Several authors have argued that inequality hinders growth by leading to high distorting taxes and transfers. We retest whether inequality and transfers are positively linked, using several alternative definitions and data sets including new income data assembled by the World Bank. We correct an...

The one-sided credit-to-GDP gap -- measured as the difference between the level of private nonfinancial sector credit-to-GDP and its one-sided Hodrick-Prescott (HP) filtered trend (with λ=400,000) -- is a prominent variable in the decision-making framework proposed by the BCBS for the Basel III...

This note uses bank-level answers to the Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) to investigate the relation between levels and changes in lending standards reported by banks. We provide evidence that banks' responses about levels and changes in standards are...

The Health and Retirement Study asks respondents their subjective probabilities about 12 future events. An individual's responses contain a common component that is unrelated to the true probability of the event in question. Use of the entire set of an individual's responses to control for this...