We propose the rise of crack cocaine markets as an explanation for the end to the convergence in black-white educational outcomes beginning in the mid-1980s. After constructing a measure to date the arrival of crack markets in cities and states, we show large increases in murder and...

Fueled by new evidence, there has been renewed interest about the effects of birth order on human capital accumulation. The underlying causal mechanisms for such effects remain unsettled. We consider a model in which parents impose more stringent disciplinary environments in response to their...

Selective universities regularly employ policies that favor children of alumni (known as legacies') in undergraduate admissions. Since alumni from selective colleges and universities have, historically, been disproportionately white, admissions policies that favor legacies have...