A person's schooling years are a formative time for cognitive development, and also a period of intense social interaction and friendship formation. In this paper, we estimate the production of social capital during adolescence and its effect on wages. We develop a model where homophily and...

A person’s schooling years are a formative time for cognitive development, and also a period of intense social interaction and friendship formation. In this paper, we estimate the production of social capital during adolescence and its effect on wages. We develop a model where homophily and...

Heroes and Cowards demonstrates the role that social capital plays in people's decisions. The makeup of various companies--whether soldiers were of the same ethnicity, age, and occupation--influenced whether soldiers remained loyal or whether they deserted. Costa and Kahn discuss how the...

"We find that veterans of the Union Army who faced greater wartime stress (as measured by higher battlefield mortality rates) experienced higher mortality rates at older ages, but that men who were from more cohesive companies were statistically significantly less likely to be affected by...

We find that veterans of the Union Army who faced greater wartime stress (as measured by higher battlefield mortality rates) experienced higher mortality rates at older ages, but that men who were from more cohesive companies were statistically significantly less likely to be affected by wartime...

At the end of the U.S Civil War, veterans had to choose whether to return to their prewar communities or move to new areas. The late 19th Century was a time of sharp urban growth as workers sought out the economic opportunities offered by cities. By estimating discrete choice migration models,...