Using the Dynamic Simulation of Income Model, we project how Social Security benefits and payroll taxes would change were Congress to enact the National Commission on Fiscal Responsibility and Reform's proposal. We show benefits at several points in time and relative to pre-retirement income, a...

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The objective of this paper is to analyze the process by which young Canadians decide to leave high school and to situate it in the context of the value of a high school diploma over the 1981-1998 period, conditional on not pursuing post-secondary education. Evidence from the 1981-96 Canadian...

This paper presents the results of a laboratory experiment involving some 250 subjects in the Montreal area. The experiment focused on three main questions : (1) Will the working poor invest in various assets? (2) Are these subjects willing to delay consumption for substantial returns? (3) How...