We generalize the seminal Gibbons-Ross-Shanken test to the empirically relevant case where the number of test assets far exceeds the number of observations. In such a setting, one needs to use a ...

In this article, we show that working from home is much more prevalent in the Nordic countries than in the rest of Europe and we discuss potential causes and labor market consequences of this stylized ...

We draw on a recombinant view of innovation, where being in a new location and/or multiple locations leads to exposure to novel combinations of ideas that increase the creativity of top scientists.

In this essay, I analyze the nationalization of large copper mines during Salvador Allende’s socialist government in Chile in the 1970s. This is one of the earliest cases “nationalization without ...

We measure whether expert patients – those trained as physicians and nurses – have fewer emergency department visits and the reasons for these differences. Relative to similar patients physicians and ...

We estimate intergenerational mobility of immigrants and their children in fifteen receiving countries. We document large income gaps for first-generation immigrants that diminish in the second ...

Doidge, Karolyi, and Stulz (2017) show that from 1999 to 2012 the US develops a listing gap relative to other countries, meaning that it has abnormally few publicly listed firms. In this paper, we ...

We examine sorting behavior across metropolitan areas by skill over individuals’ life cycles. We show that high-skill workers disproportionately sort into high-amenity areas, but do so relatively ...

We study the optimal design of corporate tax policy in a textbook life-cycle model featuring two key deviations: (i) firms are imperfectly competitive and (ii) households save by purchasing equity ...

Using a randomized control trial, this paper studies an at-scale preschool construction program that serves poor communities in rural Mozambique. We show that the program significantly increased ...

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Many governments and businesses would like to minimize or eliminate the greenhouse gases that result from their purchases of power from electricity grids. Because electricity flows cannot be traced ...