Behavioral finance argues that some financial phenomena can plausibly be understood using models in which some agents are not fully rational. The field has two building blocks: limits to arbitrage, ...

The decline in housing affordability over recent decades has promoted an enhanced interest in housing supply. This chapter presents descriptive evidence about the evolution of us housing prices, ...

We conduct a long-run evaluation of one of the oldest professional mentoring programs for underrepresented groups in economics, the American Economic Association Mentoring Program (AEAMP). The AEAMP ...

The period after the Global Financial Crisis (GFC) was characterized by a considerable risk migration within global liquidity flows, away from cross-border bank lending towards international bond ...

This paper develops a complete-market production economy with heterogeneous beliefs about TFP growth. Hiring occurs before TFP is known and is, therefore, risky (operational leverage). The firm's ...

How good is AI at persuading humans to perform costly actions? We study calls made to get delinquent consumer borrowers to repay. Regression discontinuity and a randomized experiment reveal that AI is ...

Using limitations to the deductibility of interest payments triggered by the introduction of interest ceiling rules globally, we show that affected private firms reduce leverage relative to unaffected ...

We introduce the concept of racial capital, defined as the collective material and non- material assets of the racial groups to which a child is exposed while growing up, and examine its potential to ...

This paper examines the long-term impact of keeping versus losing one’s home following a mortgage delinquency in the aftermath of the Great Recession, studying the trajectory of homeownership, ...

We study whether gender differences in university major choices result from anticipated labor market discrimination. First, we document two novel facts using administrative transcript records from a ...

In this paper, we develop a simple model to show that, holding the total number of experiments constant, markets dominated by a few large-scale experimenters- firms conducting multiple experiments- ...

This study evaluates an environmental education program in the Dominican Republic, targeting children’s attitudes, knowledge, behaviors, and willingness to pay for conservation. The program boosted ...