Using a unique administrative level dataset from a large and diverse U.S. financial institution, we test the impact of rewards on credit card spending and debt. Specifically, we study the impact of cash-back rewards on individuals before and during their enrollment in the program. We find that...

The recent financial crisis has led to calls for a better understanding of the reasons behind the increase in mortgage defaults and the foreclosures that followed. Previous studies using option-based mortgage default models predicted that borrowers should immediately exercise the default option...

This paper examines the gender wage gap in Singapore's taxi industry using hourly income data for male and female taxi drivers in 7 million taxi rides from January 2009 to November 2010. Using a fixed-effects model, we find a 4.5% gender wage gap between female and male taxi drivers. We find...