Recession recoveries may be classified as U-shaped, in which the economy eventually returns to the pre-recession growth path, or may be classified as L-shaped in which the economy returns to the previous slope but never recovers to the level of the pre-recession growth path. We show that high...

We provide general results for the asymptotic variance of regression coefficients computedfrom a sample drawn from a finite population. We encompass the potentialoutcomes and classic regression frameworks allowing for both heterogeneous treatmenteffects and random-across-resampling shocks....

At the start of the 2020 school year, some colleges chose to reopen in person while others offered primarily online classes. Why? Colleges with higher shares of revenue independent of students being on campus were less likely to reopen in person. Larger shares of revenue attributed to in-person...

This paper presents several economic models that explore the relationships between imperfect information, racial income disparities, and segregation. The use of race as a signal arises here, as in models of statistical discrimination, from imperfect information about the return to transactions...

As a contribution toward the ongoing discussion about the use and mis-use of p-values, numerical examples are presented demonstrating that a p-value can, as a practical matter, give you a really different answer than the one that you want.