We study the effect of education on equity ownership in the form of stocks or mutual funds (outside of retirement accounts). Using data from the Panel Study of Income Dynamics, we find a causal effect of education on stockholding using the number of colleges in the county where the respondent...

We study the determinants of individual attitudes toward risk and, in particular, why some individuals exhibit extremely high risk aversion. Using data from the Panel Study of Income Dynamics, we find that policy induced increases in high school graduation rates lead to significantly fewer...

We estimate natural-disaster impacts on children's school enrollments and math skills and test for impact heterogeneities with respect to age and gender in seven countries in Asia and the Pacific, which is the world's most disaster-prone region. We link survey data on children aged 5 to 17 to...

We develop and calibrate an overlapping generations general equilibrium model of the U.S. economy with heterogeneous consumers who face idiosyncratic earnings and health risk to study the implications of exogenous trends in increasing college attainment, decreasing fertility, and increasing...

We develop an overlapping generations general equilibrium model of the U.S. economy with heterogeneous consumers who face idiosyncratic earnings and health risk to study the implications of increasing college attainment, decreasing fertility, and increasing longevity (2005-2100). While all three...