Data from the Bureau of the Census, the Health Care Financing Administration, the NBER Tax File and the Current Population Survey are used to estimate for the elderly (ages 65 and above) consumption of health care and income available for other goods and services in 1975, 1985, and 1995....

We study the effect of incorporating heterogeneity into default rules by examining the choice between retirement plans at a firm which transitioned from a defined benefit (DB) to a defined contribution (DC) plan. The default plan for existing employees varied discontinuously depending on their...

It is widely documented that U.S. students score below their OECD counterparts on international achievement tests, but it is less commonly known that ultimately, U.S. native adults catch up. In this paper, we explore institutional explanations for differences in the evolution of literacy over...

Does it matter when a child starts school? While the popular press seems to suggest it does, there is limited evidence of a long-run effect of school starting age on student outcomes. This paper uses data on the population of Norway to examine the role of school starting age on longer-run...

The current practice of measuring age as years-since-birth, both in common practice and in the law, rather than alternative measures reflecting a person's stage in the lifecycle distorts important behavior such as retirement, saving, and the discussion of dependency ratios. Two alternative...

During 2006, the Gallup Organization conducted a World Poll that used an identical questionnaire for national samples of adults from 132 countries. I analyze the data on life satisfaction (happiness) and on health satisfaction and look at their relationships with national income, age, and...

This paper examines retirement and related behavioral responses to policies that on average are actuarially neutral. Many conventional models predict that actuarially neutral policies will not affect retirement behavior. In contrast, our model allows those with high time preference rates to find...

Population aging is primarily the result of past declines in fertility, which produced a decades long period in which the ratio of dependents to working age adults was reduced. Rising old-age dependency in many countries represents the inevitable passing of this "demographic dividend." Societies...

We investigate short and long-term effects of early childhood education using variation created by a unique policy experiment in British Columbia, Canada. Our findings imply starting Kindergarten one year late substantially reduces the probability of repeating the third grade, and meaningfully...

We examine the connection between taxes paid and benefits accrued under the Social Security Disability Insurance (SSDI) program on both the intensive and extensive margins. We perform these calculations for stylized workers given the existing benefit structure and disability hazard rates. On the...