An empirical test of AFDC's asset limit, finding that after correcting for the potential endogeneity of policy, a $1 difference in limits implies a difference in potential AFDC recipients' wealth of 30 cents. ; This paper uses a stochastic cost frontier to examine the scale economies, cost...

Long gone are the days when most American workers could rely on their employers to manage their retirement savings. Today, most people handle their retirement portfolios themselves, gaining the right and responsibility to determine their own best strategies. Research on retirement planning...

How much should a family save for retirement and for the kids’ college education? How much insurance should they buy? How should they allocate their portfolio across different assets? What should a company choose as the default asset allocation for a mandatory retirement saving plan? We...