This paper uses a rich set of student transcript data to estimate the economic cost incurred by a university when it does not adopt a 'mean-shift grading policy' to fight grade inflation. In a naiuml;ve scenario, where potential moral hazard constraints are ignored or assumed non-binding, the...

This paper defines a new measure of economic distance. Using consistent cross-country data, we estimate local unit costs for 35 sectors in 40 countries. The distance between two countries is the largest percentage difference in unit costs among all sectors. If all goods are traded, this distance...