In the U.S., a number of states have mandated personal finance classes in public school curricula to address perceived deficiencies in financial decision-making competency. Despite the growth of financial and economic education provided in public schools, little is known about the effect of...

In the U.S., a number of states have mandated personal finance classes in public school curricula to address perceived deficiencies in financial decision-making competency. Despite the growth of financial and economic education provided in public schools, little is known about the effect of...

In this paper we estimate the income elasticity of smoking. In contrast to previous research, we address the econometric endogeneity of income as a determinant of smoking participation, cessation, and cigarette demand conditional upon participation. We use an instrumental variables (IV)...

Millions of minority homeowners are at risk of losing their homes as a result of the housing crisis due to mortgage foreclosure and home repossession. One consumer-oriented policy response to this crisis is mortgage default counseling for borrowers. This study examines the rate at which minority...

In this paper we estimate the causal income elasticity of smoking participation, cessation, and cigarette demand conditional upon participation. Using an instrumental variables (IV) estimation strategy we find that smoking appears to be a normal good among low-income adults: higher instrumented...

In the U.S., a number of states have mandated personal finance classes in public school curricula to address perceived deficiencies in financial decision-making competency. Despite the growth of financial and economic education provided in public schools, little is known about the effect of...

Concerned about low levels of financial literacy among teens and the importance of their looming financial decisions as emerging adults, state policymakers have expanded high school personal finance graduation requirements. Did these added requirements create an additional barrier for students?...

Beyond some contracted minimum, salaried workers? hours are largely chosen at the worker?s discretion and should respond to the strength of contract incentives. Accordingly, we consider the response of teacher hours to accountability and school choice laws introduced in U.S. public schools over...