This paper uses monthly zip code-level data on electricity disconnections to document the socioeconomic correlates of extreme economic distress among 5 million customers in Illinois. In 2018-2019, customers in Black and Hispanic zip codes were about 4 times more likely to be disconnected for...

We investigate the relationship between individual trust and individual economic performance. We find that individual income is hump-shaped in a measure of intensity of trust beliefs. Our interpretation is that highly trusting individuals tend to assume too much social risk and to be cheated...

This paper investigates the dynamics of individual portfolios in a unique dataset containing the disaggregated wealth of all households in Sweden. Between 1999 and 2002, we observe little aggregate rebalancing in the financial portfolio of participants. These patterns conceal strong...