This paper exploits the dramatic increase in house prices in early 2000 and the panel nature of the data to investigate the effect of home equity on charitable giving. Using the Panel Study of Income Dynamics from 2001 to 2007, we find that a 10% increase in home equity increases a household’s...

While nearly half of all school districts have adopted middle schools, there is little quantitative evidence of the efficacy of this educational structure. We estimate the impact of moving from a junior high school system, where students stay in elementary school longer, to a middle school...

This study examines the effect of gender on the choice of adjustable- versus fixed-rate mortgages among mortgage applicants in the United States. While adjustable-rate mortgages (ARMs) are initially cheaper, they expose the borrower to interest rate risk. Using linear probability models applied...

We semiparametrically estimate average causal effects of different lengths of exposure to academic and vocational instruction in the Job Corps (JC) under the assumption that selection into different lengths is based on a rich set of observed covariates and time-invariant factors. We find that...