In this paper, we exploit a unique event in the Chinese province of Heilongjiang. Seven high level officials were prosecuted for corruption as an unexpected consequence of an ordinary investigation in 2004. This event exposed a significant amount of corruption and resulted in a substantial...

Historic districts preserve the heritage of designated areas and tend to attract tourism income. However, these districts also come with specific restrictions and increased housing prices that could result in segregation. We study how two historic district programs impact residential segregation...

Milton Friedman, in the 1960s, was convinced that the British government official in charge of Hong Kong's economic policy — John Cowperthwaite — was largely responsible for running the most radical experiment in economic history. Cowperthwaite, a classical liberal enrolled in the British...