responsiveness of consumption to income changes which can be predicted from past information and income changes which cannot be … constructed to allow for measurement error in the income process. They also allow for more general income processes than have been …. Measurement error does have a strong influence on the relationship between consumption and income. When it is ignored our tests do …

(c) characterize which types of areas produce better outcomes. For children growing up in low-income families, each year … of childhood exposure to a one standard deviation (SD) better county increases income in adulthood by 0.5%. Hence …, growing up in a one SD better county from birth increases a child's income by approximately 10%. There is substantial local …

receipt and earnings beginning four years after entry. Estimated increases in income tax payments fully recoup government … suggests that increasing grant aid for low-income college students would enhance welfare in many U.S. settings …

. The pattern of results is consistent with positive income effects on births, but no associated increase in marriage. We …

This paper considers dynamic optimal income, education, and bequest taxes in a Barro-Becker dynastic setup. Parents can …. It is in general not optimal to make education expenses fully tax deductible and the optimal education subsidy, income …

observe household income and other demographics for each neighborhood. Five major findings are reported. First, the start of …. Third, local income is the only potential demand shifter found that also had an economically and statistically significant … change around the time that local housing booms began. Contemporaneous local income growth is large enough to account for …