Research Papers

We investigated the effects of merit aid scholarship programs on the migratory patterns and educational outcomes of skilled labor, using Census data on 24 to 32-year-olds in the U.S. from 1990 to 2010.

We aimed to understand whether subsidizing higher education through merit aid can retain high-achieving students in-state and influence their long-term residency and educational attainment.

Our findings suggest that while merit aid slightly increases the likelihood of state natives remaining in-state and extends in-state enrollment, it does not significantly change the share of a cohort living in-state with a BA, questioning the overall effectiveness of such programs in altering skilled labor migration.

We examined the impact of pension plan type on employee mobility by leveraging a natural experiment where an employer transitioned from a defined benefit (DB) plan to a defined contribution (DC) plan, influenced by default rules.

We aimed to determine if the observed relationship between plan type and employee mobility is due to selection, where employees with higher mobility tendencies may self-select into DC plans.

Our findings reveal that employees with higher mobility tendencies indeed self-select into DC plans, providing important insights for employers and policymakers about the role of pension plan types in workforce dynamics and mobility.

We developed a theory of social class based on workplace ownership and authority relations and examined its link to growth in personal income inequality since the 1980s.

We aimed to establish a theoretical framework linking social class to income inequality trends and empirically investigate these dynamics over time. By focusing on between-class income differences, class size variations, and income dispersion within classes, we sought to identify key factors driving the growth in personal income inequality.

Our findings reveal a significant increase of about 60% in between-class income differences since the 1980s, with the relative size of different social classes remaining stable. Decomposition analysis indicates that these income differences substantially contributed to rising personal income inequality, underscoring the importance of class-based perspectives in understanding economic disparities.

We investigated the impact of “shall-issue” right-to-carry laws, which guarantee concealed carry permits to qualified applicants, on violent and property crime rates.

Our findings can inform policy decisions on gun control and potential consequences of changes to gun laws.

We contribute to ongoing debates about gun violence and provide nuanced evidence on the complex relationship between gun laws and crime rates.

We critically examined Thomas Piketty’s book “Capital in the Twenty-First Century” and its arguments about rising wealth inequality.

We wanted to provide an alternative perspective on wealth inequality and assess the validity of Piketty’s claims and policy prescriptions.

We offer a valuable contribution to the ongoing debate about wealth inequality and challenges some of Piketty’s central arguments.

We examined the exclusion restriction assumption in interpreting IV estimates as a local average treatment effect (LATE) and highlighted cases where this assumption may be violated among inframarginal agents.

We aimed to identify and address potential biases in IV estimates due to violations of the exclusion restriction, which can affect the validity of LATE interpretations, especially among always- and never-takers.

Our findings underscore the need for careful consideration and potential adjustments in IV estimates to ensure accurate interpretations, thereby improving the reliability of econometric analyses involving heterogeneous treatment effects.

We proposed a framework for evaluating the effectiveness of policies in the face of model uncertainty, where different economic models may yield conflicting predictions.

Our goal was to address challenges in policy evaluation when relying on models with inherent limitations and improve the reliability of policy recommendations.

We offer a novel approach to policy evaluation that acknowledges model uncertainty and promotes robust, evidence-based policy decisions.

We conducted a field experiment to test theories of time-inconsistency, specifically the “Beta-Delta” model of present bias, in the context of saving decisions made by low-income tax filers.

We aimed to understand how present-biased preferences influence the decision to deposit tax refunds into illiquid accounts, providing insights into the tradeoff between immediate and delayed payments.

Our findings provide evidence of significant present bias in financial decisions, with an estimated annual discount rate of 164%, offering valuable implications for designing policies and interventions to encourage saving among low-income individuals.

We explored the limitations of dynamic policy analysis, which uses models to evaluate the long-term effects of policy changes.

We aimed to understand the challenges of using models for long-term forecasting and policy planning in a complex and evolving economic environment.

We raise important concerns about the limitations of models and emphasize the need for caution in relying on them for long-term policy decisions.

We investigated the mixed empirical evidence on the deterrent effect of capital punishment and potential explanations for these inconsistencies.

Our findings can contribute to the ongoing debate about capital punishment and inform policy decisions regarding its use as a criminal deterrent.

We shed light on the complexities of measuring deterrence and highlight the need for careful consideration of various factors before drawing conclusions about capital punishment’s effectiveness.