The literature documents that job satisfaction is positively correlated with worker performance and productivity. We examine whether aggregate job satisfaction in a certain labor market environment can have an impact on individual-level job satisfaction. If the answer is yes, then policies...

This paper develops an empirical model of the relationship between road traffic accidents and traffic flows. The analysis focuses on the accident externality which is mainly determined by the difference between the marginal and average risks. The model is estimated using a new dataset which...

This paper investigates the role of testing and age-composition in the Covid-19 epidemic. We augment a standard SIR epidemiological model with individual choices regarding how much time to spend working and consuming outside the house, both of which increase the risk of transmission. Individuals...

We model a higher education system that admits students according to their admission signal (e.g., matriculation GPA, SAT), which is, in turn, affected by their cognitive ability and socioeconomic background. We show that subsidizing education loans increases neither human capital stock nor...

The literature documents that job satisfaction is positively correlated with worker performance and productivity. We examine whether aggregate job satisfaction in a certain labor market environment can have an impact on individual-level job satisfaction. If the answer is yes, then policies...

A major issue raised by Alfred Marshall is whether competitive industries are subject to increasing or decreasing returns in the long run. If variations from constant returns exist, what are the causes, and is competitive output efficient? In competitive output is not efficient, what policies...

Reducing drink drive limits is generally regarded an effective strategy to save lives on the road. Using several new administrative data sources, we evaluate the effect of a stricter limit introduced in Scotland in 2014. This reduction had no effect on drink driving and road collisions....

Reducing drink drive limits is generally regarded an effective strategy to save lives on the road. Using several new administrative data sources, we evaluate the effect of a stricter limit introduced in Scotland in 2014. This reduction had no effect on drink driving and road collisions....

We discuss how an investment portfolio could dramatically reduce its carbon footprint, potentially even achieving ‘net zero.’ Our central message is that very large carbon reductions are feasible but not as straightforward as some commentators suggest. The usual approach of security...

This paper investigates the role of testing and age-composition in the Covid-19 epidemic. We augment a standard SIR epidemiological model with individual choices regarding how much time to spend working and consuming outside the house, both of which increase the risk of transmission. Individuals...