Inter-vivos cash transfers and bequests between family members total hundreds of billions of dollars each year. They may equalize resources within a generation of a family as well as across family generations. Transfers delayed to the end of life may represent a significant motive for saving....

The authors use data from the earlier and later cohorts of the National Longitudinal Survey of Youth to estimate the effect of marriage and childbearing on wages. Their estimates imply that marriage lowers female wages by between two and four percent in the year of marriage. Marriage also lowers...

Year 2005 brought four severe hurricanes to the U.S. Gulf states, including Hurricane Katrina, an exceptional storm in terms of its magnitude of destruction. The authors examine the short- and long-term effects of Hurricane Katrina on the labor market outcomes of prime age individuals in the...

Structural models explaining retirement decisions of individuals or households in an inter-temporal setting are typically hard to estimate using data on actual retirement decisions, because choice sets are complicated and uncertain and for a large part unobserved by the researcher. This paper...

Using the Health and Retirement Study, this research investigates whether an adult child substitutes financial transfers to an elderly parent for time transfers as the cost of his or her time increases. The author develops and estimates a model of the effect of a child's wage rate on time and...

Inter-vivos cash transfers and bequests between family members total hundreds of billions of dollars each year. They may equalize resources within a generation of a family as well as across family generations. Transfers delayed to the end of life may represent a significant motive for saving....

Population aging is not a looming crisis of the futureÑit is already here. The ultimate impact of population aging on our standard of living in the future depends a great deal on how long people choose to work before they retire from the labor force. Here there is reason for optimism. In this...

Money parents give their adult children may be important for the financing of a child's education or a first home, relaxing binding credit constraints or responding to a transitory income shock. Financial transfers however, may extend economic disparities across generations if the wealthy...

Family composition has changed dramatically over the past 25 years. Divorce rates increased and remarriage rates declined. While considerable research established a link between marriage and earnings, far less is empirically understood about the effect of marriage on wealth although wealth is an...

Indian immigrants in the United States and other wealthy countries are successful in entrepreneurship. Using census data from the three largest developed countries in the world receiving Indian immigrants-the United States, United Kingdom and Canada-the authors examine the performance of Indian...