In this paper drawing from the theoretical framework developed by Shieh et al., (2002), we present an endogenous growth model to empirical analyze the growth maximizing allocation of public capital among military spending and investment in infrastructure. Using this general model of public...

In response to U.S. corporate failures involved in the current global financial crisis, traditional corporate finance vehicles and tools were widely used in new ways and for new purposes. Of course, one object of the U.S. government's investment and intervention in, and exercise of influence...

In this paper, we examine the options, challenges, and potential pitfalls in expanding the role of the private sector in providing flood insurance in the United States. This topic that has garnered considerable interest given the problems facing the National Flood Insurance Program (NFIP). There...

In this paper, I examine the role of firm lobbying in shaping the structure of US production networks, and its implications for misallocation in production networks across space. Using several instrumental variable strategies, I establish that firms that lobby have more buyers and suppliers, and...

We study the relationship between housing supply and political partisanship in US cities using a new database of mayoral elections combined with local housing permits since 1980. Endogeneity of which party holds the mayoral office is addressed via a regression discontinuity design that relies on...

This paper provides new evidence on a long-standing question asked by Shiller (1997): Why do we dislike inflation? I conducted two surveys on representative samples of the US population to elicit people's perceptions about the impacts of inflation and their reactions to it. The predominant...

This paper traces the origins and early history of perceived gender differences in absenteeism in Great Britain and the USA. Among politicians and scholars, the problem was first articulated during World War I and reappeared as an issue of prime concern during World War II. The war efforts...

What is the likelihood that the U.S. will experience a devastating catastrophic event over the next few decades – something that would substantially reduce the capital stock, GDP and wealth? What does the possibility of such an event imply for the behavior of economic variables such as...

Draft lottery number assignment during the Vietnam era provides a natural experiment to examine the effects of military service on crime. Using exact dates of birth for inmates in state and federal prisons in 1979, 1986, and 1991, we find robust evidence of effects on violent crimes among...