This paper studies wage determination using the first longitudinal data set containing job-level task information for individual workers. Novel quantitative task measures detail the amount of time spent performing people, information, and objects tasks at different skill levels. These measures suggest natural proxies for on-the-job human capital accumulation and provide new insights about wage determination. Current job tasks are quantitatively important, with high-skilled tasks being paid substantially more than low-skilled tasks. There is no evidence of learning by doing for low-skilled tasks but strong evidence for high-skilled tasks. Current and past high-skilled information tasks are particularly valuable.

This paper studies the impact of the mortgage interest tax deduction on equilibrium house prices, rents, homeownership, and welfare. We build a dynamic model of the housing market that features a realistic progressive tax system in which owner-occupied housing services are tax-exempt and mortgage interest payments are tax-deductible. We simulate the effect of tax reform on the housing market. Eliminating the mortgage interest deduction causes house prices to decline, increases homeownership, decreases mortgage debt, and improves welfare. Our findings challenge the widely held view that repealing the preferential tax treatment of mortgages would depress homeownership. (JEL H24, H31, R21, R31)

Using novel data from the Berea Panel Study, we show that the beauty wage premium for college graduates exists only in jobs where attractiveness is plausibly a productive characteristic. A large premium exists in jobs with substantial amounts of interpersonal interaction but not in jobs that require working with information. This finding is inconsistent with employer taste-based discrimination, which would favor attractive workers in all jobs. Unique task data address concerns that measurement error in the importance of interpersonal tasks may bias empirical work toward finding employer discrimination. Our conclusions are in stark contrast to the findings of existing research.