After the JD III: Third Results of a National Study of Legal Careers
This report gives an overview of findings from the third wave of data collection for the After the JD Study of Lawyers’ Careers, which we refer to in this report [...]
When Examinees Cannot Test: The Pandemic’s Assault on Certification and Licensure
The COVID‐19 pandemic wreaked havoc on the world economy as shelter‐in‐place regulations forced individuals to stay at and work from home. Brick and mortar testing centers, whether run as part [...]
Why Do Borrowers Default on Mortgages? A New Method For Causal Attribution
There are two prevailing theories of borrower default: strategic default—when debt is too high relative to the value of the house—and adverse life events—such that the monthly payment is too [...]
Does Joining the S&P 500 Index Hurt Firms?
We investigate the impact on firms of joining the S&P 500 index from 1997 to 2017. We find that the positive announcement effect on the stock price of index inclusion [...]
Is Dodd-Frank the Biggest Law Ever?
The Dodd-Frank Wall Street Reform and Consumer Protection Act (commonly known as Dodd-Frank), which was intended to address perceived problems in the financial system and prevent future crises, is the [...]
Technological Improvement Rate Estimates for All Technologies: Use of Patent Data and an Extended Domain Description
In this work, we attempt to provide a comprehensive granular account of the pace of technological change. More specifically, we survey estimated yearly performance improvement rates for nearly all definable [...]
Time to Stop the Exploitation of Free Academic Labour
Commercial publishing houses continue to make unbounded profits while exploiting the free labour of researchers through peer review. If publishers are to be compensated financially for the value that they [...]
The Causal Effects of R&D Grants: Evidence From a Regression Discontinuity
Direct public support for business R&D is a well-established remedy to market failures, yet empirical evidence on its effectiveness yields conflicting results. The paper investigates the impact of the first [...]
Occupational Licensing and Labor Market Fluidity
We show that occupational licensing has significant negative effects on labor market fluidity defined as cross-occupation mobility. Using a balanced panel of workers constructed from the CPS and SIPP data, [...]
Kicking the Can Down the Road: Government Interventions in the European Banking Sector
We analyze the determinants and the long-run consequences of government interventions in the eurozone banking sector during the 2008/09 financial crisis. Using a novel and comprehensive dataset, we document that [...]