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A large body of literature suggests that the first years of life are critical for long-term economic, health and social outcomes. However, the effect of public programs on early life skills formation is largely unknown due to data limitations. In this paper we use novel data from a large...
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Using a dataset covering one quarter of the U.S. general-purpose credit card market, we document that 29% of accounts regularly make payments at or near the minimum payment. We exploit changes in issuers' minimum payment formulas to distinguish between liquidity constraints and anchoring as...
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We propose a test of bias based upon patterns of judicial errors. We model the trial court as minimizing a weighted sum of type I and II errors. We define racial bias a situation where the weight depends on defendant/victim race. If the court is unbiased, the error rate should be independent of...
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likelihood of engaging in violent crime or the selling of illicit drugs. However, our empirical estimates show that adolescents … who suffer from depression face an increased probability of engaging in property crime. Our estimates imply that the lower …-bound economic cost of property crime associated with adolescent depression is about 219 million dollars annually …
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