Real interest rates rose to historically high levels in 1980 and remained high throughout the decade. Macroeconomists attribute this phenomenon to a combination of tight monetary policy, fiscal deficits, and variable inflation rates. This paper presents preliminary evidence for an additional...

Discrimination is notoriously difficult to document. Convincing tests for discrimination require good measures of the legitimate determinants of the outcome of interest, for example wages and productivity. While few contexts provide data adequate to the task of measuring discrimination, copious...