If students tend to choose instructors with high teaching ability, a negative link between class size and student performance may remain obscured until this kind of sorting has been taken into account. Using data from student evaluation surveys, we confirm that it is crucial to control for...

Using a new administrative dataset, we provide fresh micro-level evidence on firms’ returns to scale (RTS). We employ a new administrative database, iBACH, which contains extensive high-quality annual balance sheet, financial, and demographic information on more than two million non-financial...

We analyze the dispersion of month-end price marks simultaneously placed on identical corporate bonds by different US mutual fund managers before and after initiations of TRACE and introductions of issuers into Markit’s CDS database. Disseminated bonds show large and statistically significant...