Publications

We examine the role of political affiliation during the selection of Opportunity Zones, a place-based tax incentive enacted by the Tax Cuts and Jobs Act of 2017. We find governors are on average 7.6% more likely to select a census tract as an…

We use data on deaths in New York City, Madrid, Stockholm, and other world cities as well as in various U.S. states and other regions and countries to estimate, quickly and with limited data, a standard epidemiological model of COVID-19. We allow…

Understanding collective behavior is an important aspect of managing the pandemic response. Here the authors show in a large global study that participants that reported identifying more strongly with their nation reported greater engagement in…

In today’s vast digital landscape, people are constantly exposed to threatening language, which attracts attention and activates the human brain’s fear circuitry. However, to date, we have lacked the tools needed to identify threatening language…

Voluntary shelter-in-place directives and lockdowns are the main non-pharmaceutical interventions that governments around the globe have used to contain the Covid-19 pandemic. In this paper we study the impact of such interventions in the capital…

Requirements for integrating care across providers, settings, and over time increase with patients’ needs. Health care providers’ ability to offer care that patients experience as integrated may vary among patients with different levels of need.…

This is the seventh annual State of Latino Entrepreneurship report in which we have collected robust survey data from Latino-owned businesses across the country to provide a timely account of the fastest growing segment of the U.S. business…

We use trade-level data to examine the role of actively managed funds (AMFs) in earnings news

dissemination. We find that AMFs are drawn to, and participate disproportionately more in, earnings announcements (EAs) that include bundled…

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U.S. fair-lending law prohibits lenders from making credit determinations that disparately affect minority borrowers if those determinations are based on characteristics unrelated to creditworthiness. Using an identification under this rule, we…

We combine deed-level data on homeownership with administrative data on voter turnout in local and national elections for more than 18 million individuals in Ohio and North Carolina. Using a difference-in-differences design, we find that buying a…

Women and men often contribute differently to research knowledge. Do differences in these contributions partially explain disparities in academic career outcomes? We explore this by looking at how gender is embodied in research language, and then…

The modern financial system features complicated financial intermediation chains, with each layer performing a certain degree of credit/maturity transformation. We develop a dynamic model in which an entrepreneur borrows from overlapping-…

Companies often benefit from others’ attributions of moral conviction for prosocial behavior, for example, attributions that a company has a sincere moral desire to improve the environment when behaving sustainably. Across four studies, we…

The standard solution concept for stochastic games is Markov perfect equilibrium (MPE); however, its computation becomes intractable as the number of players increases. Instead, we consider mean field equilibrium (MFE) that has been…

Traditional odd lot trades (i.e., trades involving fewer than 100 shares) now comprise over half of all equity trades on U.S. exchanges. Under Regulation National Market System, however, these trades are excluded from a market center’s trade…

We study the optimal self-enforcing agreement based on quantity mandates and price instruments in a repeated game between countries, whose domestic firms invest in green technology before consumers emit. We find that technology must be regulated…

Over the past few decades, the production and consumption of clothing has increased exponentially, leading to a dramatic increase in the negative environmental consequences produced by the fashion industry. Given the rising pace of global warming…