"We develop a framework that may be used to determine the degree to which a school choice program may harm public school stayers by luring the best students to other schools. This framework results in a simple formula showing that the "cream-skimming" effect is increasing in the degree of...

We develop and estimate a life-cycle model in which individuals make decisions about consumption, human capital investment, and labor supply and use it to analyze changes in Social Security rules. The most important aspect of our paper is human capital towards the end of the life cycle which...

For birth cohorts 1935-44, 1945-62, and 1964-74, we estimate the contribution of education; permanent heterogeneity in wage rates, employment, and hours; labor market shocks; spouse characteristics and shocks; nonlabor income shocks; and marital histories to the age profiles of the variance of...

We examine what determines the family income that men and women experience over their adult lives. To this end, we estimate a dynamic model of earnings, nonlabor income, fertility, marriage, and divorce. We use the model to address a number of important questions in labor and family economics,...