of interest, so it would otherwise finance increased current consumption by borrowing against future wages. Collateral …

"Solon's (1992) landmark study estimated the intergenerational elasticity (IGE) in income between fathers and sons to …

1984, 1990 and 1996 Surveys of Income and Program Participation (SIPP) to the Social Security Administration's Summary …

these constrain a household's debt, a persistent wage increase generates a liquidity shortage. This limits the income effect …

Panel Study of Income Dynamics Validation Study. I then use this information about measurement error to purge measurement … error from the Panel Study of Income Dynamics. I show there exists a large transitory wage changes predictably disappear … error and for measurement error that is correlated with true hours and wages. I find almost no correlation between hours …

determination of hourly wages and hours worked. We show, qualitatively and quantitatively, that these two factors have important …

, we show that both work hours and wages drop sharply at ages 62 and 65. The Social Security rules produce strong … incentives to reduce work hours at these ages. We present evidence that these sharp drops in work hours cause a drop in wages for …