The demographic transition and economic growth in the Pacific Rim / Andrew Mason, Ronald Lee, and Sang-Hyop Lee ; comments: Jocelyn E. Finlay, Jong-Wha Lee -- Population aging and economic growth in Asia / David E. Bloom, David Canning, and Jocelyn E. Finlay ; comments: Roberto S. Mariano,...

We combine national administrative data on earnings and participation in subsidized housing to study how the demolition of 160 public housing projects--funded by the HOPE VI program--affected the adult labor market outcomes for 18,500 children. Our empirical strategy compares children exposed to...

A growing number of surveys elicit respondents' expectations for future events on a 0-100 scale of percent chance. These data reveal substantial heaping at multiples of 10 and 5 percent, suggesting that respondents round their reports. This paper studies the nature of rounding by analyzing...

Natural-resource taxation and investment exhibit cycles in a vast number of countries, driving political turmoil and power shifts. Using a rational-expectations model, we show cycles result from governments' inability to commit to future taxes and firms' inability to credibly exit a country...

The invention of new applications based on information and communications technologies (ICTs) has had two economic effects up to now. These applications have transformed production, creating value for applications-inventing companies and their customers and increasing economic growth through...

Online advertising offers unprecedented opportunities for measurement. A host of new metrics, clicks being the leading example, have become widespread in advertising science. New data and experimentation platforms open the door for firms and researchers to measure true causal effects of...

How important is human capital at the top of the U.S. income distribution? A primary source of top income is private "pass-through" business profit, which can include entrepreneurial labor income for tax reasons. This paper asks whether top pass-through profit mostly reflects human capital,...

This chapter reviews the recent debate about the role of social capital in economics. We argue that all the difficulties this concept has encountered in economics are due to a vague and excessively broad definition. For this reason, we restrict social capital to the set of values and beliefs...

We develop a model in which the capital of the intermediary sector plays a critical role in determining asset prices. The model is cast within a dynamic general equilibrium economy, and the role for intermediation is derived endogenously based on optimal contracting considerations. Low...