Inferences about earnings volatility across groups and time depend on the underlying models of earnings dynamics, data sources, earnings concepts, and sampling strategies. In this paper we evaluate a model of earnings dynamics in which the permanence of shocks varies by age and education. This...

In the absence of significant changes in policy, rising costs for health care will cause federal spending to grow much faster than revenues, putting the federal budget on an unsustainable path. Budgetary projections prepared by the Congressional Budget Office indicate that if current laws and...