Women and men tend to work in different occupations. There has been substantial movement over the last forty years toward a more even distribution of men and women across occupations, but differences persist. Although a great deal of research has been devoted to the measurement of trends in...

The enormous problems facing the banking and thrift industries have concentrated attention on regulatory redesign, but these recent deliberations have not given sufficient attention to the sensitivity of depository institution risk to aggregate (or macroeconomic) shocks. This study offers a...

The prevailing account of expert vs. lay conflicts of risk intuition on such matters as nuclear waste and pesticides is that experts focus on a very narrow range of consequences, but ordinary people have a much richer sense of what is involved in choices about risk. Experts may feel comfortable...

In this paper, I estimate the extent of precautionary accumulation using data from a new survey: the US Health and Retirement Study, which samples older households. I account for many determinants of wealth, not only past economic circumstances and expectations about future resources, but also...

This paper focuses on the potential effects of small fluctuations in investors' subjective preferences (specifically, their discount factors and attitudes towards risk) on the volatility of equity prices. We briefly summarize some of the arguments and evidence regarding the fluctuations in...