Overview
Michael Keane is a labor and applied economist who has held positions at the University of Minnesota, New York University, and other institutions. He is known for structural dynamic modeling of labor supply, earnings dynamics, and human capital investment, as well as for developing computationally intensive Bayesian methods for panel data.
Key Contributions
- Geweke and Keane (2000): "An Empirical Analysis of Earnings Dynamics Among Men in the PSID: 1968–1989." Journal of Econometrics 96: 293–356. Non-Gaussian mixture-of-normals earnings dynamics model on PSID male household heads; resolves the earnings persistence puzzle; shows education premium is 39.5% vs. 31.6% of mean PV lifetime earnings (mixture vs. normal model), and racial earnings gap is 14.6% vs. 23.6%. See Earnings Dynamics.
- Broader research on structural dynamic models of female labor supply, human capital investment over the life cycle, and behavioral models of consumer decision-making.
Related
Sources