In the popular press and among policymakers the effect of no-fault divorce laws on divorce rates remains an issue (see e.g., New York Times, 23 July 1991). In my 1986 article in this Review, I show that the adoption of one form of no-fault divorceunilateral divorce-does not lead to a significant increase in divorce rates.' The theoretical model that is consistent with this empirical evidence would imply that the new law does not decrease the costs of divorce. It merely redefines which party has the right to terminate the marriage.

This paper measures the extent to which farmers are able to use savings and dissavings to smooth consumption in response to unexpected shocks to income. Time-series information on regional rainfall is used to construct estimates of transitory income due to rainfall shocks. The relationship between these measures of transitory income and savings indicates that farm households save a significantly higher fraction of transitory income than nontransitory income.