This paper reports results from the randomized evaluation of a group-lending microcredit program in Hyderabad, India. A lender worked in 52 randomly selected neighborhoods, leading to an 8.4 percentage point increase in takeup of microcredit. Small business investment and profits of preexisting...

This paper studies the contribution of sulfa drugs, a groundbreaking medical innovation in the 1930s, to declines in US mortality. For several infectious diseases, sulfa drugs represented the first effective treatment. Using time-series and difference-in-differences methods, we find that sulfa...