In May 2001, Senator Jim Jeffords left the Republican Party and tipped control of the U.S. Senate to the Democrats. This paper uses the surprise event to demonstrate what I term the Jeffords effect: changes in the political landscape have large effects on the market value of firms. I use a...

Reducing global poverty and addressing climate change and other environmental crises are among the most important challenges facing humanity today. This review discusses one way in which these problems are intertwined: how economic development affects the environment. I synthesize recent...

This article discusses cultural barriers to women's participation and success in the labor market in developing countries. I begin by describing how gender norms influence the relationship between economic development and female employment, as well as how gender norms vary substantially across...

This paper tests whether mothers and fathers differ in their spending on their daughters relative to their sons. We compare mothers’ and fathers’ willingness to pay (WTP) for specific goods for their children, diverging from the previous literature’s approach of comparing the expenditure...

We propose and validate a simple way to augment the standard Becker-DeGroot-Marschak method that researchers use to elicit willingness to pay (WTP) for a good. The augmentation is to measure WTP for another good ("benchmark good"), one unrelated to both the good the researcher is interested in...

Reductions in greenhouse gas emissions are a global public good, which makes it efficient to act globally when addressing this challenge. We lay out several reasons that high-income countries seeking to mitigate climate change might have greater impact if they invest their resources in...

In May 2001, Senator James Jeffords left the Republican Party and tipped control of the U.S. Senate to the Democrats. This paper uses the surprise event to demonstrate what I term the "Jeffords effect": changes in the political landscape have large effects on the market value of firms. I use a...

Trade sanctions are often criticized as ineffective because they create incentives for evasion or as harmful to the target country's population. Loan sanctions, in contrast, could be self-enforcing and could protect the population from being saddled with "odious debt" run up by looting or...