A number of existing studies on insurance demand report an apparently pathological result that insurance is a luxury good. Using cross-country insurance data and national wealth data, we resolve this spurious puzzle. While we found that the income elasticity of insurance demand is larger than...

Popular sentiment toward immigration is often antagonistic, making the integration of migrants one of the most important yet daunting challenges facing societies in advanced economies. Can information campaigns decrease public opposition to immigration? This paper reports results from a...

Popular sentiment toward immigration is often antagonistic, making the integration of migrants one of the most important yet daunting challenges facing societies in advanced economies. Can information campaigns decrease public opposition to immigration? This paper reports results from a...

We study two issues: the relationship between loan monitoring and loan risk and the corporate value of banks' investments in loan monitoring systems. We find that dynamic monitoring of loans, where the bank is scanning in real time for events that may be of relevance to loan quality, tend to...