In contrast to most countries in Europe, which have organized their health care financing into publicly-funded universal systems, the United States relies on a heterogeneous mix of arrangements to finance health insurance. Employer-based insurance covers 63% of the non-elderly. Medicare provides...

This paper estimates how cost-sharing affects the use of prescription drugs. The data for this analysis are derived from the Rand Health Insurance Experiment (HIE), a randomized controlled trial that randomly assigned participants to insurance plans with varying coinsurance rates and...

This paper adapts the idea of on-the-job training (OJT) to investments that families make in children before formal schooling begins. Like OJT, in-home training occurs in informal settings, requires costly time inputs and is complementary with formal schooling. In addition to choosing among home...

If the expenditure of resources in childhood affects the outcomes in adulthood, the adult distribution of education and incomes will depend at least partially on investments made in childhood. There is considerable variation in the amount of parental inputs children of various socio-economic...

An essential feature of schooling is not only that it occurs in a different site than most on-the-job training but also that it is more intensive. That is, a smaller proportion of gross potential earnings is sacrificed in on-the-job training than in schooling. In estimating human capital...