Low minimum legal drinking ages (MLDAs), as prevalent in many European countries, are severely understudied. We use rich survey and administrative data to estimate the impact of the Austrian MLDA of 16 on teenage drinking behavior and morbidity. Regression discontinuity estimates show that legal...

We exploit the unexpected announcement of an immediate, temporary VAT cut in Germany in the second half of 2020 as a natural experiment to study the spending response to unconventional fiscal policy. We use survey and scanner data on households’ consumption expenditures and their perceived...