Self-reported home values are widely used as a measure of housing wealth by researchers; the accuracy of this measure, however, is an open empirical question, and requires some type of market assessment of the values reported. In this study, the authors examine the predictive power of...

The labor supply and benefit claiming incentives provided by the early retirement rules of the Social Security Old Age benefits program are of growing importance as the Normal Retirement Age (NRA) increases to 67, the labor force participation of Older Americans rises, and a variety of reforms...

Using data on correction rates for vehicle recalls in the United States from 2007 to 2010, we investigate information transmission from manufacturers to owners regarding the defects of recalled vehicles. We pay special attention to the role of the language manufacturers use to convey each...

This paper presents a dynamic model of labor/leisure, consumption/saving and annuity decisions over the life cycle. Such a dynamic model provides a framework for considering important policy experiments related to the reforms in Social Security. We address the role of labor supply in a life cyle...

This paper uses the only representative sample of the Russian Federation, the Russian Longitudinal Monitoring Survey, to estimate the returns to education in this ex-communist country. This is one of the first studies to tackle this classic issue in labor economics with the realistic expectation...

A pervasive concern with the use of self-reported health and disability measures in behavioral models is that they are biased and endogenous. A commonly suggested explanation is that survey respondents exaggerate the severity of health problems and incidence of disabilities in order to...

This paper uses the first three waves of the Health and Retirement Survey (HRS) to investigate the determinants of labor force status among older Americans. Using transitions at two-year intervals we find that after being retired or unemployed, those who are actively searching for a job have a...