Our setting is dividend recapitalizations in private equity (PE), where portfolio companies take on new debt to pay investor returns. After accounting for positive selection into more debt, we show ...

Altruism is a key component of medical professionalism that underlies the physician's role as a representative agent for patients. However, physician behavior can be influenced when private gains ...

What, however, do managers actually do? We outline three defining principles of economic research on managers and relate them to the set of skills reported by managers on LinkedIn. We highlight ...

This paper studies the effects of the largest residential racial desegregation initiative in U.S. history, the Gautreaux Assisted Housing Program. From the late 1970s to the 1990s, Gautreaux moved ...

This paper studies how family and firm investments interact to explain gender gaps in career achievement. Using Danish administrative data, we first document novel evidence of this interaction through ...

We study the causal effect of education on ADRD, exploiting a regression discontinuity generated by a compulsory schooling reform. ADRD was ascertained based on medical history, hospital records, and ...

Increasing within-country disparities have led policymakers to deploy public employment reallocation as a place-based policy tool to support struggling regions. This paper surveys the economics ...

We leverage decades of administrative data and quasi-experimental variation in the introduction of universal long-term care (LTC) insurance in Germany in 1995 to examine whether health insurance ...

We decompose inflation into the component due to macroeconomic shocks and the granular residuals capturing the impact of individual firms and product categories, respectively. In advanced economies, ...

Differentiated product consumption choices made without full information can lead to welfare losses from regret and missed opportunities, but a lack of post-purchase usage data has prevented their ...

We construct a framework that defines optimal outcomes in criminal courts, and we use this framework to interpret and organize the existing literature on racial disparities in pretrial detention, ...

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