Abstract The border between Georgia and South Carolina has a moderate amount of seismicity typical of the Piedmont Province of the eastern United States and greater than most other intraplate regions. Historical records suggest on average a Mw 4.5 earthquake every 50 yr in the region of the J. Strom Thurmond Reservoir, which is located on the border between Georgia and South Carolina. The Mw 4.1 earthquake on 15 February 2014 near Edgefield, South Carolina, was one of the largest events in this region recorded by nearby modern seismometers, providing an opportunity to study its source properties and aftershock productivity. Using the waveforms of the Mw 4.1 mainshock and the only cataloged Mw 3.0 aftershock as templates, we apply a matched‐filter technique to search for additional events between 8 and 22 February 2014. The resulting six new detections are further employed as new templates to scan for more events. Repeating the waveform‐matching method with new templates yields 13 additional events, for a total of 19 previously unidentified events with magnitude 0.06 and larger. The low number of events suggests that this sequence is deficient in aftershock production, as compared with expected aftershock productivities for other mainshocks of similar magnitudes. Hypocentral depths of the Mw 4.1 mainshockmore »
The $15 Wage Movement Moves South: Politics of Region in Labor Union Campaigns: The $15 Wage Movement Moves South
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Consumption Insurance against Wage Risk: Family Labor Supply and Optimal Progressive Income TaxationWe show that a calibrated life cycle two-earner household model with endogenous labor supply can rationalize the extent of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri, and Saporta-Eksten (2016) in US data. In the model, 35 percent of male and 18 percent of female permanent wage shocks pass through to consumption, compared to the empirical estimates of 32 percent and 19 percent. Most of the consumption insurance against permanent male wage shocks is provided through the presence and labor supply response of the female earner. Abstracting from this private intrahousehold income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired extent of public insurance through progressive income taxation. Relative to the standard one-earner life cycle model, the optimal degree of tax progressivity is significantly lower and the welfare gains from implementing the optimal system are cut roughly in half. (JEL D15, H21, H24, J16, J22, J31)
