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We model the conditions under which parents optimally reallocate time to childcare when an outside agent exogenously restricts the number of hours an employer can demand of a working parent. Theoretically, when the restriction binds, a parent's available time increases. We exploit a series of voluntary and mandated labor-market reforms in South Korea that regulated the statutory and maximum work hours of parents. The government implemented the laws in stages by industry and size of firms. This implementation process generates exogenous variation across families where one or both partners worked at jobs that were or were not affected by the reform. We show the reforms affected work hours and use the predicted changes to investigate the total amount they spent on paid childcare and whether or not they changed the relative use of market and parental care. When fathers get more time (work less), parents spend less money on childcare. A change in mother's work time does not affect expenditures. When parents get more time, they are more likely to spend money on paid childcare for school-age children and more likely to use private academies. [ABSTRACT FROM AUTHOR]

Investigates whether state course graduation requirements affect high-school dropout decisions, using aggregate data on dropout rates, individual data from two time periods, and aggregate data on high-school completion rates over 15 years. Results strongly suggest that state-mandated minimum course requirements cause students to drop out. (Contains 25 references.) (MLH)

Although the prevalence of smoking has declined among US adults, an estimated 22.5% of the adult population (45.8 million adults) regularly smoked in 2002. Starting from this level, it will not be possible to achieve the Healthy People national health objectives of a reduction in the prevalence of smoking among adults to less than 12% by 2010 unless the rate of smoking cessation substantially rises from its current average of about 2.5%/year. To achieve that goal it is imperative that we better understand what factors are associated with successful quitting so that policies and resources can be better targeted. We describe the socioeconomic characteristics of smokers who attempt to and successfully quit and show how those characteristics differ across three methods they use in their cessation behavior. The results highlight socioeconomic differences across the methods smokers use and provide evidence that can be used to better target smoking cessation information and resources to smokers most likely to use particular methods. Better targeting is likely to lead to more quits. While it is unlikely that cessation rates can be raised by enough to achieve the reduction in national smoking prevalence that the Healthy People initiative has set, a better understanding of who chooses which method will move us closer to that goal. Keywords: Smoking cessation; Quit methods: Pharmaceutical smoking cessation products; Stop smoking programs; USA

To purchase or authenticate to the full-text of this article, please visit this link: http://dx.doi.org/10.1111/j.1467-8462.2007.00462.x Byline: Richard V. Burkhauser (1), Dean R. Lillard (1) Author Affiliation: (1)Department of Policy Analysis and Management, Cornell University Article History: February 2007

Objectives. Our objective was to show how a woman's economic well-being changes in the United States, Germany, Great Britain, and Canada after her husband's death and the importance of public and private income sources in offsetting the economic consequences of that death. Methods. With data from the Cross-National Equivalent File, we used event history analysis to track changes in the social security replacement rate and the more comprehensive total income replacement rate for women and to show how these changes vary across age and household income quintiles within and across countries. Results. There were substantial differences across the countries in how income from specific sources changes, especially with respect to the mix of income from government and private sources, but the overall across-country pattern of total income replacement rates was remarkably similar both in size and in distribution across age and the woman's place in the income distribution prior to her husband's death. Discussion. Studies that focus on a social security replacement rate will seriously understate the actual total income replacement rate of women following a husband's death. This will especially be the case in countries like the United States where private sources of income play a more important role in income replacement.

Objectives. The goal of the study was to show that cross-sectional and longitudinal data yield dramatically different answers to a basic question: 'How did older persons fare in the recovery years of the 1980s?' Methods. The United States Panel Study of Income Dynamics and the German Socio-Economic Panel are used cross-sectionally to capture changes in the economic well-being of older persons in the trough and peak years of the 1980s business cycle, and longitudinally to trace how the economic well-being of a given cohort of older persons changed over those years. Kernel density estimation is then used to show how the distribution of economic well-being of these populations changed over these years. Results. Cross-sectional comparisons confirm that persons aged 65 and over in the peak year were better off than persons aged 65 and over in the trough year in both countries. Longitudinal comparisons, however, show that persons aged 65 and over in the trough year who survived to the peak year received a substantially smaller share of the rewards of economic recovery than cross-sectional comparisons imply. Moreover, the entire income distribution of older persons in the United States shifted downwards. Discussion. Compositional changes in the cross-sectional data, caused by the entry of high-income persons who are young in the peak year but old in the trough year, obscure the decline in the economic well-being of the cohort of older persons who survived the trough year, in cross-sectional comparisons of older populations in the United-States in the 1980s.

We investigate how the genetic risk of developing Alzheimer's Disease (AD) relates to saving behavior. Using nationally representative data from the 1996–2014 Health and Retirement Study (HRS), we find that genetic predisposition for AD correlates with, but is not causally related to how older individuals' hold wealth in different asset types. People with a higher AD polygenic risk score (PGS) hold roughly 20 per cent less wealth in IRAs and contribute about 24 percent less to IRAs between survey periods. We hypothesize that people with a high risk of AD choose different portfolios: (i) because they know their genetic risk of developing AD from parental history, (ii) because they have the lower cognitive capacity, and (iii) because they indirectly learn about their genetic predisposition for AD as they age. Our extended model results show that the first two hypotheses do not account for the observed correlation. Consistent with the third hypothesis, the interaction between age and the AD PGS accounts for the correlation between genetic traits and asset holdings. Our findings have far-reaching implications for researchers using genetic data: when indirect learning about own predispositions is possible, correlations between genes and choices must be interpreted with caution. [ABSTRACT FROM AUTHOR]