Portfolio composition varies widely among age groups.

Even though Black and White college graduates borrow similar amounts for school, Black grads are significantly more likely to default on student loans.

One of the most striking differences between Black and White households is a large disparity in wealth. A potential source of this gap is differences in transfers of wealth within families through bequests or gifts.

Commonly used summary statistics for measuring the Black-White wealth gap have significant limitations. Here's a measure to help address these limitations.

Less-educated White men who are incarcerated at least once have a higher survival probability than those who are never incarcerated.

People who pay student loans back using income-driven repayment plans are less likely to default than those who use standard repayment plans.

Research finds that first-time incarceration can decrease men's lifetime earnings by up to 50 percent.

A quantitative model of college enrollment suggests that the value of college access varies greatly across individuals.

The classical theory of household portfolio allocation finds that the share of household wealth invested in risky assets is independent of the level of household wealth. However, this prediction is at odds with empirical observations.

Why isn't the U.S. producing more college graduates? Two key — and related — factors appear to play a role in college enrollment and completion: socioeconomic status and preparedness, broadly defined to include both academic preparation and the knowledge needed to make informed choices about college.

We study the implications of incarceration for the earnings and employment of different groups, characterized by their race, gender, and education.

Through an empirically-disciplined human capital model, we demonstrate that the value of college varies dramatically across US high school completers.