Economists have puzzled over why eligible individuals fail to enroll in social safety net programs. "Chilling effects" arising from an icy policy climate are a popular explanation for low program take-up rates among immigrants, but such effects are inherently hard to measure. This paper...

This paper provides new evidence in support of the idea that bouts of optimism and pessimism drive much of US business cycles. In particular, we begin by using sign-restriction based identification schemes to isolate innovations in optimism or pessimism and we document the extent to which such...

UK population growth over the past thirty-five years has been remarkably low in comparison with other countries; the population grew by just 7% between 1971 and 2004, less than all the other EU15 countries. The UK population has grown at a faster pace since the turn of the millennium. Both the...

Community targeting of vote payments — defined as the saturation of entire neighborhoods with cash prior to elections — is widespread in the developing world. In this paper, we utilize laboratory experiments conducted in the U.S. and Kenya to demonstrate that, relative to individual...

We use a repeated survey of an Italian bank's clients to test whether investors' risk aversion increases following the 2008 financial crisis. We find that both a qualitative and a quantitative measure of risk aversion increases substantially after the crisis. After considering standard...

We study the emergence of urban self-governance during the Commercial Revolution in the 12th- 13th century and show that municipal autonomy shaped national institutions over the subsequent centuries. We focus on England after the Norman Conquest of 1066 and build a novel comprehensive dataset of...