This paper studies the determinants of college major choice using a unique “information” experiment embedded in a survey. We first ask respondents their self-beliefs—beliefs about their own expected earnings and other major-specific outcomes conditional on various majors, their population...

We investigate how college students form and update their beliefs about future earnings using a unique “information” experiment. We provide college students true information about the population distribution of earnings and observe how this information causes respondents to update their...

This paper presents four policy options to make Social Security sustainable under the coming demographic shift: 1) increase payroll taxes by 6 percentage points, 2) reduce the replacement rates of the benefit formula by one-third, 3) raise the normal retirement age from sixty-six to...

This paper develops a simple dynamic model to examine the breakout from a Malthusian economy to a modern growth regime. It identifies several factors that determine the fastest rate at which the population can grow without engendering declining living standards; this is termed maximum...

Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.

Remarks at the University at Albany, Albany, New York.

Remarks before the Bronx Chamber of Commerce at the New York Botanical Garden, Bronx, New York.

Remarks at the National Association for Business Economics Annual Meeting, New York City.

Remarks at Fordham University's Gabelli School of Business, Bronx, New York.

Remarks before the Puerto Rico Chamber of Commerce Annual Convention, Fajardo, Puerto Rico.