An empirical test of AFDC's asset limit, finding that after correcting for the potential endogeneity of policy, a $1 difference in limits implies a difference in potential AFDC recipients' wealth of 30 cents. ; This paper uses a stochastic cost frontier to examine the scale economies, cost...

A longitudinal study examining how the level of AFDC benefits and the per-child increment affect births. Although the findings support the "AFDC benefits cause births" hypothesis, the author shows that eliminating the new-birth increment would reduce total program costs by less than 3 percent,...

A look at some basic questions about the phenomenon of welfare births using data from the March 1987 Current Population Survey and the National Longitudinal Survey of Youth. ; An analysis of the quantitative effects of agency costs in a real business cycle model, showing that these costs can...

The primary goal of a national minimum wage floor is to raise the incomes of poor families with members in the work force. We present evidence on the effects of minimum wages on family incomes from March CPS surveys. Using non-parametric estimates of the distributions of family income relative...

Hostile takeovers may have significant implications for long-term employment contracts if they facilitate the opportunistic expropriation of extramarginal wage payments. We test the expropriation hypothesis by studying the relationship between proxies for extramarginal wage payments and...

A treatise that draws inferences about the potential behavorial responses to means testing Social Security by examining the effects of the Supplementary Security Income program for the aged on wealth accumulation and employment.

Workers initially earning near the minimum wage are adversely affected by minimum wage increases, while, not surprisingly, higher-wage workers are little affected. Although the pay of low-wage workers increases, their hours and employment decline, and the combined effect of these changes is a...