This paper uses the China Foreign Investment Country-Oriented Industry Catalog as a policy shock to study the effectiveness and externality effect of China's OFDI incentive policy through the RD and PSM-DID model correspondingly. The results show that OFDI encouragement policy can effectively...

We use experimental data from the Head Start Impact Study to examine the effects of childcare program pathways on cognitive outcomes. Using a sequential choice model with state dependence and dynamic selection, we identify and estimate joint returns and complementarities across skill investment...

How does a large structural change to the labor market affect education investments made at young ages? Exploiting differential exposure to the national decline in routine-task intensity across local labor markets, we show that the secular decline in routine tasks causes major shifts in...

Using a customized survey and an information-provision experiment, we establish that loan officers' individual subjective expectations about inflation, GDP growth, and policy rates vary substantially within and across bank types and have a sizable causal effect on credit supply decisions....