Access to electricity is typically the main benefit associated with solar panels, but in economically less developed countries, where access to electricity is still very limited, solar panel systems can also serve as means to generate additional income and to diversify income sources. We analyze...

We study the short-term trajectories of employment, hours worked, and real wages of immigrants in Canada and the U.S. using nationally representative longitudinal datasets covering 1996-2008. Models with person fixed effects show that on average immigrant men in Canada do not experience any...

We investigate the effect of trade liberalization on corporate income tax avoidance in a sample of Chinese manufacturing firms, using China's entry into the World Trade Organization (WTO) as a natural experiment. We find that firms engage in more tax avoidance in industries with larger tariff...

The new accounting standard requires that _nancial institutions provision for life-time expected losses on their loan portfolios. We develop a model for estimating long-term expected loan losses that incorporates a wide range of bank- and aggregate-level predictors of future losses. The model...

We find that boardroom centrality formed by sharing directors across firms can significantly increase firms' systematic risk. This positive effect is stronger when the shared directors also sit on the boards of other large firms or of firms included in the stock market index. It is also stronger...

We provide evidence on the payout policies and guidance practices of U.S. non-financial firms since 2000. We argue that managers adopt systematic capital management policies that link payouts to guidance and help credibly convey their expectations about their firms’ prospects. We also examine...

Many women rely on family planning and women’s health organizations as their only recent source of care, including preventive care. Recently, several states have cut public funding for women’s health organizations that are associated with abortion services. This paper is the first to...