This paper examines the effects of recent welfare reforms in the US and UK on thewell-being of children in low-income families, looking specifically at the effects onpoverty, family expenditures, and child health and development. The paper finds somecommonalities but also some notable...

Using data collected in 2000 on a racially and ethnically diverse sample of high school seniors (typically 17-18 years old), this study analyzes teenagers’ expectations and desires about marriage, having children, and becoming unwed parents. The study is the first to examine all six outcomes...

It is widely agreed that the early years are a particularly important time forefforts to increase social mobility, because a good deal of inequality is alreadyapparent by the time children start school, and because children’s developmentmay be less amenable to change after they enter school....

The evidence strongly suggests a robust negative relationship between income and fertility, anda positive relationship between income and longevity. This is puzzling for standard dynamicmodels. For instance, altruistic models that use the most standard preferences in macro-timeseparable CRRA...

The law of one wage does not strictly hold, nor should it be expected to hold, in contemporary labor markets. The law of one wage, however, provides a surprisingly good first approximation of the structure of U.S. wages...

We investigate the impact of exogenous income fluctuations on health using twenty years ofdata from the Panel Study of Income Dynamics using techniques from the literature on theestimation of dynamic panel data models....

In 1958 Jacob Mincer pioneered an important approach to understand how earnings aredistributed across the population. In the years since Mincer’s seminal work, he as well as hisstudents and colleagues extended the original human capital model, reaching importantconclusions about a whole array...

State and federal reforms of the 1990s transformed the U.S. cash assistance program forsingle parents and their children. Despite an extensive literature examining these changesand their impacts, there have been few studies that consider the effects of these reformsfrom the perspective of the...

Demographic change will be one of the major challenges for economic policy in the developed world in the next decades. In this article, we analyze the relationship between age structure and the number of startups. We argue that an individual's decision to start a business is determined by his or...

We investigate the suggested substitutive relation between executive compensation and the disciplinary threat of takeover imposed by the market for corporate control. We complement other empirical studies on managerial compensation and corporate control mechanisms in three distinct ways. First,...