The American Economic Review: Male-Female Pay Differentials in Professional Employment.
MALKIEL, Burton G.; Judith A. Malkiel.
The American Economic Review: Male-Female Pay Differentials in Professional Employment.
An Offprint of the September 1973 Issue of The American Economic Review, Containing Burton Malkiel and Judith A. Malkiel's "Male-Female Pay Differentials in Professional Employment"; Signed by Burton Malkiel and From His Own Personal Collection
Pittsburgh: The American Economic Association, 1973.
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Item Number: 152012
Rare offprint of the September 1973 issue of The American Economic Review, containing Burton Malkiel and Judith A. Malkiel’s article “Male-Female Pay Differentials in Professional Employment.” Octavo, original wrappers, volume 63 number 4. Boldly signed by Burton Malkiel on the front wrapper. Burton Gordon Malkiel (born 1932) is one of the most consequential financial economists of the postwar American academy, whose career as scholar, institutional leader, and public intellectual has made him a central figure at the intersection of investment theory, market efficiency, and public policy. Educated at Harvard and Princeton, where he spent the most productive decades of his career as Chemical Bank Chairman’s Professor of Economics, Malkiel also served as Dean of the Yale School of Management from 1981 to 1988 and as a member of the President’s Council of Economic Advisers under Gerald Ford from 1975 to 1977. His scholarly output encompasses foundational contributions across the term structure of interest rates, convertible security valuation, corporate capital structure, closed-end fund discounts, mutual fund performance, and gender pay differentials in professional employment, producing a body of work whose empirical breadth places him among the most versatile financial economists of his generation. His long service on the board of directors of The Vanguard Group connects his academic advocacy for passive investing to the institutional infrastructure that has most fully realized it in practice. It is nevertheless A Random Walk Down Wall Street, first published in 1973 and now in its thirteenth edition, that secured his place in the broader culture: a work of lucid, empirically grounded argument for market efficiency and index fund investing that has sold over 1.5 million copies and permanently altered the investment behavior of millions of individual investors worldwide. From the personal collection of Burton Malkiel. In fine condition.
"Male-Female Pay Differentials in Professional Employment," co-authored with Judith A. Malkiel and published in the American Economic Review, Volume 63, Number 4, September 1973, represents a notable departure from the fixed income and capital markets research that constituted the primary focus of Burton Malkiel's scholarly career, demonstrating a breadth of analytical engagement that extended into the then-emerging field of labor economics and gender discrimination. Working within the human capital framework developed by Gary Becker and Jacob Mincer, the paper examines the determinants of salary differentials between male and female professional employees, drawing on personnel data from a single large corporation to decompose observed pay gaps into components attributable to differences in measurable productivity characteristics and components attributable to discrimination properly defined. The research was undertaken at Princeton University and belongs to the same intellectual moment that produced the landmark contemporaneous work of Ronald Oaxaca on male-female wage differentials in urban labor markets, contributing to what was in 1973 a rapidly expanding empirical literature on gender pay inequity prompted by the passage of the Equal Pay Act of 1963 and Title VII of the Civil Rights Act.
