This paper examines the contribution of the rise in the return to ability to the rise in the economic return to education. All of the evidence on this question comes from panel data sets in which a small collection of adjacent birth cohorts is followed over time. The structure of the data...

This paper tests restrictions implied by the canonical theory of insurance under asymmetric information using ideal data that contains the self-perceived and actual mortality risk of individuals, as well as the price and quantity of their life insurance. We report several findings which are hard...

This paper presents new evidence from the NLSY on the importance of meritocracy in American society. In it, we find that general intelligence, or g -- a measure of cognitive ability--is dominant in explaining test score variance. The weights assigned to tests by g are similar for all major...

The impact of information on consumer behavior is a classic topic in economics, and there has recently been particular interest in whether providing nutritional information leads consumers to choose healthier diets. For example, a nationwide requirement of calorie counts on the menus of chain...

Estimating peer effects is notoriously difficult because of the reflection problem and the endogeneity of peer group formation. This paper tests for peer effects in obesity in a novel way that addresses these challenges. It addresses the reflection problem by using the alter's genetic risk score...

This paper is the first to use the method of instrumental variables to estimate the causal impact of youth obesity on U.S. medical care costs. We examine data from the Medical Expenditure Panel Survey for 2001-2013 and instrument for child BMI using the BMI of the child's biological mother. IV...

A substantial literature has examined the impact of stress during early childhood on later-life health. This paper contributes to that literature by examining the later-life health impact of stress during adolescence and early adulthood, using a novel proxy for stress: risk of military induction...

The U.S. population receives suboptimal levels of preventive care and has a high prevalence of risky health behaviors. One goal of the Affordable Care Act (ACA) was to increase preventive care and improve health behaviors by expanding access to health insurance

The increase in the prevalence of obesity worldwide has led to great interest in the economic consequences of obesity, but valid and powerful instruments for obesity, which are needed to estimate its causal effects, are rare. This paper contributes to the literature by using a novel instrument:...

Estimates from difference-in-differences models indicate that, across all brands and sizes of products examined, 43.1 percent (95 percent confidence interval: 27.7 percent - 58.4 percent) of the Berkeley tax was passed on to consumers. The estimates also are consistent with cross-border...