We study the cause of large fluctuations in prices in the London Stock Exchange. This is done at the microscopic level of individual events, where an event is the placement or cancellation of an order to buy or sell. We show that price fluctuations caused by individual market orders are...

Donohue and Levitt (2001) attribute over half of the decline in U.S. crime rates during the 1990s to abortion legalization. This paper conducts similar research by exploiting cross-province time-series variation in Canadian data. The use of Canadian data allows me to separate the effects of...

A central parameter for evaluating tax policies is the price elasticity of demand for cigarettes. But in many countries this parameter is difficult to estimate reliably due to widespread smuggling, which significantly biases estimates using legal sales data. An excellent example is Canada, where...

In this paper I attempt to assess empirically the effects of Canadian impaired driving legislation enacted between 1976 to 1992. On average, penalties for impaired driving have limited impact on impaired driver fatalities. Instead, trends in impaired driver deaths are significantly correlated...

We evaluate the effects of higher beer prices on gonorrhea, chlamydia, and teen pregnancy rates by pooling data across Canadian provinces over time. Higher real beer prices are significantly correlated with a reduction in both gonorrhea and chlamydia rates with price elasticities ranging from...

Some recent policy initiatives aimed at preserving the market share of smaller gasoline retailers have been proposed in Canada. These measures are grounded in the belief that strengthening such firms will enhance competition and result in lower prices, which is consistent with the implications...

Some recent policy initiatives aimed at preserving the market share of smaller or independent gasoline retailers have either been implemented or proposed in both Canada and the United States. Employing monthly data on average retail prices and market shares across eleven Canadian cities between...

Most research using cross-country data find income elasticities equal to or exceeding unity with respect to health expenditure. These conclusions might be confounded due to omitted variables bias and the presence of unobserved country and year specific determinants of per capita health...