This paper investigates the long-term impact on earnings of attending a tuition-free, top-quality university in Brazil. We identify the causal effect through a sharp discontinuity in an admission process based on test scores. If admitted, low-income students are found to increase their earnings...

China's stock market greatly outperformed other national markets during the first several months of the COVID-19 pandemic, and it did so even before it became evident that early containment efforts would flounder in the United States and many other countries. As to why, one view holds that...