This paper estimates the impacts of the Clean Air Act's division of counties into pollutant-specific nonattainment and attainment categories on measures of industrial activity obtained from 1.75 million plant observations from the Census of Manufactures. Emitters of the controlled pollutants in...

The 1981-1982 recession induced substantial variation across sites in air pollution reductions. This is used to estimate the impact of total suspended particulates (TSPs) on infant mortality. We find that a 1-percent reduction in TSPs results in a 0.35 percent decline in the infant mortality...

The 1964 Securities Acts Amendments extended the mandatory disclosure requirements that had applied to listed firms since 1934 to large firms traded Over-the-Counter (OTC). We find several pieces of evidence indicating that investors valued these disclosure requirements, two of which are...

Measures of public preferences toward risk are critical to evaluations of public policies on many safety, environmental, and health issues. In this paper we provide a method for measuring the revealed preferences for safety risks from state level public choices about speed limits. The idea is to...

The recent emphasis on sector-specific investment strategies has led to the emergence of industry-specific calendar anomalies, notably the technology sector "summer swoon." A standard ttest implies that these price movements provide arbitrage opportunities. However, this test fails to account...

In 1987 the federal government permitted states to raise the speed limit on their rural interstate roads, but not on their urban interstate roads, from 55 mph to 65 mph for the first time in over a decade. Since the states that adopted the higher speed limit must have valued the travel hours...

Previous research has established an association between air pollution and adult mortality. However, studies utilizing short-term fluctuations in pollution may detect mortality changes among the already ill or dying, while prospective cohort studies, which utilize geographic differences in...

We examine the effects of total suspended particulates (TSPs) air pollution on infant health using the air quality improvements induced by the 1970 Clean Air Act Amendments (CAAA). This legislation imposed strict regulations on industrial polluters in nonattainment' counties with TSPs...

In 1987 the federal government permitted states to raise the speed limit on their rural interstate roads, but not on their urban interstate roads, from 55 mph to 65 mph for the first time in over a decade. Since the states that adopted the higher speed limit must have valued the travel hours...