We show that the stock market price reaction to monetary policy surprises upon announcements of the Federal Open Market Committee (FOMC) is explained mostly by changes in the default-free term structure of yields, not by changes in the equity premium. We reach this conclusion based on a new...

We examine student, teacher, and peer perceptions of effort, ability, performance, and self-confidence in Romania's highly tracked schools. We find that: (1) students just above a cutoff--tracked into high-achieving classes--have less favorable self-perceptions than those just below...

The rich live longer than the poor, but relatively little is known about the evolution of health inequality across the lifecycle. Using rich administrative data from the Netherlands, we develop an index of chronic disease burden based on the projected contribution to old-age mortality. Chronic...

This study examines gender differences in the social impact and commercial motives for academic entrepreneurship using the National Science Foundation's Innovation Corps (NSF I-Corps) program. I-Corps provides experiential entrepreneurship training to faculty and graduate student researchers at...

The growth of electric vehicles (EVs) raises new challenges for electricity systems. We implement a field experiment to assess the effect of time-of-use (TOU) pricing and managed charging on EV charging behavior. We find that while TOU pricing is effective at shifting EV charging into off-peak...

Using a century of data, we show that Treasury convenience yield and inflation comove positively during the inflationary 1970s-1980s, but negatively pre-WWII and post-2000. An inflation decomposition reveals that higher supply inflation predicts higher convenience, while lower demand inflation...

How do different income taxation systems affect household decisions and welfare? We answer this question by first documenting the strong labor supply disincentives for secondary earners of the U.S. tax system and by using variations from the Bush Tax Cuts to assess their effects on...

Researchers often test firm conduct models using pass-through regressions or instrumental variables (IV) methods. The former has limited applicability; the latter relies on potentially irrelevant instruments. We show the falsifiable restriction underlying the IV method generalizes the...

We quantify the extent of crypto tax noncompliance and evasion, and assess the efficacy of alternative tax enforcement interventions. The context of the study is Norway. This context allows us to address key measurement challenges by combining de-anonymized crypto trading data with individual...

What happens to children during the early years is recognized to be very important for their long run development. It is also increasingly clear that the skills that are relevant for economic success and more generally well-being are multidimensional, including different types of socioemotional...