Background
Parsons, Donald Oscar was born on October 22, 1944 in Pittsburgh. Son of Leonard J. and Marion (Williams) Parsons.
Parsons, Donald Oscar was born on October 22, 1944 in Pittsburgh. Son of Leonard J. and Marion (Williams) Parsons.
Bachelor of Arts Duke University, Durham, North Carolina, 1966. Doctor of Philosophy University Chicago, 1970.
Assistant professor economics Ohio State University, Columbus, 1970-1973, associate professor, 1973-1977, professor, 1977-1995, professor emeritus, since 1995. Professor George Washington University, since 1998, director program labor studies, since 1998, chairman department, since 2003. Fulbright distinguished professor economics, Siena, Italy, 1991.
Visiting professor Copenhagen Business School, 1997.
My first contributions involved the theoretical and empirical analysis of the employment relationship. I developed a theoretical model of firm-specific training, compensation, and job turnover and estimated a job turnover model which indicates that firms and workers share in such investments. An analysis of job search and quit rates revealed that the labour market was responsive to real factors but not to unexpected inflation.
More recently I estimated a model of labour transfer between industries which suggests that the transfer rate is largely independent of aggregate effects or industry congestion effects.
I have undertaken several studies of schooling investments. Foregone earnings are shown to be an inappropriate measure of schooling cost in a capitalconstrained environment. I estimate that the variance of human capital is not higher for those with more schooling, which explains the lack of demand for income-contingent loans.
I have estimated family background effects on schooling attainment, and attempted to unravel the effects of differential productivity, capital costs, and direct consumption value on schooling choice.
In the related area of family economics, I have stressed the interplay of altruism and self-interest in moulding intra-family relationships. I have developed a model of marriage that determines explicit exchange prices for male and female attributes as well as the matching of these attributes. I have also modelled and estimated (with Claudia Goldin) the interplay of parental aspirations for their children’s future well-being through schooling and their desire for current child labour income.
I have undertaken several policy analyses, including one of the 1920 United States Steel antitrust decision (with Edward
Ray).
I have estimated the anti-poverty effects of the minimum wage and found negligible income redistribution effects for low-skilled adult females. Most recently, I have modelled and estimated large labour supply disincentive effects of the social security disability insurance programme.
Member American Economic Association, Society Labor Economists, Southern Economic Association.
Married A. Cristina Cunha. Children: Donald Williams, Christopher Milne, Madalena Cunha.