This paper shows how a shorter fecundity horizon for females (a biological constraint) leads to age and educational disparities between husbands and wives. Empirical support is based on data from a natural experiment commencing before and ending after China's 1980 one-child law. The results...

Using a regulatory version of TRACE data that include almost all primary and secondary market trades in corporate bonds over the period 2010-2017, we provide the first comprehensive study on the primary market for corporate bonds. Secondary market illiquidity can drive gains from primary market...

Different market characteristics and investor behavior render the use of underpricing, widely used for equity IPOs, inadequate as a measure of gains from primary market allocations in corporate bonds. We propose a measure that reflects the illiquidity costs that investors save by avoiding...

This paper shows how a shorter fecundity horizon for females (a biological constraint) leads to age and educational disparities between husbands and wives. Empirical support is based on data from a natural experiment commencing before and ending after China's 1980 one-child law. The results...

Valuation of corporate debt has been an extremely important, albeit imprecise task in asset pricing. Both structural models and reduced form models have had limited success in explaining the corporate yield spreads observed in actual markets. Taking advantage of a unique corporate bond dataset...

This paper shows how a shorter fecundity horizon for females (a biological constraint) leads to age and educational disparities between husbands and wives. Empirical support is based on data from a natural experiment commencing before and ending after China's 1980 one-child law. The results...

This paper shows how a shorter fecundity horizon for females (a biological constraint) leads to age and educational disparities between husbands and wives. Empirical support is based on data from a natural experiment commencing before and ending after China's 1980 one-child law. The results...