The fully amortized mortgage loan contract is an important instance of financial innovation in the U.S. residential mortgage market. We examine the adoption of this contract from the 1880s to the 1930s by building and loan (B&L) associations, the nation's most important institutional home...

We analyze the impact of the original means-tested old-age assistance (OAA) programs on the health of the elderly prior to the first Social Security pension payments. Before 1935 a number of states had enacted their own OAA laws. After 1935 the federal government began offering matching grants...

We use 20th-century data to examine how community economic conditions at the time of birth influenced various measures of socioeconomic success as adults. Our analysis focuses on the worst downturn ever experienced in the United States: the Great Depression. We merge individual information...