There is a rising importance of human capital in the total capital stock of an economy. In this paper we discuss the nature of investments in children and sketch out the diverse kinds of inputs to the developmental process across different countries at selected time points. The observable inputs...

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This paper examines cross-generational connections in asset ownership. It begins by presenting a theoretical framework that develops the distinction between the intergenerational transfer of knowledge about financial assets and the direct transfer of dollars from parents to children. Its...

The U.S. economy experienced a dramatic rise in the price of owner occupied housing during 1999-2007, and then a precipitous decline from 2007 through 2009. In this paper we utilize data from the Panel Study of Income Dynamics (PSID) during 1999-2009 to study first the factors and borrowing...

The contributors to this comprehensive book compile and analyse the latest data available on household wealth using, as case studies, the United States, Canada, Germany, Italy, Sweden, and Finland during the 1990s and into the twenty-first century. The authors show that in the US, trends are...

This study explores determinants of the wage penalty borne by smokers. The authors reconstruct individual smoking histories by pooling PSID (Panel Study of Income Dynamics) data for 1986–2001. They find no wage gap between former smokers and those who had never smoked, but statistically...

By collecting annual economic and demographic information from a large and representative sample of U.S. households for over a quarter century, the Panel Study of Income Dynamics has compiled a remarkably useful set of microdata. This article describes the PSID and how its unique longitudinal...