Using 100 percent Medicare Part B fee-for-service (FFS) claims in 2012 for people under age 65, I examine office and outpatient services by state and primary diagnosis for the service. The number of services per Medicare-eligible beneficiary in the U.S. Social Security Disability Insurance...

Second mortgages accounted for 10.8% of the stock of outstanding mortgage debt at the end of 1987, up from 3.6% at the beginning of the 198Os. This paper investigates the determinants of second mortgage borrowing and the characteristics of second mortgage borrowers. We first calculate the...

Previous empirical studies of NAFTA have commonly used trade models that do not allow international capital flows to adjust to changes in regional trade arrangements such as NAFTA. This paper explores the dynamic implications of NAFTA with particular focus on the short-run and longer-run...

This paper decomposes the money stock into constituent parts to examine the relationship between monetary variables and real economic activity using vector autoregression for 1954 to 1979. The first decomposition reveals that innovations in money multiplier growth rates are approximately three...

This paper examines baby boom effects in a simple three-period overlapping generations model in which equilibrium must be maintained in the housing market, as well as in the loanable funds market. All agents must buy a house financed by an adjustable-rate mortgage in the first period....