Research and policy discussion about the diverging fortunes of children from advantaged and disadvantaged households have focused on the skill disparities between these children – how they might arise and how they might be remediated. Analysis of data from the National Longitudinal Study of...

Common preference models of family behavior imply income pooling, a restriction on family demand functions such that only the sum of husband's income and wife's income affect the allocation of goods and time. Testing the pooling hypothesis is difficult because most family income sources are not...

This paper conducts counterfactual historical analysis of several monetary policy rules by contrasting actual settings of instrument variables with values that would have been specified by the rules in response to prevailing conditions. Of particular interest is whether major policy mistakes,...