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 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 ...

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 ...

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 ...

Science of Science Funding is an NBER initiative, supported by the Alfred P. Sloan Foundation, which seeks to improve understanding of effective methods of supporting scientific research. Its goal is ...

A large theoretical literature on job search predicts that a higher minimum wage will increase the number of job seekers for affected jobs, which can lead to more job creation and higher employment.

We analyze the differential effects of minimum wage increases on individuals with disabilities using data from the American Community Survey and leveraging state-level minimum wage variation during ...

The decision by developing countries to open up their economies to foreign trade and investment in the 1980s and 1990s was a momentous event in world history. How and why did this trade policy ...