In August 1996, Congress passed the Personal Responsibility Work Opportunities Reconciliation Act (PRWORA). This act eliminated Aid to Families with Dependent Children (AFDC), the largest source of cash assistance available to needy families, and replaced it with Temporary Assistance to Needy...

Distance to hospital may affect the utilization of primary preventative care if children rely on hospitals for such routine care. We explore this question using matched data from the National Longitudinal Survey of Youth's Child-Mother file and the American Hospital Association's 1990 Hospital...

This paper provides an analysis of the effect of relative price uncertainty and price level uncertainty on contracting costs. The paper shows that, as relative price uncertainty or price level uncertainty increase, contracts where performance is assured through the posting of a bond become more...

Using a new data set consisting of a matched sample of workers and firms, and including explicit measures of match quality, the authors estimate a structural model and find new evidence of a strong positive relation between wages and tenure. Inclusion of firm-fixed effects does not significantly...

We document that ownership by officers and directors of publicly-traded firms is on average higher today than earlier in the century. Managerial ownership rises from 13 percent for the universe of exchange-listed corporations in 1935, the earliest year for which such data exist, to 21 percent in...