The global financial crisis of 2007-2009 has generated a renewed interest in including personal finance in the secondary curriculum in the United States and in many countries around the world. This paper explains the features of a successful and unique high school personal finance curriculum,...

In this paper, we examine the performance of male and female students participating in a unique and successful high school program called Keys to Financial Success. Using the Financial Fitness for Life High School Test (FFFL-HS) results from 965 students enrolled in a one-semester Keys course,...

Misclassification of the dependent variable in binary choice models can result in inconsistency of the parameter estimates. I estimate probit models that treat misclassification probabilities as estimable parameters for three labor market outcomes: formal sector employment, pension contribution...

This paper simulates the use of transfers to households plus central-bank open-market purchases to generate a recovery of a low-interest-rate economy from a negative demand shock. Transfers to households are automatically triggered in recession; the prescribed anti-recession transfer ratio is...

Some economic models like the cash-in-advance model of money or overlapping generations model have the property that the dynamics are ill-defined going forward in time, but well-defined going backward in time. In such instances, what does it mean for an ill-defined dynamical system to be...

This paper examines the dynamic effects of government outlays on economic growth and the unemployment rate in the context of vector autoregression. We utilize data from 20 OECD countries over three recent decades. Our main conclusions are: (1) positive shocks to government outlays will slow down...