We investigate identification of causal parameters in case-control and related studies. The odds ratio in the sample is our main estimand of interest and we articulate its relationship with causal parameters under various scenarios. It turns out that the odds ratio is generally a sharp upper...

I quantify the causal impact of macroeconomic uncertainty on time-varying expected returns. The exogenous timing of macroeconomic announcements provides an instrument for uncertainty. Using daily measures of macroeconomic uncertainty and expected equity market returns, I find announcements...