Standard estimates of the economic value of additional schooling, based on earnings differences associated with differences in the level of schooling attained, cover only a portion of the total effects of education that are valued by citizens. We first identify a catalog of nonmarketed effects,...

We estimate how cost sharing, the portion of the bill the patient pays, affects the demand for medical services. The data come from a randomized experiment. A catastrophic insurance plan reduces expenditures 31 percent relative to zero out-of-pocket ...

This paper focuses on the disabled working age population and tracks the changes in their labor market performance, their receipt of public income transfers, and their economic well-being over the 1962-1984 period. The changes over time in these indicators are compared with those of the...

Estimates of neighborhood effects on children's outcomes vary widely among the studies that seek to identify their existence and magnitude, reflecting substantial variation in data and model specification. Here, we review that literature, and ask if the disparity in estimates of neighborhood...

In this paper we argue that mandatory retirement is only one aspect of a much broader system that influences an individual's retirement decision. We look at responses over time to variations in mandatory retirement rules faced by a sample of private-sector workers aged 62-64 in 1973. This is...

Traditional empirical models of retirement which use a self-assessed health measure have often found that the wage rate has a surprisingly small effect on retirement. Using both a self-reported health measure and one not based on self-report (subsequent mortality experience) in a more general...

This study focuses on factors related to an older worker's decision to accept a pension and on how this influences subsequent market work. A life-cycle model is used which emphasizes the asset nature of the pension decision and in particular includes changes in potential earnings streams due to...

Using data from the 1978 Survey of Disability and Work and the 1992 Health and Retirement Study, we test the importance of accommodation and other policy variables on the timing of application for Social Security Disability Insurance benefits following the onset of a work-limiting condition. We...