This paper ranks all 50 states according to how costly their public-employee compensation packages are relative to private-sector standards. Each state's package is placed into one of five categories: modest penalty, market level, modest premium, large premium, or very large premium. The results...

While almost all homeless people are poor, most poor people do not experience homelessness. We use a detailed national survey to explore the role of social ties - including connection to relatives, friends and religious community - in explaining why only a subset of poor adults fall into...

The OECDs Base Erosion and Profit Shifting project has focused on income attributed to intangibles with an objective of curtailing perceived artificial profit shifting by multinational firms.

The Wealth Building Home Loan (WBHL) represents a class of shorter-maturity mortgages that provide a low-risk path to homeownership and wealth accumulation while maximizing buying power. WBHLs are easy-to-understand loans that combine standard mortgage features in a novel way. Importantly, they...

Multi-year forecasts of bank performance under stressful economic conditions determine large institution regulatory capital requirements and yet the accuracy of these forecasts is undocumented. I compare the accuracies of alternative stress test model forecasts using the financial crisis as the...

The rules underlying the assessment of quality of generic drugs, and their bioequivalence to brand name products, have not changed significantly since the passage of the Hatch-Waxman Act in 1984. Yet the products on the market are significantly more complicated today, which may imply that two...

Enacted March 27, 2020, the Paycheck Protection Program (PPP) was the most ambitious and creative fiscal policy response to the Pandemic Recession in the United States.