Abstract We use mortality rates and age specific estimates of the response of transfers and wealth to lifetime resources to estimate how much of an extra dollar of parental lifetime resources will ultimately be passed on to adult children in the form of inter vivos transfers and bequests. We...

In a labor market with tied hours-wage packages and wage dispersion for a partic ular type of job, constrained workers may be willing to sacrifice wag e gains for better hours when changing jobs. Likewise, workers may ac cept jobs offering undesirable hours only if the associated wage gain s are...

The authors examine the small sample properties of the generalized method of moments estimator applied to models of covariance structures, where it is commonly known as the optimal minimum distance (OMD) estimator. They find that OMD is almost always biased downward in absolute value. The bias...

In this paper, the authors examine the role of parental education in the human capital production function by estimating the effects of parental education on the education profile of wages. The analysis uses sibling pairs from the Panel Study of Income Dynamics and the National Longitudinal...

In this paper, the authors use the variance across siblings in school characteristics to estimate the effects of school inputs on wages. The analysis uses sibling pairs from the National Longitudinal Surveys of Labor Market Experience of Young Men and Young Women. They find that teachers'...

This paper uses Panel Study of Income Dynamics data on parents and their adult children to test the standard altruism model. This model predicts that, within the extended family, the distribution of consumption is independent of the distribution of resources. The authors' findings strongly...

This article treats education as a sequential choice that is made under uncertainty. A simple model is used to explore the effects of ability, high school preparation, preferences for schooling, the borrowing rate, and ex post payoffs to college on the probability of various postsecondary...

This article investigates the effect of external, national, and sectoral shocks on Canadian employment fluctuations at the national, industrial, and provincial levels. The authors assume that employment growth in each industry-province pair depends on U.S. growth; lagged Canadian growth at the...