The fall of the Berlin Wall in November 1989 resulted in a severe economic downturn and a stark temporary decline in fertility in East Germany. But did it also affect the fertility of future generations? In this paper, I investigate early motherhood - a marker of lifetime disadvantage - of those...

Standard economic models which focus on pecuniary payoffs cannot explain why there are highly able individuals who choose careers with low pecuniary returns. Therefore, financial incentives are unlikely to be effective in influencing career choices of these individuals. Based on Akerlof and...

SUMMARY We develop a panel data model explaining answers to subjective probabilities about binary events and estimate it using data from the Health and Retirement Study on six such probabilities. The model explicitly accounts for several forms of ‘reporting behavior’: rounding, focal point...

We develop and estimate a panel data model explaining the answers to questions about subjective probabilities, using data from the US Health and Retirement Study. We explicitly account for nonresponse, rounding, and focal point “50 percent” answers. Our results indicate that for three of the...

We study how severe acute health shocks affect the probability of not working in the U. S. versus in Denmark. The results not only provide insight into how relative disease risk affects labor force participation at older ages, but also into how different types of health care and health insurance...