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A central tenet in the now classic Wilson hypothesis surrounding racial earnings inequality emphasizes the elevated labor-market challenges for black workers of limited productive assets, yet the empirical evidence on this issue remains inconclusive. In this article, drawing on the Panel Study of Income Dynamics (PSID), I uncover three mechanisms that tend to underestimate the difficulty facing lower segments of the black labor force (1) the built-in bias of cross-sectional data that conflate career stages, (2) the cohort bias that conc
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