Local opioid abuse reduces net worker inflows, taxable income, high skilled labor, corporate and aggregate innovation, new business creation, and job growth from start-ups in affected areas, holding socioeconomic conditions constant. Changes in house prices, parks and recreation expenditures,...

We study the spillover effects of the opioid epidemic through the banking network. Using granular opioid supply data, we first document a negative link between local opioid supply and deposit growth at both the county and bank levels. Facing deposit drains, exposed banks reduce lending...

The consequences of granting democratic rights to citizens in otherwise authoritarian regimes has been extensively studied. Much less is know about the implications of retracting these rights when a government wants to recentralize power. Autonomous governance in rural China, introduced in the...

Building on recent findings in psychology, we study the impact of subjective age identity (feeling younger or older than one's chronological age) on economic behaviors. Using data from the Health and Retirement Study we find: Individuals with a younger age identity have higher work engagement,...

With a license to use individually identifiable information on student loan borrowers, we find that a majority of distressed student borrowers manage their debt sub-optimally and that suboptimal debt management is associated with higher loan delinquency. Loan mismanagement varies across student...