Has the rise in earnings inequality in the United States over the past two decades resulted in greater economic stratification? This seminar will explore the connections among increased earnings inequality, year-to-year changes in earnings, and changes in economic status from one generation to the next. Professor Solon will review recent studies that have used longitudinal data to distinguish between long-term and short-term variation in earnings, and he will discuss the implications for interpreting the rise in earnings inequality and for measuring intergenerational mobility.