In the spring of 2013 the Bank of Japan introduced a state-of-the-art monetary policy which included among other things inflation targeting and aggressive use of forward guidance. In contrast to the predictions of conventional macroeconomic theory, these policies have had only very limited...

We study how different forms of communication influence the inflation expectations of individuals in a randomized controlled trial. We first solicit individuals' inflation expectations in the Nielsen Homescan panel and then provide eight different forms of information regarding inflation....

This paper evaluates the Swedish Riksbank's Inflation Reports' and draws comparisons among the Reports issued by the Riksbank, the Bank of England, and the Reserve Bank of New Zealand. This report poses and addresses a common set of questions about each of the three central banks' Inflation...

'Notice and Choice' has been a mainstay of policies designed to safeguard consumer privacy. This paper investigates distortions in consumer behavior when faced with notice and choice which may limit the ability of consumers to safeguard their privacy using field experiment data from the MIT...

We present evidence that complex disclosure can result from the strategic incentives to shroud information. We implement an experiment where senders are required to report their private information truthfully but can choose how complex to make their reports. We find that senders use complex...

Do firms release news strategically in response to investor inattention? We consider news about earnings and analyze the response of returns to announcements on Friday and other weekdays. Friday announcements have less immediate and more delayed stock return response. The delayed response as a...

This paper shows that although the top ten percent of colleges are substantially more selective now than they were 5 decades ago, most colleges are not more selective. Moreover, at least 50 percent of colleges are substantially less selective now than they were then. This paper demonstrates that...

Spending on big-time college athletics is often justified on the grounds that athletic success attracts students and raises donations. Testing this claim has proven difficult because success is not randomly assigned. We exploit data on bookmaker spreads to estimate the probability of winning...

Currently, there is insufficient evidence regarding which policies will improve nutrition, reduce BMI, the probability of obesity and the probability of overweight nationwide. This preliminary study investigates the impact of a nutrition-education policy relative to price policy as a means to...

We develop a model of a firm whose production process requires it to start and nurture a relationship with its stakeholders. Because there are spillover benefits associated with being associated with a "winner," the perceptions of stakeholders and potential stakeholders can affect firm value....