Contents

1. Introduction and Background 2

2. The Draft in America, 1915-1973 6

3. Data and Methods 11

4. Empirical approach and findings 17

4.1. Effect on education, marital status, and coupled status 17

4.2. Effect on earnings 20

4.3. Effect on retirement wealth 23

4.4. Effect on retirement decisions 26

5. Discussion and Implications 29

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