This paper utilizes a Swedish alcohol policy experiment conducted in the late 1960s to identify the impact of prenatal alcohol exposure on educational attainments and labor market outcomes. The experiment started in November 1967 and was prematurely discontinued in July 1968 due to a sharp...

What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....

This paper surveys Mexico`s economic weaknesses and provides related policy recommendations. Current problems include weak international financial links and external conditions, a recurrent credit crunch and financial underdevelopment problem, with particularly fragile banks, a weak fiscal...

Adams, Blackburn, and Cotti (ABC) found that increases in minimum wages were positively related to drunk driving-related traffic fatalities for those ages 16 to 20. The hypothesized mechanism for this relationship - increased alcohol consumption caused by minimum wage - induced income gains -...

Several studies have found protective effects of low/moderate (hereafter "light") alcohol consumption compared with "abstinence" on mortality, health and wage. Some of these studies have been criticised because former drinkers have been included among the abstainers, which may overstate the...

This study examines the impact of Sweden's unique two-part Minimum Legal Drinking Age (MLDA) policy on alcohol consumption and health using regression discontinuity design. In Sweden on-licence purchasing of alcohol is legalised at 18 and off-licence purchasing is legalised later at 20 years of...

This paper examines the determinants of motorcycle fatality rates using panel data and classical and Bayesian statistical methods. It focuses on five variables in particular: universal helmet laws, partial helmet laws, cell phone use, suicidal propensities, and beer consumption. Universal helmet...

We present a model for the equilibrium movement of capital between markets.Two markets with symmetrically distributed risks are distinguished only by the levelsof capital invested in the two markets. That market with the greater amount of capitalearns lower conditional mean returns....

How does growing international financial diversification affect firm-level and aggregate labor shares? We study this question using a novel framework of firm labor choice in the face of aggregate risk. The theory implies a cross-section of labor risk premia and labor shares that appear as...