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...

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...

This paper uses Panel Study of Income Dynamics data on the extended family to test whether inter vivos transfers from parents to children are motivated by altruism. Specifically, the paper tests whether an increase by one dollar in the income of parents actively making transfers to a child...

Many previous studies have found a strong positive effect of job seniority (tenure) on wag es. This paper reexamines the evidence using a simple instrumental va riables scheme to deal with the fact that tenure is likely to be rela ted to unobserved individual and job characteristics that affect...