between 1982 and 1994. The findings imply that we have underestimated growth rates in true income in the 1920s and 1930s and …

We estimate the trend in the transitory variance of male earnings in the U.S. using the Michigan Panel Study of Income …

One would expect that family income is an important positive factor in the school attainment of children. However … unobserved parental ability. In the end, family income still has a significant effect, which must therefore be causative. It … implies that high-ability children in low-income families face binding credit constraints that society may wish to relieve. …