Smoking, Drinking, and Income

@inproceedings{Auld2005SmokingDA,
  title={Smoking, Drinking, and Income},
  author={M Christopher Auld},
  year={2005}
}
In an effort to further understanding of the “alcohol/income puzzle” — the finding that moderate and perhaps even heavy drinking appears to cause increased income — this paper presents maximum simulated likelihood estimates of a system of limited dependent variables governing smoking and drinking patterns and income. With all else in the system held constant, moderate drinking leads to 10% greater income than drinking abstention, whereas heavy drinking does not cause lower wages than moderate… CONTINUE READING

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