We conduct a résumé audit to estimate the impact of unemployment and underemployment on the employment prospects facing recent college graduates. We find no evidence that employers use current or past unemployment spells, regardless of their length, to inform hiring decisions. By contrast,...

We present experimental evidence from a correspondence test of racial discrimination in the labor market for recent college graduates. Online job advertisements were answered with over 9,000 résumé s from fictitious, recently-graduated job seekers. We find strong evidence of differential...

In this paper, we attempt to provide an economic explanation for the adoption of bill co-sponsorship by the U.S. House of Representatives in 1967. We demonstrate empirically that key features of legislative production prior to 1967 (when House members’ support for a bill was indicated by...

We investigate whether a change in the expectation of child custody affects the amount of time that married mothers and fathers devote to market and household work. Data from the Panel Study of Income Dynamics (PSID) coupled with plausibly exogenous variation in the adoption of joint-custody...

This paper examines the impact of inflation, (un)employment, and stock market growth on the rates of larceny, burglary, motor vehicle theft, and robbery. The study uses U.S. data for the time period 1948 to 2009. We employ an unobserved component approach to circumvent the problems associated...

Fluctuations in aggregate crime rates contrary to recent shifts in the age distribution of the U.S. population have cast doubt on the predictive power of the age-crime hypothesis. By examining a longer time horizon, back to the early 1930s,, we show that the percentage of the young population is...

We examine spillover effects of the recent U.S. financial crisis on five emerging Asian countries by estimating conditional correlations of financial asset returns across countries using multivariate GARCH models. We propose a novel approach that simultaneously estimates the conditional...

This paper investigates the short-run relationship between closed-end fund prices and their net asset values. In particular, we document three systematic differences between the short-run pricing behaviors for stock and bonds funds. For equity funds, we show that returns processes for both...

This paper estimates the degree of persistence of 16 long-horizon real exchange rates relative to the US dollar. We use nonparametric operational algorithms by El-Gamal and Ryu (2006) for general nonlinear models based on two statistical notions: the short memory in mean (SMM) and the short...

I study duopolistic market for differentiated medical products. Medical providers decide whether to sell on the spot market to sick consumers or to sell through competitive insurance market to healthy consumers. While shopping for insurance consumers know only the distribution of possible...