Recently, there has been a growing interest in network research, especially in these fields of biology, computer science, and sociology. It is natural to address complex financial issues such as the European sovereign debt crisis from the perspective of network. In this article, we construct a...

Recently, there has been a growing interest in network research, especially in the fields of biology, computer science, and sociology. It is natural to address complex financial issues such as the European sovereign debt crisis from the perspective of network. In this article, we construct a...

Every year millions of high school students and their parents in the US are asked to fill out complicated financial aid application forms. However, few studies have estimated the responsiveness of government financial aid schemes to changes in financial needs of the students. This paper...

Policy evaluations require estimation of program impacts on both mean and dispersion of potential outcomes, even though the previous identication eorts have focused mostly on impacts on the mean. We propose the use of instrumental variables and pairwise matching to identify the average treatment...

Parents preferring sons tend to go on to have more children un- til one or more boys are born, and to concentrate investment in boys for a given sibsize. Therefore, having a brother may affect child outcomes in two ways: indirectly, by decreasing sibsize, and directly, where sibsize remains...

Attending college seems to be a profitable and affordable investment in the US. Nevertheless, a number of academically talented young people still hesitate to attend college. This puzzle motivates this paper to test for whether college education is a risky investment. To measure the riskiness of...

The veterans disability compensation (VDC) program, which provides a monthly stipend to disabled veterans, is the third largest American disability insurance program. Since the late 1990s, VDC growth has been driven primarily by an increase in claims from Vietnam veterans, raising concerns about...

In a pro-male biased society, brothers may reduce the parental investment received by female siblings, if parents face time or financial constraints. But brothers may also cause positive externalities. Using more than 12,000 firstborn twins from a highly sex-imbalanced economy, Taiwan, we test...

The veterans disability compensation (VDC) program, which provides a monthly stipend to disabled veterans, is the third largest American disability insurance program. Since the late 1990s, VDC growth has been driven primarily by an increase in claims from Vietnam veterans, raising concerns about...