Using a lifecycle framework with Epstein-Zin (1989) utility and a mixed-integer optimization approach, we compute the optimal age to claim Social Security benefits. Taking advantage of homogeneity, a sufficient statistic is the ratio of wealth to the primary insurance amount (PIA). If the...

Evidence that welfare-to-work programmes in the USA succeed in boosting welfare recipients' earnings at modest cost has helped shape policy in Britain since 1997. So too has the belief that programmes that prioritise moving people into work quickly are more effective than ones that seek to...

This article presents a cost-benefit analysis of Britain's Employment Retention and Advancement (ERA) demonstration, which was evaluated through the first large-scale randomized control trial in the UK. ERA used a combination of job coaching and financial incentives in attempting to help...

"When evaluating a pilot or demonstration program, there are risks from drawing inferences from a single test. This paper reviews the experiences of replication efforts from demonstrations using randomized controlled trials in the initial evaluation and the replications. Although replications of...

Of welfare-to-work programs evaluated by random assignment, two stand out as having exceptionally large estimated effects: one in Riverside, California, and the other in Portland, Oregon. The authors use data from 24 evaluations and the tools of meta-analysis to examine why. The findings...