We present a simple, positive model in which regulatory enforcement is a 2-stage process. In the first stage firms are subject to random inspection. The inspection yields a noisy signal of the firm's true performance. Only if the signal exceeds some critical or "trigger" value is the firm...

In this paper, we investigate the effect of a change in childcare subsidies on parental subjective well-being. Starting in 1997, the Canadian province of Québec implemented a generous program providing $5-a-day childcare to children under the age of 5. By 2007, the percentage of children...