Consumers are very responsive to sales, yet statistical agency practice typically under-weights sale prices in the Consumer Price Index (CPI). Evidence is lacking on the impact on the representativeness of prices included in the CPI and on estimates of inflation. We use high-frequency scanner...

The 1983 amendments to Federal Rule of Civil Procedure Rule 11, which dealt with frivolous litigation papers, prompted much controversy, satellite litigation, and a new cottage industry, Rule amendments in 1983 increased both the range of sanctionable attorney conduct and the extent of judicial...

As a result of the Global Financial Crisis, weaknesses in New Zealand's securities law regulatory regime have become more apparent. Reviews and reforms are currently being undertaken and implemented to ensure the robustness of the regulatory system. For example, the Financial Markets Authority...

We analyze the electoral consequences of India's 2016 ‘demonetization': a unique policy that unexpectedly made 86% of the currency-in-circulation redundant overnight, and led to severe cash shortages in the subsequent months. We leverage a discontinuity in the number of bank branches arising...

Civil monetary penalties play a vital role in federal law. The Federal Civil Penalties Inflation Adjustment Act of 1990, Pub. L. No. 101-410, prescribes rules for the regular adjustment of federal civil monetary penalties in response to inflation. Three statutory defects have undermined the...

While there is a growing literature on the electoral effects of targeted government transfers, we know far less about voter responsiveness to aggregate monetary policy shocks. We analyze the effect on voter behavior and subsequent electoral consequences of such an aggregate economic shock –-...