Draft-lottery estimates of the causal effects of Vietnam-era military service using 2000 census data show marked schooling gains for veterans. We argue that these gains can be attributed to Vietnam veterans’ use of the GI Bill rather than draft avoidance behavior. At the same time, draft...

Military service reduces civilian labor market experience but subsidizes higher education through the GI Bill. Both of these channels are likely to affect civilian earnings. New estimates of the effects of military service using Vietnam-era draft-lottery instruments show post-service earnings...

Representative consumers can be very Pareto inconsistent. We describe a community, with equal income distribution, where all consumers require 50% higher aggregate income than the representative consumer requires in order to be compensated for the doubling of a price. Such large inconsistencies...