This paper uses a new dataset on state compulsory attendance, continuation school, and child labor laws with the 1940 full count Census of Population to estimate the returns to schooling for native-born white men in the 1885-1912 birth cohorts. IV estimates of returns to schooling range from...

This paper uses a new dataset on state compulsory attendance, continuation school, and child labor laws with the 1940 full count Census of Population to estimate the returns to schooling for native-born white men in the 1885-1912 birth cohorts. IV estimates of returns to schooling range from...

This paper studies the causal effect of technology and knowledge transfers on early industrial development. Between 1950 and 1957, the Soviet Union supported the "156 Projects" in China for building technologically advanced industrial facilities. We exploit idiosyncratic delays in project...

The Chinese economy has undergone three major phases: the 1978-97 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government financial policies, defined as a set of...