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Long-term care represents one of the largest uninsured financial risks facing the elderly in the United States. We present evidence of supply side market failures in the private long-term care insurance market. In particular, the typical policy purchased exhibits premiums marked up substantially above expected benefits. It also provides very limited(More)
Joel Slemrod, two anonymous referees, and numerous seminar participants for useful discussions and comments. helped us gather international top marginal tax rate data. We are very thankful to Miguel Ferreira for sharing the international CEO data from Fernandes, Ferreira, Matos, and Murphy (2013) with us. We acknowledge ˝nancial support from the Center for(More)
The economy is a miserable experimental design. T HE U.S. MINIMUM WAGE is now $4.25 per hour, and Congress is talking about increasing it. If the minimum were to be increased to $25 per hour many workers would lose their jobs. Cause and effect would be obvious , even to the most jaundiced eye. If the minimum is raised instead to just $5.15 per hour (as the(More)
The classic model of Becker (1965) suggests that labor supply decisions should be analyzed within the broader context of time allocation and market good consumption choices, but most empirical work on policy has focused exclusively on measuring impacts on market work. This paper examines how income taxes affect time allocation during the entire day, and how(More)
Immunocytochemistry and retrograde horseradish peroxidase (HRP) transport were used to study the ganglion of the nervus terminalis in the American eel, Anguilla rostrata. Luteinizing hormone releasing hormone (LHRH) like immunoreactivity was found in large, ganglion-like cells located ventromedially at the junction of the telencephalon and olfactory bulb(More)
Autoradiography of goldfish retinas incubated in micromolar levels of 3H-serotonin displayed 3 kinds of labeled somas in the inner nuclear layer: S1 amacrine cells with heavy labeling, large somas, and a sparse distribution (approximately 93/mm2); S2 amacrine cells with moderate labeling, smaller somas, and a denser distribution (approximately 500/mm2); and(More)
* We have benefited from helpful discussions with Abstract We study the implications of customs union formation for multilateral tariff cooperation. We model cooperation in multilateral trade policy as self-enforcing, in that it involves balancing the current gains from deviating unilaterally from an agreed-upon trade policy against the future losses from(More)
Any opinions, findings, conclusions, or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the view of the National Poverty Center or any sponsoring agency. Jim Ziliak, and two anonymous referees for detailed comments on a previous draft. ABSTRACT Estimates imply that only one-third of elderly persons who(More)
We use data from the Panel Study of Income Dynamics to estimate the effect of new saving incentives implemented as part of the 1996 welfare reform on household saving. Economic theory predicts that loosening asset limits will increase total savings for households with a large ex-ante probability of welfare receipt such as female-headed households with(More)