-wage increase on employment and family income.

Effects of the $10.10 Option on Employment and Income

Once fully implemented in the second half of 2016, the $10.10 option would reduce total employment by about 500,000 workers, or 0.3 percent, CBO projects (see the table below). As with any such estimates, however, the actual losses could be smaller or larger; in CBO’s assessment, there is about a two-thirds chance that the effect would be in the range between a very slight reduction in employment and a reduction in employment of 1.0 million workers…The increased earnings for low-wage workers resulting from the higher minimum wage would total $31 billion, by CBO’s estimate. However, those earnings would not go only to low-income families, because many low-wage workers are not members of low-income families. Just 19 percent of the $31 billion would accrue to families with earnings below the poverty threshold, whereas 29 percent would accrue to families earning more than three times the poverty threshold, CBO estimates.

Is the United States still a land of opportunity? Recent trends in intergenerational mobility.

There is a growing public perception that intergenerational income mobility – a child’s chance of moving up in the income distribution relative to her parents – is declining in the United States. We present new evidence on trends in intergenerational mobility in the U.S. using de-identified administrative earnings records. These data have less measurement error and much larger sample sizes than previous survey-based studies and thus yield more precise estimates of intergenerational mobility over time.

Contrary to the popular perception, we find that percentile rank-based measures of intergenerational mobility have remained extremely stable for the 1971-1993 birth cohorts.

Teen Employment and the Minimum Wage, 60 years of experience

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