During the COVID-19 pandemic, the federal government issued stimulus checks and expanded the child tax credit. These pandemic payments varied by marital status and the number of children in the household and were substantial with some families receiving several thousand dollars. We exploit this...

Declines in the welfare caseload in the late 1990s brought significant change to the lives of many low-educated, single mothers. Many single mothers left welfare and entered the labor market and others re-arranged their lives in order to avoid going on public assistance. These changes may have...

We study whether welfare reform adversely affected the health insurance coverage of low-educated single mothers and their children. Specifically, we investigate whether changes in the welfare caseload during the 1990s were associated with changes in Medicaid participation, private insurance...

Welfare reform has resulted in a dramatic decline in welfare caseloads and some have claimed that a significant number of low-income women may be without health insurance as a result. The loss of insurance may reduce low-income, pregnant women's health care utilization, and this may adversely...

The 1996 Personal Responsibility Work Opportunity Reconciliation Act dramatically altered the economic incentive to bear children out-of-wedlock for economically disadvantaged women or couples most likely to avail themselves of welfare programs. We use data from vital statistics and a...

In this paper, we investigate whether or not recent state and federal changes in welfare policy -- the imposition of time-limited benefits, the use of financial sanctions for non-compliance, and the setting of strict work eligibility rules -- affect the migration of low-educated unmarried women....

In this paper, we investigate the effect of federal welfare reform on the employment, hours of work and marriage rates of three groups of low-educated women: foreign-born citizens, foreign-born non-citizens and native-born citizens. Among non-citizens, we investigate whether the behavioral...

In this paper we first trace the changing nature of banking, currency and debt crises from the last century to the present. Each type of crisis has transmogrified in the presence of official intervention and the creation of a safety net. A similar pattern is observed for international rescue...

In the financial crisis and recession induced by the Covid-19 pandemic, many investment-grade firms became unable to borrow from securities markets. In response, the Fed not only reopened its commercial paper funding facility but also announced it would purchase newly issued and seasoned bonds...

We examine the effect of gaining prescription drug insurance as a result of Medicare Part D on use of prescription drugs, use of other medical services, and health for a nationally representative sample of Medicare beneficiaries. Given the heightened importance of prescription drugs for those...