They find that while there is significant heterogeneity across countries, the reforms of recent decades have generally reduced the implicit tax on work at older ages. These changes correlate ...

Residential properties with the lowest rent levels provide the highest investment returns to their owners. Using detailed rent, cost, and price data from the United States, Belgium, and The ...

How do economic costs affect religious choices, and how do religious institutions adapt to economic realities? We study the Seventh-Day Adventist (SDA) church in Sub-Saharan Africa, which prohibits ...

The posterior means define a class of shrinkage estimators, indexed by hyperparameters that determine the relative weight on maximum likelihood estimates and prior means. In a Bayesian setting, it is ...

This paper examines how the composition of firm exposure and competition among imperfectly substitutable workers mediate the earnings, welfare, and unemployment incidence of changes in the ...

China’s stock market greatly outperformed other national markets during the first several months of the COVID-19 pandemic, and it did so even before it became evident that early containment efforts ...

Liquidity provision is often attributed to debt-issuing intermediaries like banks. We develop a unified theoretical framework and empirically show that mutual funds issuing demandable equity also ...

A near-catastrophic drought in Cape Town, South Africa illustrates three general implications of climate change for publicly-provided utility services. First, to reduce aggregate water demand, the ...

Since temperature affects many individuals within a region simultaneously, these health impacts could lead to surges in healthcare demand that generate hospital congestion. Climate change will only ...

We investigate the impact of digital technology on employment patterns in Korea, where firms have rapidly adopted digital technologies such as artificial intelligence (AI), big data, and the internet ...

How well they perform this role, however, depends on their ability to recruit and retain talented faculty who have alternative options in industry; moreover, such allocation of talent in academia vs.

We examine the rise of dark shipping—oil tankers disabling AIS transceivers to evade detection—amid Western sanctions on Iran, Syria, North Korea, Venezuela, and Russia. Using a machine learning-based ...