English Abstract: We examine heterogeneity in the effect of poor financial circumstances on cognition. Our analysis uses data from an experiment, which randomly assigned low-income individuals to perform a cognitive test before or after payday. On average, and based on traditional subgroup...

English Abstract: We document increased old-age mortality rates among Swedish twin mothers compared to non-twin mothers. Results are based on administrative data on mortality for the years 1990 to 2010. We argue that twins are an unplanned shock to fertility in the cohorts of older women...

English Abstract: Assumptions that are sufficient to identify local average treatment effects (LATEs) generate necessary conditions that allow instrument validity to be refuted. The degree to which instrument validity is violated, however, probably varies across subpopulations. In this paper, we...

Asymmetric information is an important phenomenon in insurance markets, but the empirical evidence on the extent of adverse selection and moral hazard is mixed. Because of its implications for pricing, contract design, and regulation, it is crucial to test for asymmetric information in specific...

Testing for asymmetric informations has become very important in recent years in order to test theoretical predictions and to outline new directions for research. In this paper we analyse accident insurance, which has not been analysed before in the literature, but covers one of the most...