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COSSA makes 10 suggestions to next Administration for supporting and using social science research

Thompson says US prison population is 'staggeringly high' at about 1.5 million, despite 2% drop for 2015

Levy et al. find Michigan's Medicaid expansion boosted state's economy while increasing number of insured

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2017 PAA Annual Meeting, April 27-29, Chicago

NIH funding opportunity: Etiology of Health Disparities and Health Advantages among Immigrant Populations (R01 and R21), open Jan 2017

Russell Sage 2017 Summer Institute in Computational Social Science, June 18-July 1. Application deadline Feb 17.

Russell Sage 2-week workshop on social science genomics, June 11-23, 2017, Santa Barbara

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Next Brown Bag

Mon, Jan 23, 2017 at noon:
Decline of cash assistance and child well-being, Luke Shaefer

The Decline in Household Saving and the Wealth Effect

Publication Abstract

Juster, F.T., J.P. Lupton, J.P. Smith, and Frank P. Stafford. 2006. "The Decline in Household Saving and the Wealth Effect." Review of Economics and Statistics, 88(1): 20-27.

Using a unique set of household-level panel data, we estimate the effect of capital gains on saving by asset type, controlling for observable and unobservable household-specific fixed effects. The results suggest that the decline in the personal saving rate since 1984 is largely due to the significant capital gains in corporate equities experienced over this period. Over 5-year periods, the effect of capital gains in corporate equities on saving is substantially larger than the effect of capital gains in housing or other assets. Failure to differentiate wealth effects across asset types results in a significant understatement of their size.

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