Can protests cause political change, or are they merely symptoms of underlying shifts in policy preferences?

In this paper, we estimate the size of the externalities produced by big-box retail stores for other establishments and explore the effect of the externalities on local government policy.

We describe the broad range of uncertainties faced by the developers of medical technologies. Empirically, we estimate the asset market incidence of the realization  of two such of uncertainties experienced by the biotechnology firm Myriad Genetics, Inc.

Can access to regulators provide operational benefits to firms?

We propose a model of voter decision-making in proportional representation systems: ultra-rational strategic voters construct expectations of coalitions and policy outcomes based on expected seat distributions and vote to maximize their expected utility from the implemented policy.

Can protests cause political change, or are they merely symptoms of underlying shifts in policy preferences?

This working paper finds no evidence that the SBA loan guarantees serve any focused or rigorously defined public policy purpose at all.

Despite the frequency of tax changes and their potential importance to investors, there has been relatively little modeling of anticipated tax changes.

The instability of labor earnings in the United States contributes to earnings inequality and may diminish household welfare. Despite the importance of earnings instability little is known about its correlates or causes. This paper seeks to better understand earnings instability by studying...

In a financial intermediary, risk managers can expend effort to reduce loan probability of default and loss given default, but effort is unobservable. Incentive compensation (IC) can induce manager effort. When deposit insurance is subsidized, the demand for risk management declines. Regulatory...