This paper evaluates the effect on crime of creating a fundamental modern-day institution: centralized professional police forces tasked with preventing crime. We study the 1829 formation of the London Metropolitan Police - the first professional force worldwide. Using newly digitized and...

Recessions lead to short-term job loss, lower levels of happiness and decreasing income levels. There is growing evidence that workers who first join the labour market during economic downturns suffer from poor job matches that have a sustained detrimental effect on their wages and career...