The author critically evaluates the logic behind industrial targeting and explains why these policies fail simple cost-benefit tests.

The author critically evaluates the logic behind industrial targeting and explains why these policies fail simple cost-benefit tests.

Analyzing a panel dataset tracking format changes and ownership consolidation in local radio markets, we find that format changes frequently have enabled stations to improve their performance, The success of reformatting varies widely across format, and the likelihood that changing to another...

When parents save money for their children's college education, a portion of their savings is later taken away in the form of reduced eligibility for college financial aid. We estimate the long-run impact of this implicit asset tax by estimating family preferences over life-cycle consumption,...

This paper describes the likelihood and duration of nursing home admissions experienced by Americans after age 65. Our analysis generates predictions for a representative population, not for one selected to be at high risk of institutionalization, and should therefore be of direct relevance to...