"Some economists argue that the neoclassical growth model cannot account for the macroeconomic effects of big fiscal shocks. This paper reassesses this view. We test the theory using data from World War II, which is by far the largest fiscal shock in the history of the United States. We take...

A comparison of measures of work time in the CPS-ASEC data file (based on recall) with contemporaneous measures reveals many logical inconsistencies and probable errors. About 8 percent of ASEC respondents report weeks worked last year that contradict their work histories in the Basic monthly...