In this paper, we quantitatively analyze to what extent a benevolent government should issue debt in a model where households are subject to idiosyncratic productivity shocks, insurance markets are missing and borrowing is restricted. In this environment, issuing government bonds facilitates...

Combining a theoretical model of imperfect information with empirical evidence, we show how the effect of providing price information to consumers depends on how well informed they are beforehand. Theoretically, an increase in consumer information decreases prices more, the fewer ex ante...

In recent decades, the US has experienced a widening of the college enrolment gap between rich and poor families. This is commonly interpreted as evidence for a tightening of borrowing constraints. This paper asks whether this is indeed the case. I present an incomplete-markets...

There is considerable research on the science of climate change. Climate change is also an important focus in the field of (international) environmental law. However, the challenge that the climate crisis represents for law is multifaceted and requires interdisciplinary research in a wide...

We examine the political response to immigrant legalization and its subsequent impact on the distribution of state and local spending by exploiting variation in legal status arising from the 1986 Immigration Reform and Control Act (IRCA), which legalized 3 million immigrants in the United...

We study under what conditions mandatory price disclosure is pro- or anticompetitive. Using a theoretical search model with collusion and imperfectly informed consumers and producers, we characterise the circumstances under which increasing price transparency benefits consumers. We show that the...

We study the impact of immigrant legalization on fiscal transfers from state to local governments in the United States, exploiting variation in legal status from the 1986 Immigration Reform and Control Act (IRCA). State governments allocate more resources to IRCA counties, an allocation that is...