Economic Conditions, Illicit Drug Use, and Substance Use Disorders in the...
We provide the first analysis of the relationship between economic conditions and the use of illicit drugs other than marijuana. Drawing on US data from 2002-2013, we find mixed evidence with regard to...
View ArticleThe Market for Financial Adviser Misconduct -- by Mark Egan, Gregor Matvos,...
We construct a novel database containing the universe of financial advisers in the United States from 2005 to 2015, representing approximately 10% of employment of the finance and insurance sector....
View ArticleThe Long Run Effects of Labor Migration on Human Capital Formation in...
We provide new evidence of one channel through which circular labor migration has long run effects on origin communities: by raising completed human capital of the next generation. We estimate the net...
View ArticleHow Does Access to Health Care Affect Teen Fertility and High School Dropout...
Children from low-income families face persistent barriers to accessing high-quality health care services. Previous research studies have examined the importance of expanding children's health...
View ArticleOwning, Using and Renting: Some Simple Economics of the "Sharing...
New Internet-based markets enable consumer/owners to rent out their durable goods when not using them. Such markets are modeled to determine ownership, rental rates, quantities, and surplus generated....
View ArticleHow Crashes Develop: Intradaily Volatility and Crash Evolution -- by David S....
This paper explores whether affine models with volatility jumps estimated on intradaily S&P 500 futures data over 1983-2008 can capture major daily outliers such as the 1987 stock market crash. I...
View ArticlePopular Attitudes towards Markets and Democracy: Russia and United States...
We repeat a survey we did in the waning days of the Soviet Union (Shiller, Boycko and Korobov, AER 1991) comparing attitudes towards free markets between Moscow and New York. Additional survey...
View ArticleDecision-Making under the Gambler's Fallacy: Evidence from Asylum Judges,...
We find consistent evidence of negative autocorrelation in decision-making that is unrelated to the merits of the cases considered in three separate high-stakes field settings: refugee asylum court...
View ArticleRestoring Rational Choice: The Challenge of Consumer Financial Regulation --...
This lecture considers the case for consumer financial regulation in an environment where many households lack the knowledge to manage their financial affairs effectively. The lecture argues that...
View ArticleHealth Capacity to Work at Older Ages in France -- by Didier Blanchet, Eve...
France stands out as a country with a low labor force attachment of older workers. A reversal in the trend of French labor participation rates over 50 is under way, partly due to the pension reforms...
View ArticleDoes Incomplete Spanning in International Financial Markets Help to Explain...
Compared to the predictions of exchange rate models with complete spanning in financial markets, actual exchange rates are puzzlingly smooth and only weakly correlated with macro-economic fundamentals....
View ArticleExperimental Research on Labor Market Discrimination -- by David Neumark
Understanding whether labor market discrimination explains inferior labor market outcomes for many groups has drawn the attention of labor economists for decades - at least since the publication of...
View ArticleEconomic Policy Uncertainty and the Credit Channel: Aggregate and Bank Level...
Economic policy uncertainty affects decisions of households, businesses, policy makers and Financial intermediaries. We first examine the impact of economic policy uncertainty on aggregate bank credit...
View ArticleThe Term Structure of Interest Rates in India -- by Rajnish Mehra, Arunima Sinha
We examine the term structure of interest rates in India to see if the yield curve can be rationalized based on the 'expectations hypothesis'. Although we find evidence of predictability for holding...
View ArticleUsing Preference Estimates to Customize Incentives: An Application to Polio...
We use structural estimates of time preferences to customize incentives for a sample of polio vaccinators during a series of door-to-door immunization drives in Pakistan. Our investigation proceeds in...
View ArticleHealth Capacity to Work at Older Ages in Denmark -- by Paul Bingley, Nabanita...
Longevity is increasing and many people are spending a greater proportion of their lives reliant on pensions to support consumption. In response to this, several countries have mandated delays to age...
View ArticleWhat Makes US Government Bonds Safe Assets? -- by Zhiguo He, Arvind...
US government bonds are widely considered to be the world's safe store of value. US government bonds are a large fraction of safe asset portfolios, such as the porfolios of many central banks. The...
View ArticleThe Demand for Diversification in Incomplete Markets -- by Rajnish Mehra,...
Endogenous diversification in a market with incomplete information generates a state-dependent premium for bearing idiosyncratic risk because time series variation in average idiosyncratic risk affects...
View ArticleSocial Norms, Labor Market Opportunities, and the Marriage Gap for Skilled...
In most of the developed world, skilled women marry at a lower rate than unskilled women. We document heterogeneity across countries in how the marriage gap for skilled women has evolved over time. As...
View ArticleField Experiments on Discrimination -- by Marianne Bertrand, Esther Duflo
This article reviews the existing field experimentation literature on the prevalence of discrimination, the consequences of such discrimination, and possible approaches to undermine it. We highlight...
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