I examine the real effects of financial markets on the timing of vehicle firms' safety-related recalls. Firms strategically time recalls in response to previously issued long-term debt prescheduled to mature by the end of the fiscal year in which defective products are manufactured. Maturing...

Product liability law reduces the costs of accidents to consumers thus reducing their incentive to invest in safety. We estimate the impact of tort liability on a subset of consumers who have significant control over the probability of an accident, the consumers of general aviation aircraft. The...