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agencies resulting in considerable regional variation, expressed in milder and stricter sanction regimes. Findings from … regional sanction regimes as instrumental variables to estimate the LATE of sanctions on the individual employment probability …. A tighter sanction policy can be quite effective for non-compliant welfare recipients. …
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Attempts to curb illegal activity by enforcing regulations gets complicated when agents react to the new regulatory regime in unanticipated ways to circumvent enforcement. We present a research strategy that uncovers such reactions, and permits program evaluation net of such adaptive behaviors....
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An important question in banking is how strict supervision affects bank lending and in turn local business activity. Supervisors forcing banks to recognize losses could choke off lending and amplify local economic woes. But stricter supervision could also change how banks assess and manage...
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