A large agronomic literature models the implications of climate change for a variety of crops and locations around the world. The goal of the present paper is to quantify the macro-level consequences of these micro-level shocks. Using an extremely rich micro-level dataset that contains...

US crops face higher losses as growing season temperatures rise and destructive disasters become commonplace. The Natural Resources Conservation Service (NRCS) easement programs offer an adaptation strategy to improve agricultural resilience. Easements impact agricultural production directly by...

We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...

Mandated shutdowns of nonessential businesses during the COVID-19 crisis brought into sharp relief the tradeoff between public health and a healthy economy. This paper documents the short-run effects of shutdowns during the Spanish flu pandemic of 1918, which provides a useful counterpoint to...

This note lays out the basic Susceptible-Infected-Recovered (SIR) epidemiological model of contagion, with a target audience of economists who want a framework for understanding the effects of social distancing and containment policies on the evolution of contagion and interactions with the...

By reducing the commitment made by employers, fixed-term contracts can help low-skilled youth find a first job. However, the long-term impact of fixed-term contracts on these workers' careers may be negative. Using Spanish social security data, we analyze the impact of a large liberalization in...

Many of the world's environmental problems cross international borders, and to address those problems approximately 1,000 different International Environmental Agreements (IEAs) are in operation today. Most evidence, however suggests that those IEAs are ineffectual, merely ratifying...

We study the influence of agricultural labor intensity on individualism across U.S. counties. To measure historical labor intensity in agriculture we combine data on crop-specific labor requirements and county-specific crop mix around 1900. To address endogeneity we exploit climate-induced...

We use individual-level data on all security trades, holdings, spending, and income from an online retail bank. We study the effects of an exogenous change in the displayed purchase prices of the mutual funds in individuals' portfolios. We find that individuals are more likely to sell what we...