Many controversies that beset the digital economy turn on the role of advertising and its use of personal data. We examine the trade-off between privacy and ad targeting accuracy from the advertisers' perspective. By exploiting Apple's gradual restriction, and ultimately the abolition of ad...

We investigate the short- and long-term effects of retirement on loneliness using panel data from the Survey of Health, Aging, and Retirement in Europe. To estimate causal effects, we exploit differences in retirement eligibility rules across and within countries and use retirement thresholds in...

Across many disciplines, the fixed effects estimator of linear panel data models is the default method to estimate causal effects with nonexperimental data that are not confounded by time-invariant, unit-specific heterogeneity. One feature of the fixed effects estimator, however, is often...

As economic growth and energy consumption are strongly correlated, this research proposes a novel set of energy consumption indices (ECI) that leverages the mixing-frequency method to predict GDP growth rates. The findings demonstrate that the newly developed indices have strong predictive...

This paper investigates the difference between firms' actual and expected employment along the amount of loan invested by them. In addition, it examines the relationship between the amount of loan received by firms and wages. Empirically, using a causal effect estimation and small-sized firms...

This paper investigates the causal impact of short-sale constraints on the idiosyncratic volatility (IVOL) puzzle. Our identification strategies rely on two opposing exogenous shocks to short-sale constraints: (1) Regulation SHO which relaxes constraints for pilot stocks; (2) the Job and Growth...