African-American motorists may adjust their driving in response to increased scrutiny by police. In daylight, when their race is more easily observable, minority motorists are the only group less likely to have fatal motor vehicle accidents. In Massachusetts and Tennessee, we find that...

A primary rationale for public financing of schools is that education fosters civic engagement. However, existing studies examining the relationship between schooling and civic engagement have focused exclusively on how educational attainment affects political activity. We provide evidence on...

We use HMDA rate spread loans to identify lenders involved in riskier lending prior to the foreclosure crisis. We develop a shift-share measure of changes in high rate spread share lender representation in housing submarkets across origination years. While half the cross-sectional correlation...

African-American motorists may adjust their driving in response to increased scrutiny by police. In daylight, when their race is more easily observable, minority motorists are the only group less likely to have fatal motor vehicle accidents. In Massachusetts and Tennessee, we find that...

This paper examines the long-term impact of keeping versus losing one's home following a mortgage delinquency in the aftermath of the Great Recession, studying the trajectory of homeownership, consumption, and financial well-being over the subsequent decade. Our research design leverages the...

Recent research suggests that loss aversion may arise from anchoring or inattention, consistent with bounded rationality. Focal point bias (focus on round numbers or left digits) represents a well-documented, bounded rationality driven behavioral bias. We estimate a strong conditional...