The recent growth in the formation of think tanks in the United States raises questions about their role in the democratic process. In this article we present a theory of think tank formation. Our theory posits that committee debate creates incentives for legislators to seek research-based,...

Entrepreneurship has declined among younger households, those headed by somebody less than 50 years old, while it has increased among older households over the past two decades. We explore whether this divergence in entrepreneurial activity could be linked to different experiences with income...

Older households need to save more money for retirement, possibly by working longer. But, the same labor market pressures that have made it harder for people to save, such as increasingly unstable labor markets, have also made it more difficult for people to work longer as wage and salary...