Recent changes to the Corporate Average Fuel Economy (CAFE) standards in the United States mandate substantial improvement in automobile fuel economy over the next fteen years. One of the ways that manufacturers improve fuel economy is to lower vehicle weights, which has impacts on safety. The...

If the type of work undertaken while young affects either development of human capital or preferences, then early work experiences may have measurable effects on later life outcomes. This paper examines whether or not having a job as a teenager, and whether or not it is a childoriented job,...

This paper extends the study of current account reversals by considering the implications for the composition of output and employment. It is shown that decreases in current account deficits imply increases in tradable relative to nontradable output and/or declines in investment. The impact of...

The recent financial turmoil highlights the incentive of highly leveraged financial institutions to take excessive risk, given the protection of limited liability. During the nineteenth and early twentieth century, many banks operated under liability rules which obligated shareholders to bear...

This assessment considers the worldwide costs from 1900 to 2050 of continued gender inequality. The main cost is considered to be the inefficient underutilization of women in production. This can be measured in terms of their correspondingly lower earnings and expressed as a percentage of actual...

We investigate the economic impacts of bank taxation on the value of banks and that of borrowing firms, exploiting the surprise announcement of a tax by the Tokyo metropolitan government as a natural experiment. We find that the tax announcement had broad effects on the share prices of banks,...